BTW, does FSTW really need a Senior VP of Professional Services? Is he going to have a staff of junior VPs running around? Sounds like a bureaucracy to me.
Actually, if memory serves, this would make them one senior exec leaner than a year ago (even after adding Dever and bringing back Richard). Also, I think you are really reaching for things to criticize when you complain that his title implies a bureaucracy (though I realize you may have been less than totally serious on that point). The only potential meaning I would read into it is that, in light of his financial commitment AND IF he succeeds, he would likely be first in line for CEO if/when Richard decides to step aside again. Of course, that's pure speculation on my part, but in his shoes I'd have asked for a "Sr." in my title too.
BTW, nice calculations, but if he doesn't do his job well, preferred holders will likely be screwed too. Should the company fail in fairly short order and the preferred holders get paid out leaving nothing for the common, we'd get to have a good, old fashioned shareholder suit. There would certainly be plenty to argue about (first being how the company could fail while still having money to pay out the preferred), making it much less likely the preferred holders would walk with very much. Do you really think that any rational, reasonably intelligent business person would put their hard earned money into a company they didn't believe in simply because they'd get paid out first if it fails? If so, I've got some Brooklyn Bridge Preferred Series A you might be interested in.
Shege, as nearly everyone here seems so eager to point out, you were right in your bearishness when others of us where buying at 2-3 times the current price. Yes, the company has failed, so far, to execute. Now, though, your historically correct call seems to be going to your head. These latest jabs (they hardly qualify as serious criticism) are a reach at best. Are you just hanging out now to hear everyone sing your praises? Post a comment, any comment, don't bother to think it through. When someone calls you on it, Hank and others will remind them how right you were last year... as if that makes today's criticism any more valid.
With all due...
Bob |
