Some interesting news coming from Canadian office furniture manufacturer Inscape. On Thursday, Inscape announced the results for the quarter ending 10/31/09 - a net loss of $475,000 for the quarter, and a cumulative loss of $1.4 million for the first 6 months of their fiscal year.
The loss is not news (show me an office furniture manufacturer that is doing well right now)... BUT, this earnings announcement was preceded by the surprise announcement 3 days earlier that Inscape President Peter Brunelle was resigning (effective immediately), to "pursue other opportunities" (read your fired).
Never good to have the Captain leave the ship in the middle of a storm (whether voluntarily or involuntarily)... Not sure this story is over.
The loss is not news (show me an office furniture manufacturer that is doing well right now)... BUT, this earnings announcement was preceded by the surprise announcement 3 days earlier that Inscape President Peter Brunelle was resigning (effective immediately), to "pursue other opportunities" (read your fired).
Never good to have the Captain leave the ship in the middle of a storm (whether voluntarily or involuntarily)... Not sure this story is over.
