Legacy @RMGNetworks’ @Garry_McGuire
Adrian J Cotterill, Editor-in-Chief
Last Monday we covered, somewhat in depth, and with the help of some excellent guest editorial, the demise of RMG Networks Holding Corporation (NASDAQ: RMGN)’s CEO Garry McGuire and the travails that have beset the company since its acquisition of Symon Communications, Inc. and going public on NASDAQ.
Garry McGuire and our travelling Grandma
They say that ‘pioneers often die with arrows in their backs’ and we’d like to stress how important it is that the industry does not judge Garry McGuire – who led RMG Networks since July 2009 when it was Danoo on his last nine to 12 months alone.
Garry initially steered a rocky Danoo along, then handled the very tricky acquisition of IdeaCast, re-branded the business which ultimately led to the creation of a USD 75M publicly held, global company.
At times he got his business into the right niches and sensibly out of others. His board didn’t always help him (witness the crazy Akoo distressed assets purchase) but I am sure he will be most proud of creating a brand new captive audience space inside airplanes with all the major US airlines, United, Delta, US Airways, Virgin America, Jet Blue (just missing American) and Etihad and Singapore Airlines are both seemingly works in process.
Garry was also the first industry CEO to really place a significant focus on the importance of marketing in our industry (truly setting himself apart as a marketing visionary). Garry recognised the importance of branding a company, handling its social media, good internet marketing, building a great web site (and associated key word search acquisition) and of course spent well (and we think, very wisely) on building the industry’s best Executive Briefing Centre on the planet.
August 5th, 2014 at 23:32 @022
“pre Garry” the company never had a negative quarter.
“post Garry” the company has had nothing but negative quarters and saw its stock drop from $13 to $1.
Don’t be so anxious to defend your friend, Adrian. Garry is 100% responsible for leading RMG down the slippery slope it is descending. If he’s such a good guy and a “pioneer,” maybe he can be “the first industry CEO” to give back the money he got for leading the company afoul, or donate it to the 30+ people who lost their jobs thanks to him.
Don’t throw a softball up in the air, Adrian, and expect people not to belt it out of the park. Garry screwed up big time.
August 8th, 2014 at 08:11 @382
In the cautionary case study that will be written about digital place based advertising in the US, Gary will stand as a memorable character, and we all know the reasons why, and few of them jive with the fawning babble above. Gary was entirely about the next deal. Didn’t have to make a lick of sense, only that pen was put to paper, and a press release was issued. And while a master of sizzle who created outlandishly impressive and expensive marketing pieces, he abhorred facts and scoffed at the ramifications of making sensationally false public statements. This is why he lasted but a handful of very uncomfortable months once the facts came due each quarter to Wall Street. But hey, as John McCain said about Sarah Palin – “What the F else were we supposed to do?” Rock on, Gary Glitter!
August 8th, 2014 at 17:57 @789
OMG Garry Glitter. Utterly perfect. Adrian, the expression about pioneers is that they get the arrows, settlers get the land. There isn’t a saying for when charismatic pioneers run their wagon trains off of cliffs, but you might research The Donner Party to have a more accurate analogy to Garry’s impact on the ad based dooh sector. We will remember his charisma, but could have done without the outlandish BS.