Jill Smith out
Jill Smith is out as chairman of SRDS, the publisher of Standard Rates & Data Service directories. Board member Stuart Karu, a former advertising executive, has stepped in as the interim chairman. Mr. Karu was one of the investors who teamed up with former Rolling Stone President James Dunning and Continental Illinois Ventures to buy the company from Maxwell Communication Corp. a year ago.
Kirk Kerkorian's Tracinda Corp. withdrew its $55 per share offer for Chrysler Corp. and said it would evaluate its options. Tracinda's bold $22.8 billion bid to acquire Chrysler came undone because of a lack of financial backing. Tracinda said its 55 million Chrysler shares are not for sale and that its goal of maximizing value for all Chrysler shareholders remains unchanged.