Best Of FORBES: Carl Icahn Attacks Ebay, Sochi Olympics Wrapup

Feb 24 2014, 3:57pm CST | by

On March 26-28 Forbes will host its first Reinventing America Summit in Chicago, Illinois (click for attendance details), a congress of more than 300 innovators, business leaders, growth-focused policy makers and academics who are helping usher in the next industrial revolution.

“Before billionaire H. Ty Warner got off with probation and community service for evading taxes on $25 million of income from secret Swiss bank accounts, lawyers for the 69-year-old Beanie Babies creator made much of the fact that he had tried to “rectify his mistake” by applying to the Internal Revenue Service’s voluntary disclosure/criminal amnesty program in September 2009 and had been rejected. What hasn’t been previously reported, however, is that Warner later fought handing over records of his foreign bank accounts to a grand jury in a battle that went all the way up to the U.S. Supreme Court” — Janet Novack. Read Beanie Babies Billionaire Ty Warner Secretly Fought Giving Bank Records To Grand Jury

Carl Icahn has fired another shot in his battle to force eBay to spin off its fast growing PayPal division. In an open letter to shareholders, Icahn accuses eBay’s board, namely VC Marc Andreessen and billionaire Scott Cook, of placing their interests ahead of shareholders, and competing directly against eBay” — Steven Bertoni. Read Carl Icahn Attacks Ebay, Marc Andreessen And Scott Cook In Shareholder Letter

“If Mark Zuckerberg was willing to pay $19 billion for WhatsApp — valuing it at around a tenth the size of Facebook itself — he must have a pretty good plan for recouping the cost of all that capital in fairly short order, right? Nope” — Jeff Bercovici. Read Mark Zuckerberg: WhatsApp Was Worth Even More, Doesn’t Need To Make Money

“Vladimir Putin’s $51 billion, two-and-a-half week party is over. The Sochi games are history, and in the scheme of things, pretty much a disappointment. Breakout stars were few. Attention focused on the eye woes of NBC’s Bob Costas as much as it did on any of the athletes” — Tom Van Riper. Read Sochi Wrapup: Breakout Marketing Stars Few And Far Between

Dale Earnhardt Jr. won the Daytona 500 Sunday night after the Great American Race was delayed for six hours and 22 minutes because of rain. It marked Earnhardt’s second Daytona 500 win and comes after three runner-up finishes in the last four years. Earnhardt was one of the betting favorites going into Sunday’s race and he delivered a win that could jumpstart Nascar, which has dealt with sagging TV ratings and attendance in recent years” — Kurt Badenhausen. Read Dale Earnhardt’s Daytona 500 Win Lifts All Of Nascar

FORBES news:

“Every business has its highs and lows. In digital publishing, the swings can be violent. One minute, your site is humming. Seconds later, it’s spiraling to scary places. One minute, the flow of news is routine. Suddenly, it’s anything but that. On Feb. 14, the Syrian Electronic Army did its damage, as it’s done to many others. Seven days later, out of nowhere, came a journalistic coup — our exclusive rags-to-riches tale of Jan Koum” — Lewis DVorkin. Read Inside Forbes: A Tale of Two Very Different Coups — And What’s Next in This Revolution

Source: Forbes Business

 
 

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