Register Guidelines E-Books Search Today's Posts Mark Forums Read

Go Back   MobileRead Forums > E-Book General > News

Notices

Reply
 
Thread Tools Search this Thread
Old 07-03-2018, 06:21 PM   #1
fjtorres
Grand Sorcerer
fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.
 
Posts: 11,659
Karma: 123043382
Join Date: May 2009
Location: 26 kly from Sgr A*
Device: T100TA,PW2,PRS-T1,KT,FireHD 8.9,K2, PB360,BeBook One,Axim51v,TC1000
B&N Fires CEO

B&N business as usual.

Not much detail at CNBC or elsewhere:

https://www.cnbc.com/2018/07/03/barn...-parneros.html

Quote:
Barnes & Noble said Tuesday that it has fired CEO Demos Parneros for violating company policies.

The company did not specify exactly which policies were violated. It did say, however, that Parneros' termination "is not due to any disagreement with the Company regarding its financial reporting, policies or practices or any potential fraud relating thereto."

Parneros will not receive any severance and is no longer a director on its board, the company said in its statement.
No golden parachute for this one.
fjtorres is offline   Reply With Quote
Old 07-04-2018, 09:47 AM   #2
DuckieTigger
Wizard
DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.
 
DuckieTigger's Avatar
 
Posts: 4,333
Karma: 235177085
Join Date: Dec 2011
Location: USA
Device: Oasis 2, PW3
Quote:
Originally Posted by fjtorres View Post
B&N business as usual.

Not much detail at CNBC or elsewhere:

https://www.cnbc.com/2018/07/03/barn...-parneros.html



No golden parachute for this one.
That is very strange indeed that he got let go without package of any kind. Sounds like nothing illegal, he did not get the offer to quit instead of getting fired, so what is left? Only thing I can think of is negligence in either wasting shareholder money or not doing something to protect the little value that is left.

Or something else entirely and he took one for the team to cover something up. Waiting for the gossip to show up in media and getting my popcorn ready.

DuckieTigger is offline   Reply With Quote
Advert
Old 07-04-2018, 10:04 AM   #3
DuckieTigger
Wizard
DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.DuckieTigger ought to be getting tired of karma fortunes by now.
 
DuckieTigger's Avatar
 
Posts: 4,333
Karma: 235177085
Join Date: Dec 2011
Location: USA
Device: Oasis 2, PW3
Oh, there it is, in the article:

Quote:
Barnes & Noble said it [..] has tapped a group of [..] chief financial officer Allen Lindstrom, chief merchandising officer Tim Mantel and vice president of stores Carl Hauch [to run the company].
Getting ready to get rid off all B&M stores. They gave up hope in salvaging anything - restructuring did not work, last straw attempt to fire the last remaining sale and inventory experts did not help (who knew?). Now it is off to the highest bidder and focus on online sales.

Wait, that might make sense, so that is probably not the idea.
DuckieTigger is offline   Reply With Quote
Old 07-04-2018, 10:26 AM   #4
darryl
Wizard
darryl ought to be getting tired of karma fortunes by now.darryl ought to be getting tired of karma fortunes by now.darryl ought to be getting tired of karma fortunes by now.darryl ought to be getting tired of karma fortunes by now.darryl ought to be getting tired of karma fortunes by now.darryl ought to be getting tired of karma fortunes by now.darryl ought to be getting tired of karma fortunes by now.darryl ought to be getting tired of karma fortunes by now.darryl ought to be getting tired of karma fortunes by now.darryl ought to be getting tired of karma fortunes by now.darryl ought to be getting tired of karma fortunes by now.
 
darryl's Avatar
 
Posts: 3,022
Karma: 58567110
Join Date: Nov 2011
Location: Australia
Device: Kobo Aura H2O, Kindle Oasis, Huwei Ascend Mate 7
Quote:
"is not due to any disagreement with the Company regarding its financial reporting, policies or practices or any potential fraud relating thereto."
Curiously worded. Why would potential fraud even be mentioned? It doesn't seem to be an accusation against Parneros. Why mention it? Are there rumours that Parneros had detected some sort or irregularity or possible fraud which they want to try to quash? The statement seems to essentially be denying that he was sacked over a disagreement with the company regarding some of these things. Sacked? On the advice of lawyers? Publishing no compensation?

I'd say something is going to hit the fan sooner rather then later. Plenty of room for recriminations on a sinking ship. Very curious.

Last edited by darryl; 07-04-2018 at 10:28 AM.
darryl is online now   Reply With Quote
Old 07-04-2018, 10:30 AM   #5
astrangerhere
Professor of Law
astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.
 
astrangerhere's Avatar
 
Posts: 2,633
Karma: 38767478
Join Date: Sep 2010
Location: Chapel Hill, NC
Device: Kobo Libra H20, Kobo Aura One, KoboMini
My lawyer brain went immediately to wondering if this was an HR issue.
astrangerhere is offline   Reply With Quote
Advert
Old 07-04-2018, 10:40 AM   #6
GlenBarrington
Cheese Whiz
GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.
 
GlenBarrington's Avatar
 
Posts: 1,902
Karma: 11155747
Join Date: Jan 2010
Location: Springfield, Illinois
Device: Kindle PW2, Samsung Tab A 10.1(2019), Pixel 3a.
Quote:
Originally Posted by astrangerhere View Post
My lawyer brain went immediately to wondering if this was an HR issue.
I thought that too, but usually, the 'aggrieved organization' makes a big deal out of something like that so as to get some positive publicity out of it at the expense of the accused. (See AMC and Chris Hardwick)
GlenBarrington is offline   Reply With Quote
Old 07-04-2018, 10:50 AM   #7
Shad Plante
Groupie
Shad Plante ought to be getting tired of karma fortunes by now.Shad Plante ought to be getting tired of karma fortunes by now.Shad Plante ought to be getting tired of karma fortunes by now.Shad Plante ought to be getting tired of karma fortunes by now.Shad Plante ought to be getting tired of karma fortunes by now.Shad Plante ought to be getting tired of karma fortunes by now.Shad Plante ought to be getting tired of karma fortunes by now.Shad Plante ought to be getting tired of karma fortunes by now.Shad Plante ought to be getting tired of karma fortunes by now.Shad Plante ought to be getting tired of karma fortunes by now.Shad Plante ought to be getting tired of karma fortunes by now.
 
Posts: 159
Karma: 1822810
Join Date: Oct 2017
Device: 6th Gen Kindle Paperwhite
Quote:
Originally Posted by astrangerhere View Post
My lawyer brain went immediately to wondering if this was an HR issue.
Chris Meadows at Teleread thinks so as well. Some sort of sexual harassment scandal would fit the way it is worded.
Shad Plante is offline   Reply With Quote
Old 07-04-2018, 11:25 AM   #8
fjtorres
Grand Sorcerer
fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.
 
Posts: 11,659
Karma: 123043382
Join Date: May 2009
Location: 26 kly from Sgr A*
Device: T100TA,PW2,PRS-T1,KT,FireHD 8.9,K2, PB360,BeBook One,Axim51v,TC1000
Quote:
Originally Posted by GlenBarrington View Post
I thought that too, but usually, the 'aggrieved organization' makes a big deal out of something like that so as to get some positive publicity out of it at the expense of the accused. (See AMC and Chris Hardwick)

Exactly.
Why miss a chance at virtue signaling?

I'm thinking it might be something minor but since he didn't perform a miracle in 14 months and was going to be fired anyway they took advantage of it to avoid paying his (likely) very substantial severance package.

Quote:

As Chief Executive Officer at BARNES & NOBLE INC, Demos Parneros made $2,257,143 in total compensation. Of this total $398,077 was received as a salary, $1,050,000 was received as a bonus, $0 was received in stock options, $677,954 was awarded as stock and $131,112 came from other types of compensation. This information is according to proxy statements filed for the 2017 fiscal year
https://www1.salary.com/Demos-Parner...NOBLE-INC.html

If it turns out to be an HR issue it might be consensual and not scandalous but still a good excuse to save some money by being outraged.

Last edited by fjtorres; 07-04-2018 at 11:28 AM.
fjtorres is offline   Reply With Quote
Old 07-04-2018, 12:39 PM   #9
astrangerhere
Professor of Law
astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.astrangerhere ought to be getting tired of karma fortunes by now.
 
astrangerhere's Avatar
 
Posts: 2,633
Karma: 38767478
Join Date: Sep 2010
Location: Chapel Hill, NC
Device: Kobo Libra H20, Kobo Aura One, KoboMini
Quote:
Originally Posted by fjtorres View Post
Exactly.
Why miss a chance at virtue signaling?
Because its possible that there is a history of issues and someone finally threatened to blow it open. Not so virtuous when you let it go for years and then fire him.
astrangerhere is offline   Reply With Quote
Old 07-04-2018, 12:50 PM   #10
GlenBarrington
Cheese Whiz
GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.GlenBarrington ought to be getting tired of karma fortunes by now.
 
GlenBarrington's Avatar
 
Posts: 1,902
Karma: 11155747
Join Date: Jan 2010
Location: Springfield, Illinois
Device: Kindle PW2, Samsung Tab A 10.1(2019), Pixel 3a.
Quote:
Originally Posted by astrangerhere View Post
Because its possible that there is a history of issues and someone finally threatened to blow it open. Not so virtuous when you let it go for years and then fire him.
Well, maybe, But he'd only been with the company 2 years and CEO for one year. While technically, a "Years" situation, it is a short enough tenure, that the Board of Directors could issue a plausible "shocked and dismayed" statement that included the usual politically correct, but somehow still smarmy, statement about how the company would never condone such behavior.

Please keep in mind, I'm not trying to minimize the seriousness sexual harassment, but I AM saying that the company statement does not fit the recent pattern of public behavior for such cases.
GlenBarrington is offline   Reply With Quote
Old 07-04-2018, 02:58 PM   #11
fjtorres
Grand Sorcerer
fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.
 
Posts: 11,659
Karma: 123043382
Join Date: May 2009
Location: 26 kly from Sgr A*
Device: T100TA,PW2,PRS-T1,KT,FireHD 8.9,K2, PB360,BeBook One,Axim51v,TC1000
Quote:
Originally Posted by GlenBarrington View Post

Please keep in mind, I'm not trying to minimize the seriousness sexual harassment, but I AM saying that the company statement does not fit the recent pattern of public behavior for such cases.
Precisely.
By now there is a standard script that everybody is following and as long as the identified transgressor is quickly and unceremoniously dumped and vilified, with a goodly supply of handwringing on the side, that will be the end of the matter for the employer. Even if the organization had to be well aware of the years-long behavior and ignored or even supported the individual. (C.f., NBC/Matt Lauer.) This script is pretty much required to prevent further inquiry.

It's like the now standard politician non-apology apologies. "Mistakes were made..." or "I'm sorry if anybody was offended..."

The firing here is way too discreet to fit the needs of the moment.
Just the fact that everybody is wondering why he was dumped means B&N is still in the crosshairs and everybody is waiting for the shoe store to empty out.

Last edited by fjtorres; 07-04-2018 at 03:01 PM.
fjtorres is offline   Reply With Quote
Old 07-04-2018, 03:58 PM   #12
j.p.s
Wizard
j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.
 
Posts: 3,086
Karma: 51000000
Join Date: Apr 2011
Device: pb360
Quote:
Originally Posted by darryl View Post
Curiously worded. Why would potential fraud even be mentioned? It doesn't seem to be an accusation against Parneros. Why mention it? Are there rumours that Parneros had detected some sort or irregularity or possible fraud which they want to try to quash? The statement seems to essentially be denying that he was sacked over a disagreement with the company regarding some of these things. Sacked? On the advice of lawyers? Publishing no compensation?

I'd say something is going to hit the fan sooner rather then later. Plenty of room for recriminations on a sinking ship. Very curious.
Maybe that is a list of causes for which some regulatory or corporate requirement call for specific disclosure.

And maybe he agreed to go without a fuss if the cause was not disclosed.
j.p.s is offline   Reply With Quote
Old 07-04-2018, 04:01 PM   #13
j.p.s
Wizard
j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.j.p.s ought to be getting tired of karma fortunes by now.
 
Posts: 3,086
Karma: 51000000
Join Date: Apr 2011
Device: pb360
Wow. All five similar threads are about B&N CEO turnover and all five are from the past five years.
j.p.s is offline   Reply With Quote
Old 07-04-2018, 05:11 PM   #14
fjtorres
Grand Sorcerer
fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.fjtorres ought to be getting tired of karma fortunes by now.
 
Posts: 11,659
Karma: 123043382
Join Date: May 2009
Location: 26 kly from Sgr A*
Device: T100TA,PW2,PRS-T1,KT,FireHD 8.9,K2, PB360,BeBook One,Axim51v,TC1000
Quote:
Originally Posted by j.p.s View Post
Wow. All five similar threads are about B&N CEO turnover and all five are from the past five years.
CEOs come and CEOs go but Riggio remains in charge.
fjtorres is offline   Reply With Quote
Old 07-05-2018, 06:02 AM   #15
pwalker8
Grand Sorcerer
pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.pwalker8 ought to be getting tired of karma fortunes by now.
 
Posts: 6,643
Karma: 49078144
Join Date: Dec 2006
Location: Atlanta, GA
Device: iPad Pro, iPad mini, Kobo Aura, Amazon paperwhite, Sony PRS-T2
Quote:
Originally Posted by astrangerhere View Post
My lawyer brain went immediately to wondering if this was an HR issue.
That was my reaction as well, that he committed one of the deadly HR sins and they wanted to make sure that potential investors knew it wasn't health of the company related.
pwalker8 is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
B&N Names Demos Parneros CEO AnemicOak News 5 04-29-2017 04:35 AM
B&N CEO Fired tubemonkey News 77 08-24-2016 02:01 PM
B&N gets new CEO fjtorres News 20 09-16-2015 12:09 PM
B&N Retail CEO sells stock GA Russell Barnes & Noble NOOK 14 08-30-2013 09:13 AM
B&N CEO Lynch resigns, replaced by CFO Huseby charmian News 31 07-26-2013 10:12 PM


All times are GMT -4. The time now is 02:35 AM.


MobileRead.com is a privately owned, operated and funded community.