I'm sure you have seen this, but wanted to post this in The Jailhouse because the Snackster has expunged any mention of this ex-employee or his posts from the WAVX thread. This is a good post, however the entire discussion thread is worth a read if one is the least interested in the shell game called WAVX:
Re: evil by: sane_butevil_fuzzball Long-Term Sentiment: Strong Sell 11/18/04 07:13 am Msg: 62629 of 62696
I won't go much in details since some people might find a way to sue the crap out of me. (If anyone from wave systems / wavexpress reads this, sorry guys, but I got blinded by the fury). If some things are yet not clear enough, that would be my flustered thoughts. This is like half a rant, half what's really going on.
To properly explain what I previously raised; The executives don't seem much to care about the company. For example, if you're a startup company (wavexpress), would you give your CEO ~450k / year? If I recall correctly, Peter was asked that if the company had issues, would he reduce his salary? Guess what's the answer? "NO" (That's a no-brainer). Well, I'm sorry bud, but that is a clear sign that you don't give a flying cow if the company goes well or not.
The Spragues swim in cash, why would they care? My guess is that most of them were born with a silver spoon in their mouth and never really learned the value of a dollar. (Note, when Peter was CEO at national semi-conductors, he was just the PR guy, not the real brain, do not get confused! The guy doesn't even know how infected of spamware his laptop is, do you seriously think he knows about electronics?!)
Again, I'm becoming redudant on this (*sigh*). There is no business plan / marketting plan. Would someone explain me how you run a company without them? I've never seen such before. How do they know if they're going to meet their goals? (If there is no need for something, you create that need, basics of marketting / economy. They are not doing that from what you guys and gals can see.)
Even though, the engineers (and engineering managers) are of the highest quality you can find in this spacial quadrant (That is for both wave systems and wavexpress). I've never met finer engineers than them. It's a great bunch of guys and gals to work with. They do what they're told to do. The major problem with that is that you have clueless executives about to get stupid ideas about services / products (recall the gaming initiative? ohh, that was just sad (for those who don't know, they were packaging 5-6 years old games for rental purposes (pay by the bullet, or die ;) ))). It's a head rush thing. "Ohhh we have to do THIS! NOW!" The sales guys try their best to cope with that (hopefully, they'll go against the executives and give them clue).
70% of the work force of wavexpress got cut off on the 31st of october. Almost everyone from the NYC office got layed off. That includes me. Why? simple, when you run ~300k in the hole per month, you ain't gonna have much cash left from what the investors/mother company provided you to begin with. I didn't hear much about wave systems layoffs though, they have a silence policy about that. There was so much money / man hours wasted just by listenning to them twats.
Personally, I feel that the executives redefined the terms oblivion and corporate double talk. Want a good example? Listen to the latest conference call with the investors (should be public on the web site iirc.). Peter gets so bashed, I'm amazed we survived. Note, never, ever let Steven speak to clients, that would be doom.
Wave systems got so many employees, I wonder what they all do. A lot of them seem to do nothing. They're scattered all over the US and the globe. They have so much sales guys, and no-one is making progress. HAHA! That should cover the bad sales part.
Ohh, and could someone dig up about the event for Peter taking a loan with wave systems and not paying them back? (The ~1.5 million loan, which is "stealing").
I've seen a lot of startup companies that went successful in less than a year (meaning, the broke even and made profit! (That would also be in simillar or same type of business). If it hasn't happenned in less than 3 years, something is wrong, would ya'll concur on that?
All right, enough said, I should be expecting calls from their evil lawyers.
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