Tuesday, December 06, 2005

Time Warner vs Lazard

Strange and Quiet resignations. Robert C Clark resigns from the Lazard Ltd board so that he can stay on the Time Warner board. Lazard has been hired by Icahn to help with their efforts to restructure Time Warner. It took a full week for Mr. Clark to resign from Lazard after the announcement. A full week is much too long for a director to figure out what his responsibilities are. It took a full week to determine where loyalties lay. Just a bit too messy for my taste.