Tuesday, December 1, 2015
Lionbridge attracts hedge fund billionaire Lee Cooperman
Cooperman's arrival in Lionbridge capital ($23 million, a 7% stake) apparently brought changes in the financial management with the departure of the CFO. Read the article in the Boston Business Journal of November 9. Cooperman worked for years at Goldman Sachs then created his own hedge fund, Omega Advisers whose performance has not been so great lately. He also accused President Obama of promoting class warfare in an open letter (November 28, 2011). While Lionbridge announced a $50 million share repurchase program, they could not find one cent to increase Tier1 pay, nor provide paid holidays or parental leave for people who have worked in the lab for years but are still misclassified as 'temporary' workers. As for the 15 days of PTO, they have constantly repeated it was only because Microsoft required it that they offered it.