Friday, June 22, 2007

Meanwhile, Back at the Titanic

The two founders are out to lunch right now at separate locations. When they get back, we're supposed to have a meeting.

My coworker and I have been speculating on what's happening. A month or so ago, he said he'd ride this ship until it sank. Now he's getting the itch to buy a house, and he wants to know whether that's going to be a wise move given the circumstances.

We know that our CEO was supposed to meet earlier this week with the friend of the company's angel investor, but that meeting got cancelled because the friend got tied up with some other business dealings. We also know that the CTO had lunch with the founder/executive VP who quit at the end of last year.

We think that the friend of the angel investor is intent on buying the company and making it the IT services provider for other companies that he's acquiring. The intrigue is that the friend of the angel investor is based on the West Coast. So are all his acquisitions. If the sale completes, where does that leave the company? Here? There?

We've been watching the CTO's behavior, since he has a desk in the same area, and he appears to be doing anything but stuff related to our core product. Yesterday, he cleaned out his briefcase, reorganized papers in the conference room, and shredded some things. Moreover, during lunch earlier this week, he told us that the CEO would rather see us go the VC route rather than buyout.

Today, we heard the CEO tell the CTO that someone they know who has been working with VCs said that the local VC has "gone dark", but the other VC out east wants to know if our software would be of use in some areas. This seems to suggest that the buyout is far from a done deal. Another question is whether the CEO and the CTO are even on the same page as to the company's disposition.

Maybe we'll find some answers from this meeting... Maybe.
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