Paul doesn't suck. He's actually a really nice person. But he does need to GO!! He did his job, now its time to bring in a CEO that knows how to take Rent to its potential. I'm also concerned with all the high priced managment that PR has brought into the company. The results for all this pricey talent is zip, zero, nada, not there!!!
Yeah, Paul is a nice guy if he brought you from Michigan and paid you big bucks, but being a part of the group which helped set himself up with a gravy high paying job and basically screwed everyone else, you wouldn't believe that. He is out for Paul and ONLY Paul
1980 - An entrepeneur named Ron Berger started this business with $1,000. investment. He called it National Video.
1985 - The business was now THE largest video chain in the world (this is before Blockbuster even existed) with 750 stores.
1986 - Company goes public, sells a million shares at $5.
1988 - Berger invents a video distribution and payment processing concept called 'Pay Per Transaction' (PPT). The company sells off the retail National Video business, changes its name to Rentrak, and focuses on nothing but this PPT concept.
1991 - Company does another offering, sells 3 million shares at $7.
1994 - Stock hits $11 share, as company inks deal with Disney.
1998 - Company is now the industry leading PPT distributor. Stock again hits $11 as RENT signs Blockbuster.
2000 - Rosenbaum arrives on the scene. Decides he can run the business better, and wins shareholder approval to dump Berger. Stock drops to $4.
2005 - Five years into Rosenbaum's superior management, stock at $8 + change; major income producing assets existing in 2000 have been liquidated; lots of new initiatives and hires.
Where will the story end? Don't know, but it sure will make a great book someday. Maybe even a textbook case.