I am not sure how many readers of this Blog have been following the Carl Icahn attack on Time Warner. Icahn is a famous and wealthy corporate raider going back thirty years who is worth billions. Recently he has purchased about 3% of Time Warner's stock and is now demanding many management and operational changes at Time Warner. He has also indicated that he plans to attempt to gain seats on the Time Warner Board of Directors.

Perhaps Icahn has some good points about overall management and operational changes at Time Warner. But when it comes to his criticism of the AOL-Google alliance, Mr. Icahn is out of his depth and certainly out of his league. He stated yesterday that "...I am deeply concerned that the Time Warner Board may be on the verge of making a disastrous decision concerning an agreement with Google if this agreement would make it more difficult in any way or effectively preclude a merger or other type of transaction with companies such as IAC/Interactive, eBAY, Yahoo or Microsoft etc., etc...."

I of course do not know the details of the AOL-Google deal, but highly doubt there is a negative in it for any Time Warner stockholder. Also, if in fact Time Warner is only surrending 5% of its ownership position in AOL, clearly this deal shapes up as huge win for Time Warner stockholders and thereby Mr. Icahn.

Mr. Icahn may know how to assess most companies, but certainly he knows nothing about the Internet. I suggest that he pick on some other aspect of Time Warner. The AOL-Google deal appears to be a big win for Time Warner stockholders and should make Time Warner a much more valuable company in coming months and years.