Billionaires ask for change at Family Dollar.

• Position: UNDER FIRE

In June, Carl Icahn revealed he has a 9.4% stake in Matthews-based Family Dollar Stores Inc.--and a beef with it that fellow billionaire investors Nelson Peltz and John Paulson share: They think rival Dollar General Corp. is better managed. Family Dollar's board responded with a poison pill to deter a hostile takeover. It's triggered when an investor owns 10%.

"All it does it make it more difficult to have a friendly dialogue," the corporate raider told Reuters, "wlaich we already are planning to have." Deutsche Bank analyst Paul Trussell sees three likely...