OFB Prez Tracas Out As Cendant Closes On Orbitz

'I'm appreciative of the offer for a position of significant importance, budget and overall responsibility, but I've opted not to relocate and decided to go out on my own,' said Tracas, who had just assumed his role in June. 'I have great respect for [Cendant TDS chairman and CEO] Sam Katz and his organization, but the timing, location and other factors just weren't right for me at this time.'