Required reading for anyone following the current battle between financier Carl Icahn and Time Warner. This article focuses on Icahn’s growing arsenal of financial weapons, namely a very prominent and prestigious investment bank, Lazard which is now his allay in getting Time Warner to change its ways to dramatically increase its share price. The problem, of course, is that corporate raiders such as Icahn want to turn a quick profit, whereas the management might be more interested in pursuing a long term strategy, which is a leitmotif of this entire saga.

