Yes, they did own Pinnacle.  The goal was to integrate it into their consumer division and increase their presence there - also the theory behind purchasing M-Audio.  Sadly, they don't seem to have much of a clue regarding what they intend to do.  They have also just changed their President/CEO yet again.

Since they are a public company, financial results are easy to find.  2008: lost $198.2 million; 2009: lost $68.4 million; 2010: lost $37 million; 2011: lost $23.8 million.  2012 data is due in a couple weeks, and with the divestments, fire sales and other losses, I would think 2012 will be worse.

Just give me the $23.8 million these idiots lost, and if you need me, I'm in Caymans, on the beach, with a Pina Colada in my left hand..   Look for the bright yellow t-shirt, and ray ban sunglasses...

So according to Seth it wasn't his decision to leave, they kicked him out....

sharke


So according to Seth it wasn't his decision to leave, they kicked him out....

"It happens."  We've all lost corporate jobs.  

A good friend of mine, was just let go from a fortune 30 company last month.  ....   and way, way back, I got downsized from quite a good job too.   Which is why I started my own business...  ( a micro bizz, which is why I need avids lost millions to get the caymans.. )

Unfortunately this economy is bloody rough...

Oh, one point of clarification, the numbers I posted were the net losses from operations, NOT the actual net losses.  From other activities, the actual net losses were often much less, particularly for the earlier years.  But, if that is what you are "getting" from "normal" business operations...

Wow, that's really bad. Thanks for the info.

sharke


So according to Seth it wasn't his decision to leave, they kicked him out....

Woa, where did that come from? That's not really a fact, it's speculation. I don't think he would ever say that publicly, even if it was true. I just hope this isn't a symptom of something bigger happening behind the scenes. I guess we'll find out when the next release shows up.

It is a fact..  he mentions it upstairs

LOL, I am getting rusty with my financial statement analysis - one has to pay attention to the real line items vs. the "lets try to make it better than it is" lines.  So, the actual net losses were as the really bad stated figures above.  The "make it less nasty" line was simply a ploy to make the ongoing operations results appear to be better than they actually were.

One other telling result: in Feb. 2005, the "industry standard" DAW maker's stock price reached a high of $66.90 per share... the stock is currently selling for about $7.99 per share.  Great investment, not! 

noldar12


craigb, there seems to be a deadly disease of some sort of staff infection going around CW land.  Maybe it was caused by an improperly baked cake using spoiled ingredients.  Who knows?

Ya!
 
Cake=Scone