put in motion by martin franklin's actions the only poor governance that's taken place relates to theisions of those directors who were unsuccessful in making their case to the rest of the board. abruptly resigned their duties and somehow secured activist support on the very day their resignations were made public. they go on to question to a certain extent mr. conroy who was very supportive on the board and then suddenly steps off. citing financial ties of some kind this fight has only just begun, jim, between this company and jeff smith and martin franklin >> what do you think about the money commitment that these -- i've got to call them distance $25 million. this is going to replace broadcom/qualcomm as personal and ugly >> i hope so >> i'm going to miss broadcom/qualcomm. truth be told. i'm going to miss it >> it was the worst -- >> you were against -- i loved it and then the cfius thing was so fascinating. and now it's over. so, yeah, that's sad for me but we're going to move on and maybe newell will be the fight we need >> is "general hospital" still on it was a rival then. >>

martin franklin who sold jordan to n to. >> newell i think martin franklin got to be pleased i thinkthe type of thing that martin franklin wants to see. maybe this thing is dying down >> so they got four out of nine board seats total. >> why didn't you mention on the carl icahn, these are all icahn's picks. sometimes he gets in and creates a positive reaction and this is what i think the company earnings to be paired by some real issues, like the problems at toys r' us , these guys are not any good at their jobs they had some end markets. >> this is a sort of support of what was going on but once ak s accelerated in change management >> a new chairperson as smart as campbell is welcome. when you are selling at toys r' us and you got businesses like yankee candles and don't seem to be working >> it continues to be the focus of various actors and investors. we'll talk after the opening bell the opening bell right now s&p 500 at cnbc. here is the big board. kelly services of our work force provider and evoqua around about 4.0% right now for the s&p 500. >> so our markets are not as bad.

. >> one of the things that martin franklin talked about was on shore. rtin is eloquent on on shoring of the part of new rubber made of what he bought from jordan. >> the reason i mention newell is we got all of the directors that star board is nominating to take over the entire board, they nominated all of them. i don't know if you had a chance to review them and a letter from the company from starboard this morning. although kind of not necessarily indicating that he's going to be wholly in with the activist here, icahn, in his comments to scott. as for starboard, the company's performance continues to worsen. they go on from there who may expect to indicate why they should believe is a whole new board. >> it was a $50 stock. it was doing really terrific and johns johnson' johnson's, apart of the overall prestige that martin franklin has built. a lot of sporting goods though sporting industry has had a lot of turn down it got gun issues. this is one where the numbers are still too high let's be careful if you are buying a stock if it is downgraded today

we had a situation in newell where you had starboard go public with martin franklin and you had icahn. you can have multiple activists. >> so you have a new ceo already. they have nelson peltz involved. why isn't that enough? why would you want now another campaign going on? is this a company that looks like it needs more distractions? >> it comes in at the preferred level. >> different story i agree. >> we aren't disagreeing i'm saying the details matter. if he were to do that which is what he did ten years ago, it doesn't mean he has to be a director does he have a seat at the table? yes. he doesn't have to go head-to-head with peltz or anyone else. most importantly, the reason he doesn't have to is because the preferred comes with a coupon that gets paid before any dividend on the common shares. last time i think it was an 8% coupon i haven't had time to look back. maybe somebody remembers it's a meaningful coupon >> kevin, you really think this thing is going under ten bucks >> yes yes, i do. i don't think warren buffett will touch this. he doesn't play the game of overpaying for

and martin franklin is in there too, together. >> yeah. >> right >> and they have really basically differentiews on where this company should go i believe newell itself is undervalued and that's why i bought it. you know, the stock went down from 55 to 25 or something when we got into it and i do think that there's potential because these brands are another area in the retail business that i think will still survive and, in fact, get even more profitable so i give him more than that about it i really have not determined which way i'm going to go in it. i do have a large position but obviously -- >> can we say it's not yet 5% obviously? >> 5% is a lot in that company, obviously, it's a big company. but i think i have one of the larger positions a few institutions have more and they're going to be instrumental in stadeciding who wins it. >> does it make a difference to you that starboard and mr. franklin are already waging a proxy fight against the company? they want the whole board out. they want the ceo out. how does that effect the way you think about what may happen? >> well, i mean, i don

. >> and i believe kind of aligned with the martin franklin, the other activist essentially trying tocture in there. >> he ran, jarden? >> yeah. >> sold to them. >> now looking at undoing a lot of that. we'll see with newell brands. >>> financial secretary hear significantly underperformed the market since the collapse of bir sterns ten years ago today the fast money trade whether to focus on financials now. >>> plus, toys "r" us getting ready to liquidate because of massive debt taken on more than a decade ago what that ans mefor the future of leveraged buyouts stay with us hey, what are you guys doing here? we're voya. we stay with you to and through retirement. so you'll still be here to help me make smart choices? well, with your finances that is. we had nothing to do with that tie. voya. helping you to and through retirement. today, innovation in the finger lakes is helping build the new new york. once home to the world's image center, new york state is now a leader in optics, photonics and imaging. fueled by strong university partnerships, providing the world's best talent. and

necessarily going to come forward, in the form of starwood coming after the entire board and martin franklinld his company on the board, stepped off dramatically, icon is in there. reports this morning indicate that that's the case and it has been the case. look, he's coming up i didn't even know what do you know, scott wapner to talk a bit about this but he was trying to figure out whether or not he was going to be the activist in new ell and step back but owns a good amount of shares and that's sending the stock higher this morning. >> do we know kind of going in line with more or less. >> following that effort >> yeah. >> he's aligned more with those who would say the performance poor and the performance the under lying biszs not actually the businesses they bought at newell have not been what they want this is going to be a big fight. they haven't set a meeting date yet and not like newell will set there and there's the board, take over. we'll have a lot more as this goes on. >> i'm sure he'll dment on ackman closing a chapter on herbalife, another line of questioning for the judge and c