Fortune Industries

Fortune can't explain 'significant and unusual' stock swing

March 19, 2013
Jeff Newman
Fortune Industries Inc. shares on Monday jumped as much as 285 percent from Friday’s closing price. The New York Stock Exchange found the move and an intense spike in trading volume so odd that it asked the company for answers.

Fortune Industries set to accept $13.3M buyout offer

February 21, 2013
Scott Olson
The proposed buyer is CEP Inc., a holding company led by Fortune Industries CEO Tena Mayberry and Chief Financial Officer Randy Butler, who first bid for the company last March.

Fortune Industries abandons sale to skilled-nursing operator

January 11, 2013
Scott Olson
The professional employer organization has terminated its purchase agreement with Ide Management Group LLC of Greenfield and now plans to pursue a sale it had explored previously.

Fortune profit ticks up despite lower revenue

November 15, 2012
Indianapolis-based Fortune Industries Inc.’s profit ticked up slightly in its fiscal first quarter but revenue fell due to the loss of two large clients, the company announced Wednesday.

Fortune Industries founder, chairman dies

August 28, 2012
Carter M. Fortune, 70, died Saturday at his home in Destin, Fla., the company said. The Fortune Industries chairman had been in the process of selling the public company to management in a deal valued at $30.5 million.

Fortune Industries shareholder drops suit against company

August 27, 2012
Scott Olson
Mark Haagen had sought class-action status on behalf of certain shareholders, charging that the price offered in a proposed sale for each share in the company is too low. Haagen voluntarily dismissed the suit.

Fortune buyout would help exec out of financial jamRestricted Content

June 9, 2012
Greg Andrews
Sale to managers would alleviate problems for company's 70-year-old namesake and keep firm from being seized by bank.

Fortune Industries shareholder seeks to stop proposed sale

April 17, 2012
Scott Olson
A shareholder of Indianapolis-based Fortune Industries Inc. has filed suit against the public company and its top executives, seeking class-action status on behalf of shareholders who want to stop a transaction that would take it private.

Sale of Fortune Industries would take company private

March 30, 2012
Scott Olson
The company is set to be purchased by CEP Inc., a holding company led by Fortune Industries CEO Tena Mayberry and Chief Financial Officer Randy Butler. But several law firms are investigating the sale for potential unfairness on behalf of shareholders.

Fortune Industries reports annual profit growth

September 28, 2011
The publicly held Indianapolis-based professional employer organization's profit in fiscal year 2011 more than doubled from the previous fiscal year, to $1.3 million.

Fortune turns profit in first quarter on higher revenue

May 17, 2011
The Indianapolis-based professional employer organization reported a profit of $265,000 in the first quarter after posting a loss of $426,000 in the same three months last year.

Fortune Industries reports higher profit, lower revenue

September 29, 2010
Indianapolis-based professional employer organization reported fiscal-year profit of $828,000, an 85-percent increase from fiscal 2009. Revenue, however, fell 20 percent, to $60.7 million.

Fortune Industries names new chief executive

January 18, 2010
Scott Olson
Fortune Industries Inc., an Indianapolis-based professional employer organization, has appointed Tena Mayberry as its CEO. Mayberry, who also will continue to serve as president, succeeds John Fisbeck.
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