Philadelphia Inquirer- The lousy January start for the U.S. stock market is giving activist hedge funds plenty of company in the misery they see.
You don’t have to look far for local examples. Comcast Corp. and its chairman and CEO Brian L. Roberts have come under withering criticism from a hedge fund that owns about 2 percent of the cable company’s shares.
Chieftain Capital Management Inc. sent a letter to Comcast’s board of directors in which it called for the ouster of Brian Roberts as CEO. It also wants the board to change the company’s voting structure, under which the founding Roberts family keeps control with 33 percent of the voting power while owning about 1 percent of the shares.
