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Behind Greenberg Contest With Comcast's Roberts

January 22, 2008 | About:

Last fall, Wall Street money manager Glenn Greenberg kicked back in his orthopedic recliner and composed a letter of complaint to Comcast Corp. CEO Brian Roberts. A onetime squash champion, Mr. Greenberg used a sports analogy to appeal to Mr. Roberts, also an avid squash player.

"I know you are a competitive guy, as am I: I once had a number four U.S. squash ranking, so I know that you care about winning and are willing to push yourself hard to be a winner," he wrote in the letter, which went on to lay out a series of complaints about the cable company's performance. "You think you are hitting beautiful strokes, but you are losing the game."

The letter led to a frosty exchange that culminated in Mr. Greenberg's investment firm, Chieftain Capital Management Inc., demanding Mr. Roberts's ouster in a letter to Comcast's board that became public Thursday. Chieftain is one of Comcast's largest institutional investors, with 2% of its outstanding stock, valued at just over $1 billion.

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Rating: 3.2/5 (17 votes)

Comments

chihin
Chihin - 8 years ago
Does anyone have access to the actual Chieftain letter? I have done an extensive search online and can't seem to find it anywhere. Thanks.

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