Internet Business

[amranloudi45]

For online business Jefferies has come under pressure from short-sellers and a credit downgrade by Egan-Jones Ratings, Handler has taken the lead in repelling what he called an assault on his company. Jefferies has issued a total of seven statements giving information about its European bond positions and has cut those holdings by about three-quarters as of Nov. 21. The CEO personally sent and revised e-mails to the news media as he sought to break the stock’s slide and convey what his six-page letter called “the reality of what is happening at Jefferies.” In the letter, he said that the company had repurchased $50 million of its bonds due in 2012 in the previous few weeks, that its balance sheet is “highly liquid,” and it had more than $2.2 billion in cash. “Handler is a quite unusual bird,” says Frank Glassner, CEO of Veritas Executive Compensation Consultants in San Francisco. “He clearly communicates a message that he’s in it for the long term and in it with shareholders as well.”

[jacobisme1234]

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[topherkhon]

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