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Where art thou IBM?

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According to the recent 10K (page 9, 10), in 2008 IBM accounted for 11.3% of revenues and was Vitesse's largest direct customer.

For the 3 fiscal years of 2008, 2009, and 2010 IBM is not even in the top 5, meaning sales to IBM pretty much vanished during 2009/2010......

Some of the longer time bagholders here may recall RY and his 3 inital company that was just waiting, I mean waiting, as Rex Harrison put it in "My Fair Lady" that IBM was 'waiting to buy parts from Vitesse, they were willing to but parts from Vitesse, they were WANTING to buy parts from Vitesse'......if only Vitesse would clear up their accounting issues......

Guess that didn't turn out to be the case......perhaps IBM got tired of waiting and went to firms that weren't run by less than stellar management. Or maybe IBM just learned a little earlier than us, as CRG bragged to the B. Riley guy that Vitesse didn't really make too many new products over 2008/2009, even though Vitesse spent the big bucks on R&D......and as CRG smirked to RY afterwards "Yeah, and look how much we still get paid!".....as he and the Yonkman did high fives and fist bumps over their extremely good fortune.

Dat be yo good news story from me today.

Posted by altrfan - 14 years ago | Updated 14 years ago

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I believe that this be the reason for the hire of Perna. The
YO-YO Yawnker needs to go.

Posted by christ3opher - 14 years ago | Updated 14 years ago

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My guess is that maybe IBM didn't like it when Yonker opened his big mouth and implied that one of their big customers who went by 3 initials was going to give them a lot more business as soon as they got their finances in order. Remember he even said he was getting ready to make another visit to see them? (since when does the CFO have to make calls on large customers) IBM leaving doesn't match with the other yo-yo (Gardner)'s oft repeated remarks that once Vitesse is designed in sole source, the customer is pretty much stuck with Vitesse.

Posted by sharpinvestments - 14 years ago

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