and TheStreet.com (TSCM) appear to be in a contract deathmatch. Or at least an expensive snag that’s hurting both parties.
Jim’s contract with the company he co-founded expired at the end of last year, and rather than sign a new one he’s taken two two-month extensions. We’d guess that contract talks started at least 6 months before they were set to expire, which means he and TSCM have been dickering for at least 8 months. His current two-month deal expires April 15.
We can’t imagine what the problem is, but there’s no way the two can get divorced: They each have way too much to lose.
Jim’s brand is no longer defined by TheStreet — he’s now a world-famous stock pundit — but TheStreet is still defined by Jim. If he leaves, despite the best efforts of many other talented contributors, theStreet.com craters. But then so does Jim’s 14% stake (per the proxy) in the company, currently valued around $42 million.
Jim has more money than God, and he’s the most famous market guru in the history of the planet. So what more could he want? Similarly, what could theStreet want that Jim won’t give it? Jim’s assistant tells us he has no comment. Anyone else know?
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