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Mysterious CFO Firing of the Day: Angeion Corp.

Anyone that is in St. Paul/Minneapolis (ideally Baker Tilly Virchow Krause employees) should get in touch with us because this reeks of bad behavior that we absolutely must know about:

Angeion Corporation has terminated the employment of its Chief Financial Officer, William J. Kullback, effective July 9, 2010. The termination of Mr. Kullback is not related to any issue with respect to the Company’s financial statements.


Yes, that’s all there is. We did poke around a little bit and found that Mr Kullback was formerly with Price Waterhouse which could lead to believe that he’s got a bit of a temper and/or was roofied but then again we’re just throwing that out there.

We rang up Angeion to see what’s what and left a message with CEO Rodney Young who is supposed to call us back. We’ll report back if we find out the scoop.

8-K [SEC Filing]

UPDATE: Mr Young got back to us and we had a very pleasant chat although he wouldn’t elaborate on the dismissal of Mr Kullback, so speculate away! Or if you’ve got actually knowledge that will do too.

Wendy’s/Arby’s CFO: Killing Cows and Pigs Isn’t as Profitable as It Used to Be

This is especially troublesome for the House that Dave Thomas partially built because eating more produce isn’t an option for most Americans.

Higher costs for commodities like beef and bacon will take a bite out of margins at Wendy’s/Arby’s Group (WEN.N) in the second half of 2010, an executive for the No. 3 U.S. fast-food chain said on Tuesday.

“Beef and bacon are two commodities that have been troublesome to us in this current environment,” Steve Hare, Wendy’s/Arby’s chief financial officer, said at an investor conference.

Beef, bacon to bite margins at Wendy’s/Arby’s: CFO [Reuters]

GM CFO Says Company Is Committed to ‘Low-debt Strategy’ For Real This Time

General Motors Co’s new chief financial officer told analysts the automaker remains committed to the low-debt strategy and discipline on vehicle pricing emphasized by his predecessor. In a dinner meeting with analysts on Thursday, Dan Ammann said GM faced limited impact from the Japan crisis, was increasing its auto credit capabilities, and was reducing its exposure to incentives in the U.S. market, according to research notes from Barclays Capital and J.P. Morgan. “Dan emphasized fundamental continuity around GM’s financial strategy and philosophy with his predecessor,” Barclays analyst Brian Johnson said. “Dan plans to continue the low-debt strategy of his predecessor.” [Reuters]