Bill Ackman, [$11-billion activist billionaire hedgie] on Canadian Pacific [proxy battle]
A snippet from the transcript:
Ackman: "Even if you take the earnings away, they're still reported. the profitability of the company is worse than it was six years ago. the profit margin, the so-called operating of the business was worse.
CNBC: But on you calling BS, if you will, on these numbers, are you prepared to walk that back or do you think the numbers are real?
Ackman: Unfortunately right now we're in the middle of a proxy contest. i don't know who to believe. Let's just stick with the reported numbers. By the way, if I got them wrong, I'm happy to admit I'm wrong.
CNBC: If the numbers are right, you will say you were wrong?
Ackman: Sure.
CNBC: There are a number of reports where the company has asked you to apologize and --
Ackman: if I'm wrong, I'm delighted to apologize. Unfortunately right now, the company realizes they're losing so they want to create a side show out of a technicality.
CNBC: Who do people want? Do people want Fred Green to be CEO of the company going forward?
Ackman: The answer is no. Hunter, by the way, is the most decorated CEO in the railroad industry.
Hunter Harrison and Bill Ackman on Running a Better Railroad
