Don’t Let the Door Hit You On The Backside When You Leave

Stacks Of Money

Proving once again just how wacky Wall Street can be, almost at the same time we posted this week’s issue of PlaneBusiness Banter, the news came over the wires that the FL Group — the hedge fund that is, er, was AMR’s largest shareholder, and the one that has been making all the noise about how AMR needs to “maximize shareholder value” issued a release today — saying it had slashed its position in the airline from 9.1% to 1.1%.

The fund said in a statement this afternoon that while the divestiture of Eagle is a move in the right direction,  AMR’s “lack of clarity over timing, terms and valuation” of shedding Eagle “has done little to enhance value.”

First, I agree with what the FL Group said.

But secondly, I’m glad they have taken their monopoly money and gone elsewhere.

Ticker: (NYSE:AMR)

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