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Suppressing memories of Walter Industries?By KRIS HUNDLEY
© St. Petersburg Times, Robert G. Burton blew into Tampa in April 2000 with big plans for salvaging troubled Walter Industries. He blew out of town less than four months later, leaving angry employees and directors behind. But it didn't take long for Burton to find a new turnaround target. In December, he took over as president and chief executive of Moore Corp. Ltd., a struggling business forms company in Toronto. In six months at Moore, Burton has slashed $100-million in expenses and fired 1,300 workers. He's announced millions of dollars of new orders and promised to cut second-quarter losses by half. Burton also has sparked a lawsuit by retirees opposing his plans to pull a $165-million surplus from the company's pension fund. Meanwhile, shares of Moore, which is listed on both the Toronto and New York stock exchanges, have nearly doubled since Burton joined the company. Now that he's on to his latest challenge, Burton apparently has decided that his brief term at Walter Industries is best forgotten. His resume on Moore Corp.'s home page lists his previous experience leading a successful turnaround at World Color and earlier executive positions with Capital Cities-ABC. His turmoil-wracked tenure at Walter doesn't even rate a mention.
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From the Times Business report
From the AP
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