A post from Yahoo: take it for what its worth.
messages.yahoo.com
questions answered as best i can
by: diesel_dslam_2000 2/25/00 12:34 am
Msg: 36168 of 36180
Who made the call? Pascoe or the Chuckies?
according to the arun from ADCT (he is the guy directly underneath Bill **something**) Chuck Straub and Mike Pascoe were at the company until 2am tuesday to try and get the deal to go through. in that sense, they both did the deal. by the way, it seems the consensus is that the founders agreed to the deal because they were hoping to retire soon (they are kind of old) and wanted something safe.
Why no premium? What happened?
that is the question we would like to know. we believe we are in the right place at the right time and were shocked at the deal. we were even more shocked when he announced we would not get our options vested, but would get an extra five days of vacation. his (ADCT)encouragement to us was that we were getting an even better deal than if our options were vested because we get a company that has solid returns of 40% a year on stock price. i believe that would have been reasonable about ten years ago, but in this day and age, everyone knows how explosive broadband will be. ask copper mountain.
Wouldn't the release of those double secret contracts have made PAIR much more valuable?
i cannot answer about the secret contracts. i knew about bell atlantic, but according to what we heard, it was never a done deal. it was just close to being done. we have contracts in the work with some large CLECs and IXCs and if just one of those contracts were successful, i believe our stock could have risen above $20. our cash, assets, globespan stock, and the fact that we are a buzzword company (DSL) would already be enough to support us above $15.
How about some What, When, Why, and Where?
there was no what, when, why, and where for most of us. even the engineering managers and directors barely knew of the deal from what i heard. it seems that the director of the avidia project, ie: the guy in charge of the whole project, could not believe what a bad deal he got. he is certainly a key person and i don't believe he was offered a stay on package yet. they said they will disclose the buyout package to employees in one month. if that is the case, i am not sure how many will be on hand to receive them.
sorry guys. i wish i could tell you more, but that is all i know. oh...by the way, we are hoping for a new bidder. i don't know the likelihood, but the employees i know are all hoping the deal breaks. remember comcast and media one? it might be fantasizing and wishful thinking, but they can't take away our hope...just our money |
