Thread regarding Emulex Corp. layoffs

McClowny ran the company poorly. Activist hedge funds took control, forced CEO and board change. Company thought it was clever by enacting poison pill, but hedgies easily maneuvered themselves on the board. Emulex was paraded for sale (hence quick profit), but company was no longer worth what BRCM had offered in 2009! Hedgies won't walk away with nothing. They force company to borrow to pay them off. But borrowing didn't cover all needed cash. Cost cutting provides additional $30M. Meanwhile, hedgies keep vultures on board to ensure their profit. Ironically this helps focus new CEO and company. Headlines: Activist Hedge Funds save company!