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Tonight Spontaneous Rich spoke on the WSE group alluding to more delistings. It was the first I'd heard of this new round of company removals. After checking the World Stock Exchange, I found Rich to be speaking in earnest. One string of delistments was Casper Trebuchet's "Lemur" brand - of which I'm the Chief Communications Officer.

It was not previously reported prior to this article, but this new round of delistments follows a CEO intiative to make inquiries of Luke regarding their future on the WSE.

Full Disclosure? I prompted that CEO discussion.

After initial requested delistings from the WSE, I became concerned that individuals might not have had the full story. And since further delistings were going to occur, I wanted these CEOs to make the best informed decision. That meant giving Luke Connell a chance to explain some of his actions and reassure CEOs of his good faith efforts to bring WSE into the new era. One of the individuals I contacted was Delicious Demar. Why? Because Delicious Demar is one of the most respected businesspeople on SL. She has a good relationship with Luke Connell, and is a leader in her own right. Further, her intentions to stay on the WSE would act as a negation of biases others had.

I should note that Delicious Demar has also had her account locked. 7 of the 14 companies represented at the CEO meeting have been delisted. So it seems there was a leak, and that whoever is feeding Luke Connell his information put a spin on it to suggest it was a mutiny. Trebuchet, who again, I worked for, made it clear on his Lemur Invest Blog that mutiny was the last thing on his mind.

Among allegations that Casper Trebuchet tried to incite a riot, there was also an accusation that he leaked the "killer app (A WSE Facebook Application...yay)." Frankly, nobody needed to leak that, since every other sentence Luke was saying "Facebook," then "killer app." I think we're all pretty aware of the secret. Hell, we had three months to ponder it.

Before I get to the juice, let's make something clear on why Luke is systematically removing all negative feedback on WSE while running with the "Facebook application" theory. Individuals using that Facebook application would be treating WSE as its own application. They'd be doing so without interaction with Second Life or our information sources, so if they didn't see it directly on the WSE website then there's a good chance they'll NEVER see it. Shrewd Move, Connell.

Here's where it gets bad for shareholders. Luke delisted these companies and assigned them shares in the WTF. Pretty generous of him, right? Well, I had a conversation with Luke (which I'll provide below with his objection) that clarifies something: Even if CEOS WANTED to buyout their shareholder shares, Luke would not allow it. He has taken all assets in the CEO portfolios (and now mine, doh), and distributed it amongst...himself.

So here's that chatlog, again, I didn't receive permission. And I was asked to keep it private. This wasn't written with my expectation that it'd be posted, since I was only recently made aware that LLs policy doesn't extend to websites. Enjoy the reading:

[19:56] Konner McDonnell: Hi Luke. Will Lem, LFB, HHH, and LWI CEO Casper Trebuchet be allowed to obtain his assets? And if he wants to buyout the companies shares in a gesture of goodwill to shareholders, would that be accepted?
[19:58] LukeConnell Vandeverre: They are delisted and all balances assigned to the casper account are now under the management of WSE Traders Fund and former shareholders will be transferred to WSE Traders Fund
[19:58] Konner McDonnell: What are the grounds for delisting his company and take his assets?
[19:58] Konner McDonnell: Citing anything in the terms of service, that is.
[19:58] LukeConnell Vandeverre: Casper has recieved far more lindens from WSE than the small amount assigned to that WSE Account
[19:59] LukeConnell Vandeverre: He breached WSE policy by breaching confidentiality and undertaking actions that were place a serious risk to the future stability of the WSE moving into the launch of WSE 4.0
[20:00] LukeConnell Vandeverre: sorry about the grammer
[20:00] Konner McDonnell: Did he sign a confidentiality agreement or is it clearly listed in the TOS?
[20:00] LukeConnell Vandeverre: there are more reasons however those are the key ones
[20:01] LukeConnell Vandeverre: Konner WSE isn't real, its not real life, if the WSE decides to delist due to certain reasons it can, there doesn't need to be a confidentiality agreement, its the virtual world ok
[20:01] Konner McDonnell: Fine, my last question then, so I can clarify.
[20:01] LukeConnell Vandeverre: Simple case of this is between us dont repeat it, then if its repeated its a breach of confidentiality
[20:01] Konner McDonnell: Alright, as to my question.
[20:02] Konner McDonnell: If Casper wants to buy out all of those companies and give each shareholder the full value of their shares, this would not be allowed?
[20:02] LukeConnell Vandeverre: those companies dont exist they are delisted removed any previous operation is no longer relevent
[20:03] Konner McDonnell: Do you object to the public posting of this chat log?
[20:03] LukeConnell Vandeverre: yes I do, I'd like to think you will stay at WSE and watch it moving foward so I'd prefer this converation be between us
[20:04] Konner McDonnell: I'm sorry, I can't do that, Luke. My first responsibility was to those shareholders. But per your request, I will not make the chatlog public.
[20:05] Konner McDonnell: Whatever locking of my account that needs to take place, I understand. Make good use of it.
[20:05] LukeConnell Vandeverre: Your resposibility with any virtual business on WSE ends the moment WSE closes the business on WSE
[20:05] Konner McDonnell: Sorry, you can't make the call of where my responsibilities begin and end.
[20:06] LukeConnell Vandeverre: As per the WSE terms of service and constitution etc WSE determines how everything on the WSE is operated, listed or removed.
[20:07] Konner McDonnell: That's a distinction you've made. Not me. And those companies do not begin and end with the WSE. Delisted does not mean extinct.
[20:07] LukeConnell Vandeverre: This is not real, the WSE made that very clear and therefore when the WSE says its closed on the WSE it is closed.
[20:07] LukeConnell Vandeverre: You made that distiction when you agreed to use the WSE service
[20:07] LukeConnell Vandeverre: Thank you for your time. Have a nice day
[20:07] Konner McDonnell: Yeah, you too.
[20:08] LukeConnell Vandeverre: Whatever you decide to do seperate to the WSE website is your business.
[20:08] LukeConnell Vandeverre: When its on the WSE its operated by the WSE
[20:08] Konner McDonnell: We've nothing further to say on this issue.
[20:08] Konner McDonnell: Best.

So, there you see it. CEOS are dissolved (Casper had a portfolio estimated at 4.2M L$)and any attempt to "make good" with shareholders is denied. Not quite the altruistic efforts purported behind the creation of the WTF, is it?

You also see that I asked for permission and said I wouldn't make it public. So there you go, my credibility is shot. It's worth it. Let fire and brimstone rain down upon me. I could care less.

On a completely selfish note: I'm now unemployed. And I'm accepting offers, send them to KonnerMcDonnell@gmail.com or contact me in SL :)

So that we're clear on disclosure: I WAS the CCO of Lemur, Inc. And until Luke reads this, I have a WSE portfolio worth $50 USD. Screw it.