Tuesday, March 17, 2009

Breaking a link

Today I ended my last connection with CBT Systems/SmartForce/Skillsoft by selling 1,195 shares that I owned in the company. These shares were purchased between May 2000 and May 2002 for just over twice the price that I sold them for. Skillsoft stock rose over 25% today and I decided that this was a sign to sell - I have held on to these shares for nearly nine years and they have never been worth more than what I paid for them.

I joined CBT Systems almost 20 years ago to the day (28th March, 1989), when it was a small company - my employee number was 36. It went public on the NASDAQ in April 1995 - between then and 2002 when I left I had a lot of stock options and for a short period made some good money. At its height, it was worth over 6 billion dollars and employed over 1,500 people. It was great to be part of the dot com boom, not so great to be part of the dot com bust. I took voluntary redundancy in September 2002 and have never been sorry that I had left the company.

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