Is Moxi In Trouble?
from the another-one-bites-the-dust dept
A few weeks ago, when Steve Perlman was pushed out as CEO of Moxi Digital, they spun it in a way that said this was completely according to plan. The press seemed to buy it, because I don't remember seeing any articles that were really surprised by the move. However, Business Week is now running a story that looks deeper at all the problems Moxi is facing. Some say that the company is running out of money and could be bankrupt in a few months. There are a bunch of other questionable points as well. Moxi currently is leasing a building in Palo Alto which is completely empty, but which they're paying 3 times the market rate for - and Perlman partially owns the building. They're also having trouble finding customers. Despite lots of hype about their relationship with EchoStar, folks at EchoStar say they don't actually have a contract to be a customer - just to run some trials here and there. Many people seem to think that Moxi will go out of business soon or be acquired for not very much money.
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