Shut Down E-Stamp
from the pressure-from-the-press dept
A letter to the Chairman of the Board of E-Stamp from a columnist in the SJ Merc advising him to shut the company down. The company is currently valued at less than the cash they have on hand. The columnist's argument is that the company is going nowhere, and all they're going to do is spend all that cash and end up dead. If there were to shut down now, and give out the money, they would not totally screw over their investors. Of course, this is wishful thinking. However, if there is real evidence that the company doesn't have very good prospects, it is actually their responsibility to give their shareholders the best possible return - and that might be by shutting the company down. Update: Red Herring has a column looking at a few other companies with higher cash on hand than market value.
Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.
While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.
–The Techdirt Team
