The billionaire’s investment firm lost $4 billion on a drug company. Its stake in a burrito maker went south. J.C. Penney Co. has been a disappointment and Ackman was forced to shift strategy on Herbalife Ltd., which hasn’t tanked like he said it would. The latest fail is Automatic Data Processing Inc. Shareholders rejected the three board candidates put forth by Ackman’s Pershing Square Capital Management, including Ackman, the company said. Instead, they handed victories to Chief Executive Officer Carlos Rodriguez, who during the proxy campaign called Ackman “a spoiled brat” and accused him of negotiating like “a used-car salesman.” ADP said Pershing’s candidates each received support from less than 20 percent of outstanding shares and less than 25 percent of the shares voted at the Roseland, New Jersey-based company’s annual general meeting Tuesday. Ten candidates favored by management won. “That’s really shocking,” said Kai Liekefett, partner and head of shareholder activism at Vinson & Elkins. “That might spell the end of Pershing Square and Bill Ackman as we know it. He has had a really difficult run over the last couple of years.” http://www.bacheldremill.co.uk/CFIDE/uggs,ugg boots outlet,

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