Everyone's been focusing on why these three executives left their positions. The Seattle area "Eastside Journal" newpaper(INSP's backyard) posted a FRONT PAGE article tonight spilling out this same BS about 16 hr days and needing to be closer to family. What a bunch of BS - total deception.
The real question that will be answered shortly is why did these execs just decide to vacate and announce this just 4 days before earnings and the much anticipated Fed rate drop announcement?!?!?!? I think time will reveal something much more troubling than 16 hr days and wanting to be closer to family. Don't rule out a CLASS ACTION - lot of pissed off burned investors who don't care how much the frigin attorneys get. And please JAIN, don't try to cover up or undo in next few days. I hope you and your execs fry in hell over this!
Reference: 1/23/01, "Eastide Journal" newpaper, Front Page, "Dot-com founder retakes CEO job", by Chris Winters/Journal Business Reporter, email@example.com, (425)453-4232.
Just as a side note: the same newspaper business section lists INSP as # 3 in it's 10 "Biggest losers" list for the day.
I think it is clear why the management left, and I don't know why this explaination has been left out. The former executives made a couple hundred thousand dollars salary last year and have no hope of getting any cash for their options ($40 strike)... why stay when you can move on and make some real money.
My guess is that the board refused to reprice their options leading to the inevidable.