Crossroads Wireless of Oklahoma City is still alive but only to divide the assets.
Tom is still negotiation through an Attorney to pay vendors and work with stock holders to determine how the assets will be divided. Chickasaw has agreed to unencumber the assets remaining and retain the liability on them.
Some staff still remain but it looks like there will be more cuts next week.
I have been predicting for three months, gas would hit $1.40 a gallon. Now I'm just one Cent away.
In September, car sales where down as people stopped buying SUVs because of the high gas prices. Then things started to slide and gas prices started to fall. Even before the economy turned bad, I said gas would keep falling as people drove less.
Living in Oklahoma ,(an oil state) I've seen this happen again and again. Oil booms and companies like Chesapeake Energy start spending money like it was water. Then about every twenty years, surprise surprise surprise, it all goes bad. Then they start going bankrupt and putting people out of work.
This time Oklahomans are a little smarter then the last couple or rounds. Oil companies are stunned but not out. Medium size businesses are still building. Most companies are not hiring but there have not been a lot of layoff either.
I think the goverment needs to do some trickle up. Like the space program, create a National Energy Administration and become energy independent in ten years. Nationalize the process but create incentives for busness to produce renewable energey based on their local resources. Wind is in places like Texas, Oklahoma Kansas and solar is in New Mexico and so forth.
(by the way the gas station shown is at 50th & McArthur and photo was taken on Dec 7 2008)
Update (Dec 27 2008) Gas prices reached as low as 1.39 at my station. They were there for about four days. Now they have been in the high fourtys or low fifties for several weeks.
I'm expecting it to say her untill Feburary when it will start to rise again.
Monday December 1 2008 was my last day at Crossroads Wireless.
That morning I was spoke with Dan (CIO) about the stockholder news posted to the company's website. We both agreed it was looking bad. I told Dan I expected the economy to turn around in February of next year. We both hoped Crossroads to make it until then. Just two hours later, Dan came to me today and said it was over. Everyone began to packing up their desks and by 3:30pm everyone was gone.
Crossroads Wireless was a great place to work and I believe it would have done well had the economy not turned bad and the investor money dried up. We had just started to get everything working. Data worked, Voice worked, SMS / Email gateways worked, we had even produced bill for other carrier roaming customers. Lots of technology and lots of challenges, just my kind of place. I'm now hunting from my next perfect job.
Hey Mr. Gates, you need to create an OpenSource division of Microsoft to work on needed project like Banking software. This would really change people opinion of the company and do lots of good.
Mr. Whitehurst, Redhat should really start a podcast to talk about your product and promote OpenSource. Would you be interested?
Mr. Business Owner, you should be using OpenSource software to cut costs and bring more intervation to your company. If you are using the same accounting practices as your competior how can you inovate? I can show you how to save money and move ahead.
Call me at 405 343-9332
Email me at Mark @ Grennan.com
You can read my resume at http://mark.grennan.com/Resume.html