Thread regarding Janus Capital Group Inc. layoffs

Gary Black resigned as Chief Executive Officer, Janus announced on Tuesday. Black will be replaced by Tim Armour, a Janus Capital director, who will only fill the position on a temporary basis. To sum it up, I'll quote Keefe Bruyette & Woods analyst Robert Lee who said on Wednesday the following "Everything being equal, the equity and convertible offering, while relatively neutral to earnings in the near term, are nevertheless dilutive to returns to equity holders and eventually we presume the convertible security will convert to stock,"