Klarinet Archive - Posting 000393.txt from 2003/02

From: John Dablin <jdablin@-----.com>
Subj: Re: [kl] Buffet sold to Rutland Fund Management
Date: Wed, 12 Feb 2003 13:25:13 -0500

Boosey and Hawkes were defrauded of millions of dollars in an
accounting scam at their US subsidiary in 2000. The scale of the loss
was such that they have no alternative but to sell the company. The
instruments division is being sold separately to the publishing
division.

Today's Daily Telegraph reports:-

"Nick Morrill, a Rutland director, said: 'This business has fantastic
brands. What they have lacked is a committed investor.'

"Michael Winter, a Boosey director, will head the instruments division.
He, and two senior Boosey executives, have paid £160,000 (appr
$256,000) for a 15-20% stake."

Perhaps there are grounds for cautious optimism.

John Dablin

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