Denver Direct: Bennet Nailed as Corporate Raider
Monday, July 26, 2010
Cherry Creek News writer Guerin Lee Green (kudos!) has laid out the details of the work Bennet did for Anshutz. Go here to read the whole article
Bennet made more than $11.4 million during the years after the Regal Cinema deals. In 2001, Regal Cinemas closed 30% of its theaters, shuttering 128 theaters. With 30-50 full or part-time employees at the average theater, these closures eliminated an estimated 4,000 – 6,400 jobs. So while in some quarters, including the editorial page of the Denver Post, this financial engineering was praiseworthy, the reality is it impacted thousands of families, and cost investors millions while crippling an otherwise productive company.
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