The company's board of directors has authorized the repurchaseof up to $30 million of its common stock over a period ending nolater than Aug. 22, 2009. The company, led by president and CEO,Edward J. Rohling, warned that the repurchases may continue whilethe company explores other strategic initiatives, including thesale of the company.
The cost reduction initiatives include downsizing corporateoffice staff and consolidating its five current operating regionsinto two regions. The restructuring was completed on Aug. 23. Thecompany will take a charge of $1 million associated with the costreduction initiative in the third quarter.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
