Many former employees maintain that when Friedman’s emerged from the 2004 bankruptcy after being purchased by hedge fund Harbinger Capital Partners, an era, albeit a short one, of severe incompetency and ineffectual leadership conducted by the new board of directors, company officers, and other key executives resulted in the 2008 bankruptcy, which ended with the liquidation of both Freidman's and Crescent.
Harbinger was founded by its Senior Managing Director Philip Falcone and Harbert Management Corporation, a Birmingham, Alabama-based investment company that provided much of the original funding.
capital | Australian Capital Territory | venture capital | Capital (political) | capital city | Bain Capital | Capital One | Capital Centre | European Capital of Culture | Capital punishment | Capital city | TPG Capital | Duntroon, Australian Capital Territory | Kingston, Australian Capital Territory | Financial capital | Cerberus Capital Management | Capital FM | Capital | Venture capital | Capital Region International Airport | capital punishment | Sequoia Capital | Oaktree Capital Management | Ngunnawal, Australian Capital Territory | GE Capital | Casey, Australian Capital Territory | Capital punishment in the United States | Capital One Bowl | Belconnen, Australian Capital Territory | Beijing Capital International Airport |