Quaker sets supply chain VP

Article Abstract:

Quaker Fabric plans to add a vice president of supply chain management to its roster of senior managers to have an individual to handle the company's raw materials purchasing, fabric and yarn scheduling, customer service and sample room functions. The official assigned to the new position will report to President and CEO Larry Liebenow, who, incidentally, will temporarily oversee domestic sales staff after the departure of vice president of sales, Tom Finneran. The creation of the new position is in line with the company's goal to provide added focus on delivery lead times and accuracy as well as service.

Comment:

Plans to add a vice president of supply chain management to its roster of senior managers

Other staff changes & profiles

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Shareholders sue Quaker in wake of stock's decline

Article Abstract:

Quaker Fabric's decline by over 47% in its shares in the last week of September 1998 has prompted four class-action suits from its investors. The lawsuits, two each in Massachusetts and New York, accuse the Fall River, MA-based firm, its officers and its directors of violating existing federal statutes by issuing false statements during the company's July 1998 secondary stock offering. Quaker Fabric's problems started after it announced on Sep. 25, 1998, that its profits for the third and fourth quarter of 1998 may be below the figures predicted by analysts.

Comment:

Its shares' decline by over 47% in the last week of 9/98 has prompted 4 class-action suits from its investors

Government regulation (cont)

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