Teletech

DARDEN. BUSINESS PUBLISHING UNrvERsnYcfVIRGINIA UVA-F-1152 Version 2.1 TELETECH CORPORATION, 1996 Raider Dials Teletech Wake-Up Call essential Says Investor upstart York (AP)--The reclusive billionaire Victor Y ossarian has acquired a 10 percent stake in Teletech Corporation and has demanded two set on the business firms board of directors. The purchase was revealed yesterday in a register with the Securities and Exchange Commission, and sepa strayly in a garner to Teletechs CEO. maxwell Harper. The firm is misusing its resources and not earning an adequate return, the letter said. The confederation should abandon its lead astray entry into computers. and sell the crossroad and Systems Segment Management must focus on creating treasure for shareholders. Teletech issued a brief statement emphasizing the virtues ofa link amid computer technology and telecommunications. breakwater Street Daily News. January 9. 19% Margaret Weston, Teletechs chief financial offic er, larn ofYossarians letter late wholeness evening in earliest January 1996. Quickly she organized a team of lawyers and finance ply to task the threat Maxwell Harper, the firms CEO. scheduled a teleconference meeting of the firms board of directors the bordering afternoon.

Harper and Weston agreed that to begin with the meeting they undeniable to trend a response to Yossarians assertions near the firms returns. Ironically, returns had been the subject of debate at heart the firms circle ofsenior managers in late months. A number ofissues had been raise about the hurdle rate used by the family in evaluating performance, and in aspect the annual capital budget. Since the f amily was expected to invest well $2 billio! n in capital projects in 1996, gaining village and consensus on these issues had become an distinguished priority for Margaret Weston. Now, Yossarians letter bring urg~ncy to the discussion. In the short run, she needed to respond to Y ossarian. In the long run, she needed to assess the competing viewpoints, and...If you want to get a full essay, order it on our website: OrderEssay.net

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