Corvex/Related with another tweak of the Portnoys


"Since a picture is worth a thousand words, we invite shareholders to click here," write Corvex and Related, updating their presentation on CommonWealth REIT (CWH +1.3%), with the clickbait being a chart of returns of Sam Zell-chaired REITs vs. that of CommonWealth, and vs. the cumulative fees paid to the Portnoys' management company since 1997.

The Cliff's Notes: Fees to RMR is the winner, with the performance of Zell's REITs impressive, but finishing 2nd. Aways back in 3rd is the common stock of CommonWealth.

Corvex and Related have delivered a formal request for a record date for their consent solicitation and say the action will be completed no later than March 20.

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