Well since I don't post on any other thread when I feel the need, I will say a few words here. It doesn't take a genius to figure out what's not going on in WLV in regards to FNet. After 3 years and a few months, FNet is still not headed in the right direction IHO (definitely not in my HUMBE opinion.
Less than two years ago, I got wind that FNet was directing its attention overseas. In basic terms, (more minutes, more profit) according to the Kuykendall/Magruder (over the hill gang). Remembering correctly, I stated that more emphasis was needed directly related to the internet. A customer base will result in more telephony minutes if advertising is directed (freely) to the FNet client. As we all can see, the FNet gang is no longer riding the open waves of oversea's telephony minutes. Value addes service's has been preached till most are blue in the face when regarding subscribers and keeping those in the fold HERE, and bring others into it. No doubt, things are still misguided in the direction an ISP should be taking. At the bare minimum, FNet should as least have 10k subscribers and VAS made known to them on a regular basis. FNet because of FCM is in such a unique situation that given the correct CFO results, the VAS to subscribers could easily curtail the $20 charge for connections. I don't see FNet going public any time soon, and if so.....? it would be quite an accomplishment.
I figured that since FNet opened the private placement of $2.50, things where really shaping up, but the latest 10 tells all. Its a shame the FNet gang traveled world-wide for a couple of years, just to bring in a lousy few minutes. Given the right advertising state-side, those dollars would be paying off in FNet subscribers, therefore allowing a DIRECT advertising campaign from within. You do whatever it takes to keep your customers.
Its beyond me, ATL has 56k through FNet, DFW the same, and more 56k around the nation. Why FNet has 900 or so subscribers after more than 3 years is beyond me, so far beyond me that I need to think like a 10 year old to understand it. Given the money that was spent overseas's (a very stupid expenditure) I could have easily brought in a 10000% increase in subscribers for FNet. How much money do you think was burned from the last two years of the Kuy/Magudr gang? I would bet over 500k, and more like 1 million given the salaries, oversea trips, FNet shares, etc.
Oh well.....just another stupid mistake from the Peters gang. I hope for the sake of all that attend the FCM/FNet meeting, there is at least coffee/cake/ and more than a 5 minute meeting to curb the appetite of those wanting to sell. The techology is there, but the right marketing plan has never been. !!
Best
Stephen |
