Sunday, April 16, 2006

Corporate News from Biker World

In the appropriately named ROB, in the Grab and Maul there is a story about a corporate shakeup in Biker world. In particular the Bandidos. Haha.
Vacancy in the corner office

Bandidos Canada Inc., a small Southern Ontario trading company, underwent a high-profile corporate shakeup this week when eight executives, mostly in middle management, were relieved of their duties.

The firings followed an intense boardroom battle for control of the closely held company, a loose affiliate of the Texas-based multinational Bandidos Corp.

Bay Street analysts differed over the reasons for the internal feud within the firm, but it is understood there were corporate governance issues, and regulatory authorities have been closely watching its activities.

Executives from the Texas parent company have been unhappy for some time with weak earnings results from the Canadian arm, and this week they travelled to Ontario to try and repair the damage from the corporate bloodletting.

There is some speculation that they may try to revive its fortunes with a partial spinoff as an income trust.

A Bandidos Corp. spokesman said he could not comment, except to raise his middle finger.

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