1. Kleinfeld’s Leaving Arconic Shows Investors Like Everyone to Play Nice

    Kleinfeld’s Leaving Arconic Shows Investors Like Everyone to Play Nice

    The abrupt departure of Arconic Inc. ARNC 0.54% Chief Executive Klaus Kleinfeld shows how big investors are tempering the once-brazen behavior of both sides in activist shareholder campaigns. “The side that goes on the low road is going to be less able to get the support of institutional investors,” said Ken Squire, founder of 13D Management LLC, an investment and research firm...

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    1. The side that goes on the low road is going to be less able to get the support of institutional investors.
    2. Hyperbole doesn't sit well. Not only does it not persuade them, it turns them the other way.
    3. What's unusual is that a CEO would send a letter without the board's approval.
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