O'Sullivan Industries may be able to continue not having to make the interest payments on its outstanding loans, according to today's Furniture Daily. At the moment, the companty, formerly based in Lamar, now in the Atlanta area, already has a deal to hold off on interest payments until the end of this month for notes that are due in 2008.
Million-dollar CEO Bob Parker said the recent extension of the forbearance agreement shows the "continued positive progress that is being made in the ongoing negotiations."
Sounds to me like another act of "Debt of a Salesman."
So, Randy, did you come to bury him or praise him?
ReplyDeleteI think parker was hired to have a major impact on the bottom line of the company. Seems he has managed that!
ReplyDeleteInterestingly, as soon as parker gets done running the company through a bankruptcy he'll be able to announce new placements at SP Richards (now, where has that name come up before? Hmmm...) and other accounts. So, if I have this right, he drives the company over the brink, negotiates a nice little hunk of equity out of the deal, gets rid of those idiots, er, geniuses at brs, and then "finds" a way to get new business! Almost as if he had a plan...
Do you suppose that he moved everything to Atlanta to take hostages in this deal? Wonder how old hal rosser likes the reverse (perverse) spin move he's had put on him? Couldn't happen to a nicer guy.
Only thing that lets me sleep at night is the knowlege that parker has surrounded himself with sycophants like mike f. ("mf"), so he may not get the last laugh after all... mf is marketings version of the real nowhere man. Somebody ask him how his theories worked at recent customer presentations in the Bentonville area.
Maybe they are cleaning up a mess they did not make?
ReplyDeleteThank you Rick Davidson.