COMPANY TOWN ANNEX
From Times Staff and Wire Reports
IDB Expects New Auditor Soon: The Culver City telecommunications company said that by the end of the month it probably will hire a replacement for Deloitte & Touche, which quit in a dispute with IDB over the company’s accounting practices. Separately, an IDB executive confirmed that President Edward Cheramy was two months tardy in reporting to the Securities and Exchange Commission that he sold 300,000 shares in March. The executive called Cheramy’s action “an honest mistake” that occurred when he changed brokerage firms after moving his personal residence from Los Angeles to Jackson Hole, Wyo.
