Word: profits
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...Taiwan's electronics makers thrive in anonymity, however. The relentless decline in tech hardware prices is putting pressure on the bottom line?profit margins on a Taiwan-made notebook PC, for example, have fallen by half, to 5%, over the past three years. Caught in the big squeeze, Taiwan's tech companies "can't just fly under the radar anymore," says Flint Pulskamp, an electronics analyst at consulting firm IDC in San Mateo, California. "If they're going to survive, they need to step out and get recognition for their brands...
...Last month the company's stock began moving into some well-known hands. Among the buyers: Robert Holmes à Court, an Australian investor; T. Boone Pickens, the Texas oilman-raider; Irwin Jacobs, the Minneapolis entrepreneur and speculator. Pickens reportedly cashed in his chips two weeks ago for a big profit. Icahn, on the other hand, continued to buy. Last week he announced that his holdings had reached 11.4% of USX and were still climbing. Said Icahn: "We have made a serious offer...
...speculative stock buying and takeover rumors, the company headed by Chairman David Roderick, 62, faced an $8 billion buyout offer from Carl Icahn, 50, chairman of Trans World Airlines. At week's end it was unclear whether Icahn sought control of USX or merely wanted to pocket a hefty profit for his efforts...
Icahn, who may have already earned a paper profit of up to $400 million on his stock, insisted that his purchase offer of $31 a share was not intended to force USX to buy back his holdings at a hefty premium. Instead, he claimed, his objective was a takeover followed by a cost-cutting program and a deal with the striking Steelworkers that would boost the company's profitability and its share price. Icahn challenged management to come up with its own restructuring plan to boost the value of its stock...
...first half of this year. But after a series of hard-nosed measures, including victory in a three-month strike by TWA's 6,500 flight attendants, Icahn was able to announce earnings of $72 million for the third quarter of 1986. He has promised an unspecified profit for the fourth quarter. If he delivers, it will be the first time TWA has finished that period in the black since 1966. Even so, says J. Clarence Morrison, a senior analyst at the Dean Witter Reynolds investment firm, the "question is whether Icahn's plate is now getting too full...