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Matt at the OC Register reports that New Century Financial ousted its CEO Brad Morrice on Friday. Morrice, who leaves with a decent $5 million chunk of cash pending approval via the bankruptcy process. From the post:
A regulatory filing today by New Century said Morrice was terminated
“without cause� and that he also resigned from the company’s board. It
also said it closed the sale of loans, one of its last major assets, to
Ellington Capital Management Group for $58 million.
Where will we see Mr. Morrice next? My bet - the witness stand.
Was he posing as a potential model for Cal?
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