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Wednesday, May 28, 2014

BlackRock's Fink says letter to CEOs triggered angry phone calls, (NYSE: BLK)

BlackRock Inc Chief Executive Larry Fink, who runs the world's largest asset manager, said Wednesday he had fielded angry phone calls after he sent a letter in March to S&P 500 executives warning them about the perils of short-term thinking."I've had some really angry phone calls," Fink said at a New York investment conference hosted by Sanford Bernstein.He did not name any of the callers.In the March 21 letter, Fink warned against relying too much on dividends and buybacks to produce quick returns at the expense of long-term investment.

BlackRock, Inc. (BlackRock) is an investment management firm. Shares of BLK fell by 0.33% or $-1.02/share to $303.61. In the past year, the shares have traded as low as $240.60 and as high as $326.00. On average, 672797 shares of BLK exchange hands on a given day and today's volume is recorded at 74705.