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Inteliquent, Inc. Message Board

  • marty.chilberg marty.chilberg Feb 22, 2011 10:31 AM Flag

    Not a lot has changed

    While it's not a good sign to lose a CEO at such a critical time, let's not read too much into it until the CC when the story will be told.

    Wren is 54 and anyone who has done a major acquisition knows how hard the first year integratin effort is. Lot's of travel and evaluating the new employees including building a relationship with the acquired management team. If Wren was thinking about retirement this move is not that hard to accept given the strain on him during this year and the impact of either telling the new team that he was leaving after the integration or keeping it a secret and later alienating them by leaving.

    Also the company likely recast the last 9mths financials to be as conservative as possible leaving no issues for the future. Means that the YTD may not be the best indicator for the future. Also note that the sentiment of being accretive to earnings is not backward looking...forward only.

    Company announcing the buyback was a solid move and consistent with a management team/board that knows how to support the stock so all in all we shouldn't overreact to this announcement.

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    • Well said. We don't really know what's going on yet. I put in a call to Investor Relations late yesterday and haven't heard back. I doubt I'd learn much but would like to hear what the PR person is saying.

      And you're spot on with the 'immediately accretive' earnings referring to future earnings.

      One thing to remember with TNDM (if YHOO's page is accurate) is that its owners are 85% institutional and over 3% insider owned. That leaves a measly 11% owned by little retail guys like us, right? It seems that we are at the total mercy of institutional mood with this company.


      Now for another speculative scenario: TNDM has an offer for buyout; Wren didn't like the price; the board wanted a better price than the offer, but came to see Wren as a deal-killer, and they want to deal; stock buyback implemented to boost share price to improve deal; Wren put aside.

      (I know, I know...)

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