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Lending CLub CEO resigns
yankeefan:
Loan sales to large investor did not meet investor's criteria.
Lending Club, Leading Online Lender, Says Its Chief Resigns
loanuniverse:
I am still holding from Ipo. :(
TotoMMB:
--- Quote from: loanuniverse on May 09, 2016, 10:19:03 am ---I am still holding from Ipo. :(
--- End quote ---
They did turn a profit. Re-up! Dollar cost average down!
Urbi_et_Orbi:
Curious to see how this evolves. If multiple people in top leadership are being cut out, it is tempting to consider the possibility that this may not be the full story.
havastat:
Something doesn't add up here. From what's been published it seems there were one or two problematic deals, the sort you could rectify by giving people their money back and a discount on their next purchase and moving on.
Either LaPlanche did more that isn't being discussed, or the board wanted to fire him anyway and was scouring the records for small mistakes that might serve as a pretense. LaPlanche had a long-term, Amazon type view and was focusing on long term growth rather than short term profits. Perhaps the new CEO will have a horizon more in line with a Wall Street's.
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