Recent

% | $
Quotes you view appear here for quick access.

Glowpoint, Inc. Message Board

  • spitzerman2 spitzerman2 Nov 7, 2012 4:40 PM Flag

    GLOWPOINT LOSES LUMINANT CORP

    Luminant Corp....the largest producer of power in the State of Texas and headquartered in Dallas signed a contract with GP in 2008. At the time it was historically the largest contract signed by GP in the State of Texas and perhaps it's largest in the U.S. accounting for in excess of $40,000 per month in recurring revenue for 4 yrs. I met today with a Sr VP at Luminant to discuss the network. He informed me that Luminant is "killing" the Glowpoint service contract and that the decision has been made to not renew. This decision was made in light of Luminant's recent significant investment in Cisco Telepresence and the signing of a new 4 year contract with AT&T who partnered with Cisco to provide the network and managed Telepresence service because of what was referred to as "AT&T's superior capability to manage the network for it's global point to multi-point Telepresence sessions". It was not implicitly expressed but it was inferred that the GP experience has not been optimal over the last 4 years when the comment was made....."if it isn't broken why fix it"? "So we fixed it".

    Since GP refrains from mentioning the names of major clients when purporting major wins.... I thought I would assist, in the pursuit of transparency, and announce for them the name of the major client of a major loss. So much for all the high-profile and highly compensated sales executive honchos at GP, one of whom offices in Houston at the doorstep of Luminant's HQ. You would think that with his Cisco background he could have kept this major deal from turning into a major loss. I'm sure he tried.

    Sentiment: Strong Sell

 
GLOW
0.3276+0.0076(+2.38%)11:22 AMEDT