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Cherokee puts $31 million in Argy's peace pipe. (Cherokee Group founder James Argyropoulos)
Cherokee puts $31 million in Argy's peace pipe SUNLAND, Calif. (FNS) -- Cherokee Group founder James P. Argyropoulos walked away with $31 million after agreeing not to fight the recently completed buyout of the company by GRN Industries, Los Angeles, for about $170 million.
A notice to shareholders regarding the cash-and-debentures purchase delineated the settlement reached, under which the founder resigned his position as chairman and chief executive officer. He was paid $800,000 in cash in connection with the termination of his employment contract, and also received a promissory note of $2,150,000, to be paid in monthly installments over 30 months.
In addition, Argyropoulos got $2.7 million in cash and debentures …
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- Cherokee Group gets $13-share bid. (footwear industry buyout plan)
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Magazine article from: Footwear News
Macintosh, Jean
July 18, 1988
700+ words
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- Cherokee board is selling despite Argyropoulos. (James P. Argyropoulos)
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Magazine article from: Footwear News
MacIntosh, Jean
September 5, 1988
700+ words
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- Cherokee panel KOs buyout bid. (management buyout for footwear group)
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Magazine article from: Footwear News
Macintosh, Jean Rottman, Meg
June 6, 1988
700+ words
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- 30.5% of Cherokee sales are east of Mississippi.
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Magazine article from: Footwear News
Rottman, Meg
January 13, 1986
700+ words
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- Argyropoulos opposes Cherokee buyout bid. (James P. Argyropoulos, Cherokee...
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Magazine article from: Footwear News
MacIntosh, Jean
July 25, 1988
700+ words
