Cannell Capital bothered to write a ridiculous letter to Jim Cramer and ThStreet.com. It’s making waves across the internets and social media this morning, rightfully so. The gist of the letter is asking Cramer to quit CNBC and work at TST full time, in order to help shareholders recover their losses. He rants about Cramer’s $3.5 million salary at TST and suggests he take draconian pay cuts in order to help out the small plebs who own TST.
Apparently, TheStreet.com has 41,500 paying subs. To me, that’s an amazing number. What’s even more amazing, having first hand experience in the business of premium online financial services, is the level of waste at TST. They should be netting extreme profits; but for some oddball reason, those retards can’t get their act together. Frankly, the answer to TST’s problems isn’t MOAR Cramer. They tried that for 15+ years and the stock is 2 bucks. The long term answer is to diversify away from Cramer and to use the position of TheStreet.com’s dominant position to grab share from the fucked faces who like to write about finance.
The fact that TST does $14.5 million in revenues and cannot book a profit is a fucking disgrace. The salaries given to the fuckheads who are driving that site into the ground should be cut by at least 50%, if not more. If they don’t like it, leave. Between cost of services and GnA, TST is spending upwards of $10 million per quarter, on complete horseshit.
They need to turn that company upside down and into a meritocracy.
Very simply, the robber barons at TST are milking the company for what it’s worth and Cramer knows it. Either he’s complicit in this sham and enjoys seeing his shareholders crushed under the weight of unparalleled hubris, or he is a complete incompetent, more interested in the price of guacamole in Brooklyn than the share price of TST in Manhattan.
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Oh look, the Yale Hockey captain is talking about this on Fox Biz.
Ha ! Douche talking about another douche.
You watch Fox Biz? Now that’s shocking.
What a coincidence!
I was just reading the following from TheStreet, on the subject of BAS actually:
“The net income increased by 242.8% when compared to the same quarter one year prior, rising from -$6.96 million to $9.93 million.”
Read that again…
Someone obviously doesn’t bother to vet the algo math they have auto running into their template columns. What a fucking disgrace.
The Fly should do a takeover. Change it to The Fly dot Com. Give the subs something for their money. It’s kinda like Pandora or Netflix. They just access your bank account or credit card. Maybe even that health club you seldom visit. The charges are so small you don’t even care, and you use the service once in a while.
If running TST, I’d completely destroy every other finance site ever made in the past and all those who attempt it in the future.
To me sir, you are doing that already. I used to go to TST, Motley, Marketwatch, CNBC. I haven’t visited any of those in months.
Agreed, Trent
Let’s put together a group and buy them out. $100 milly.
Fly, thinking hard about joining you in $GPRO.
Don’t do it brother. I am cursed. Keep snorting tits, tho.
I opted for $TRAK. The base is beautiful. 20% upside.
IBC is religion. I love this damn blog!
Cramers’ TST is a feifdom, not a business. This should be embarrassing for someone whose business is knowing business.
So, are you pro or anti Cramer? Because I still haven’t forgotten you getting glad-handed at his little Mexican joint earlier this year, and writing a post about it while absolutely glowing. It was approx 5 paragraphs of total nuthuggery…
+1
Cramer as a person is remarkable. His work ethic is unmatched. However, for TST, he is an albatross and should be cut loose.
Cramer is a diabolical tool of misdirection who disguises himself as some sort of lovable savant that wants to “help” the little guy. iBankcoin should wage a war against Jim Cramer of such proportions, that even Dubz gets a cease & desist letter from his lawyers.
+1
Agreed, UB.
Nice use of total nuthuggery, Unc. As for Cramer, the guy went to Harvard, his parents weren’t poor yet he wants to talk about living in his Ford Fairmont in LA like he was on the edge of the precipice. Baloney.
+1
dewey – kind regards. Cramer must be DESTROYED!!!!
Yes, loathsome buffoon.
Btw, I clicked on the Pipies & Cigars banner at the top of this post
Cramer is just Cramer. He’s often incorrect, as is everyone. He gives it a good try full of opinions on nearly everything with little or no study. But that’s okay if you see it for what it is. TST is Cramer, he’s the big draw.
completely agree, Herr Fly
Who cares about cramer, i just wanna make money… Load up NUGT !! You gonna thank me later FLY
If I may Boss Fly, a brief history lesson for your younger and memory impaired readers. Back in the late 90’s, adding .com to the name of any public company would cause its valuation to increase 100 fold at the least. TheStreet.com was one of the more egregious examples. Of course when web 1.0 crashed, most of these turds were washed out to sea. Why then is TheStreet.com still around (and the stock down 99% from the peak)? I can only surmise it’s so Cramer can have “TheStreet.com Founder” or something like that under his name when on tv, instead of “Financial Entertainer”.
Cramer is great. All I need to do is turn on CNBC and my wife leaves the room.
LOL
I’m done out even with BAS giving me anal fissures. EMES and EOG helped me a lot but the aforementioned death stock stole my soul.
If anyone needs me I’ll be in the bathroom putting some ointment on my wound
Oil or Natty are getting ready to take bath in blood stained urine. No way would I hold these things over night
FIG
Braaaay !!!
Disembowel Cramer in the public square so that all good God fearing people might learn what becomes of soothsayers and false prophets.
Anyone want to be pen pals?
Wow .. GPRO is dead !! Congra .. To people who short it
Doug kASS should be fired. That guy fakes his trades and has been short this whole 5 year rally. What a Charletin! Cramers cool.
1. Signs up for twitter.
2. Makes a ton of short term calls on the market – gets into fights.
3. Announces 3 times a week he’s leaving twitter.
Doug Kass’s 2014 in a nutshell.
Hey Fly you post of Stan Getz playing a couple of headlines ago brings back memories. His son and I played college college sports together.
Plenty of loopholes allow for what might appear to some as a cooking of the books