The sinking sub

Being on a sub going down would be no fun! No one wants to be stuck at the bottom of the ocean in a sub. I suspect this is how the people at PubSub are feeling right now. Bob Wyman has openly spoken about the troubles PubSub is facing (via The RSS Blog). It seems that after an internal power struggle minority shareholders are holding the company hostage.

What struck me was the openness of Bob’s post:-

What has prevented us moving forward is a battle with a group of minority shareholders, some of whom claim to be lead by our ex-CEO Salim Ismail and are, in any case, primarily his “friends and family.” This group is using very unusual clauses in our Shareholder’s agreements to block mergers or financings.

A very open conversation with his customers!