Home Must Reads Golden Temple dispute over

Golden Temple dispute over

| Print |  Email
Must Reads
Tuesday, November 06, 2012

The three-year dispute over control of a Eugene natural foods company was settled with business and religious leaders dropping claims against each other.

The feuding religious leaders and business leaders of the Sikh community founded by the late Yogi Bhajan agreed to drop their legal claims against each other. They will move on with an orderly give-and-take of payments and a transition to new leadership for the community’s for-profit companies, including East West Tea Company LLC. East West Tea Co., which packages tea under the Yogi Tea brand, is what’s left of Golden Temple of Oregon, which built such brands as Peace Cereal and Yogi Tea, and has long been a cornerstone of Eugene’s natural foods industry. Golden Temple sold its cereal division to Hearthside Food Solutions in May 2010 for $71 million.

Under the settlement agreement, former Eugene resident and prominent local businessman Kartar Singh Khalsa, will resign from the Unto Infinity management board that controlled the Sikh community’s for-profit companies and religious and educational charities. He has agreed to stay on as CEO of the tea company until Dec. 31, and he will relinquish his ownership interest in Golden Temple of Oregon, which he valued at $23.5 million in his Chapter 11 bankruptcy filings.

Read more at The Register-Guard.

{biztweet}golden temple{/biztweet}

 

More Articles

Trends in business succession

News
Thursday, July 03, 2014
TrendsBY TED AUSTIN & MIKE BAELE | GUEST CONTRIBUTORS

The Office of Economic Analysis announced that Oregon is currently enjoying the strongest job growth since 2006. While this resurgence has been welcome, the lingering effects of the 2008 “Great Recession” continues to affect Oregon businesses, especially with regard to estate planning and business succession.


Read more...

Buyer's Remorse

September 2014
Tuesday, August 26, 2014

Parents and students paying for college today are like homeowners who bought a house just before the housing bubble burst.


Read more...

Shipping News

September 2014
Tuesday, August 26, 2014
BY JENNIFER MARGULIS

In 2012 The Dalles, a city of some 14,400 located 75 miles east of Portland and often seen as the poor cousin to adjacent Hood River, completed a massive project to revitalize its dock.


Read more...

Fast Food Slows Down

September 2014
Tuesday, August 26, 2014
BY KIM MOORE

The ubiquitous fast-food restaurant may be on the decline.


Read more...

Register for 100 Best Companies survey

News
Wednesday, August 20, 2014
OBM-100-best-logo-2015 150pxwBy Kim Moore | OB Editor

The 2015 survey launched this week. It is open to for-profit private and public companies that have at least 15 full- or part-time employees in Oregon.


Read more...

Podcast: Interview with Steve Balzac

Contributed Blogs
Tuesday, August 19, 2014

082014BalzacBY TOM COX | OB BLOGGER

Tom Cox interviews Steve Balzac, author of "Organizational Psychology for Managers."


Read more...

Oversight? Or gaming the system?

News
Monday, July 14, 2014
AmazonBY VIVIAN MCINERNY | OB BLOGGER

Some people think Amazon’s winking eye logo is starting to look like a hoodwink.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS