The Wiretap Intercept No. 060506
opinions and skeptical speculations too small to fit into an Industry Gadfly column

I laughed when I saw that Virage headline posted on the EEdesign.com web
site 3 days ago: "Virage Logic swings to profit; CFO resigns".  I even
clicked on the story.  (Usually I don't bother with financial articles.)
Sure enough, some guy named Jens Meyerhoff, the CFO of Virage, had bailed
on Virage the same day it posted a profitable Q2, after the company had lost
money in the prior 2 quarters.  My Saturday Night Live imagination awoke.

   CFO: "Oh, maaaaaaan, I gotta get out of this IP business!  It's so lame.
         We never, ever seem to make any money...  I'm dying to pursue an
         unidentified, outside of California, late stage pre-IPO company
         that's serving the alternative energy market..."

   CEO: "Well, tough.  You can't leave until Virage is profitable.  You
         knew this when you became our chief financial officer, Jens."

The disenheartened CFO walks away mumbling to himself.  The next morning:

   CFO: "Adam, look!  Good news!  I poured over the books last night and
         discovered that we actually made money this quarter!  It's such
         good news I even wrote the press releases for you to put out on
         the business wire ASAP.  Congradulations."

   CEO: "Huh?!  What the...?!"

   CFO: "Hasta la vista, baby!  I am so outta here!  Goodbyyyyye IP!"

Moments laters you see the CFO outside with jacket and suitcase get into a
waiting taxi cab.  "Yo! -- there's a $20 tip in it for you, if we get to the
airport within the next half hour."  The taxi speeds off.  [ End scene ]

I'm sure the Virage books aren't cooked & their CFO isn't leaving under any
dark cloud, but you'd think *someone* in the Virage marketing dept would've
suggested: "You know...  Maybe we should time these two press releases apart
from each other.  They don't feel exactly right together."    D'oh!  :)
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