I was a little stunned yesterday morning when I blogged on DOW dismissing two senior executives for having inappropriate, unauthorized discussions about a proposed buyout. You probably already guessed that from my off-the-cuff, biting, insightful analysis:
Wow.
I know, I keep hitting them out of the park.
Actually, I was racing the clock, hoping to break the story after it ended up in my inbox from a couple of connections, who themselves had just received an email notification of the dismissals. Unfortunately, Bloomberg beat me to it by about nine minutes, curse them.
Offically, DOW claims that Reinhard and Kreinberg "were engaged in business activity that was highly inappropriate," and both men are doing what good attorneys always tell their clients to do, which is deny everything. Given the acrimony already displayed in the press by both the board, and the now-former execs, I can't help but wonder if they were axed for what they are alleged to have done, or because they got caught.
Friday, April 13, 2007
Afterthoughts on yesterday's DOW sackings
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1 comment:
Let's see, a Middle Eastern consortium is looking to purchase a US based global chemical concern -- some what strategic one would say.
And you thought the Dubai Ports deal met with Congressional "difficulties".
This one is dead on arrival as a sale to a foreign entity.
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