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    Rush buycott

    Rush buycott

    Via Michelle Malkin, Twitchy.com joins Rush Limbaugh advertisers:

    I’m putting my money where my conservative, free-market principles are.

    The full announcement about our new Twitchy.com ad buy with Rush Limbaugh is here.

    A snippet: “As a small business owner, defender of capitalism, and advocate of free speech, I am putting my money where my conservative, free-market principles are. TWITCHY.COM is proud to join companies across the country that advertise with talk show giant Rush Limbaugh and his Excellence In Broadcasting network. Today, we will begin running ads on the RushLimbaugh.com website.”

    Via Instapundit:

    Elsewhere:

    DONATE

    Donations tax deductible
    to the full extent allowed by law.

    Comments



     
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    Eliot Ness | March 15, 2012 at 10:26 am

    Here’s a synopsis of Carbonite v. Limbaugh
    ==========

    NASDAQ:CARB – A DINOSAUR DOT-COM DISASTER

    Carbonite’s first-and-only Annual Report (2011) reveals a seven-year-old dot-com disaster on the fast-track to insolvency.

    Just as the Sandra (you-should-pay-for-my-birth-control) Fluke controversy was breaking out, Carbonite reported that it is $100 million in the hole, burning $2 million per month, and that there is no end in sight to its huge losses!

    ———-

    “We experienced net losses of $19.2 million for 2009, $25.8 million for 2010, and $23.5 million for 2011, respectively, and have an accumulated deficit of $100.4 million as of December 31, 2011.”

    “We have not generally achieved positive cash flow from our operations or reported net income, and we do not expect to be profitable for the foreseeable future.”

    http://www.sec.gov/Archives/edgar/data/1340127/000119312512101462/d277280d10k.htm

    ———-

    Carbonite had only six months to live when it staged a desperation ‘Hail Mary’ IPO during the Aug 2011 market downturn.

    NASDAQ:CARB initially proposed $122 million but sold only $62 million, netting $55 million. Furthermore, the WSJ reports that there were serious disclosure delay issues with existing venture capital insiders:

    ———-

    “To get the deal done, online storage company Carbonite not only cut the offer price significantly, but it also sold nearly half of the new shares to existing investors. But these investors didn’t fully disclose their larger ownership stakes for weeks, meaning the level of genuine, external interest in Carbonite’s shares wasn’t nearly as high as some may have thought.”

    http://online.wsj.com/article/SB10001424052970204485304576643433842326332.html

    ———-

    When its piggy bank is empty, Carbonite must either go bankrupt or be liquidated by acquisition in a fire-sale auction of its tangible assets.

    By withdrawing its ads from his talk-radio show, Carbonite has spared Rush Limbaugh the embarrassment of being associated with the collapse of a yet-another delusional “spectacular dot-com flameout.”

    ==========


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