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chris/CO149
co149
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November 2010
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chris/CO149 [userpic]
High Finance

In 2001, my wife and I bought a house. The price on that house was about 3 times our combined annual income. With financing (assuming we just make payments for 30 years like good Americans), the cost of the house comes to about 8 times that original income.

We're doing better now, thanks, but the Zillow appraisal of our house is still 2.5 times our annual income, and we all know Zillow lowballs their estimates.

In 2006, Speakeasy, Incorporated, the scrappy little ISP that I used to work for (at an embarrassingly low wage, I might add) grossed over 80 million dollars. Today, I learned that Best Buy has acquired Speakeasy for 97 million dollars. Best Buy notes in their press release that this purchase will be "revenue neutral" in 2008. I think "revenue neutral" in this context means much the same as "paid off" at 1.2 times Speakeasy's annual revenue.

Best Buy certainly just made the best buy.

I sincerely hope that all you good folks still working at Speakeasy get a good cut of that action. But I think Speakeasy sold out cheap.

As did I when I worked for them. Silly me, to think there was something better than money to work for...