Creditors criticize Malden Mills bankruptcy plan, Globe says

Malden Mills’ plan projects sales will increase to $250 million in 2012 from $138 million in 2003, the Globe reported.

General Electric Capital Corp., which leads a group of Malden’s security lenders, contends that those numbers are overly optimistic, the Globe reported, citing GE Capital spokesman Peter Stack. GE Capital is still willing to be a long-term stakeholder in the company and to help Malden emerge from bankruptcy, the Globe quoted Stack as saying.

A recent court filing by unsecured creditors of Malden Mills described the company’s repayment plans as “dubious,” the report said. (Bloomberg News)

Charles River Associates
announce resignation, name interim CFO

BOSTON – Charles River Associates Incorporated, an internationally known economic, financial and management consulting services provider, announced that it has named J. Phillip Cooper, CRA executive vice president, as interim chief financial officer, to replace Michael J. Tubridy who resigned in order to pursue personal interests.

“We wish to thank Mike for his contributions to CRA since his arrival in September 2001 and extend him our best wishes for the future,” said James C. Burrows, CRA’s president and chief executive officer.

Cooper, who joined CRA in 2000, has served as CRA’s executive vice president since February 2001 and led the firm’s acquisition of several consulting practices, including the former Chemicals and Energy consulting practice of Arthur D Little. He served as CRA vice president of corporate development from May 2000 to February 2001. Prior to joining CRA, Cooper consulted to emerging businesses, and also served as chief executive officer of Newstar Technologies Inc., a Canadian e-commerce, banking and real estate software company, and was EVP of McGraw-Hill’s Standard & Poor’s Corp., heading an online data/software/services sector.