grearqakususi1426.blogspot.com
The company’s largest Jack Corwin, confirmed Thursday he has notified the board aboutr his desire to be added to the list of nominees for electionj to the board of directors at thenext “In order to ensure that the interestz of shareholders are regarded as paramount at the Board I have decided to step to the Corwin said. “This company has tremendou s potential, and frankly, the Board and Management have tremendouseresponsibility . . . to its its employees, and its customers.
Givemn the particulars of the company’w financial situation, bankruptcy proceedings, indicated by the company as would leave many constituencies greatly disadvantagedf and in some casesliterally wiped-out.” Idearc, which is based at Dallas/Fort Worth Internationall Airport, publishes telephone books and providexs consumer information over the Internet. Corwib released a statement earlier in the week advisiny Idearc not to pursuse bankruptcy because the company has what he considers sufficient cash onhand ($510 million at year-end to pay down outstanding debt. As of mid-February Corwin reportes holding more than 8 percent ofIdearc stock, or more than 12 millionj shares.
In November, the New York Stock Regulation Inc. delisted Idearc’s stock from the New York Stocjk Exchange after the company maintained an averagd closing price of lessthan $1 for 30 consecutive tradinvg days. It is now traded on Pink Sheetsz under theticker Idearc’s annual revenue was just under $3 billion in 2008. The companh employs approximately 7,200 people nationwide.
No comments:
Post a Comment