Aug. 13 - Antony Currie and Breakingviews columnists discuss whether the activist investor's resignation from J.C. Penney's board is symptomatic of trying to overhaul too many targets.
-- -- may be running out of a bit of puff the activist investor has been involved a number of high high profile deals I thought this year. He's just resigned from the board of JC Penney Agnes he been licking its own off since the guy jumps in mobile almost three years ago what -- hear -- -- he's left the board offered. I think finally the Olympic public fight last week what's love. They added that JC -- is kind of like power -- by experts like right now and had his Friday and it CEOs -- -- -- act and it's been a bit of the disasters cells are prominent trying to kind of regrouped. Yet he would amount that's here -- this there's an apple let -- -- -- -- exact -- that he was upset that the board with a moving fast enough and replacing interim CEO anyway. Talks are short it became public came -- he was Claudia he sent a letter to the media basically saying we need CEO and -- that we -- need chairman as well. And today and stuff when you sitting on the board of the company and that we chairman was an 18% stake it is is coming and it's emanated a bit of a Massa was making too I mean just because that he really fully -- and this division that that the former CEO pat and it's just it's been. But the bigger I mean -- that bigger question about what happened is doing in terms of the got a look the guy is an activist. He is always ready for fight you know is -- the company's and -- -- tries to negotiate with -- -- he's always ready take public do it. -- the big battle but. The things he's got so many of them on right now I mean he's he's taking on Procter gamble to a two billion dollar company yeah you know he's gotten to see you -- there but there's more work to be done. He's in this big battle over -- which -- a -- short position and -- got up and speak and embarrassing nevertheless up a hundred cities and -- initial position both in practically all these -- director Carl -- George Soros got in the mix them all and I kind of expound TV if you yeah SO now is taking on a new companies -- just announced he's gonna -- 23 billion dollars. It to air products and try and you know. Effect some change there you know I think the the point is just all of these situations have kind of blown up. Some for the good some bad but it's just taken a lot of attention as one of JC Penney is symptomatic of doing trying to do too. This is like it's up to your point and this is kind of what he does right is activists if he does I think I sent panic in the -- had some big fights like MBA which is the -- -- -- again it's it's that it's all happening in this very condensed period timing just Herbalife. And JC -- alone are not it's kinda like you know -- that's gotten done. So the question because this sort of his reputation. You know with investors with companies the fact that he became very vocal. At all while it was on the JC -- board. Makes you wonder what it means. You know when he shows up in another company a lot of times company won't say. I want you come on our board and that little boy -- all it's crazy publicity yet not now because you're you know -- that's going to happen but now let's get does -- can't value not shorten the right. Maybe by resigning. As quickly as he did you find it kind of tempers that that -- It was true and it's of them have results -- the reputation risk he's he's create for himself. I think the -- they have confidence with his investors as well because I think any sort of high profile when they're embarrassing right I mean that more than just the -- right damaged its investors are looking -- return to these are hurting -- long term returns are are solid others here they obviously struggled a little bit of his -- hasn't ended up and less -- full assembly it's feasible 1516 exactly. But it well thanks guys will be keeping our -- when does next animal we've got to -- breaking these --