I've often wondered this. Who was it at the top that kept PC holding co going aftet CR in 1976? I know Perlman was terminated by the board after the bk and Saunders was politely asked to leave too.
Did a new corporate board or CEO get the idea "hey let's try to save this company and keep it going" or did outside investors buy the stock dirt cheap or something?
In all the bools I've read its never explained. Just oooop 4/1/76 and CR is here.
I know the bk trustees forced PC to sell a lot of their NY real estate assets and otjer subsidiary companies.
I mean somebody had to be calling the shots at the top.
Did a new corporate board or CEO get the idea "hey let's try to save this company and keep it going" or did outside investors buy the stock dirt cheap or something?
In all the bools I've read its never explained. Just oooop 4/1/76 and CR is here.
I know the bk trustees forced PC to sell a lot of their NY real estate assets and otjer subsidiary companies.
I mean somebody had to be calling the shots at the top.