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In Other FGI News

In addition to EOTAC falling off the face of the earth earlier this week, Freedom Group Inc filed on Friday, April 1st to withdraw their IPO bid with the SEC. Instead, they may do a private offering of stock. Cerberus owned FGI initially filed their intent to seek an IPO in October of 2009 but has faced several challenges since then including the resignation of CEO Ted Torbeck last year. Cerberus brought in Robert Nardelli, the former CEO of Chrysler and Home Depot, to serve as interim head of FGI. Readers may have heard of Nardelli who helmed Chrysler until they filed for bankruptcy protection. That is one hell of a track record. How do these guys keep getting hired by different companies? Whatever happened to a captain going down with his ship?

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2 Responses to “In Other FGI News”

  1. Mike says:

    Owned by George Soros-FGI and Cerberus …Nice

  2. Kaleo says:

    Mike, what’s your source on the Soros/Cerberus connection?