Subscribe to this topicForums > General Investment Discussion > Topic: Yet, another CEO bailing on the company they created......
| Nov 22nd 2007, 05:45 James619 Bagley |
Yet, another CEO bailing on the company they created...... | |
| There seems to be a growing trend of CEO bailing on their companies. The latest, Xavier Mohr, has now resigned as of 1/1/08. This is very disappointing in deed. The people who have started their companies are the ones who are most passionate about making them work. They want to see them grow, and grow big... However, in the SL world, the opposite seems to be true. They start the company, get them going, then want to bail. Not trying to pick on Xavier, however, this is never good for the investor. So to the future CEO's of the companies soon to be coming.... think about what you are doing before you start that IPO. Because if your not going to invest the time to run your company, why form it? And why waste the investor's time and money? Disappointing. That's all I got to say. |
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| Nov 22nd 2007, 06:00 Maelstrom Baphomet |
Re: Yet, another CEO bailing on the company they created...... | |
| When I look to invest I usually ask the CEO if they're putting in a 1 year or more commitment to their firm and I also ask them for how they'd plan a closure or transition. Privately, I've known that Xavier has been looking for a way to minimize his in world presence, his interest has come and gone with time and I know that SLR has been setting heavy on his conscience, that said, I expected this and planned my investments based on it. SL is not like in world markets, the corps are groups of people pretty much pooled in an interest of making a profit if and however they can. Kind of like the clans on World of Warcraft, but using a more up-to-date stylization of financial structuring to help control ownership. That said, it's wise to know your corp's leadership, to not just invest based on numbers or hearsay, but to actually talk to them and get to know them and their goals. My investors will tell you, my mind is open to picking, that's why many got on board with me to begin with. That said, it's another case of, "If you do your homework, you know what you get, and if you don't.. it's not the CEO's fault." He can't come out and just say, "Oh, I'm thinking of resigning." When he has not yet made his decision as it'd be abandonment of his fiduciary duty and result in a direct stock crash right away and could be grounds for accusations of manipulation. It is only after the decision has been finalized that it could be announced without concern for market ethics. Besides, I think it's more than possible to find someone just as passionate about growing SLR. It's just a matter of being picky and finding someone excited about second life media who has the talents and the skills. It won't be easy, but it can be done. You'll only be disappointed by a stock you do not research well enough to understand its future. |
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| Nov 22nd 2007, 06:00 Maelstrom Baphomet |
Re: Yet, another CEO bailing on the company they created...... | |
| Minor correction: in world = real world. | ||
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| Nov 22nd 2007, 06:26 James619 Bagley |
Re: Yet, another CEO bailing on the company they created...... | |
| I understand what your saying.....and I'm not just choosing SLR, but they are the latest. When you start your IPO's, everybody states "they're in it for the long haul"....but then they find out SL takes a lot of time..... Then, OMG, why are people wondering why i don't have the time to spend here in SL, I do have a real life........ meanwhile, their company now has to wonder what is happening next. I know things come up. Things happen. All of a sudden, you just don't have the time. A plan of action should have been in place before it does. The biggest question should always be "If something happens to me in my world, what will happen to this corp.?" before the IPO is started. Now with Xavier Mohr, this was coming. I saw it when he sold his shares to Arb. It was to be expected. I'm trying not to pick on him.....but I feel that SLR is Xavier Mohr, so the company will not be the same without him. Am I wrong? |
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| Nov 22nd 2007, 07:31 James619 Bagley |
Re: Yet, another CEO bailing on the company they created...... | |
| Funny about his posting 2 weeks ago....... http://www.slcapex.com/forums/topic/SLR/997 |
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| Nov 22nd 2007, 07:39 James619 Bagley |
Re: Yet, another CEO bailing on the company they created...... | |
| Sorry...that was just FIVE DAYS AGO...... | ||
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| Nov 22nd 2007, 08:14 Cash Yiyuan |
Re: Yet, another CEO bailing on the company they created...... | |
| Its not bailing, think of it as succession. CEO leave RL co's all the time, does not mean that the company goes down. Usually they leave with a golden handshake ;) | ||
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| Nov 22nd 2007, 09:24 iVentures Volitant |
Re: Yet, another CEO bailing on the company they created...... | |
| A company will only be successful with great leadership of management. As Xavier decides to leave SLR for RL events, SLR's success will be based on the successor appointed by Arb. Xavier is providing a month and a half notice which is more than sufficient time for Arb to find a successor. There is much potential and shareholders should look forward to see what the successor has in place for 2008. iVentures Group www.sliventures.com |
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| Nov 22nd 2007, 10:56 Xavier Mohr |
Re: Yet, another CEO bailing on the company they created......
Edited by author Nov 22nd 2007, 11:08 |
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| James, I understand you weren't around so long ago when I actually sold my business to Arbitrage Wise. On June 19th I announced here (at what was then called AVIX) that I had sold my business and would be resigning within 60 days (http://slcapex.com/home/story/SLR/166). For varied reasons, I ended up pushing that back and staying here. I don't care to really get into that. That's the past. But I guess the bottom line really is that nothing has changed only except to support and solidify my original decision. What I am saying is that I didn't really do this out of the blue. I think most of MY personal long-time shareholders knew it was coming. As an aside to this, as shareholders you can't realistically expect CEOs to stay in their positions forever. Staffing changes happen. I have to point out in this case I am not owner of the company, just the technical CEO. I realize a lot of IPO buys are made based on the CEO's personality... and I am really not sure what to say to that. I'm not really sure if I agree/disagree with that. As to your harsh comments, I have to tell you: You could have done your research. Where is due diligence? I have to say, the whiney uneducated investor syndrome gets a little old. I announced months before you even participated here that I needed to leave SLR. However, less than 2 minutes research could have shown you that. In any event, as I stated I am not going to totally disappear. I hope I can be even MORE involved with the financial community here in and around Second Life after 1/1/08. I'm going to continue writing and working for SLR as time permits, and am not canceling my SL account in the forseeable future. I've just needed follow through with my original plan to leave the exchange side of this for a long while... I take full responsibility for not doing this sooner so that this issue could be resolved by now. Xavier |
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| Nov 22nd 2007, 17:40 James619 Bagley |
Re: Yet, another CEO bailing on the company they created...... | |
| Ok...the whiney, uneducated investor syndrome, unless I'm mistaken, is what most of us are. By the way....that's cute. However, did you just 5 days ago state you were looking for a bright future in your announcement when you decided to cut the second dividend and the buyback? Didn't you state to ALL of us whiney, uneducated investors to "...but for now just hang in there and I will let you know something as soon as I do."? I guess it a different story for ceo's and management, like Strange Ranger, who also bailed. So let's see....ceo bails.....general manager bails....and I'm just the whiney, uneducated investor, who should have done "due diligence" after being told just 5 DAYS AGO to just hang in there.....future is bright.....I know.....let's post your comments...... "SLR activities are going well. We have had great upsurge in traffic and a lot greater user participation on the site - a good thing. We have switched to the same AdSense account that CapEx uses, so I am unable to report or assess revenue in that regard at this time. Given the trend I saw in August, September, and October though I have very high hopes. Last Saturday I promised a dividend and buyback today that I am having to postpone at this time - I have been extremely busy today with SLR work and RL things and had no time to post an announcement before now. Arb and I discussed last week hiring a contractor to do a web template redesign or seeking a "prefab" upscale web template to purchase, so I would like to see if we really are going to go through with this or hold off... and how much, if anything, said projects will cost us... before issuing further dividends. I am assuming this would be a big expense if contracted out, but nothing is final right now. I am still looking into some existing more economical template options as well. I promise to pick up the schedule that I had promised for today as soon as I can or as soon as I know something. I will keep you updated. I apologize for the turnaround but at this time we need to wait and see what - if anything - we are going to do in regard to this. SLR remains backed by good cash reserves and has grown more in the past two weeks than in the month prior to that. I am more excited about SLR progress right now than I have been in quite some time... but for now just hang in there and I will let you know something as soon as I do. Thanks, Xavier" Was all of that complete BS? 5 days ago. And I fail to exercise "due diligence"? |
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