Dear Mr. Icahn

Carl Icahn is well known for activist investing, most recently involving Yahoo and Motorola. Aside from the private investment partnerships that he manages, he also controls a publicly traded entity called Icahn Enterprises L.P. (IEP). The former name was American Real Estate Partners, L.P. The stock is down 50% since the beginning of 2008 as you can see below. Yahoo is also down, of course, but a more respectable 15%.



It is possible that an activist investor might turn the tables on Icahn and agitate for change at IEP? Unlikely, since I'm sure that Icahn was smart enough to structure IEP so he has majority control.