Business Services Industry
First Union nears CEO deal after false starts.
Crain's Cleveland Business, October, 1998 by Bullard, Stan
STAN BULLARD First Union Real Estate Investments of Cleveland has traveled almost as rocky a road finding a new chief executive officer as its stock has traversed since a dissident group of shareholders took control last May. In an unusual seven-page posting on the Yahoo! Finance Internet message board for First Union, William Ackman, First Union chairman and a principal in Gotham Partners LP of New York, said the troubled real estate investment trust has come close to 'a deal with a new CEO twice.' In the first instance, the candidate turned down the job because of 'personal, family-related reasons,' Mr.
Ackman said on the message board, which has be come an increasingly popular forum for web-savvy investors to rant or rave about companies. In the...
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