jainen Posted November 21, 2007 Report Share Posted November 21, 2007 H&R Block fired their CEO today, two weeks after dumping the CFO. The problem is that the venture into mortgages didn't work out--apparently a lot of their borrowers aren't all that qualified. The interim replacement has vowed to concentrate on tax preparation. On the news that the company is being ripped apart by the subprime loan disaster, HRB stock went up. Quote Link to comment Share on other sites More sharing options...
JohnH Posted November 21, 2007 Report Share Posted November 21, 2007 Too bad it doesn't work that way for all of us. If my value went up every time I did something stupid, I'd be worth more than Bill Gates & Warren Buffet combined. Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted November 21, 2007 Report Share Posted November 21, 2007 H&R Block fired their CEO today, two weeks after dumping the CFO. The problem is that the venture into mortgages didn't work out--apparently a lot of their borrowers aren't all that qualified. The interim replacement has vowed to concentrate on tax preparation. On the news that the company is being ripped apart by the subprime loan disaster, HRB stock went up. I believe the stock was down 40% before yesterday's announcement. The slight upward move was investors signaling approval of the activist board members ousting of the top managment. The worst is not over for them, they can't find a buyer for their mortgage business. Until they can dump that division, the losses wil continue to mount. Tom Lodi, CA Quote Link to comment Share on other sites More sharing options...
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