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the Cary publishing company RH Donnelly was delisted today by the NY stock exchange after the market capitilisation fell below $25m over a 60 day period. Shares were 25 cents today after falling from $33 in January 2008 - it was the NYSE worst performing share for 2008 with a 99% fall in value. Lets hope they get well soon
What a misleading article - I'm not blaming you, Beermat. Does anyone at WRAL do any type of actual research and reporting? I hate the news. I also saw that shares traded as high as $80 in May '07! Not surprising. When's the last time we regularly used phone books?
So what was misleading about the article, Bilirubin? What did they omit? What did they misstate? They appear to have provided info about what led to the delisting. Not sure I understand your gripe.
A CEO whose publicly traded yellow pages business went bankrupt under his watch is leaving with a golden parachute that could be worth more than $15 million.
The agreement betweenCary's Dex One and David Swanson, whose retirement was announced last week and takes effect Friday, includes a $6.5 million separation payment, according to documents filed with the Securities and Exchange Commission.
Swanson, 55, also will receive a pension worth $5.7million, and he is eligible for a payment under the company's 2009 long-term incentive plan that could be as high as $3.5million.
There's more. Swanson is entitled to a portion of this year's annual bonus, which he will receive next year. He will be reimbursed for the cost of life insurance, health insurance, financial planning, and health and country club dues into 2013 or until he gets a job or starts his own business.
Quote: Not surprising. When's the last time we regularly used phone books?
I use mine all the time ... there's this shelf in the kitchen I can't quite reach without standing on something and, well ...
It was quite a fall, Donnelly/DexOne was (is?) in one of those buildings off Weston Pkwy that borders Lake Crabtree.
Frank
Double whammy for Donnelly.
1. Shift to Internet for phone lookups
2. Other phone directories competing with the original Donnelly product
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nice work if you can get it !!
