In an e-mail to employees Thursday owner and CEO of C.A. Jones Management, Chuck Jones relinquished control of some of his companies to a "consultant", Myles MacDonald of Kraft CPA in Nashville, TN as requested by his business partner David Griffin.
Jones says he will retain his ownership but won't be involved in daily operations with the companies: Black Rock Investments, South Eastern Book Company, College Book Renter, Integrated Computer Solutions and Book and Bean a retail store. (Correction WKMS had originally reported MacDonald as a receiver, which must be court appointed, a court did not appoint MacDonald.)
This decision stems from a federal complaint filed by Griffin in March. Griffin requested Kevin Crumbo of Kraft CPA to serve as receiver for some of Jones' companies: Integrated Computer Solutions, Black Rock Investments, South Eastern Book Company and College Book Renter. The appointment of MacDonald as a consultant comes from an agreement between Jones and Griffin, that lawsuit has been dropped.
In 2011 Jones was cited as employing nearly 300 people at his businesses.
Jones was Murray's 2011 citizen of the year and has been a major philanthropist within the community. His management company has also been named a Murray Chamber of Commerce business of the year. The letter doesn't seem to address a recent lawsuit WKMS reported on earlier this week involving unpaid loans totaling more than $11 million to Planters Bank in Hopkinsville.
The full e-mail to employees obtained by WKMS is below. This story will be updated as we learn more on the future of Jones' employees.
To: All Employees
From: Chuck Jones
Date: August 30, 2012
Subject: Organizational Changes and Updates
Good evening everyone -
As most of you have probably figured out on 8/20/2012 David Griffin and I signed an agreement that dropped his lawsuit against me and the companies. In this agreement I agreed to step down as CEO, but I retained my ownership and my seat on the board of managers. David and I mutually agreed to allow Myles MacDonald of Kraft CPA to become a “consultant” responsible for the day to day management of all Griffin/Jones Companies, primarily the two book companies and ICS. Over the past 10 days, Mr. MacDonald and I have discussed a future role for me, and Myles has offered for me to continue to be a consultant moving forward. I do appreciate his offer, but I told Myles today I will not be accepting that role. Myles and I have different views on what is in the best interests of the companies. I have always been of the opinion that each of the companies in which David and I were owners contributed to the overall success of the group. Myles is of a different opinion and is primarily focused on the success of CBR.
While I don’t agree, I do see his point of view. I will retain my ownership in the companies and will provide my opinion in board meetings. At this point though I will not be part of the day to day decisions or strategies implemented by Myles. I wish you, the companies and Myles the best. I will have no input on your job moving forward. I think that I have been very fortunate to have worked with the best team in Murray. As things change as they always do I hope that each of you are able to get everything you want and need out of life. On behalf of me and my family we sincerely thank you for all you have done for us. The last 5 years has been mostly a true joy to be part of. Good luck.