Let's see, if Icahn fails that means Xerox workers get hurt further. Yeah -- great. Icahn is the guy that matters only after a company falters, is unable to manage itself and be successful. Don't blame Icahn, this is what he does -- blame a culture that has lacked vision for many years and has produced a pattern of failure and loss of value.
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His position is Common Stock that was purchased on the OPEN market...so, he is susceptible to price fluctuation just like anyone else. But, in the new thread I just posted, you will see that his investment in Xerox makes up 2.3% of his portfolio...so, I think he'll be just fine.
Actually - if it is guaranteed preferred stock, I don't think the common stock price matters. I would love to see it blow up in the Predator's (Icahn) face. But not at the expense of my former colleagues. Be well and be strong everyone.
Karma.