In his "spare" time, Louis Hernandaze Junior runs his equity fund with a focus on the media industry. Avid's former CFO who resigned recently (John Frederick) who has also been LHJ's right hand guy for years is on the advisory board. It's no wonder that Avid is being run into the ground by these maniacs and their C Level puppets. Spend a ton, borrow a boatload, sell it all off including the debt, make lots of money and move on. Modus operandi - this is what the studied and what they do. Watch LHJ take all the borrowed money and run (again): http://www.americanbanker.com/issues/177_189/lawsuit-charges-open-solutions-with-withholding-financial-data-1053137-1.html
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Anyone have any ideas on what LHJ will be announcing with Dell at CES? I could see Dell buying Avid eventually and moving Avid storage to Dell/EMC hardware.
What a disaster! Put this train wreck out of its misery NOW versus this lingering death. Horrible senior mis-management team, inept and immature middle management especially in marketing and despicable greed mongering C level execs. The Board? Clueless, useless, rich.
Louis HJ kept on talking about the MediaCentral platform and how it is the way to going to generate lots of revenue. We (all engineers) were saying what is he talking about. When he arrived he got rid of all executives who had been there for years and brought in his people who most probably were not experienced in the domain. Soon after John Frederick quietly left the company. As someone who had worked at Avid, I was never impressed by Luis. I believe he severely damaged the company.
how funny - i hope they get everything they deserve
How accurate was this post! Johnson and Weaver just launched a federal investigation to prove whether or not executives have been knowingly misleading shareholders And the investor community (let's face it - of course they have). It's no wonder Avid's CFO and his henchmen headed for the hills this past year.
interesting reading and agree with you regarding their plans