Wednesday, January 4, 2017

Corporate raider Posner did a leveraged buyout of Evans in 1984-- this is one man you didn't want eyeing your assets.

 By 1987, his holding were in ruin, and so was Evanite. Rather than convey the sordid details of all this-- here is an excerpt from Wikipedia:

'Evans Products operated in Chapter 11 and did not emerge until former Chairman and CEO Monford Orloff was brought back to the company and vendors and lenders were assured that Posner would leave the company.' Article from the time frame attached.

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