Wells Fargo faces shareholders in wake of $1B fine to settle mortgage and auto loan violations; Spotify expected to unveil next move since going public three weeks ago; Sears CEO looks to buy Kenmore brand, other valuable assets; Amazon’s next secret project could be personal robots that follow you around your home?; JetBlue selling seats on semi-private flights for semi-millionaires; Virgin Atlantic bringing high tea to the skies – for all passengers; Papa John’s testing beer delivery; Hot vehicles most likely to increase in value; Best time to book your summer flight(s) (like-now!); Martha Stewart’s newly expanded party supplies line; Cheeses you’ve never heard of but need to try – immediately; No Derby for Gronkowski horse; Ice pops recall; Corona and lime gummies.
Drinking water may help exercising seniors stay mentally sharp; Health officials want you vaccinated if traveling to Kentucky or Michigan this summer; Wellness – quickly becoming newest (and healthiest) trend in real estate; Pineapple plants to reduce snoring??; Hawaii’s chemical sunscreen ban (to protect island’s reefs); Common allergic conditions linked to mental health; The ‘charcoal-activated’ vegan croissant that’s still sparking debate on social media..
Remember when we all used Sun-In to lighten our hair so it looked like we’d been at the beach all summer long? Well, Ouai is out with a 2018 version of this 90s favorite, and it apparently…works?!; Sarah Jessica Parker launches bridal collection-exclusively on Gilt; Chanel, Gucci, Versace – short on transparency; Tea stirring up skin care market; Visors — back in style?; Anti-aging treatments doctors actually use; John Mayer, skincare blogger; The Meghan economy: a gilded effect on every fashion brand she wears, especially the lesser-knowns..
Are you eating and drinking enough before your workout? If you have to ask…..Charlize Theron says she was ‘depressed‘ after gaining 50 pounds for role in Tully; Why killing yourself w/cardio is wrong way to get in shape; What nutritionists buy at Trader Joe’s; ‘Two-Treat Rule‘ [Stupid and not gonna happen]; Kim Kardashian’s 5-pound weight loss in four days [More realistic because involves no food whatsoever-ha]; The man who commutes to work every day on his paddleboard…Like!
Meet me at the Eiffel Tower…another time…oui? Air France cancelling 25% of flights today (wage dispute); Southwest also cancelling a bunch of flights – for engine inspections; Sea level rise threatening coastal cities around world; Michael Jackson’s moonwalk shoes going up for auction; Prom allegedly getting cheaper; Google collects enough data on you to fill an 8-foot stack of paper every two weeks?; Walmart close to $12-billion-plus deal for Flipkart; The Disney-themed house that’s for sale (being sold by couple named Mickey and Minnie–no joke); Krispy Kreme lemon-glazed donuts (available this week only); Dubai’s newest luxury hotel – in a former cruise liner; Rising gas prices; America’s best barbecue chains; Milky Way Fudge Minis.
An exotic tick species is now living year round in…New Jersey?!; And this tick species is new to America?!; What say you, Annette Bening?; Big belly is bad for your health and your heart…even if you’re not overweight; World’s oldest person dies in Japan at age 117 (She was the last known person to be born in 19th century.); Green tea supplements – hurting your liver?; Why the romaine lettuce E. coli outbreak affects mostly women; Eminem’s 10 years of sobriety; Following a couple — from diagnosis to final stages of Alzheimer’s (great piece on last night’s 60 Minutes).
Pink-only Starbursts are back, and this time with a…clothing line???; Kim Kardashian launching another fashion-focused venture (just days after announcing closing of family’s DASH stores); 72-year-old ‘Catwoman’ Jocelyn Wildenstein back in headlines; A dry shampoo that has a 2,000-person waiting list??; The marketing trick that made Canada Goose a status symbol; Last day, Sephora’s Insider Beauty Sale; Ageless Style: Maye the force be with you.
Electric scooters are flooding California, and they’ll be on your sidewalks…soon??; The Megaformer is the latest fitness contraption celebrities are obsessed with; Study claims vegetarian diet just as effective for weight loss as Mediterranean diet; How Julianne Hough’s diet and exercise routine has changed over past year; Why it can feel so much harder to lose weight if you’re short; New fitness studios that will change the way you work out; A definitive ranking of low-calorie ice creams…
By any standard, January 25, 2013, began like any other for the thousands of traders, money managers and financiers making their way to Wall Street’s canyons that morning, albeit with a snow-dusted commute — the first of the season.
But by 1pm, it wasn’t the wintery weather topping the tape. Rather, it was a public brawl so outrageous and audacious, few could believe what had just taken place. For the better part of the previous hour, investing titans Carl Icahn and Bill Ackman had hurled insults at each other on live TV – on my CNBC program — bringing trading to a near standstill in what some would call the Greatest Moment in the History of Financial Television.
Icahn called Ackman, “a crybaby in the school yard… a major loser.” And worse.
Ackman said Icahn was a bully with a bad reputation.
From Davos to Dallas, mouths were agape.
Thus would begin one of the biggest battles Wall Street had ever seen – a fight to the finish with the multi-level marketing company Herbalife caught in the middle. Ackman had massively shorted the stock, a billion dollar bet that came with a bold claim. Herbalife was a pyramid scheme, he charged, and the stock was destined for the dumpster.
If he only knew who was lurking. And waiting.
Perched high above midtown Manhattan in his office overlooking the most enticing stretch of Central Park, the legend, Carl Icahn had seen enough. Icahn had become one of New York City’s richest men by rarely backing down. He had spent decades dueling with CEO’s and others and was always looking for a score. If that meant a fight, or two along the way, so be it. He had heard of Ackman’s assault, decried his histrionics and couldn’t resist. Icahn quickly took the other side of the trade – payback it seemed for a decade-old rift that had festered for too long.
For five years they would battle. Other A-listers would jump in and take sides.
Wall Street would never be the same.
Neither would Herbalife, which would fight like hell for its own survival. Ackman compared the company to the Nazis, said its CEO was a predator, likening its legions of distributors to near criminals preying on the less fortunate, mostly unsuspecting immigrants.
In the end, the struggle would put the art of activist investing in the spotlight – the methods and objectives of some of the most high-profile money men on the planet. Had all of it gone too far, some wondered?
When The Wolves Bite is the fascinating true story behind the battle of the billionaires, with the book capturing the great lengths two of the world’s best-known investors would go to win, while offering a vivid portrait of the greed, power and ambition that runs rampant on Wall Street.
I wrote this book because I don’t think there will ever be a story like this again – a tale of two egos – two masters of the universe fighting so publicly, so openly and for so long.
Scott Wapner, an award-winning and Emmy-nominated journalist, is currently Host of CNBC’s Fast Money Halftime Report, which airs weekdays 12 pm to 1 pm. When The Wolves Bite, which will be released on April 24th (Pre-order here), is his first book.
Facebook will exclude 1.5 billion users from Europe’s privacy standards; Amazon now has > 100 million Prime members; New England Patriots’ Rob Gronkowski buys stake in namesake Derby horse; Giada De Laurentiis considers opening more fast-casual concepts; Aging becoming major investment theme; Airports using ‘smart glass’ to make you to spend more money; Dwayne ‘The Rock’ Johnson getting into booze business; House flipping on rise; Bed, Bath & Beyond…hope?; KFC’s hot new ad campaign; Target’s Anthropologie-like home decor line; IBMauled; Starbucks Cold Foam; Dunkin’ Donuts coffee ice cream; Old Mason jars $$.