Support SoFo & Vegas 4.0!

Jay Gladwell wrote on 2/4/2003, 7:34 AM

This is so unlike me... anyway.

This forum is one of the many things that makes Vegas and SoFo so wonderful--their support is second to none, that I have experienced. I read elsewhere that SoFo is treading on thin ice. A great deal is banking on the success of Vegas 4.0. I, for one, can't wait for the upgrade. Whether this is accurate or not, I hope each of us here will spread the word at every opportunity regarding Vegas 4.0. I got VV 3.0 when it was first released and it has preformed flawlessly for me. Any problems I did experience were "user error." And because SoFo obviously listens to and supports its customers (a couple of things I suggested, along with may other users, are now in 4.0), I think it only fair that we "support" them! It would be a crying shame for this company and its product(s) not to succeed.

Just my two cents.

Jay

Comments

zcus wrote on 2/4/2003, 7:53 AM

I aggree! I was a former RT2000 user and I'm always letting people know how GREAT Vegas is. This is the most intutive well thought out software I have used.

Thanks Sonic!

rextilleon wrote on 2/4/2003, 7:57 AM

Yeah, I think that if you use Vegas for awhile you automatically become a supporter---I guess we will know what the future will bring by the end of Febuary--Thats the end of the 60 day period that the CEO mentioned. I wish the developers the best of luck whatever happens---Can't say as much for the CEO. (I wonder if his brother-or was it his brother-in-law got his principal and interest (60%) back on that bridge loan. Because if he didn't, he gets the company----Great deal for the stock holders! LOL.

Tyler.Durden wrote on 2/4/2003, 8:22 AM

Here's a thought:

If you had the opportunity to get a loan from your brother to save your company, wouldn't you?

At least if defaulted, wouldn't the likelyhood of your being able to get the company back at some point be greater if it was your brother who took receivership?

The deal with the brother *may* just be a hedge, in the event the selloff doesn't do so well.

my .02

mph

Baylo wrote on 2/4/2003, 8:49 AM

Of course, it isn't necessarily the CEO's company in the first place - it's the shareholders'. You might hope that the CEO is a significant shareholder, and he may well be but I don't have the time at the moment to check that. Nonetheless, what about all the other shareholders?

Mark

Tyler.Durden wrote on 2/4/2003, 9:17 AM

My understanding is at the very least, the board of directors approved the loan...

with the president abstaining in the vote

mph

rextilleon wrote on 2/4/2003, 9:21 AM

marty----if my brother wanted to charge me 60%(loan shark rates) for a bridge loan and have me back up the loan by giving me first call on the companies assets--then I would have to say that someone could question my doing what is right for the stock holders. Boards are often controled by CEO's and thus their approval is meaningless-- in my mind.

rextilleon wrote on 2/4/2003, 9:23 AM

Oh, I forgot one thing--lets say the board was independent----well there is a very good chance that the CEO did this based on his power as CEO and didn't need board approval (I'm not sure) -----Hey, I am a stockholders rights person and I don't like what I am seeing here.

rextilleon wrote on 2/4/2003, 9:32 AM

Sorry Marty, one more thing---If my brother wanted to loan me the money to save my ailing company, then of course I would greatly appreciate that---I would be willing to pay him a reasonable interest rate for his risk----I think that in this case the interest rate is obscene. Let me give you an example--we borrowed about 1,500,000 dollars from a major corporation to purchase and build a small building. We needed a bridge loan until we completed the project and sold it----the corporation gave us the money at 10% interest---with the land as the collateral. By the way, the corporation involved wasn't family! I think the brother (or brother-in-law) probably figured it was a no brainer----Its a short term loan with an awesome interest rate backed by tangible assets (and if we are to believe the CEO, they are worth more then the book value of the company). There was probably no other person out there who would loan Sonic the money they needed. My whole point is what about 20% interest and assets worth the amount of the loan?

I own stock in the company and these are questions I would love to have answered----