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(FINANCE) someone like Carl Icahn or Victor Posner; a manager of a PE fund or takeover vehicle (e.g., T. Boone Pickens with Mesa Petroleum) who organizes hostile takeovers of undervalued corporations.
WHY THEY'RE BAD
Corporate raiders insist they're looking out for the shareholder by forcing the managers to focus on increasing the value of the firm. If a company's share prices are high, it supposedly reflects well on the management of the firm; if the prices are low, the shareholders presumably would benefit from the takeover battle and subsequent change of management.
The flaw in this argument is (a) shareholders are not the only stakeholders in the corporation; workers, neighbors, and consumers also have interests that deserve protection; and (b), the impact of the corporate raider on FUTURE shareholders is inherently damaging over the long run because the targeted corporation's share prices are driven to a higher baseline anyway. After the takever battle between the raider and management, FUTURE buyers of the stock pay a higher price but are stuck with stagnant share prices because further increases don't make economic sense.
If the leveraged buyout succeeds, the company is saddled with debt in excess of its book value, which imposes an extreme burden; if it fails (greenmail), then company is still saddled with immense debt.
WHY THEY'RE BAD
Corporate raiders insist they're looking out for the shareholder by forcing the managers to focus on increasing the value of the firm. If a company's share prices are high, it supposedly reflects well on the management of the firm; if the prices are low, the shareholders presumably would benefit from the takeover battle and subsequent change of management.
The flaw in this argument is (a) shareholders are not the only stakeholders in the corporation; workers, neighbors, and consumers also have interests that deserve protection; and (b), the impact of the corporate raider on FUTURE shareholders is inherently damaging over the long run because the targeted corporation's share prices are driven to a higher baseline anyway. After the takever battle between the raider and management, FUTURE buyers of the stock pay a higher price but are stuck with stagnant share prices because further increases don't make economic sense.
If the leveraged buyout succeeds, the company is saddled with debt in excess of its book value, which imposes an extreme burden; if it fails (greenmail), then company is still saddled with immense debt.
Usually a corporate raider makes his killing by risking (and mostly losing) the money of other people.
He usually quotes Ayn Rand bromides about his adversaries being moochers and wreckers, but he destroys the livelihood of thousands, and he makes his fortune through ambush.
He usually quotes Ayn Rand bromides about his adversaries being moochers and wreckers, but he destroys the livelihood of thousands, and he makes his fortune through ambush.
by Sorry, the good guys lost September 4, 2010
Get the corporate raider mug.a serious but funny,book and street smart male that carries himself with confidence.At first, he may be reserved but as one gets to know him,he can open up and be that loyal and honest friend that everyone needs in their lives.Roddericks are unique, they can be calm and collected or the loud opinionated person depending on their mood.They love to have fun, even if it is by themselves
Erykah:I was at this party the other night and it was so dead.I mean the music was playing but no one was dancing.
Brittany:So did you leave?
Erykah:I was about to when this handsome stranger walked in with a few of his friends and pulled me to the dance floor
Brittany:Sounds like a Rodderick?
Erykah:Yeah,he was and then the party really began
Brittany:So did you leave?
Erykah:I was about to when this handsome stranger walked in with a few of his friends and pulled me to the dance floor
Brittany:Sounds like a Rodderick?
Erykah:Yeah,he was and then the party really began
by The rodd dogg December 21, 2016
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Get the Rudderdick mug.A significant other who gets ahold of your cell phone to check your text messages. Usually causing a fight after seeing who has been texting you.
Dave: I have to delete all these messages from Sarah!
Jon: Why?
Dave: My girl is an Inbox Raider! I know she will start a fight.
Jon: Why?
Dave: My girl is an Inbox Raider! I know she will start a fight.
by Skientz January 28, 2009
Get the Inbox Raider mug.When you have that one friend on a night out that always seems to pick a fight with a homeless person to make the night end with a bang. It's never their fault, the tramp was always 'coming at them'.
by Jumbo01 September 1, 2018
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