It's been 26 years... maybe it's time to let go of those sour grapes, eh? Honestly, it just sounds like you're trying to justify reasons why you thought you could have done better, nevermind the fact that Protel was never your baby to begin with. It was Nick's.
That seems odd. If you know any of the "yes-men" you mentioned, you'd know the kind of innovative, intelligent and independent men that they are. Hardly cronies who just nod along to everything Nick says.
I already knew about this ;) But thanks for the link.
Maybe they should have read up about the legality of firing someone (without the entire board present..), or about publishing outright lies. You think such smart men would have actually looked at their actions before going ahead, yet here we are.
I’ve been connected with Altium/Protel for many years, since
Over that time Altium have made some nice products and yet
nearly gone broke on a couple of occasions, and for many of the
other years barely broke even.
At times the company had some very good people on board. Yet
due to the CEO having close to ‘no people skills’ either had them
fired or they just left. The company ran on fear, fear of losing
your job should you speak out with views not aligned to the CEO.
The CEO might of had some technical skills but he had no skills as
far as running a company, let alone running a public company.
Year after year, the results disappointed the shareholders and
yet the CEO kept on spending every last cent of whatever his
latest great idea might be. There was almost no effort made to
inform the shareholders over most of the years as to forecasts,
or where the company was headed or about anything. Read the
ASX announcements, they amount to less than a couple of page
The FPGA side of the product cost hundreds of millions, with no
return on the investment. The company floated at $2 in 1999
and mid last year, 12 years on hit 8 cents. Although the share price
has improved in the last 12 months, this was not driven by the CEO.
Altium still has many capable people, many have been there
since the IPO, and still others before that. If they listen to what
the customers want, and deliver a working solution, there will be
a great future for the Staff, the shareholders and the customers.
So finally, the staff with expertise in their own areas can do their
job and get on with running the company as it should have been.
He was never CEO material, and never should of held the position.
The move by the idiots on the board to illegally fire Nick Martin was no doubt the stupidest move anyone has made since the city of Troy decided to open their gates for that super awesome wooden horse.
Did they think he would run back to Australia with his tail between his legs? A man who built a multimillion dollar company from scratch, who has dedicated over 20 years of his life to that company and the people in it.
I'll sit here smiling whilst Nick Martin takes his case to the AGM alongside the other majority shareholders and has the entire board fired.
Well, you seem to know an awful lot.
Care to share your real name?
I will freely admit that I know jack all about finances and how the stock market and trades etc works. I'm an engineer, not a stock broker or financial wizard. All I see is that the a) the share price has gone up since they moved to China, and b) that is almost certainly not due to the actual China move in itself. As Clive made the assumption of in this article. That's what I was commenting on.
And it seems you are of the same opinion?
In fact, you are calling it a scam. Are you saying something illegal is going on here?
Are you also saying that laying off staff had absolutely nothing to do with the recent good financial result of the company?
Please explain it all for us less financially educated folk.