The N.Y. Times: A Healthy Flush For The Gray Lady
How many times have you heard some variant of this story? A venerable old company is tightly controlled by one family. It's run by a septuagenarian who hasn't named a successor and has been disinclined over the years to run the company in a manner that makes public shareholders happy--or rich. Customers have been abandoning its main product for years. The company said goodbye to an ambitious president--the first nonfamily member to hold that post--with little explanation and a fat severance check.
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