Posted on 03/14/2012 2:08:08 PM PDT by bigbob
When Carbonite Inc. stock took a quick plunge this week, there was an obvious consensus about what caused the move: The company pulled advertising from Rush Limbaugh’s talk-radio program after the controversial host made inflammatory remarks about a Georgetown University law student.
Yes, the market could have feared that Limbaugh’s fans would cancel Carbonite’s service, an online back-up solution for consumers and businesses, or mount their own boycott. Or maybe investors assumed Carbonite (US:CARB) will suffer because it will no longer have access to Limbaugh’s audience.
Or it could be that investors saw in the release of the company’s Form 10-K this week that nearly all of its gross profits, some $37 million, went to pay for sales and marketing costs, presumably the ads the firm bought on more than 40 different talk-radio shows.
Whatever you may believe is the cause, Carbonite is the Stupid Investment of the Week.
(Excerpt) Read more at articles.marketwatch.com ...
Well they don;t have to worry about their marketing costs anymore...
Oh hell just let a few liberal fools dump all their money in and lose it all next week as the sharks pick them off
Carbonite went public in an IPO last August, pricing its initial offering at $10 per share. This was somewhat lower than original market expectations, perhaps due in part to last summer’s market turmoil. Nonetheless, CARB was initially lofted by the usual high-tech thermals, quickly soaring to $21.10 before commencing its steady, ongoing dive into oblivion.
Prior to the Limbaugh flap, CARB had already retreated this year to slightly below its IPO offering price. Since then, it’s continued its downward cascade, closing today at $8.05 per share, roughly a 20% drop pre-Limbaugh/Fluke and a nearly 60% drop from its 2011 peak.
Didn’t the Carbonite idiots realize that most of their clients were Rush listeners?
They deserve what they are getting.
In a technology company? If this actually is what it sounds like, run away.
Our production studio here in Hollywood canceled 2 Saturdays ago and they called us 4 days later to re-consider. The nerve of these jackholes..
What is funny to me in all of this are the FR folks who tell us they have turned off Rush for one reason or another. Silly, silly people.
I am a rush listener and I am quitting carbonite.
Just be sure to do it within 60 days. I did so after 30 days and they asked why I was canceling...I told them two words....Rush Limbaugh. They said that is not a valid reason and they refused. So I told them it was slow, that i did not like the interface, and that all the dots on my file structure were confusing. They still refused so I told them fine, I’ll just contact American express. AE advised that they would handle it. What a bunch of p^%#>sthose folks are...
Someone here recommended another company and blast I can’t remember it. My carbonite expires in 20 days.
This article might help.
Online Backup or Local Backup?
http://askbobrankin.com/online_backup_or_local_backup.html
Carbonite? What’s that?
Is it like Snapple?
Online to replace carbonite.
Nevermind. I think it was Crashplan.
Please, buy yourself a 2 Terabyte external hard drive and you'll never have to worry again. n/s
Maybe jimrob can get some new servers at fire sale prices when they go under...
“Please, buy yourself a 2 Terabyte external hard drive and you’ll never have to worry again. n/s”
And also make sure to store that external hard drive in a different location from your computer in case of a fire, theft, etc. Nothing worse to back something up and to find that your main and backup have both been taken out...That is really the only good thing about these offsite storage websites...it truly is offsite.
I never bought the idea behind carbonite in the first place.
It was not worth the expense. A simple and inexpensive external hard drive (USB connected) set to automatically, periodically back-up my entire PC, was not only cheaper (in less than a year) but seemed more sane than sending all my PC contents across the Internet to begin with.
I read that it takes them around $50 to land a customer...and the annual fee is $55.
So, the only way this is going to work out for them, is if people let their plans automatically renew each year.
A plausible plan...until they pissed off all their customers.
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