[Previous entry: "Dabblers and Blowhards"] [Next entry: "Looking forward to summer"]

04/06/2005: "Vivato RIFs another 20+"

Vivato closed its San Mateo office effective last Monday. All VPs are gone, save Brad Kolb, who is the new CFO, which can only mean that Regent and the investors will soon close the company, since Kolb isn't a CFO in any material sense.

Stephen Rasmussen and Doug Smidl, both hired by Donald Stalter, are now on the street. Art Coleman and his entire California software team are gone (two have stayed through the end of April to finish a project.) A total of 13 people in the California office have been RIFed, presumably the other seven (plus) affected are in Spokane or the field.

Word I get is that Irwin Federman paid Regent $5MM to sort out the mess.

This is likely just the first strike, as that money will soon run out, if my math is anywhere near accurate.