When I served for six years as Linspire's President, and later as CEO, one of the things I took pride in was our solid management team. Organizationally, the company was buttoned up from top to bottom. We had a top-notch finance team that made sure we always stayed on top of our accounting, audits, financial statements, and compliance to shareholders with properly scheduled and documented board meetings and annual shareholder meetings. Since leaving Linspire, this practice seems to have ended.
I hold quite a bit of Linspire stock, and one of my biggest concerns when I resigned from Linspire back in July of last year was that Michael Robertson, and whomever he chose to appoint as the new CEO, would not have this same awareness and concern for the dozens of Linspire shareholders that I had.
Quite some time back, Linspire became delinquent in holding their annual shareholder meeting. I have twice emailed them asking what the status of this was (once in January and then again in March) and have not received any response.
Linspire has around one hundred shareholders, and the fact that Linspire management fails to comply with their responsibility to these shareholders is an unfortunate sign and does not bode well for those of us holding Linspire shares with no voice or oversight. My opinion of Michael Robertson is he plays fast and loose with rules, regulations and laws. It would appear my opinion is validated in regards to Linspire's responsibility to shareholders. Michael Robertson, as Chairman of Linspire's board, and Larry Kettler, as Linspire's CEO, should comply with their responsibility to shareholders and immediately hold their annual shareholder meeting. As it stands now, shareholders are left in the dark as to Linspire's plans or financial stability.
This is just one of the many things I know of happening at Linspire which lead me to believe Linspire is struggling, which is not encouraging for Linspire shareholders or customers.