Approximately one month after SL Industries Inc. retained Credit Suisse First Boston (CSFB) to explore strategic alternatives, George Hornig, a member of SL’s board and a managing director at CSFB, resigned from the board. Just one question, though: Why now, rather than the moment CSFB was hired? On the March 12 Horning announcement, SL’s stock ticked down but did not set off any bells and whistles. The shares slid 25 cents from their $14.75 opening price. At press time, the stock closed at $14.50 per share.
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