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gnulaw (51.28)

Questions any Geeknet (GKNT) non-insider and former employee/officer/Director shareholder should be asking.

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September 09, 2010 – Comments (2) | RELATED TICKERS: GKNT , BBY , AMZN

 

1. Did Kenneth Langone throw the baby out with the bath water since his arrival?

2. Why hasn't he strategically spun-off the open-source assets to Amazon, Best Buy, IBM, Oracle, Red Hat, Yahoo! in a bidding war

3. Why does Kenneth Langone want to create the impression everything is falling apart by not updating geek.net, effectively the entrance to all Geek.net assets and all shareholder value? This is a substantive smoking gun. [See Sarbanes Oxley, Full Disclosure, EMH, SEC Rule 10b-5,...]

4. With all due respect does Kenneth Langone really understand web 2.0+ technologies? Open-Source? high-tech? or is this a last gasp attempt to prove something he can't possibly prove?...at the expense of [everyone] else? [See 6.]

5. Why is Kenneth Langone loading the Geeknet (GKNT) Board of Directors with nothing more than bodies and arguably to some whom are effectively unemployed/retired, and arguably completely out of touch with Geeknet's reality?

A: To control 67% of the Board? 

5a. And for what reason? 

A: To summarily approve whatever plan he has? 

6. Why did Kenneth Langone's say the following as his parting comments on the Q2 ending June 30, 2010 conference call held on August 4th at [15:30/18:09] ? "...Matt Sweeney is very excited about the opportunities on the sales and marketing side...". After Langone's firings Geeknet (GKNT) shareholders are now left with Matt Sweeney as Chief Revenue Officer whose sole background is in media and marketing services with ComputerWorld, InfoWorld (IDG) and Ziff-Davis who "...managed $30M+ in print/online sales for PC Magazine, the largest computer publication in the world with $60M in revenues....".  This is less than Geeknet's current revenues.  A second substantive smoking gun.

 

All possible reasons for a non-insider shareholder value AMBER Alert .

 

to be continued...  

2 Comments – Post Your Own

#1) On September 11, 2010 at 4:21 PM, gnulaw (51.28) wrote:

7. Who is Kenneth Langone?

 

A?: Who is Kenneth Langone?


A: Kenneth G. Langone is the "founder, and since 1974, has been Chairman of the Board, Chief Executive Officer and President, of Invemed Associates, LLC, a New York Stock Exchange firm engaged in investment banking and brokerage. He is a founder of Home Depot, Inc. and has been a director since 1978. He is also a director of ChoicePoint, Inc., and Unifi, Inc." SInce Octover 1997 he has been a Director of Yum! Brands, Inc. In October 2004 interview with Fortune magazine Langone defended the massive payout he authorised as New York Stock Exchange compensation committee chair to the former NYSE head Dick Grasso. Commenting on some of the members of the NYSE Board of Directors Langone said "They got the wrong fucking guy. I'm nuts, I'm rich, and boy, do I love a fight. I'm going to make them shit in their pants. When I get through with these fucking captains of industry, they’re going to wish they were in a Cuisinart — at high speed. If Grasso gives back a fucking nickel, I’ll never talk to him again." [1] [2]

Source: SourceWatch.org 

 

 

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#2) On September 12, 2010 at 11:17 PM, gnulaw (51.28) wrote:

[CORRECTION]

7. Who is Kenneth Langone?

A?:"...Kenneth G. Langone is the "founder, and since 1974, has been Chairman of the Board, Chief Executive Officer and President, of Invemed Associates, LLC, a New York Stock Exchange firm engaged in investment banking and brokerage. He is a founder of Home Depot, Inc. and has been a director since 1978. He is also a director of ChoicePoint, Inc., and Unifi, Inc." SInce Octover [sic] 1997 he has been a Director of Yum! Brands, Inc. In October 2004 interview with Fortune magazine Langone defended the massive payout he authorised as New York Stock Exchange compensation committee chair to the former NYSE head Dick Grasso. Commenting on some of the members of the NYSE Board of Directors Langone said "They got the wrong fucking guy. I'm nuts, I'm rich, and boy, do I love a fight. I'm going to make them shit in their pants. When I get through with these fucking captains of industry, they’re going to wish they were in a Cuisinart — at high speed. If Grasso gives back a fucking nickel, I’ll never talk to him again.,," [1] [2]

Source: SourceWatch.org

 

Note: Kenneth Langone may just be exactly what Geeknet (GKNT) needed. 

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