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Article: For investor at center of Strouds probe, it's water off his back. (Up Front).(Walter Cruttenden III)
- Article from:
- Los Angeles Business Journal
- Article date:
- July 7, 2003
- Author:
CopyrightCOPYRIGHT 2003 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Walter Cruttenden III, the Newport Beach financier whose transactions with bankrupt Strouds Acquisition Corp. are being probed by the linen retailer's unsecured creditors, isn't the type of guy who gets obsessed with such complications.
With more than $5 million riding on the outcome, Cruttenden would rather talk about other things, like yoga or his unusual astronomical theory that the sun is part of a two-star binary system. He compares his Strouds investment to one of his favorite pursuits: surfing.
"Sometimes you catch some good waves and it's a good ride," Cruttenden, 53, said in an interview last week after a morning hitting the waves. "Now and then ...