Ever since Thomas Mellon Evans bought bankrupt H. K. Porter, Inc. in 1939, only to convert it into a holding company that in due course would take over more than eighty U.S. companies, an implicit understanding amongst corporate chieftains was growing that gone were the days when their position at the top of their firm along with numerous perks could be taken for granted.


Carl Icahn and T. Boone Pickens were at the forefront of raiders in the 1980s who took it upon themselves to right the powers inherent in the constant struggle between ownership and control, commonly referred to as the agency problem.

Hollywood subsequently captured the Zeitgeist by releasing Wall Street and Other People's Money - two movies that epitomized the growing importance of the activist shareholder.