Articles

Fortune Industries plans to exit PEO business

In an unusual turn of events, the publicly traded professional employer organization is abandoning its plans to be taken private and instead hopes to become a skilled-nursing operator through a merger with a Greenfield-based company.

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Fortune Industries founder, chairman dies

Carter M. Fortune, 70, died Saturday at his home in Destin, Fla., the company said. The Fortune Industries chairman had been in the process of selling the public company to management in a deal valued at $30.5 million.

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Defender Direct founder steps down as CEO

Defender, which sells and installs home-security and satellite systems, said company President Marcia Barnes has replaced David P. Lindsey as CEO. Lindsey will retain majority ownership of the company he founded in 1998.

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Sale of Fortune Industries would take company private

The company is set to be purchased by CEP Inc., a holding company led by Fortune Industries CEO Tena Mayberry and Chief Financial Officer Randy Butler. But several law firms are investigating the sale for potential unfairness on behalf of shareholders.

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