Archive: Sunrise Senior Living

Morning Brief: Inauguration Frenzy Hits Washington

Some visitors coming to Washington for President-elect Barrack Obama's inauguration are getting caught up in a frenzy in which thousands of people have come out of the woodwork to make a quick buck by offering their houses for rent. But the arrangements -- with deals being brokered largely between amateurs,...

By Alejandro Lazo | November 20, 2008; 09:05 AM ET | Comments (0)

Klaassen Steps Down As Sunrise CEO

By Zachary A. Goldfarb Paul J. Klaassen, the chief executive of McLean-based Sunrise Senior Living, announced Wednesday night he is stepping down, more than a quarter-century after he founded a company that became the nation's largest senior living provider. He is being replaced by Mark Ordan, a founder of Fresh...

By Dan Beyers | July 16, 2008; 08:06 PM ET | Comments (0)

Sunrise Ousts More Execs Over Accounting Woes

From the Associated Press: Sunrise Senior Living Inc., which operates senior-residential facilities, said Thursday it has terminated multiple senior finance executives after an investigation found evidence of inappropriate accounting between the third quarter of 2003 and the end of 2005. Thomas Newell, president since 2000; Larry Hulse, chief executive of...

By Dan Beyers | December 20, 2007; 11:15 AM ET | Comments (0)

Shareholders Rebuff Sunrise

Shareholders have rebuffed Sunrise Senior Living, the McLean assisted living provider, on two issues of corporate governance. Sunrise said an overwhelming number of shareholders at last week's annual meeting approved a nonbinding resolution to elect all nine of the company's directors every year, rather than three per year. A pension...

By Dan Beyers | October 22, 2007; 06:35 PM ET | Comments (0)

Sunrise's Ousted CFO Files Suit

Sunrise Senior Living's former chief financial officer is firing back over his ouster from the senior housing giant. Bradley Rush has filed suit for breach of contract and defamation in Fairfax Circuit Court, claiming he was wrongly discharged in May 2007 after discovering accounting problems. Sunrise disputes the account. "Sunrise...

By Dan Beyers | September 18, 2007; 04:23 PM ET | Comments (1)

Sunrise Offers A Glimpse Of Its Quarterly Results

Sunrise Senior Living, which put itself up for sale last month, said revenues under management during the second quarter rose 8.2 percent to $581.9 million. The McLean-based assisted living provider said the rise in revenue under management, or revenue from properties the firm owns or manages, was due to the...

By Dan Beyers | August 10, 2007; 12:07 PM ET | Comments (0)

Sunrise To Explore Sale Of Company

Sunrise Senior Living announced that its board has decided to explore the company's strategic alternatives, including the possible sale of the company. The McLean company has been under pressure from several large investors, some of whom have urged it to change management and consider selling, in order to boost its...

By Dan Beyers | July 25, 2007; 04:42 PM ET | Comments (0)

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