Summary
Cone Mills Corp. and the people who run it - Company profile
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Extract
The Cone Heads.
It"s not a matter of who owns but what runs the state's second-largest private company. Does debt?
Not too long ago, you knew from the name who owned Cone Mills. Now it's not so simple to determine who controls the 100-year-old company, which ranks second on Arthur Andersen & Co.'s list of the state's largest private companies. Chairman Dewey Trogdon owns 10 percent of the common stock, but he claims he might as well be holding rubles. There's no public market for his shares. Besides, loan covenants prevent him from selling them anyway. Each hourly employee owns stock - a twist that must have old-time mill lords twirling in their graves. But some workers are bitter because their shares act more like bonds: The price stays the same no matter ho...See the full content of this document
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