| If incompetence were a crime, Hoffman would be in jail. Instead he probably made a good deal of money off this buyout. |
|
 calvoiper
join:2003-03-31
Belvedere Tiburon, CA | Maybe you think Hoffman is incompetent, but originally there were three companies that jumped into DSL in a big way: Covad, Rhythms, and NorthPoint. Only Covad survives. The others went the bankruptcy/acquisition route.
calvoiper
--
VoIP--the death knell of remaining voice monopolies! |
|
 sporkmedrop the crantini and move it, sisterPremium,MVM
join:2000-07-01
Morristown, NJ
 ·Optimum Online
| said by calvoiper:Maybe you think Hoffman is incompetent, but originally there were three companies that jumped into DSL in a big way: Covad, Rhythms, and NorthPoint. Only Covad survives. The others went the bankruptcy/acquisition route. Covad did go bankrupt. They got rid of their debt, yet still manage to bleed money every quarter... Terrible managment + ILEC scheming. |
|
calvoiper
join:2003-03-31
Belvedere Tiburon, CA | My point was that Covad has maintained (and, with its new owners, continues to maintain) its independence, unlike, say, NorthPoint, which fell into the ATT maw years ago....
calvoiper
--
VoIP--the death knell of remaining voice monopolies! |
|
| Regardless, the stock holders get screwed (big time) and I'm sure Covad management will come out smelling like a rose.
Back when Covad stock was over 2.00, Hoffman said there was no way they were going to sell at those prices and than he goes ahead and sells for less than half that. LOL, I guess he didn't sell at those prices. 
--
"I've learned that depression is merely anger without enthusiasm." |
|
| reply to burgermeister
Amen brother. I worked at Covad from 2000-2004 and the incompetence of the mgmt team and board is borderline criminal. The fact that Hoffman is likely to make out with $2-$5 million from equity and incentives for driving a company into the ground just steams me. He should have been fired years ago yet here he sits. |
|
