Lake Martin Topics: Sold short of $600M
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Name:
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HoosierDaddy
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Subject:
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Sold short of $600M
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Date:
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4/19/2006 8:08:00 AM
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About 2 thirds of that will go directly to two shareholders who own the majority of the stock (and shall remain nameless, by me at least).
Russell selling for $600M basically means the end was very near anyway. There are small businesses worth $600M.
I am only saddened by the fact that Miss Edith isn't around to see it. She saw the inevitable demise when the "new regime" took over a few years back, and she gave them hell fighting for her company, and what she knew was right and honorable. Thanks to Edith, and Edith alone, Russell was, and always will be, an Alabama-based corporation. Had the powers that be had their way, they would have moved their incorporation to Delaware a few years ago. Miss Edith knew that was wrong, even though it would cost the corp more in taxes, and she alone stopped the move.
I miss you, Miss Edith.....and they stuck it to themselves really good :)
RIP :)
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