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Article: Bridge Shuffles Management; Dow Jones Bails Out.(Brief Article)
- Article from:
- Securities Industry News
- Article date:
- January 29, 2001
- Author:
CopyrightCOPYRIGHT 2001 SourceMedia, Inc. 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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Troubled Bridge Information Systems reshuffled its top management last week just as the vendor's former CEO Tom Wendel stepped down and Dow Jones announced in its preliminary fourth quarter results that it was writing off the remaining value of its investment in Bridge.
Dow Jones went on to say that "additional reserves relating to Bridge are possible in the fourth quarter because of Bridge's operating and financial difficulties." This is because Dow Jones may also have to take over Bridge's responsibilities for payments to interdealer-broker Cantor Fitzgerald Securities and its Market Data Corp. arm.
Dow Jones has guaranteed, under certain ...