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Here’s a tip for the C-suite executives out there. If you’re on your way out of a company and on your way to a competitor, you have to play things by the book.
Don’t clog the toilets on purpose. Don’t sit on the copy machine and make 10,000 copies of your undercarriage. And don’t delete your entire hard drive with one foot out the door. At the very least, it looks suspicious.
That’s exactly what former Move Inc – News Corp NWSA – and current Zillow ZG exec Curt Beardsley did. Before making the jump from Move to the competition, Beardsley erased files from a Move Inc computer and a home computer. Taking the stand during a fierce legal battle between the two companies, Beardsley had an embarrassing admission. He wasn’t deleting any trade secrets or other important confidential company data. He was just deleting his porn.
Deleting porn saved on a company hard drive? Where do I start. First, bro, welcome to 2016. It’s called streaming. You know, like Netflix? You don’t download that stuff. You wanna get a computer virus or something? Downloads.What are you, a pilgrim? Still buying dirty magazines at 7-11. I’ll take a pack of Camels, a $20 scratch off ticket, and a copy of this month’s High Society please. I bet you dial 1-900 numbers. And, why are you using your work laptop for that stuff? Home computer or cell phone. Of course, that’s what my friends say you should do. I wouldn’t, uh, I wouldn’t know.
Beardsley was quoted as saying “I had accessed via browser pornographic websites and viewed pornographic material, and I wanted to not have that come out. I wanted to try to hide that.” Well, looks like the cat’s out the bag now. The non-descript brown paper bag. What’s even funnier is that he failed to destroy all the evidence of his shameful acts. The laptop returned to Move still had evidence of visits to a couple dozen explicit sites.
The looming $2 billion lawsuit is just another reason to not to buy Zilliow stock. It is a Zacks Rank #5 (Strong Sell) with Value and Growth Style Scores of F. Estimates have been dropping while the company is still not making any money. With a negative revision for the current year, the Zacks Consensus Estimate now shows a 45 cent loss after a projected 35 cent loss just a short while ago.
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