It's pretty rare that a CEO (let alone a co-founder) is escorted out of a building by the head of security. According to public documents that's how Lewis Sanders left his position at Alliance.
It doesn't seem logical that you escort a CEO out of the building with the head of security just because of client investment performance. It just makes no sense. What's the real story?
Alliance, you are a public company. Shareholders have a right to know why Lew Sanders, who has been lecturing students at Columbia University on investments, has been called a "legendary investor" in the press, and was CEO of your company would need the head of security to escort him out of the building.
I may misunderstand the figures but Alliance made a $600 million dollar settlement with the legal authorities for questionable activities in their funds. This seems like such a huge settlement and with company money, not management money. Why such a large punishment?
Was anyone being protected in the settlement negotiations?
Tuesday, November 30, 2010
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