Sylectus sold!!
- Thread starter JOHNCLARK
- Start date
JOHNCLARK
Expert Expediter
10th~~
Sorry, to hear that!! If anyone can wake up on the wrong side of the bed and put out a post I will win hands down
I know where your at. I'm a little sore because of this and it's a touchy subject. But in the big picture it is what it is. Good luck with the basement. I hope it turns out better than u expect it too
Jefferson3000
Expert Expediter
John,
I know what you mean on the buyout. Hopefully it really won't change that drastically, at least for now. I'd hate to see it end up as cr*ppy as NLM, just 2 years after the Landstar buyout.
I know what you mean on the buyout. Hopefully it really won't change that drastically, at least for now. I'd hate to see it end up as cr*ppy as NLM, just 2 years after the Landstar buyout.
greg334
Veteran Expediter
Sore about what?
Your basement? I would be then, especially if you live in Wayne county.
The sale? I wouldn't be.
I see the good out of this, not the bad. If Stu couldn't get any more out of the company for funding more development of the product line, than he would be overrun by the competition at one point or another and everyone would have loss out.
Right now his move would have been mine without hesitation and the thing that many may not understand is that the product's vision is his vision and Qualcomm seems to understand this by keeping him in place.
Here is a quick example... Compucrap bought out a company that made testing software a few years back. Pretty great stuff and the owner of the company who created the software was the vision and the reason that the customer's flocked to his products - great customer service, modifications without high costs, on-site consultation, etc... About six months after the purchase was made, Compucrap shoved the guy out the door and took over - they actually changed the locks on the doors of his office and building that he owned (wasn't part of the deal) and then sent him an email saying that there will be a check in the mail, thank you for your service. The customers left compucrap quickly, the product seems now to be just floating out there in product line limbo and they cut the development off of the product just this month because of lack of sales.
See I don't see this happening with Syletcus, Stu seems to be the guy who represents the product to everyone and Qualcomm seem to understand it is important to keep things intact while making subtle changes and possibly more integration into their other products which is not just that thing everyone has in their vans/trucks.
Your basement? I would be then, especially if you live in Wayne county.
The sale? I wouldn't be.
I see the good out of this, not the bad. If Stu couldn't get any more out of the company for funding more development of the product line, than he would be overrun by the competition at one point or another and everyone would have loss out.
Right now his move would have been mine without hesitation and the thing that many may not understand is that the product's vision is his vision and Qualcomm seems to understand this by keeping him in place.
Here is a quick example... Compucrap bought out a company that made testing software a few years back. Pretty great stuff and the owner of the company who created the software was the vision and the reason that the customer's flocked to his products - great customer service, modifications without high costs, on-site consultation, etc... About six months after the purchase was made, Compucrap shoved the guy out the door and took over - they actually changed the locks on the doors of his office and building that he owned (wasn't part of the deal) and then sent him an email saying that there will be a check in the mail, thank you for your service. The customers left compucrap quickly, the product seems now to be just floating out there in product line limbo and they cut the development off of the product just this month because of lack of sales.
See I don't see this happening with Syletcus, Stu seems to be the guy who represents the product to everyone and Qualcomm seem to understand it is important to keep things intact while making subtle changes and possibly more integration into their other products which is not just that thing everyone has in their vans/trucks.
RLENT
Veteran Expediter
Stu Sutton is the former head IT dood for TST, who he left to form Sylectus, formerly known as GPSnet Technologies, I believe.
BTW, I agree with you overall assessment - it is potentially a good thing (although not without downsides) - companies often reach a point in their growth where they need deeper pockets (both in terms of money and other resources, such as technology and expertise) in order to take it to the next level.
ebsprintin
Veteran Expediter
and if nothing else, google will save us. --eb
Is the Sylectus you are talking about different from Selectus Selectus Inc. Ateam mentioned? If so, does this mean I can kiss my free portrait goodbye?
idtrans
Expert Expediter
It's easy do the math It's a minimum of $150 to be a member there are around 2000 members so that's $300k per month now you have the other side of the coin now each person on average has 20 trucks each across the board some may have 1 some may have 100 so that is 40,000 trucks now you force them to have a qualcom at $100 per month that's $4mil per month. Plus you can control a industry through a little niche of a web page with a Iron fist !
Sorry to say but my view is man is his worst enemy at times. With fuel up high and possibly going higher and insurance is not going down either. and repair cost and service cost high. now many will have to add even more expenses to their trucks.
We will all just have to sit back and watch what happens. never know they may not force anyone at all to install qua in their trucks.
Sorry to say but my view is man is his worst enemy at times. With fuel up high and possibly going higher and insurance is not going down either. and repair cost and service cost high. now many will have to add even more expenses to their trucks.
We will all just have to sit back and watch what happens. never know they may not force anyone at all to install qua in their trucks.
greg334
Veteran Expediter
You know Qualcomm, like my former employer, would spend $4M on a single retreat for their execs so I would expect this has little to do with the fees and the control. You may even seen access fees drop.
This isn't the only product out there, it fills a niche but not enough to control anything, let alone with an iron fist. IF qualcomm wanted to do that, they would have done that with their tracking units which I understand is still leading the industry and not too many companies who have super critical freight use anyone else.
This isn't the only product out there, it fills a niche but not enough to control anything, let alone with an iron fist. IF qualcomm wanted to do that, they would have done that with their tracking units which I understand is still leading the industry and not too many companies who have super critical freight use anyone else.
Well I will weigh in with my two cents. First off to be honest I think the tone of this whole thread is simply unprofessional. Stu and his partner Ed have done a lot for the expedited industry. They have every right to sell their company at a time and price that they see fit.
As far as people being notified of the sale, well that is really up to the seller and the buyer to make those decisions. I am not sure a carrier who pays a simple monthly charge has made a significant investment. A handful of larger carriers own the use of the code and private server farms. These carriers have true investment into the product.
Qualcomm is not going to force carriers to become users of the hardware systems. The Sylectus product is not even in the same business unit of Qualcomm. If anything Sylectus users may see better pricing and enhanced features.
Stu and Ed are staying on to run the company. The HQ will remain in Windsor and most users will see little to no change. It will bring programming, hardware, and other resources to Sylectus and hopefully help enhance the product. Sylectus will still integrate with other providers and just introduced a integration to a new Qualcomm competitor here at the conference.
Congratulations to both Stu and Ed! At Load One we look forward to the future with both Sylectus and Qualcomm.
As far as people being notified of the sale, well that is really up to the seller and the buyer to make those decisions. I am not sure a carrier who pays a simple monthly charge has made a significant investment. A handful of larger carriers own the use of the code and private server farms. These carriers have true investment into the product.
Qualcomm is not going to force carriers to become users of the hardware systems. The Sylectus product is not even in the same business unit of Qualcomm. If anything Sylectus users may see better pricing and enhanced features.
Stu and Ed are staying on to run the company. The HQ will remain in Windsor and most users will see little to no change. It will bring programming, hardware, and other resources to Sylectus and hopefully help enhance the product. Sylectus will still integrate with other providers and just introduced a integration to a new Qualcomm competitor here at the conference.
Congratulations to both Stu and Ed! At Load One we look forward to the future with both Sylectus and Qualcomm.
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greg334
Veteran Expediter
John, I think many are scared to see any changes that happen and don't know or don't want to know the complexity of how things work. Some have a hard learning curve to get where they are at with any and all systems and this may be one that they are seeing more changes that will negatively impact them - just look at the FedEx/qualcomm threads and the confusion in those threads.
Actually that's a legal issue, not a decision that can be simply made between the buyer and seller. Qualcomm, a publicly traded company is purchasing a privately held company and it can still be considered inside trading if someone on either side buys Qualcomm stock before the announcement. There is also a NDA that is signed when Qualcomm asked to see the books and operation at the start of the sale which prevents any disclosure from the employees of either company about the possibilities of a sale or who is involved. This is common practice for medium and large companies alike.
fortwayne
Not a Member
To even suggest insider trading is wrong. You need to understand the true legal boundaries of insider trading not the perception of such.
Before we get our joints worn out can we at least give the character of Stu the benefit. It was his company, his right to sell and keep in mind he could have took the money and ran, yet he stayed.
That says something about character, class and pride for what he built.
Posted with my Droid EO Forum App
Before we get our joints worn out can we at least give the character of Stu the benefit. It was his company, his right to sell and keep in mind he could have took the money and ran, yet he stayed.
That says something about character, class and pride for what he built.
Posted with my Droid EO Forum App
Jefferson3000
Expert Expediter
GPS Alliance members are more in the just over 500 company range from the search I just did.
greg334
Veteran Expediter
I think you both don't get what I tried to say.
I didn't say anything about insider trading happened, I said that there are laws and regulations that are there to prevent it from happening, one such regulation is about how the process takes place and how the NDA is in place before anyone is allowed to see the books or talk about money. If the "partners" are informed after the sale is made, then it is also not a big deal but as John said, the customer has little to do with it and isn't in line to hear the news after a decision is made, even before ink hits the paper.
TO me it isn't a big deal, another acquisition and one that has little affect on my bottom line if at all. I think it is a good thing.
I didn't say anything about insider trading happened, I said that there are laws and regulations that are there to prevent it from happening, one such regulation is about how the process takes place and how the NDA is in place before anyone is allowed to see the books or talk about money. If the "partners" are informed after the sale is made, then it is also not a big deal but as John said, the customer has little to do with it and isn't in line to hear the news after a decision is made, even before ink hits the paper.
TO me it isn't a big deal, another acquisition and one that has little affect on my bottom line if at all. I think it is a good thing.
TheRebel
Seasoned Expediter
To me it can't be worse than it's now. I've been in the alliance for almost three months and I ain't got not even a 10 mile run. Lucky me with Landstar brokers...
One thing is for certain, change is always happening in this industry.
If it's not the new HOS rules that is going to change how we do business (and IMO drive the cost of goods up through the roof) or a major player in expedite selling it's business. Let's face it, this is very scary to a lot of smaller firms out there that use that service. i head some talk of "forcing" the small companies to purchase the software or be phased out. Or perhaps phasing out all small companies that do under 5 mill all together. Who's to stop QC from selling Sylectus down the road? What if the Fed or Panther bought it..and they got to see who everyone's customers are?? I heard talk of Sylectus potentially selling some of it's data to other companies. Just sayin....this could be nothing and nothing could change, or could be disasterous to a lot of companies. Could go eithier way, let's be honest with ourselves. I can see why some people are leary about the whole thing. With that being said you can't blame Sylectus for selling, it's business....
If it's not the new HOS rules that is going to change how we do business (and IMO drive the cost of goods up through the roof) or a major player in expedite selling it's business. Let's face it, this is very scary to a lot of smaller firms out there that use that service. i head some talk of "forcing" the small companies to purchase the software or be phased out. Or perhaps phasing out all small companies that do under 5 mill all together. Who's to stop QC from selling Sylectus down the road? What if the Fed or Panther bought it..and they got to see who everyone's customers are?? I heard talk of Sylectus potentially selling some of it's data to other companies. Just sayin....this could be nothing and nothing could change, or could be disasterous to a lot of companies. Could go eithier way, let's be honest with ourselves. I can see why some people are leary about the whole thing. With that being said you can't blame Sylectus for selling, it's business....
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TheRebel
Seasoned Expediter
Fees for membership start at $150 (plus $100 for so-called orientation, which actually doesn't exist), but if you upgrade your membership, it can reach the unbelievable fee of "few thousands"... and no, there aren't 2000 members, but somewhere over 500...