Facing a serious downturn in its business, and having already forced out its CEO and CFO, Jamba has hired former Safeway executive James White to help turn its sagging fortunes around. According to the San Francisco Business Times, the company lost $12.4 million in the third quarter, compared to a $22.4 million profit this time last year. White, who used to be Safeways senior vice president of consumer brands, will earn $500,000 a year, with a $100,000 signing bonus.
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