Bluefang is correct for sure about one very important fact. Wave was rotten at it's core. This company had a terrible company culture without accountability which is truly the kiss of death. In a company with 400 employees, how long would it take any of us to get to learn who is good and who must go? Then, advertise, interview and hopefully pick out some good replacements. I figure this part of the process must have taken at least six months. Then how long does it take a new salesman to get comfortable with the product, meet the prospective clients and start the sales process. During this time a product that could be sold, from at least Mr. Solms perspective, from being out in the sales force for a while, was developed. That means that he really has been building the pipeline, with a product, with people that supposedly have performance requirements baked into their job description and with a new board for six months or so.
My hopes are that I am betting on a new company that has a good product aimed at a problem getting headlines every week. My odds of success are not as good as if I buy GE or some other blue chip but for a possible great return from this point I think it is a reasonable bet. There is a stampede to securities solutions. Will we get a chunk of the business? I like Solms style, our product and the timing. If our horrible history was not with us, many more here would be optimistic. This is basically a new company and should be treated as such.
AI
