Ann Arbor Weather:
Sunday October 22, 2017
Follow us: facebook twitter RSS feed
Print Comment E-mail

Family Feud

 

continued

Asked what happened, Hess answers with a succinct email: "Complete turnover of top management, substantial inflows of cash from the fall of 2007 through the spring of 2008, Herrick lawsuits, proxy battles, and so on … and then throw in the biggest economic downturn in decades for good measure."

For Buker and the board, though, there is one upside to the depressed stock price: it's so low that the Herrick family is no longer eager to liquidate.

That doesn't mean, though, that they've abandoned their effort to shape the company they created. If anything, the conflict has grown more complex and bitter.

The next round in the ongoing fight will take place at the company's annual meeting this month. Both sides have nominated slates of four directors-so that whoever wins will control the seven-member board.

Whoever wins will then face the challenge of leading Tecumseh Products-not just from Tecumseh to Ann Arbor, but further, into the treacherous, fast-changing global economy.    (end of article)

[Originally published in May, 2009.]

 

Bookmark and Share
previous  ·  1 l 2 l 3 l 4 l 5 l 6 l 7 l 8
all on one page
read more stories here -> Marketplace  l  Culture  l  Community  l  News

You might also like:

Less Stuff, More Happiness
Finding meaning in cleaning
Cynthia Furlong Reynolds
Spectator Sports
A Family Story In The Digitized Michigan Daily, by Tim Athan
Trace Bundy
The Acoustic Ninja
James M. Manheim
Make Way for Drones
A new facility drives weather watchers off campus.
Michael Betzold
Nightspots: Tap Room
Restaurants - American
Photo: Toyota Takes on Two
Restaurants with Diapering Facilities
A clickable zoomable map
The Price of Security
Stopping truck-born terrorists raises event costs.
James Leonard
Regent Hotel
Senior Living Communties 734-677-0071
A visitor's guide to Ann Arbor