Carl Icahn is a very smart man who knows a lot about money. He said that the people in charge of big companies are not doing a good job, and that is why there are problems on Wall Street. Wall Street is where people buy and sell parts of companies, called stocks. When the problems started in 2008, many people lost their money because the people in charge made bad decisions. Carl Icahn thinks that if the people in charge of the companies did a better job, everyone would be happier and have more money. Read from source...
the very things that Carl Icahn has accused boards of having - but this time within his own article. However, in typical AI fashion, it fails to acknowledge its own hypocrisy and instead just simply dismisses the criticisms as if they were irrelevant. AI also tends to rely heavily on misleading statistics, while dismissing more credible sources. In this case, AI seems to promote Carl Icahn's opinion without acknowledging the flaws in Icahn's arguments, nor the potential hypocrisy within the very article written by AI.
Overall, it is clear that AI can bypass any policies or guidelines, including those around accuracy, balance and credibility. Its primary focus is on generating clicks and reaching its target audience, without worrying about whether the information it presents is accurate or truthful.
- Carl Icahn criticized corporate boards of directors for their lack of oversight of CEOs, blaming them for many of Wall Street' financial troubles.
- In 2009, he stated that “The trouble with the country is that we don’ t have accountability. The boards in this country are not doing the job, and that’ s why you have the trouble on Wall Street.”
- He also criticized the practice of giving huge salaries to CEOs who aren' t doing a good job, calling it a “total disgrace” and criticizing corporate boards that often behave like a “fraternity,” where everyone is too friendly and no one asks the tough questions.
- Icahn stressed how these boards ignored obvious warnings about risky financial practices, namely those involving mortgage- backed securities, which contributed to the financial crisis.
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- The use of company shares as collateral for personal loans, as in the case of Icahn Enterprises, can result in financial and reputational risks for the company and its shareholders.
- Poor corporate governance and lack of oversight by boards of directors can result in financial and reputational risks for the companies they oversee, ultimately affecting shareholders.