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

Small business sales go big

March 2014
Tuesday, February 25, 2014


Sales of small businesses surged in 2013 according to the biggest Internet marketplace of such transactions, BizBuySell, increasing to 7,056 reported sales, a 24% increase over 2012, when they dropped 7%. Portland Metro sales tracked by the site grew 9% to 73, capping three years of solid growth. On top of that, Portland’s median sale price jumped 67% to $250K, versus just 13% to $180K nationally. Portland was one of just six metros tracked where the median sale price matched the median asking price, with sellers getting, on average, 92% of what they asked.

BTNMarch14 tableBTNMarch14 line

BTNMarch14 piePDXBTNMarch14 pieUSA


Why I became an educator

Tuesday, March 04, 2014
03.04.14 thumbnail teachBY DEBRA RINGOLD | GUEST CONTRIBUTOR

How can we strengthen the performance of institutions charged with teaching what Francis Fukuyama calls the social virtues (reciprocity, moral obligation, duty toward community, and trust) necessary for successful markets and democracy itself?


The 2014 List: The Top 34 Medium Companies to Work, For in Oregon

March 2014
Thursday, February 27, 2014

100best14logoWebOur 100 Best Companies project turned 21 this year, so pop open the Champagne. Our latest survey gives us plenty to cheer.



Green eyeshades in the ivory tower

Friday, April 04, 2014
EducationCosts BlogBY ERIC FRUITS

The rapidly rising cost of higher education has left even the smartest researchers and the wonkiest of wonks wondering what’s happening and where’s all that money going. More and more, prospective students—and their families—are asking: Is college worth the cost?


Car ignition recalls and lean product design

Contributed Blogs
Friday, April 11, 2014
04.11.14 thumb gm-gettyTOM COX | OB BLOGGER

The auto industry is starting to share more costs across manufacturers for complex and challenging design work, like new transmission design, and certain new engine technologies. What we’re not yet seeing is wholesale outsourcing of “unavoidable waste” components to specialist companies.


Leader's bookshelf

Contributed Blogs
Friday, March 14, 2014
02.06.14 BooksBY TOM COX | OB BLOGGER

Five books that will make you a better leader.


Workplace benefits

March 2014
Tuesday, February 25, 2014

Health care and vacations rule. That’s the consensus from our reader poll on workplace benefits that help retain and recruit employees.

Oregon Business magazinetitle-sponsored-links-02