OTHER NEWS - Oct. 3, 1992
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Posner to Resign Post at DWG Corp.: Miami financier Victor Posner has agreed to resign as chairman and give up his controlling stake in DWG Corp. to settle a suit filed by shareholders. The suit alleged that Posner paid huge salaries to himself and his family while leaving the company with bills for his personal expenses. Posner will sell half his 46.2% of the voting shares in DWG to a limited partnership controlled by investors Nelson Peltz and Peter May. The other half will be exchanged for non-voting preferred stock worth $72 million. Miami-based DWG owns a diverse group of companies including Arby’s, Royal Crown Cola, Southeastern Public Service Co. and National Propane Corp.
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