On August 4, 2009, two large Pepsi bottlers were purchased by Pepsi Co. Pepsi Co reason that to achieve higher flexibility and faster product testing and distribution, it should have control over the bottler. Coca-Cola, a company with long-standing strategy of separating its bottler from its concent...

Intelligent Speculation in TRUE Corporation    High leverage in a companys capital structure have long been known to introduce a highly speculative component into a companys common stock, the more so if the common stock represents only a sliver of value compared to the funded debt. In the case of hi...

Note the unfair treatment accorded to stockholders in the case of Greenlight capital: GLRE's float for investment is managed by Einhorn's independent fund, which charge 20% of profit, 1% of asset. Thus, by holding only 30% in GLRE, Einhorn achieve control over the float that is directed to his own 1...