William Ackman

William Ackman is a major investor and hedge fund manager of Pershing Square Capital Management LP. [cite web |url = http://findarticles.com/p/articles/mi_m3190/is_51_39/ai_n15967751 |title = Having words with William Ackman: founder, pershing square capital management|accessdate= |format= |work=] As of December 2007 his funds own a 10% stake in Target Corporation, valued at $4.2 billion. [cite web |url = http://bloomberg.com/apps/news?pid=20601087&sid=ad2tlfp2uNZw&dlbk |title = Ackman Boosts Target State |accessdate= |format= |work=]

Pershing Square

Pershing Square Capital Management has in the recent past acquired positions in Wendy's International Inc., McDonald's Corporation and Ceridian Corp., pressuring management of those companies to improve profits by cutting costs or selling divisions. [cite web |url = http://www.smartmoney.com/bn/ON/index.cfm?story=ON-20070716-000196-0759 |title = Hedge Fund Amasses Big Stake in Target|accessdate= |format= |work=]

WMAC Investment Corp., a subsidiary of Leucadia National, is the largest backer of Pershing Square Capital Management L.P., a Delaware-incorporated investment partnership. William Ackman is the founder of the $300 million+ activist hedge fund Pershing Square. The Fund had 40%+ returns over the past 2 years.

MBIA activities

In 2002, Ackman began research which concentrated on challenging MBIA's AAA rating, despite an ongoing probe of his trading by New York State and federal authorities. He was charged for copying 725,000 pages of statements regarding the financial services company in his law firm's compliance with a subpoena. [cite news |url= http://www.bloomberg.com/apps/news?pid=20601109&sid=a7.NpGwa19TY&refer=home |title= Ackman Devoured 140,000 Pages Challenging MBIA Rating |first= Christine |last= Richard |coauthors= Katherine Burton |work= Bloomberg |date= January 31, 2008 |accessdate= 2008-02-22] Ackman has called for a division between MBIA's bond insurers' structured finance business and their municipal bond insurance side, despite statements that this would not be a viable option. [cite news |url= http://money.cnn.com/2008/02/20/news/companies/mbia.ap/index.htm?postversion=2008022018 |title= MBIA: Call to divide not viable |work= CNN |dat February 20, 2008 |accessdate= 2008-02-26]

References