Walter Turek

[Anonymous]

What's the deal with Walter Turek? He buys over 153,000 shares of Paychex in July 2009, then it is announced on Aug 18th that he "has entered into a Separation Agreement and Release" with the Paychex. That does not sound like a retirement package to me.
Any insight?

[Anonymous]

Amazingly enough Walter had a fallout with Gollisano, some say it was because he would not sell his minor league hockey team in Rochester to then owner of the Buffalo Sabres Gollisano. He held out for more money and now the Rochester team is an affiliate of Vancouver I think.

Gollisano wanted to keep Rochester club as a minor leagues for Buffalo and then would in turn increase the fan base.

Thats one story the other was that John Judge CEO was not a Sales friendly guy and Walter lost any voice he had. I may believe that because Tony Tortelerra VP of sales left as well...