Accentuating the caveat emptor perspective with critical commentary on financial disclosure. I adopt a skeptical persona and look for chinks in the teflon coating of financial disclosure. My job is to identify financial warts. Perhaps a Black Swan. Disclosure: I do not hold positions in stocks mentioned for three trading days before or after blog post.
Friday, August 11, 2006
Bally CEO Continues Revolving
Bally Total Fitness (NYSE: BFT) announced the resignation, effective immediately, of Paul A. Toback as Chairman, President and CEO. The Company said that Don R. Kornstein has been appointed interim Chairman, and Barry R. Elson has been appointed acting CEO. The CEO chair continues to swivel around too quickly. You cannot replace CEO’s every twelve months. I blame the Board and the selection process.