Seeking Alpha is hardly the Wall Street Journal.
Plenty of authors who are front-running their own investments.
However, I'm sure the story is not far from the truth (if not completely factual).
Avid has been abysmally mismanaged for too long.
These executive don't give a crap about the company -- or its customers.
If they did, they would forgo some (or all) of their bonuses to keep it alive.
It's Gordon Gecko time and they just want to suck Avid dry and move to the next fire sale.
I feel for the employees who are left, doing their best to keep the ship afloat and moving forward.
But the people who have really been harmed are us -- in the form of pathetically antiquated features.
It makes me angry when I consider how much money I've given this company over the past 22 years.
---In Avid-L2@yahoogroups.com, <tcurren@...> wrote :
Avid Technology - CFO Pulls Ripcord As Bookings Crater And Liquidity Crisis Nears - Avid Technology, Inc. (NASDAQ:AVID) | Seeking Alpha
The good news is, even though there have been a lot of layoffs in the last few months (Frank Capria is one example), you'll be happy to know the execs are still getting their bonuses.
"In Q2, despite aggressive cost cutting, the company said it is facing a significant cash burn, of approximately $30M, partly because they need to pay out bonuses."
The good news is, even though there have been a lot of layoffs in the last few months (Frank Capria is one example), you'll be happy to know the execs are still getting their bonuses.
"In Q2, despite aggressive cost cutting, the company said it is facing a significant cash burn, of approximately $30M, partly because they need to pay out bonuses."
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Posted by: blafarm@yahoo.com
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this is the Avid-L2
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