My turn.
Dan, I certainly would not say we are stuck in a GNET time warp. We (GNETers) are first and foremost, investors. We invested in this company, the management, the team, and most importantly we invested in the dream and vision. We are investors, not traders.
When GNET and INSP merged (key word here) we believed in the concept and the larger picture. We were told our management team was to continue and Russell Horowitz would be at the helm.
I have been in business for many years, I have run companies, I have purchased companies and put together buy outs and LBO's. Never, would I have gone through with a deal had I ever believed I would shut down in less than 6 months. When you merge with a business, your biggest asset is in the people and maintaining the order that was there when you first became interested. Unless you have other ideas.
So what does this lead me to believe? It tells me to follow the money. GNET had over $300Mil in cash, the company was purchased with a stock transaction, management is gone and news is released that the parent corporation will be selling off or getting rid of many of the GNET business. This is not an overreaction, but news that has been released. Simple deduction that even my 5th grader can figure out, INSP made a great deal to get the cold hard cash.
When you listen to Jain speak are you reassured that your investment is safe and the company will grow and prosper? Do you know what has happened to many of the prior GNET acquisitions? I don't hear much about Haggle, DogPile, IQCharts and many, many more. I see the rock that held this place (SI) together (SI Bob) let go, and the list goes on.
Sure, I could move on, take my losses, and add it to my list of stupid mistakes. For some reason I am having a hard time letting go of the vision. I feel we have been deceived and I don't like that very much.
Do you know that this thread had been around for a long time? Many in this group attended last years stockholders meeting and presented Russell with a plaque. We had a list of Netrillionaires which was an honor to be a part of. We have laughed, cried and gotten angry together. Several of us met and vacationed on Maui together. We have added babies, gotten married, lost members, and personally met for various reasons. The residents here have been another extension of the Go2Net Team and it hurts to see it crumble.
~Sarkie |
