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name game

Believe us when we say we’re nearly as tired sharing news about Daniel Maxwell Meyers as you are reading it. But when gems are delivered on a near daily basis, we simply have an obligation to share it. As long as he continues his litigious assault against Sailing Anarchy, we are going to publish the stories that define what, and who he is.  Today’s story from the Boston Business Journal is a beauty, and brings to mind a quote from an old John Varley novel: “Never trust anybody who says ‘trust me.’  Except just this once, of course.

If First Marblehead Corp. can emerge unharmed from what could be a more-than $300 million battle with the IRS and an effort to preserve its listing status on the New York Stock Exchange, it’ll do it with a new name.

By next October, First Marblehead will be known as Collegiate Trust Co.

That’s according to Dan Meyers, the Boston-based student lending firm’s chairman and CEO, who announced the planned name change during the company’s annual stockholders’ meeting Tuesday morning.

Meyers and the firm he founded sailed virtually unchallenged through the meeting, which included votes for a 1-for-10 reverse stock split as well as compensation packages for senior executives and an increase in the number of shares in the company’s stock-incentive plan. “The business model is evolving,” Meyers said before announcing that the company would change its name to Collegiate Trust Co. by Sept. 30, 2014, the end of its current fiscal year. Read on.

 

November 12th, 2013

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