Pros

Obitz had a difficult start to 2009. The year started with a CEO transition, a down economy, price competitiion from competitors and a leveraged balance sheet. Wall Street analysts were making dire predictions about the company and the stock was trading below $2/share. However, the company led by its energetic new CEO, Barney Harford, has really turned things around and there is great feeling of momentum. Transaction growth has returned in a strong way, profits are up (despite the elimination of the consumer booking fee), new talent is coming in to the company (and some great old talent has returned), and the company just received a $100 MM infusion of cash signalling great support by seemingly intelligent investors. The company has a strong brand and the momentum has returned.

Cons

The company still feels to move at a slower pace than I would like. While things have improved in this regard, there is more work to be done and it seems as if steps are being taken to rectify this. It feels as if there is more beaurocracy than an Internet company should have. And there could be a better sense of teamwork - although this should come as the senior team adjusts to the new additions and begins working together better.

Advice to Senior Management

Keep the momentum going and focus on working together as a unified team.