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Select Comfort stakeholder seeks new CEO
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Clinton Group, a 7.73 percent stakeholder in Select Comfort Corp., sent a letter to the board Monday calling for the replacement of Chief Executive Officer Bill McLaughlin and revision of the company's marketing strategy.
In the letter, disclosed in a filing with the Securities and Exchange Commission, Clinton Group also expressed disappointment that the Minneapolis bed retailer declined the shareholder's request for two board seats.
Clinton Group suggested that Select Comfort revise its marketing strategy to refocus on direct marketing and immediately cease all new store openings and unnecessary capital expenditures until sales improve.
Shares of Select Comfort closed Monday at $2.35, up 3 cents.
DOW JONES NEWS WIRES
Gabelli funds report stake in PepsiAmericasA group of funds managed by Mario Gabelli's Gamco Investors Inc. on Monday reported a 5.25 percent stake in PepsiAmericas Inc. The Gabelli group beneficially owns about 6.7 million shares of the Minneapolis bottler of PepsiCo beverages, according to a filing with the Securities and Exchange Commission.
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Blog: Patent Pending
Wisconsin kicks our butt
Yee gads! We already know that Wisconsin has superior angel tax credits than Minnesota (and by superior, I mean it actually HAS them) but this is getting ridiculous. It would be perfectly understandable if the Badger State wanted to sit on its laurels and count the Minnesota startups fleeing to Madison or Hudson. Instead, as Minnesota [...]
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