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Analysts International Corporat Message Board

  • billy_berew billy_berew Mar 2, 2011 5:25 PM Flag

    Why the Change of Control Benefits

    They just put in place officer severance payments in the event of a change in control. Why are they doing this? Do they think they are a target? Seems credible now that they are profitable. However, they need to show a $3M profit in 2011 and well as some sales growth for anyone to give a hoot. Maybe Manpower would buy them out, just like they bought Comsys last year. Seems consolidation will have to happen at some point for the locals/regionals to compete.

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    • Forgot to add a guy named Norman Pessin and his wife, who announced that they owned 325,000 shares also.....they filed their 13D near the end of 2010.....so that ups the amount supposedly owned by five groups to nearly 70% of the shares outstanding (B/A Columbia 40%, Heartland Advisors 9.5%, Leviticus Partners 8.5%, Norman Pessin Family 6% and Dimensional Funds 3% = 67%)

    • Management began tightening up its change of control language and most recently, its change of control golden parachute after a group called "Leviticus Partners" announced that they held 8.5% of ANLY shares. Along with Heartland Funds and ColumbiaFunds/Bank of America, concentrated ownerships is approximately 50% of shares outstanding.....BofA/Columbia own approximately 2mm shares in total according to the latest proxy (if I am reading it correctly)...not sure if this is Columbia Funds with shares held via the trustee side of Bank of America, or what.

 
ANLY
6.440.0000(0.00%)Oct 11 3:56 PMEDT

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