King Icahn

Mark Stevens, Author
Mark Stevens, Author Dutton Books $23 (336p) ISBN 978-0-525-93613-8
Reviewed on: 05/31/1993
Release date: 06/01/1993
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``One of the greatest things I did for the human race,'' Carl Icahn has said, ``was not to become a doctor.'' Instead, this Princeton graduate from Queens, N.Y., became a keen and stubborn corporate raider, who during the 1980s junk-bond delirium parlayed leveraged cash investments into partially controlling interests (and eventually very profitable sales of shares) in such companies as Phillips Petroleum, Dan River, Texaco and TWA. The other high-flyers--Ivan Boesky, T. Boone Pickens, Dennis Levine and Michael Milken--also appear here. In this unauthorized biography, based on research and on ``virtually unlimited access'' to the financier, Icahn emerges as a crafty but apparently straight player, to whom millions of dollars poured in yearly, until the U.S. Congress called a halt to junk-bond-financed leveraged buyouts in 1991. Like a taut novel, this page turner grips the reader as Stevens ( Sudden Death: E. F. Hutton ) dramatizes Icahn's financial gambles and acerbic treatment of top management figures, whom he often accuses of poor and despotic performance to the detriment of stockholders. (June)
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