Monday, October 24, 2016

Another day, another $2.6 million for Dov Charney

Christmas came early for American Apparel founder and Silver Lake resident Dov Charney. On Friday, the shares of American Apparel rose after the company said it’s lenders had extended its credit line, according to the LA Business Journal. How much did the stock rise? Seven cents a share. That does not sound like a lot but Charney, who is the firm’s single largest stockholder, owns more than 37 million shares. That adds up to a gain of more than $2.6 million. Charney’s one-day windfall came a few days after the company announced it was laying off hundreds of workers.

Photos: AmericanApparel.net

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