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July 31, 2006
Alien Watch, Day Two
Another day, another blank where the RFID ticker was supposed to be on the Nasdaq. In case you missed it, Alien Technology, which was supposed to go public last Friday, has delayed its IPO until market conditions improve (always a rather open-ended condition). My esteemed colleague Tim Mullaney may yet win the price of one Alien Technology share (currently $10-$12), which he offered to bet on the deal not getting done. I don't know whether anyone took him up on the wager (I sure didn't). Note, however, that with the odds now in his favor, Tim is trying to up the stakes to lunch! Save that jive talk for the three-card-monty dealers, Tim. You're playing for $10-$12, which in midtown Manhattan will buy you a slice of bread. (Disclaimer: Tim and I are just having some fun.)
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Just a tidbit from someone that works at AT: there was an 'all-hands meeting' on the 1st of Aug.
The CFO and CEO stated that because they didn't go to market with the IPO, there will be some layoffs starting next week...and no one is safe.
They said that we only have enough cash reserves to last one quarter more before bankruptcy anyway, so unless AT is bought out or goes public soon all 250 employees will be on the street, so Tim actually is right as much as I wish he wasn't. The job market is very tight and I don't want to be forced back into it.
Posted by: Insider at August 3, 2006 01:06 PM