Journal Register's Missing President (JRC)
Stock Ticker: JRC
Newspapers usually expect the people they talk to for stories to be forthcoming and honest with their answers and information, so investors should anticipate that newspaper companies would be models of disclosure.
So, why is it so difficult to figure out what happened to the Journal Register's president?
Jean Clifton, who was also the Chief Operating Officer of the company, resigned effective June 30. She received severance of $2.81 million according to the Associated Press and documents filed with the SEC.
But, Clifton "resigned", and based on her contract, unless she resigned for "good reason" she is paid nothing. But, the SEC filings did not stipulate that she resigned for good reason or that she was fired.
It makes for quite a puzzle. But, one thing is for certain. Jean Clifton left with a large severance package, a consulting agreement and stock options. Shareholders of Journal Register stock ought to wonder what happened. Most investors are already frustrated with the company. Its stock dropped over 40% during the first half of 2006.
Douglas A. McIntyre can be reached at douglasamcintyre@gmail.com. He does not own securities in companies he writes about.
Newspapers usually expect the people they talk to for stories to be forthcoming and honest with their answers and information, so investors should anticipate that newspaper companies would be models of disclosure.
So, why is it so difficult to figure out what happened to the Journal Register's president?
Jean Clifton, who was also the Chief Operating Officer of the company, resigned effective June 30. She received severance of $2.81 million according to the Associated Press and documents filed with the SEC.
But, Clifton "resigned", and based on her contract, unless she resigned for "good reason" she is paid nothing. But, the SEC filings did not stipulate that she resigned for good reason or that she was fired.
It makes for quite a puzzle. But, one thing is for certain. Jean Clifton left with a large severance package, a consulting agreement and stock options. Shareholders of Journal Register stock ought to wonder what happened. Most investors are already frustrated with the company. Its stock dropped over 40% during the first half of 2006.
Douglas A. McIntyre can be reached at douglasamcintyre@gmail.com. He does not own securities in companies he writes about.
posted by douglas mcintyre at 11:52 AM
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