Corporate raider, Carl Icahn has given up an attempted takeover of the Clorox board of Directors. Icahn wanted to get himself, his son and nine other people elected to the board, but realized that he did not have enough investor support for this move.
Interestingly, the Director of Growth Equities at GAMCO Investors Inc., Howard Ward, said that consumer stocks such as Clorox, General Mills, Proctor and Gambles and Colgate are solid investments right now and pay dividends. We see that Clorox’s stock has held gone up a little and is paying dividends regularly.
The company is well run. In the words of Michael Costello, the General Manager of the International Division, he uses “feed-forward” instead of feed-back to manage the company. He explained that the managers are responsible for accomplishing strategic goals, even though they don’t make all of the decisions. This is an impressive perspective and for Micheal Costello it works well.
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