You’ve got to hand it to Carl Icahn. He knows when to take his dividends and go home. And he even manages to pat himself on the back on his way out the door.
The corporate raider who has profitably recast his image as an activist investor watching out for shareholders’ best interests is abandoning his attempt to squeeze more cash out of Apple Inc.'s overflowing coffers. One of the reasons: a negative response from proxy adviser Institutional Shareholder Services Inc., whose recommendations carry a lot more weight with pension funds and other big institutional players than anything Mr. Icahn has to say.