Fulcrum Undergoes Executive Changes

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There have been management changes at cataloger Fulcrum Direct, Rio Rancho, NM. As rumors swirled that chairman and CEO Michael G. Lederer and president and COO Scott A. Budoff had been forced out of the company, executive assistant Penny Smith said only that they were "no longer in an operating function." Company officials didn't return calls last week. The company produces catalogs of children's clothing such as After the Stork, Playclothes and Little Feet. It also targets teen consumers with generation Y catalog Zoë. The catalog filed a registration statement with the Securities and Exchange Commission in March 1997 to initiate an initial public offering, but as yet remains private.

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