“The escalating presence of shareholder activists gives me heart palpitations. What benefits equity investors is to the detriment of investment-grade bond investors.” Gary Cloud of the investment firm FCI Advisors, reacting to the news that Moody’s might downgrade Commonwealth REIT depending on the outcome of the real estate investment trust’s battle with Keith Meister’s Corvex Management, the real estate firm Related Companies and Sam Zell for control of the board.
