Entrepreneur & Investor.
Entrepreneur & Investor.

Issue #37: Icahn Firing 12 Floors of People

NOTE: this was a past issue of my weekly newsletter, Timeless Gems. Join my free mailing list so you don’t miss out on future issues.

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Today’s gem is this 8-minute video of Carl Icahn explaining a story in which he fired 12 floors of employees at a company he acquired. The business is a railcar manufacturer called ACF, a business he’s owned for 31+ years (and still owns today).

I’ve said this before and I’ll say it again, Icahn is a walking/talking gem. Excellent storyteller, and genuinely funny. I promise you, the video is worth the 8-minute watch for entertainment purposes alone.

At Atlasview Equity, we come across businesses with bloated staff all the time. It’s quite common in the software/technology world. This should be no surprise to anyone given the mass layoffs happening everywhere in the tech industry.

Despite how easy Icahn makes it sound, firing a lot of people is a difficult task fraught with all sorts of risks and costs. For Atlasview to acquire a business that requires a large layoff, we’d have to be heavily compensated for taking on these risks/costs (aka a large price reduction on the business). But at the right price, it can present an attractive opportunity and drive a great ROI for investors.

If you’re interested in investing alongside Atlasview Equity in these types of opportunities, please fill out this form (must be an accredited investor).

P.s. I’ve previously featured Icahn and a board meeting situation in a prior issue.