May 24, 2011

When I sold BUYSEASONS in 2006 to Liberty Media

When I sold BUYSEASONS in 2006 to Liberty Media, I agreed to remain as CEO until March 31st 2010. During that time I led the company through tremendous growth, taking annual revenue from $50 million to over $150 million, with equal gains in profits. By Liberty’s own account I was a top CEO.

When March 2010 came, Liberty made it clear they wanted me to remain and continue to lead the Company. They appealed to my loyalty to Liberty and the great employees at BUYSEASONS. While both Dan Haight and I felt he was ready to lead the company, I agreed to stay on as CEO for one more selling season and then transition to an advisory role through 2013.

I am disappointed that today, nearly 6 months after I turned control of the company over to Dan Haight, and delivered my 12th consecutive year of record sales and profits, Liberty is not keeping their end of the bargain. While their actions are disappointing, I hold no ill will towards the employees of BUYSEASONS, Dan Haight or any one of the other members of my executive team. They are superstars, and I expect they will continue to grow BUYSEASONS in ways I never could have imagined when I started the Company 12 years ago.

This post is in response to an article posted today by the Milwaukee Journal.

 

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Jalem is the President of Wantable, Inc. based in Milwaukee, Wisconsin.

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