Looksmart CEO Resigns

Looking For A Way Out?

[digitalghost]

Can't say that this is exactly earth shattering news. How long do you think the new CEO will remain?

[smh.com.au...]

[rubble88]

A bit more here. In addition to the CEO leaving, three Looksmart Board Members have resigned.

From the article,
"The exodus, discussed during a hastily announced conference call Monday, is a result of "irreconcilable differences" on the company's board, according to Evan Thornley, LookSmart's departing CEO. He said the board had been divided over company strategy and his refusal to step down as chairman after the firm's shakeup is complete.

"During the past few weeks, serious and honest-held differences of opinion have emerged between members of our board," Thornley said. He added that "unfortunately, they were not resolved."

Full-Text at:
[sfgate.com ]

Also: Original LookSmart News Release,
[shareholder.com ]

[toolman]

Bankruptcy to follow soon?

[rcjordan]

Thornley also described one of LookSmart's directors, whose name he did not disclose, as disagreeing with the company's strategy. That director, he said, thought the company should focus on another business altogether.

When a director supports bailing out of the business entirely, then it's definitely bad times. 'Course, we knew that already.

[martinibuster]

Sounds like people around here are shining up their dancing shoes... while waiting for the grave to be dug.

[Jill]

Sounds like people around here are shining up their dancing shoes...

With the way they've treated their customers lately can you blame us?

[Conard]

Yes, dancing shoes and decent MSN rankings.
When I watched all of the dot com hype I scratched my head and wondered "What are they thinking?".
Then Looksmart pulled the ole switch-a-ru on all of us and I wondered the same thing.
No matter what your business...if you live by the sword...you die by the sword.

[minnapple]

Inktomi is also having problems.
Their stock price has dropped drastically over the last week.
If they stay below $1.00 for a period they will de-listed from the Nasdaq.
Need to reconsider the value of Inktomi inclusion pages.
Could be left with worthless inventory.

[Tor]

Bankruptcy to follow soon?

[Tor]

In my opinion they are heading towards bankrupcy ...

[chris_f]

Bankruptcy to follow soon?

Let's hope so.

If this does happen, who will take control of the L$ search engines. MSN might go back to the way it was before L$ (I'll rank highly again :)). Will MSN then take control of the L$ search engine? Google? FAST? Yahoo? AOL ... ... ... the possibilities here are endless.

Doesn't the AOL chairman (or someone just as high) already sit on the L$ board?

Chris