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Last week, on May Day no less, investors in Furniture Brands International (FBN), the furniture company whose brands include Thomasville and Broyhill, appear to have elected three directors proposed by activist investors, Sun Capital, which owns about 9.5% of FBN’s shares. Sun offered to buy the company, whose stock has declined sharply since 2002, back [...]
It must be nice to get a raise before you even start your job. Congratulations to Stephen P. Joyce, who received one the day before his official arrival at Choice Hotels International (CHH).
Back in March, Choice announced that Joyce would become President and COO starting May 1. (He’ll ascend in October to the CEO post, [...]
When Steven Madden Ltd. (SHOO) first announced the exit of CEO Jamieson Karson in March, I didn’t think much of the boilerplate in the 8-K stating that
Mr. Karson’s resignation was not the result of any disagreement with the Company’s operations, policies or practices. For the purposes of determining any payments to which Mr. Karson [...]
Some say any publicity is good publicity, but the folks at Morgans Hotel (MHGC) may disagree. Since former CEO Edward Scheetz was associated with a young woman’s unfortunate death last year, Morgans has been in the press’s sights. When Morgans was footnoted here in December for agreeing to spend $30K per month on NYC digs [...]
Motti Lichtenstein, CEO of the IDT Telecom subsidiary of IDT Corporation (IDT), departed on April 1 “to pursue other business opportunities” (press release here). If I were Mr. Lichtenstein, I’d be in no rush to find those opportunities, given the nice post-separation deal he and IDT have cooked up. (IDT has been a bit [...]
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