The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Media Adds to Mario's Headache Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, September 27, 2005

Media Adds to Mario's Headache

by: Sean Hanna, Editor in Chief

Any hopes Mario Gabelli may have held that a dispute with his partners would be settled quietly have all but evaporated. The suit, which was first reported on last Sunday by the New York Times, was brought by two minority shareholders in Gabelli Group Capital Partners Inc., the holding company for his asset management firm.

Since the New York Times gave prominent play to the story last weekend it has been carried in syndication by local and regional papers and Tuesday Reuters picked it up.

Nothing in the suit, which was filed in November 2003 in a Rye, New York court by Frederick Mancheski and David Perlmutter, alleges any mismanagement in Gabelli's mutual funds. Rather, the pair accuses Gabelli of looting the holding company through excessive pay and by assigning a low book value to their shares. They are seeking a decision that would enable them to sell their shares in the firm.

A NY Times article discussing his $55 pay package in 2004 cannot be good for Gabelli's reputation with potential investors in light of the recent reports f CEOs taking excessive pay packages at the expense of shareholders.

The paper also hits Gabelli by noting that he is known for taking an aggressive stance against company managements that he feels are mismanaging their companies. It certainly does not miss the irony of the similarity in Mancheski's and Perlmutter's suit. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use