GateHouse's CFO has recently resigned leaving the VP of investor relations to take his place. It would be easy to speculate on some potential personal reasons:
1. Didn't personally like filing for bankruptcy
2. Personally knew when the payroll checks would start bouncing, most notably his personal one
3. Got tired of the personal strain that watching a company crumble can take upon one's personal life.
Seriously, I wish him well, and #3 is more real than I can relate.
The notable element is his replacement. Hired this March, he comes from outside the industry with a background in banking and accounting. I have a feeling his big job will be convincing creditors to renegotiate their terms in advance of default. Good luck on that.
Tuesday, August 26, 2008
Subscribe to:
Post Comments (Atom)
Posts
0 comments:
Post a Comment