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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