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Critics now in charge at Bally: So what's the plan? Stock of beleaguered gym chain still trading under $3 a share.

Publication: Crain's Chicago Business
Publication Date: 01-JAN-07 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Critics now in charge at Bally: So what's the plan? Stock of beleaguered gym chain still trading under $3 a share.(Bally Total Fitness Holding Corp.)

Article Excerpt
Byline: GREGORY MEYER

A year after two hedge funds besieged Bally Total Fitness Holding Corp.-trying to shake up management of the ailing fitness club chain-the activist investors are now running the company.

Now what?

Seven months after hedge fund manager Emanuel Pearlman agitated to remove Bally Chairman and CEO Paul Toback, the executive quit in August. Mr. Toback's replacements: acting CEO Barry Elson and interim Chairman Don Kornstein, board members with the backing...

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