Good for these two guys. I wish them luck. And Citadel, what a great company to work for.
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The Wall Street Journal reports Citadel's scale-skinned CEO isn't too happy about being challenged by one of his own species known as Aurelius Capital Management.
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RBR.com reports: "Citadel Broadcasting Corporation has asked the judge overseeing its Chapter 11 bankruptcy proceeding to void stock purchases by Aurelis Capital Management and other entities associated with its Senior Managing Member,
Mark Brodsky ... Aurelis disclosed in an SEC filing that since late March it has acquired 16.7 million shares of Citadel’s common stock for a total of $1,213,477.13. That’s an average of just under 7.3 cents per share." If nothing else, Aurelius bumped up Citadel's share price. Sell! Sell!
> And in Michigan, where Citadel once dismissed an employee afflicted with cancer and canceled his medical insurance, the
mongoose enters the fray:
From today’s T-R-I Newsletter: Michigan’s attorney general tells a federal bankruptcy court in New York that Citadel “failed to file its 2008 Michigan Business tax return" and it has doubts “as to whether the debtor’s proposed plan (to re-organize and flush away two-thirds of its debt) is offered in good faith.” Michigan is an unsecured creditor in the Citadel bankruptcy proceeding.
Wonder if Citadel owes any back taxes in New York State?
