[Update2] Geeknet (LNUX) Management Speaks with Non-insider Shareholders
Note: This was originally posted July 25th, 2010, ten days before Geeknet's Q2 numbers release.
>> Non-insider shareholders: "Is a Solomon-Sileck-Langone-Bowman led/engineered takeover of Geeknet (LNUX) imminent?
Geeknet Management (chorus): "Better to be a geek than an idiot." (1.)
Non-insider shareholders: "When are you hiring your first geek?
Geeknet Management (chorus): "We're in touch with our inner geek"
Non-insider shareholders: "That's very nice but Geeknet's revenue breakdown for q1 ending March 31 2010 was 70.74% eCommerce. Media revenues accounted for 29.26% of total revenue. eCommerce revenues increased by 59 percent in the first quarter of 2010 as compared with the same period last year. Accordingly, 1) why hasn't Geeknet (LNUX) brought on a senior level executive from Best Buy or Amazon.com as Chief eCommerce Earnings Officer of Geeknet or COO of ThinkGeek 2) Why haven't you changed the stock symbol to NASDAQ:G33K and 3) Why haven't you accordingly positioned NASDAQ:G33K for an IPO/Secondary offering to 1) ensure Geeknet's competitive advantages/market share dominance in this Web 2.0/social media paradigm-shift and 2) to firmly establish a Geeknet endogenous and exogenous closed-loop viral passion across the internet that you are serious (and capable)?
Geeknet Management: "We, the corporate overlords, made a really cool video to convince you we are geeks."
Non-insider shareholders: "You're sure you're just not idiots? Why have you lost three senior officers or directors in the last 60 days?
Geeknet Management: "Have you seen all the press on Scott..what do you think about changing the name from Geeknet to ScottNet?"
Non-insider shareholders: "At least you fully disclosed your intent. The valuation of Geeknet (LNUX) is very low, and you've got a major eCommerce business that's doing obviously very well, an eCommerce business is probably worth more than the whole market capitalization not even counting the rest of the Company and go back to Wall Street and reestablish a presence on Wall Street?" (2)
Geeknet Management: "Can you believe the Pork Industry apparently can't take a joke? The new white meat' from sparkly unitcorns is not meant to replace pork-based diets'!
Non-insider shareholders: "That is tangentially interesting, however, the shareholders are interested in Geeknet ensuring ROE exceeds sustainable growth (G*)...maximizing non-insider and insider shareholder value, and our question to you is Where's the beef?
Geeknet Management: "We are in touch with our inner geek and are working on another Scottnet music video because we are geek cool"
Non-insider shareholders: "Is a Solomon-Sileck-Langone-Bowman led/engineered takeover of Geeknet (LNUX) imminent?
Geeknet Management: "We just unlocked the "Newbie" badge on @foursquare!http://4sq.com/aOoXeF "
Porky Pig (the other white meat): "EBITDA EBITDA EBITDA, THAT'S ALL FOLKS!"
(1.) geek.net home page (view source).
"Life would be so much easier if we only had the source code"
"Unix is user-friendly. It's just very selective about who its friends are."
"I'm not anti-social; I'm just not user friendly"
"I would love to change the world, but they won't give me the source code"
"To go forward, you must backup."
"Better to be a geek than an idiot."
"Be nice to geeks when you're in school, you might end-up working for one when you grow-up."
"It's a little-known fact that the Y1K problem caused the Dark Ages."
"Programmers are tools for converting caffeine into code."
"There are 10 types of people in the world: those who understand binary, and those who don’t."
"If at first you don’t succeed; call it version 1.0"
"Alcohol & calculus don’t mix. Never drink & derive."
(2.) Source: (February 11, 2010) Douglas Whitman, Whitman Capital, [13:56] into the Questions and Answers portion of the February 11th Conference Call.