A number of people have wondered why we have been silent on EMC’s intent to purchase Archer Technologies. Well, we’ve been waiting to see what kind of vector this story developed over the coming days. Having followed Jon Darbyshire and Archer since the beginning, we wanted to take the time to look past the press releases and dig a little deeper into how this acquisition might play out for all parties involved, and specifically, what Bain Capital Venture‘s involvement may spell for the future.
Audits and Auditors, Defections
Overstock.com CEO Backhands Grant Thornton
In a blow-by-blow rebuttal to Grant Thornton’s letter to the SEC last week, Overstock.com‘s Chairman & CEO, Patrick Byrne, laid it all out in a very public way via a press release. A bit on the ugly side, but a fascinating look inside the interaction between a board and their auditor. It has devolved into an outright pissing match (Henry Blodget‘s term) between the two companies, with both sides accusing the other of lying.
What is particularly alarming about this whole affair (other than the openness of the mudslinging), is the size of the drop in OSTK’s value on Friday the 30th. Gapping up on Monday the 23rd and hitting a high that day of $16.37, it has since given up over $2.00 in two sharp drops. The first was in the early hours of trading on Tuesday (from $16.18 to $15.50), after Mr. Byrne’s press release hit the wires. Just before the markets closed for the Thanksgiving holiday, OSTK was at $15.30. However, on Friday, the 27th, it opened down at $14.42 and has continued to hover below $14.50 today. Black Friday will forever mean something else within the walls of Overstock.com I suspect. All of this, despite their marketing engine churning out multiple releases regarding holiday promotions.
Perhaps airing your audit issues so openly, and through press releases, should be reconsidered as a strategy.
Interview with Niall Browne
Untitled from Rook Consulting on Vimeo.
JJ Thompson and I were fortuntate enough to interview Niall Browne, CISO at LiveOps and Chair of the Development Committee for BITS while we were at the Cornerstones of Trust conference in the Bay Area.
Analysis and Commentary, Broadcast
Harmonizing Controls to Reduce Your Cost of Compliance
This webinar, moderated by Brightfly Managing Director of Research, Brandon Dunlap, examines the Unified Compliance Framework and how it can be leveraged to harmonize controls across multiple regulations such as PCI, SOX, HIPAA, NERC and more. The presentations and conversations discuss how to eliminate overlapping control requirements and ensure a more efficient and less costly approach to compliance.
© 2010 Brightfly, Inc.
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