loss of three major customers due to bankruptcy, which make up roughly one-sixth of Simmons’ sales. Despite the recent loss of these three major customers, the new CEO, Charlie Eitel is considering an enormous $7.2 million investment in training program whose outcome is “encouraging but not definitive”, at a time when the US economy was facing a downturn due to the effects of the 9/11 attacks. Simmons’ owners, Fenway Partners are not particularly enthusiastic about the new CEO’s move in an uncertain…
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