I won't believe it
Until they drive a stake through the hearts of all the board members.
Controversial web monitoring business Phorm has temporarily suspended trading in its shares after failing to secure funds. In a statement to the London Stock Exchange yesterday, it said it is in "advanced discussions" regarding alternative financing. "There can be no guarantee that such discussions will result in any funds …
Legend has it that these foul beings can be destroyed by a stake through the heart, or exposure to sunlight.
This does not suffice however, for they may be brought back to life, by means of a secret rite that can be performed once a century, when the moon is in the eighth house of Aquarius.
Same here. Considering it's "just" software, how the hell can they burn through and "lose" so many millions every year while having active customers? It all seems like some sort of scam to put money in the pockets of the board who are probably hoping to sell up and leave some other schmucks in charge of a dead duck.
"Considering it's "just" software, how the hell can they burn through and "lose" so many millions every year while having active customers? "
Hush your mouth, scum. The great unwashed shall not question the workings (and definitely shall not question the morals) of venture capital funding, IPOs, and so on, especially where "tech stocks" are involved. Your name has been duly noted.
Out of interest, what's the regular meaning of this "not in the public interest"? Is it in plain English: they're guilty as hell, but it's run by our PM's younger brother so we're not listening, lah-lah-lah-lah-lah-lah? (or similar level of "public interest"). Or is it more like with the banks, too big to fail/fall, in which case it's not just one brother, but brothers, sisters, mates and pen-pals of a wider group around the top?
> Out of interest, what's the regular meaning of this "not in the public interest"?
I have always found it very strange. In civilised countries plus France, anyone who becomes aware that a crime may have been committed is obliged to report it, and the courts are obliged to investigate and eventually prosecute.
I do not particularly recall the public being consulted on any of those "public interest" decisions. Those chaps must have a really good crystal ball.
In all probability, had this happened in a police type state, with a paranoid, corrupt and evil grubbyment, the reason would have been that either the real instigators of the data grab fraud were in fact said grubbyment or that they saw all the side advantages to their soiled selves if they gave the old nudge nudge wink wink to their pet pocket dwelling telco.
Hence when the inevitable unforseable happened and the s**t hit the fan, there would have been hell of a lot of arse covering to do, or the truth might just have come out in court and some one's 3 figure bmi (thanks, Simon) posterior might have got publicly got spanked in said court....
Hence, DEFINITELY "not be in the public interest".
However, this was in the UK, where all the politicos and corporations are so well known for their honesty and integrity, so it's obviously a complete mystery how and why it all happened.
Isn't it? Honestly?
"Too evil for China. Fine by BT though."
And for a little while, fine for The Guardian as well:
Meanwhile, what's Stratis Scleparis up to these days?
"Stratis Scleparis, the former BT Retail chief technology officer who joined Phorm after overseeing secret trials of its web monitoring and profiling system, has quit the firm."
Strange times, stranger bedfellows.
[edit: Stratis Scleparis]
Let me google that for you:
"Phorm (AIM: PHRM), a leading internet personalisation technology company, announces certain changes to the board of directors of Phorm (the “Board”) and senior management of the Company, to position it to take advantage of the opportunities which have recently opened up in the US market. As part of the changes, Kent Ertugrul, Chief Executive Officer and Executive Chairman, based in Singapore, and Andy Croxson, Chief Financial Officer, based in London, have stepped down from their respective roles effective immediately. Mr Ertugrul and Mr Croxson will be pursuing their other business interests but remain strongly supportive of the Company’s continued progress. The Company is currently in the process of appointing Mr Timothy Todd Smith to the Board as Chief Executive Officer. [...]"
https://www.phorm.com/?wpdmdl=194 15 Jul 2015
New CEO: https://www.linkedin.com/in/timothy-smith-52925869
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