Carl Icahn thinks suppliers of pork to McDonald’s are treating their pigs badly, and the 86-year-old investor wants two board seats to push for more humane treatment. The $190 billion fast-food chain may deserve an activist. But Icahn is reading the wrong menu.
, a maker of casings for products like hot dogs. McDonald's suggests Viskase's pig welfare commitments fall short of its own.Third, Icahn has more familiar fodder to focus on. Though other fast-food outlets have done worse, McDonald’s shares have returned about half the 250% investors have made on Chipotle Mexican Grill
stock over five years, including dividends, after investor Bill Ackman got involved. That's a gap that could make an activist hungry.
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