On news that legendary corporate raider Carl Icahn will attempt to push Time Warner to sell or spin off assets (e.g. its publishing or cable TV units), James Altucher of TheStreet.com weighs in on what it all means for Time Warner shareholders:

"I give Icahn credit for kick-starting the conversation. Time Warner stock has not moved in more than two years, while the rest of the market has gone up significantly, and earnings and revenue have improved in every division. Perhaps a breakup is best or perhaps Parsons is correct to not spend too much energy in financial engineering and to instead focus on bottom-line results. Either way, Icahn wins."

An interesting side question, of course, is: What will happen to AOL if Icahn manages to break up the entire Time Warner juggernaut?

Anyway, Newsday has a great breakdown of all the companies that Carl Icahn raided and greenmailed during the 1980s, while the Financial Times has commentary on whether Carl Icahn will be able to "dislodge value" from Time Warner. (Hint: "Shake a tree hard enough and something might fall out")