Icahn Lambastes Corporate Culture, CEOs

June 16, 2008 7:11:57 AM PDT
Billionaire financier Carl Icahn says he no longer has to watch "Saturday Night Live" if he wants a good laugh. He just has to go to a company board meeting. He was applauded during his commencement address at Drexel University when he said, "Sooner or later, we're all going to be run by morons."

The speech at the private Philadelphia college was a rare public address for Icahn, a 72-year-old investor-activist who has been the thorn in many a CEO's side. Though lambasted by critics as a corporate raider, Icahn has also won praise for fighting for shareholders' interests in a climate that has turned more critical of corporate management.