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Icahn Shares Insights at LeBow Commencement Ceremony

June 18, 2008

At LeBow College of Business' June 14 Commencement Ceremony, 375 undergraduate students, 148 MBA students, 15 MS students, and eight Ph.D. students officially graduated from Drexel inspired to "Learn Here, Lead Anywhere" with a comprehensive understanding of the emerging needs of the global marketplace.

Mr. Carl Icahn, one of the most influential investors in the nation, served as the graduation speaker. He was also awarded a Doctor of Business Administration honoris causa at the event.

"We today are in a crisis in our economy, I believe... One of our major problems in this country is management and their ability to compete," Icahn said. "With exceptions, we have terrible management in this country. The system is dysfunctional. I can't tell you how bad our boards are, with exceptions, of course."

"I sit on a lot of boards. I don't have to watch Saturday Night Live anymore," he joked, "I just sit in on the board meetings."

He also gave graduates some advice. "You have to learn something ... and whatever it is, do it on your own if you can, but learn something better than anyone knows it, no matter what the specialty," Icahn said.

His comments certainly left a lasting impression, and stories about his appearance were featured in The Philadelphia Inquirer and The Associated Press.

The AP story ran on 94 Web outlets including Yahoo News, AFX International (Asia, Europe), CNBC, CNN Money, Forbes, Washington Post Online, Canadian Business and the San Francisco Chronicle.

Mr. Icahn was also interviewed by one of our very own graduates, CN8's Mary Caraccioli, host of Money Matters Today, who graduated from the Drexel Executive MBA program. The interview was broadcast on CN8 June 16.


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