From Wireless Superstar To... Selling Mortgages?
from the interesting-transition... dept
During the boom years, Aether Systems was supposedly going to change the wireless world. A lot of people never understood what they were trying to do, but it was going to be "big." That sentiment helped drive up the stock and make it worth a few billion dollars at one point. So, where are they now? Investing in mortgages. Seriously. The company has sold off all its wireless pieces. The explanation for why: "We were spending more than we were bringing in." Ah, the old burn rate excuse. Of course, this didn't stop them way back when. Over the years they've been public the company has squandered $2.4 billion. Doesn't exactly explain why you go from wireless communications to selling mortgages.
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Aether...Not surprised...
Companies like Aether go public to legitamatilly steel money from the public.
I wonder how many bonus's were paid to the executives over the years for a waste of time. The shareholders should demand for bonus money paid to the executives back to the company.
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Can you say nanotech ?
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