Julio, your comments are appreciated, but capitalism isn't really the issue here, deliberately fraudulent activities by individuals are, and those are NOT allowed by at least the laws in the U.S. (I won't speak for countries whose monetary laws I don't know). While John Moores and Fred Luddy were not jailed or fined for the fraud at Peregrine, most of the other Peregrine executives were. Not all corporate leaders operate in a manner that shows a lack of care about their people - most of us have worked for some who did and some who didn't. Living a life based on integrity and caring about people is not a national or cultural thing as much as it is a personal one. Either one has and does those things, or one doesn't. It is their choice.
Since I believe a case could be made that Moores and possibly Luddy could or should have known about the fraud, and at very least looked the other way while reaping the benefits of selling their stock at artificially inflated values to the eventual detriment of their employees and outside shareholders, that shows a level of integrity and care of others that I am not comfortable working with. BTW, some of that money, from Moores at least, is what was used to start Service-Now. Maybe I'm wrong about these guys. Fred may have just been a techie out of his depth who trusted the wrong people, something that he admits to having a history of doing. But it would be foolish to ignore documented actions simply because I either don't wish to see them, or prefer to attribute personal choices to a larger mindset. As always, others may disagree and make their own choices. Rick On Wed, Mar 24, 2010 at 8:32 AM, Julio Goncalves <goncalve...@gmail.com>wrote: > ** > > Bing, > > Like Rick put so very well “everyone is entitled to their opinion” but – no > offense - please remember that other countries do just extremely as well in > business as any US company. > Business is business anywhere, USA, Europe, India, China, Africa, Oceania, > etc. > And everywhere, business still tends to be the same, the top guys don’t > really care about anyone else, as long as the shareholders (i.e. themselves) > make money. > Remember also that constitution in most capitalist countries allow for > companies to virtually do *anything *they want to protect shareholders’ > interests. Did I stress *anything*? > > Julio > > On 24/03/10 2:25 AM, "Bing" <b...@itm3.com> wrote: > > ** > Just read the link and came away with a different impression. > > John Moores co-founded BMC in 1980, was a venture capital investor in > Peregrine in 1981, and co-founded JMI Equity in 1992. JMI is one of > multiple venture capital groups investing in Service-Now. John Moores is > not a principal at Service Now. > > I've also meet with Fred Luddy, co-founder of Service-Now, via telephone > and visited Service-Now's headquarters in Solano Beach. (And they are > indeed right ON the beach.) If you think Fred is flying high and scooping > up tons of other people's money, think again. Visit their facility and see > how modestly the company operates. > > My hat goes off to Fred and his brother for doing what American business > does best -- take an idea, find investors, start a company, create jobs, > then work like hell to make it a success. I believe they are deserving of > our respect, not our criticism. > > -- Bing > > ------------------------------ > *From:* Action Request System discussion list(ARSList) [ > mailto:arslist@ARSLIST.ORG <arslist@ARSLIST.ORG>] *On Behalf Of *Rick Cook > *Sent:* Tuesday, March 23, 2010 7:28 AM > > *To:* arslist@ARSLIST.ORG > *Subject:* Re: Service-now.com > > ** That last link from John shows that Moores was also accused of selling > $630M in his own Peregrine stock before the company's financial house of > cards was exposed, causing the stock to plummet to a few cents. Despite > owning over 60% of the company's stock, he denied having any active role in, > or even being really aware of, any of the company's criminal activities, and > the SEC couldn't prove him wrong, so he got to keep it. Hope it keeps him > warm at night. I prefer having a clean conscience, which money cannot buy. > > > Good to know who I don't want to do business with, and any company with > Luddy and Moores at the top would not be on that list. Fool me once... > > Rick > > On Tue, Mar 23, 2010 at 10:12 AM, John Sundberg < > john.sundb...@kineticdata.com> wrote: > > ** > > > > > > > > > Also -- a major funder of Service-now is John Moores > > (M in BMC) > > http://www.jmiequity.com/portfolio/ > > > > Also was Peregrine guy. > > http://en.wikipedia.org/wiki/John_Moores_(baseball)<http://en.wikipedia.org/wiki/John_Moores_%28baseball%29>< > http://en.wikipedia.org/wiki/John_Moores_%28baseball%29> > > > > > > And -- interesting: > > http://www.businessweek.com/magazine/content/02_41/b3803060.htm > > > > > > > > > > > > > > > > -John > > > > > > > > On Mar 23, 2010, at 8:46 AM, Guillaume Rheault wrote: > > > ** > > Great point, it only takes one rotten apple to spoil the basket. > I don't think he'll conduct himself as Mother Teresa!! > > -Guillaume > > > > ------------------------------ > > *From:* Action Request System discussion list(ARSList) [ > arsl...@arslist.org] on behalf of Kelly Deaver [kdea...@kellydeaver.com] > *Sent:* Monday, March 22, 2010 5:14 PM > > *To:* arslist@ARSLIST.ORG > *Subject:* Re: Service-now.com > > > > ** > What scares me.. the CEO of ServiceNow, Fred Luddy, was the CTO of > Peregrine! > > Kelly Deaver > L-3 Stratis / FAA Contractor > > kdea...@kellydeaver.com (ARSlist mail) > kelly.ctr.dea...@faa.gov (Business mail) > > > > > _attend WWRUG10 www.wwrug.com <http://www.wwrug.com> ARSlist: "Where the > Answers Are"_ > > > > > > > > > -- > > *John Sundberg > > Kinetic Data, Inc. > *"Building a Better Service Experience" > Recipient of the WWRUG09 Innovator of the Year Award > > > john.sundb...@kineticdata.com > 651.556.0930 I* *www.kineticdata.com <http://www.kineticdata.com/> > > > > > > > > > _attend WWRUG10 www.wwrug.com <http://www.wwrug.com> ARSlist: "Where > the Answers Are"_ > > > _attend WWRUG10 www.wwrug.com ARSlist: "Where the Answers Are"_ _attend > WWRUG10 www.wwrug.com ARSlist: "Where the Answers Are"_ > > _attend WWRUG10 www.wwrug.com ARSlist: "Where the Answers Are"_ > _______________________________________________________________________________ UNSUBSCRIBE or access ARSlist Archives at www.arslist.org attend wwrug10 www.wwrug.com ARSlist: "Where the Answers Are"
