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FYI, I am a buyer on the news here.
Titlewave,
the history you speak of is Sprague's history. It is silly to compare different people based on one common denominator. You, Awk and Snackman are all the same because you post on Wave. Silly, no?
As I stated earlier, I have heard Solms may be optimistic on timelines, but he sees things through. This is once again in play. I have little doubt that these guys will create follow through and I know low margin has not been their focus.
The biggest risk was just eliminated. This deal is more important in terms of validation than the $ amount itself. All is once again in play.
Off the back,
there are people out there who truly post with the intent of not influencing others to benefit themselves. Wouldn't it feel good to make money the right way?
The good thing about life is everybody gets to live with their own decisions. You have earned them.
My take:
** It would be impossible for any right-minded individual to not be disappointed with expected/unexpected dilution, especially on recent reassurance of things being on track.
** My research on Bill has told me that when he believes something can be done and when it actually can be done may vary...however, it typically does get done.
** Take a deep breath. I believe there is still hope.
That would have been less confusing if it was the Forrester Intel instead of the Forrester Wave...oh maybe not...he he ha ha.
Unknown presentation date Intelligent Decisions:
https://attendee.gotowebinar.com/register/2209660293533247490?cm_medium=test
Wed, Jan 28, 2015 12:00 PM - 1:00 PM CST
Secure Your Infrastructure by Using Tools You Already Have
Secure Your Infrastructure by Using Tools You Already Have * * * * * * * * * * * * * * * * * *
Thank you for your interest in this presentation. We apologize, but this webinar has been postponed and will not be taking place on Wednesday, January 28 as originally scheduled. It WILL be taking place on a future date to be announced. Please DO REGISTER for the webinar and we will notify you as soon as it is rescheduled. We apologize for the inconvenience.
* * * * * * * * * * * * * * * * * *
Join this webcast to learn how solutions from Wave and Intelligent Decisions:
? Unlock the benefits of a Trusted Platform Module (TPM) in the enterprise
? Can help you understand the core root of trust for your platforms
? Offer lower cost by taking advantage of existing hardware
? Deliver solutions that are easy to deploy, manage and do not impact end-user performance
Together, Wave and Intelligent Decisions rely on standards-based hardware to make managing your security and meeting compliance refreshingly straightforward.
Presenters:
? John Fitzgerald, CTO Wave Systems Corp.
? Dennis Pollutro, Senior Director of Strategic Initiatives at Intelligent Decisions
Banner adds,
apparently Wave has shifted to doing banner advertising. I think I have encountered at least 6 today that are centered around "Don't be next". I have searched on this term before and my cookies are obviously making me appear as target. All FYI.
The links of the ads all take me here: http://next.wave.com/?gclid=COGRqa35oMMCFZaLaQodLUEAUw
mymoney,
the way I see it, if Bill gets it on the rails, the momentum will continue. It is far easier to sell what has already been sold. I just don't see him not taking advantage of that momentum.
When people get burned, they are understandably afraid of what burned them. It is common sense. The void and the reaction to it is completely logical.
Anyone is capable of acting out of character, but I just do not see Bill as the guy speaking without some care about the content of his words. Throw away the prior circumstances and I think most would be far more comfortable with the current situation (the void).
The question that has not been asked around here lately is what if Bill's take is accurate, but modestly overly optimistic on timing? Wave is not priced for that scenario. Lots of upside if that is the case.
A lot of assumptions being posted.
The reality of the situation is what to make of the void. Waveoids have dined on empty calories for many years and now find themselves hungry. Perhaps a proper dinner will soon be served...perhaps not. Wouldn't we all like to know!
My napkin has been placed. Some are being discarded. Interesting times indeed.
One last thought: for a guy who seemed pretty intent on separating himself from the prior regime, it would be strange if Bill was full of it. People have tendencies that are at their core. Logic is in the long's favor on this one.
Alea,
the U.S. and every other country in the world.
The talk about national affiliation and worries of international implications are extremely premature imo. It is nearly impossible for a company to not have some suspicions of allowing a back door to one group or another. That said, the TCG is an open standard, allowing anyone to join. IMO you are not going to do much better than an open standard.
However, considering many are looking for any signs of sales, if we are in a position of worrying about eventual suspicions related to NSA affiliations, Militärischer Abschirmdienst affiliation (Military Counterintelligence Service of Germany) or the Ministry of State Security of China, than we are worrying at a higher level.
To me, it is the equivalent of worrying about driving a nice car when I have not eaten for a week. That's a nice little worry, but let's have lunch first.
New Wave,
my point on credibility was specific to shareholders. Shareholders are not buying the story based on the share price. If they did, they would/should be buying hand over fist.
I know the challenges of small companies selling to big companies. All of these hurdles can be overcome with creative thinking. I have done it and know it. At the same time, big companies can be a big pain. Many of them suffer from too many cooks in the kitchen and policy for the sake of policy.
Let's hope Bill and company have made changes that will produce results that will be obvious to all. Clearly words describing change and improvement are no longer enough for shareholders. Shareholders have determined they must see to believe. Bill has made it clear he believes things will get done. His credibility will grow exponentially over the next couple of months or it will decrease exponentially. I favor the former from a probability stand point, but you never know.
I disagree.
Solms offered all shareholders a glimpse of the future. Cash flow positive. No more dilution. General improvement.
The response has been a collective sigh. I am not saying Solms is not credible. I am saying people have determined he is not. If his words resonated with shareholders there should be passionate buying in advance of any announcement of actual progress.
I favor the view he is credible and perhaps will do some passionate buying of my own.
To quote Henry Ford:
"You can't build a reputation on what you are going to do."
Alea,
I do not disagree but if Jeff Bezos came in and said the same thing, I don't think the share price would be the same. People consider the messenger. I am not saying Bill is not credible, I am saying shareholders do not judge him to be based on share price alone.
On a separate note, it is interesting that Bill has very little credibility with shareholders at present.
He basically said things are turning around and seems to indicate something visible should happen soon, yet investors remain unconvinced (conviction being measured by the share price).
Shareholders have been told this story before and clearly want to see something. It seems the honeymoon is officially over.
My personal take is that Bill might be aggressive with his timelines, but that he does what he says he will do. Let's see if this theory applies to sales.
Alea,
if you are stating that you feel it is wasted energy to understand why sales have been slow, I disagree.
The reasons I listed are facts or near facts. The list is obviously not exhaustive.
One needs to understand context to understand the present nature of the opportunity. One needs to understand context to know if past problems can be overcome. There are a variety of other reasons to need to understand slow uptake.
The problems Wave has had can be overcome. If anything, the size of the opportunity has increased. The general interest in data protection has increased. OEM companies have continued to expand TCG related devices. These are all in the plus category. If these were all running in the opposite direction, most would have much more concern and a lot less interest.
Everyone including Bill understand excuses are no longer intriguing to investors. Everyone also knows sales are needed.
It's always nice to have accountants measuring things, but one needs to first surmise if there will be anything that needs to be measured.
Deering,
there have been multiple problems:
1) TPMs and SEDs are new technology
2) Unlike software security, hardware needed to be replaced
3) Prior leadership was probably more equipped to conceive than to sell
4) There needs to be motivation to take a risk on security -- tpms and seds are completely new for most enterprises
5) Wave's products needed polish
6) Wave changed sales strategies to large enterprise
7) Large enterprises have long sales cycles
8) Wave essentially changed its entire sales team
If Bill is accurate, wave should soon be harvesting seeds planted many moons ago.
CEO gives bonus back:
So much for the prevailing thought of: what does deserve have to do with it? Sort of the opposite of selling shares to pay one's bonus.
http://www.msn.com/en-us/money/companies/ceo-gives-back-bonus-says-he-doesnt-deserve-it/ar-BBgY4fF?ocid=iehp
"Well, here’s something you don’t see too often. Or maybe never…
Rick Holley is CEO of Plum Creek Timber Co. PCL, a Seattle-based real estate investment trust that owns and manages around 6.8 million acres of timberland in 19 states. Today Holley disclosed, via a regulatory filing, that he has returned 44,445 restricted stock units back to the company because “he does not believe that he should receive such an award unless Plum Creek's stockholders see an increase in their investment return.”
Alea,
it is one thing to hack a company's client data, their intellectual property, and their employee data. It is a whole different matter when embarrassing e-mails are being stolen. If this does not move things, nothing will.
I say that half joking, but there is absolutely truth to it. There is no doubt these matters (security) are being elevated. Events like this do not favor status quo. This is the time Wave really needs to quickly take advantage of the opportunity. This comes down to focus and a laser sharp message.
When it's 120 degrees and you are selling cold water and everyone else is selling hot coffee at 3x the price of your water, you had better sell or you had better take a deep, probing look at your product and strategy.
Wave holiday list:
**There shall not be long gaps of silence from the company. Either news will be forthcoming our an update on progress shall occur. This one is for Weby.
**Continued buying of shares from the top. Belief starts at the top. This one is for WAVXALMIMAN.
**A company that is resolved to make 2015 the year true progress is made and is measurable, even from a shareholder's perspective. This one is for snackman.
**DD turns into revenue and income. This one is for 4321.
**Customers clamor and holes close. For dig and alea.
** No coal for Christmas...for all!
Peace, health and prosperity to all wave investors.
Waveduke
Alea Re Standards,
a company does not want to get boxed out of standards.
I don't see standards as a business strategy, but as a hedge. As a business strategy pursuit, it is too much of a hail marry. This may have been lost on the former leadership, but I think the current crew understands.
Blue,
I never claimed to **not** be anonymous. If I were not anonymous, I personally would attach a little (very little) more meaning to my own words if I were not me. Hopefully that makes sense! By default, what I say to you also applies to me.
Blue, you claim to have no agenda, but why else post? There must be some reason for you posting. You may be as clean as a whistle, you may not be. Hell, people lie to the people they love so I hope people on the boards know dishonesty is usually not self reported. As I tell my kids, in order for the world to reconcile, you better create a lot of positive, because we know there are a lot of negatives.
On registering of the shelf. I used to be of a very strong opinion that my firm does not need cyber security insurance. Then, a client required us to be insured beyond an amount that is within common sense. We got insured. I was not a liar, nor did I misrepresent. You get my drift?
On a last note, if you have ever done business with a large client you will know things can take a long time to sort out.
Blue,
there is a different captain at the ship. The only common denominator between the two is they captained the same ship.
Wave did what it did historically because of Steven. This was not a company thing, it was a CEO thing. Using Steven as a predictor for Bill is just plain silly.
That does not mean Wave will necessarily do what Bill expects. However, the premise that you can use Steven as a predictor for Bill is failed premise.
You say, "rather than giving our trust blindly to another Wave CEO, it seems prudent to keep him on a short leash and require him to be accountable for his statements." As a non-shareholder Blue, tell me how you are keeping him on a short leash? Anonymous message board posting?
He will be held accountable. At present, we are still operating within his window. The reality is people like you can use silence to your advantage. You can use Steven's poor performance to your advantage. If Wave fails or succeeds, you will be the same unnamed ghost. Others will have their names and faces associated with success or failure.
Bluefang,
The CEO has continued to say they will not need to raise capital. Having access to capital does not mean they are going to use it. From my perspective, it would be foolish to not have this mechanism in place as an insurance policy.
I think management is aware of their need. I am sure they are expecting the outcome intimated on the call, but at the same time it makes sense to plan for the worst case scenario.
Taking out an insurance policy would not be an indicator of one expecting disaster. Until the new management proves they are as untrustworthy as the last management, the comparisons you make between the two are just plain silly.
The CEO goes by the name Bill Solms. He has made public statements about his expectations. He will be held accountable for them. You on the other hand throw out prognostications under an anonymous handle.
For now, the people on the board should be listening to the CEO until he proves he is untrustworthy. I don't know that there is ever a time to be listening to an anonymous poster on a message board.
Looks like SVP or higher to me.
Wave leadership.
What it was:
Wave’s Leadership
Bill Solms, President & CEO
Walter A. Shephard, CFO
Ed Green, CIO & Senior VP, Production & Services
Robert Thibadeau, PhD, Senior VP & Chief Scientist
Greg Kazmierczak, CTO
Andrew Avery, Senior VP, Global Business Development & VP, APAC Sales
Tom Conte, VP, North American Sales
What it is:
Wave’s Leadership
Bill Solms, President & CEO
Walter A. Shephard, CFO
Gary Patton, EVP, Chief of Staff
Ed Green, SVP, Special Projects
Robert Thibadeau, PhD, SVP & Chief Scientist
Greg Kazmierczak, CTO
Andrew Avery, SVP, Global Business Development & VP, APAC Sales
They (TCG) still do have standards and they will continue to evolve them. The TCG is not a commercial venture. It is up to member and non member companies to generate products that capitalize on the standard.
I do not believe the PR to be of that sort of standard. It is a commercial venture. If you have a new way of doing business that is so good, by default it becomes the standard. If machine health becomes inexpensive and valuable, it will become a standard machine product.
Player,
I believe one is a standards body (TCG). I believe the language in this PR implies they want to create a new industry standard for security. The PR point being it will become so good it will be the new standard.
I think Bill & co. get the fact that investors are clamoring for sales related news. At the same time, you do not want to spurn development because of what may be inferred as a result of perceptions formed on the basis of the former leadership.
Thanks Root. TKC, I don't think they had a great plan with the purchase. We all know how good thoughts without execution end up.
Aelea,
I respect your opinion, I just disagree with it. Considering most of its resources are U.S. based, I would hope they would be doing better (a very relative term) in the U.S.
Alea,
we will have to disagree on that one. I don't think Wave's prospects would improve by moving to Switzerland. Moving to Switzerland might just seem like a coup to appear neutral. Beyond that, it is just plain crazy talk in my opinion.
Your last paragraph does not bring more credibility to your prior sentences. At present, Waves country of origin has nothing to do with their success or failure and has not been an obstruction, but a boon in my opinion. Before Wave focuses on world domination, they need to sell something to someone.
If I were the Wave CEO and someone told me our problem is that we are US based I would send them over to Patton for a military beat down. I am obviously joking about the Patton part. I would send them to Frix. He he ha ha.
Alea, I know you are getting tired, you never quit! My point was, you are never going to separate Wave from its country of origin. If there are suspicions of government cooperation, I don't think a smoke screen of multinational hires is going to bring comfort to anyone.
Your point would argue that Wave should be specifically focused on the US market since they are US based.
Alea, you proved my point for me.
Every quote below references, "U.S." or "American". The fact is, it is an American company. Whether they hire Gandhi (If he was still alive) or Mother Teresa (if she were still alive), they still are an American company.
Please put together a list of countries that are not spying and I will put together a list of dog breeds that speak English.
Alea,
sorry, but I find it preposterous that Wave's products may lose international appeal because they have three people who were formerly employed by the US military. They will lose international appeal if the product is not appealing. Most companies are not checking the company roster before buying products or services.
Can you share instances or experience where companies are checking rosters prior to purchasing products or services? This is not a practice I have heard of or witnessed in doing buying and selling in the corporate world.
While the Snowden thing surprised some people, I do not think privately anyone senior in any country was surprised by the level of attempted spying by other countries. Those that were are still using corded telephones and are not likely a user of Wave's products any way.
Below is a Microsoft link. The problem is, you need to trust someone or you might as well go off the grid and live on an deserted island. Even then, you will be on satellite. ;)
Microsoft Page (http://www.microsoft.com/about/corporatecitizenship/en-us/community-tools/job-skills/veterans/)
Get Job Skills : Elevate America Veterans
Home
Elevate America
Elevate America Veterans
Elevate America Community Initiative
Training Resources
Success Stories
Microsoft is committed to giving people access to the skills they need for jobs in the growing knowledge economy. To support this commitment, we created Elevate America. Elevate America incorporates a number of programs and resources that share a common focus;providing technology skills training, and resources to help people find employment.
Microsoft is proud to help veterans and their spouses successfully transition from the military to civilian employment. Through Microsoft’s investments of more than $12 million in cash, software and related support, veterans and their eligible spouses can take advantage of resources including: technology skills training and certification, job placement, career counseling and other support services such as childcare, transportation and housing to help in their successful transition to civilian life.
•Learn about a no-cost voucher for technology skills training and certification
•Find resources to help you transition to civilian life through our nonprofit partnerships
•Explore additional no-cost and low-cost resources from Microsoft to support your training and job readiness needs
•See how your military occupational code translates to jobs available at Microsoft today
Our thanks to The American Legion, Iraq and Afghanistan Veterans of America (IAVA), Paralyzed Veterans of America, United Service Organizations (USO), and the Wounded Warrior Project who have served as members of the Elevate America veterans initiative advisory committee.
Player,
it does imply some level of complexity in the business otherwise there should be no need. The bottom line is if Bill believes the guy creates more value than his expense, he should have hired him.
Alea,
if I took on the CEO role at Wave, I would probably bring in some people from banking. This is where a large part of my trusted, professional network exists. Does that mean I would run it like a Bank? Heck no!
Perhaps Solms is completely off the rails, but I presume based on all that I have heard, that he is taking a well thought approach to Wave's future. If Cypher's comments have any credibility, of course there is going to be complaining.
It sounds like the uninspired Wave employees had it pretty easy with no clear accountability. In my experience, hard working people who truly like adding value, want accountability. Those who like it easy will fight accountability to the bitter end. From my understanding, there has been a huge culture change. This can be difficult for anyone. The one thing we do know is that the old way was not working. I think Solms is smart enough to know that this does not necessarily mean you need to do a 180.
I am not judging things one way or another, just stating personal experience.
I have not often seen the titling used in civilian practices either, but I admit to not having seen everything. Per the below, I guess Wave does not have to say goodbye to the Chinese market or English market or...
https://www.hsbc.com.cn/1/2/careers/careers/more-than-banking/chief_of_staff
http://www.misys.com/about-us/leadership-team/
https://www.linkedin.com/job/chief-of-staff-jobs/
Welcome to Careers with HSBC China
Chief of Staff
HBCN Chief of Staff is an administration function within HTS to establish a more commercial and transparent understanding of costs and an improved consulting and business oriented culture within HTS; as well as to ensure that HTS adds value to the Bank, is well governed in a risk controlled manner, and delivers high quality services in an efficient manner.
Tom Kilroy, Chief of Staff
Tom Kilroy
As Chief of Staff, Tom leads the development of the company’s growth strategy and its continuing programme of transformation to become the leading provider of financial services software.
Tom joined Misys in August 2009 as EVP General Counsel and Company Secretary. He has been with the company since that time, with the exception of six months in 2013. He has held various roles at Misys, including as Acting CEO during the period when Misys and Turaz, the Kondor+ business from Thomson Reuters, merged.