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Week in Review.(Borders Group Inc. offering $250 million worth convertible senior notes )(Detroit Free Press Inc.'s Neal Shine died)(Kirk Kerkorian investing in DaimlerChrysler AG. Chrysler Group)(Obituary)
Crain's Detroit Business, April, 2007
Borders may rethink $250M plan; no bonus for most execs Borders Group Inc. is reconsidering whether to offer $250 million of convertible senior notes after announcing the offering Tuesday night. Ann Arbor-based Borders (NYSE: BGP) said Tuesday that it intended to offer the notes in order to pay debt and free up money to carry out its strategic plan announced last month.
The company, in a Wednesday morning statement, said "shareholder feedback'' caused it to re-evaluate the proposed offering. Also, a majority of Borders executives were denied bonuses in 2006 after failing to meet company performance goals last year. DPS board OKs closing 34 schools to save $18.6M Mason Elementary School is among eight schools the Detroit Public Schools board said...
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