What is wrong with hedge funds taking an activist approach to corporate management? When Deutsche Börse CEO Werner Siefert was ousted in May, for example, German chancellor Gerhard Schröder called for an immediate three-month investigation, and the chairman of the ruling SPD, Franz Müntefering, branded the hedge funds responsible as “locusts”.
Now that auto maker DaimlerChrysler looks set to experience the same no-nonsense attitude from activist hedge funds (why not just call them shareholders?), the SPD is up in arms again.
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