Intro -- Contents -- Preface -- Chapter 1. Finance, Accounting and Corporate Objectives -- Corporate Objectives -- Managerial Finance -- The Finance Managers -- Time, Risk, and the Risk-Return Trade-off -- Three Basic Generalizations -- Relevance of Cash Flows -- Cash Flows versus Earnings -- A...

In August of 2005, Carl C. Icahn announced to the press that he wanted Time Warner to spinoff (or more accurately to sell) its cable unit and then to repurchase $20 billion of its stock. The Icahn group owned less than 3 percent of Time Warner's outstanding stock (about 122,000,000 shares)....