Billionaire activist investor Carl Icahn doesn’t like big government—except now, that is.
Speaking at a small gathering of hedge funds and attorneys last night, Mr. Icahn said that federal funds should be used to bail out automakers, specifically General Motors, which he said has been crippled by exorbitant union contracts and even more wasteful management.
“Now I’m not a union guy…[but] it’s up to this company to really cut the hell out of costs. And they try and try, but they can’t. They have too many layers of bureaucracy,” he said, noting also that executive compensation at the company was too high. “I mean, God knows how many airplanes they have.”
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