Vonage CEO steps down

Posts: 60 · Full Forum Member Joined: Jan 19, 2006 Posts: 60

I think the writing is finally on the wall...
from MSNBC.com this morning:

NEW YORK (Reuters) - Internet phone company Vonage Holdings Corp. <VG.N> said on Thursday its chief executive stepped down and it plans to cut jobs and costs, as it seeks to revive its struggling business.

Vonage did not say how many jobs would be eliminated, but it plans to reduce its general administrative expenses by $30 million through the rest of 2007 by cutting its workforce and consolidating operations.

Posts: 159 · Posted: Thu Apr 12, 2007 10:20 am Post subject: Re: Vonage CEO steps down

jmelcher wrote:

I think the writing is finally on the wall...
from MSNBC.com this morning:
....

It was written on this wall here... vonage-forum.com/sutra106533.html#106533" target="_blank">http://www.vonage-forum.com/sutra106533.html#106533

This is the inevitable.

Posts: 192 · Vonage Forum Master Joined: Oct 08, 2004 Posts: 192

The Vonage founder's return to the CEO chair means the company is less likely to settle with Verizon or look for a buyer, says Fortune's Stephanie Mehta.

So put aside any notions that this company might seek to settle its brewing patent dispute with Verizon. Or that the company is for sale.

Jeffrey Citron pulls a Michael Dell

Posts: 159

LuisPR wrote:

The Vonage founder's return to the CEO chair means the company is less likely to settle with Verizon or look for a buyer, says Fortune's Stephanie Mehta.

So put aside any notions that this company might seek to settle its brewing patent dispute with Verizon. Or that the company is for sale.

Jeffrey Citron pulls a Michael Dell

With all due respect, everything money can buy is for sale. All you need is a buyer.

This company is very much for sale.

Posts: 20 · Vonage Forum Associate Joined: May 31, 2006 Posts: 20

Indeed. It is a public company -- it is for sale every day. And (to my surprise, anyway) at the current price level there seems to be a vigorous argument between buyers and sellers about which way the stock goes from here.
I'm surprised at this point for 2 reasons: (1) As has been pointed out here by trillian and others, this is a pure non-mobile telephony service company and the price that can be charged for this service is being driven to zero. (2) The stock bounced on the news that Citron is back as CEO, but surely he's been calling the shots as chairman all along, so what's different?
So I'm surprised there are optimistic buyers jumping in here, and I'll still be surprised when they are buying at $1. Why anyone wants to own a piece of VG is completely lost on me.

Posts: 159 · Posted: Fri Apr 13, 2007 10:10 am Post subject:

xmeyer wrote:

So I'm surprised there are optimistic buyers jumping in here, and I'll still be surprised when they are buying at $1. Why anyone wants to own a piece of VG is completely lost on me.

Gambling is driven by electro-chemical reactions in the brain that some people cannot control very well.

For dumb money investors, their notion is that something that has come down in price for so long must ultimately go up. In Vegas, this is analogous to the black number that is surely going to come next after so many red numbers...

Sometimes they win.