Hedge funds, activism, and the new Chuck Norris paradigm

Hedge funds are flexing their activist muscles. They're not flexing them quietly in the privacy of their own boardrooms anymore, though - 2006 may be penned as the year activist funds willingly burst out of the closet, a-kickin' and a-screamin' like Chuck Norris in Way of the Dragon, knuckles flying in a frantic flurry.

However, unlike Chuck Norris, the funds are not trying to pull tufts from the hirsute chests of the Bruce Lee-corporate managers they are taking on. Their battles are being fo