Welcome to Life Series. Following is Chapter 17 in our new Life Series blog, which explores the life story of Cetis Founder & CEO, Dr. Bing N. Sun.
Chapter 17 - Oops! Sidelined.
Q: The acquisition of the global leader Teledex must have made you proud, and given you a great sense of achievement?
A: No. Actually I was very upset, because the Teledex transition didn't work out as I had planned.
Q: What happened?
A: I was pretty much sidelined. When we closed on the acquisition, I had just been released from a hospital stay and was unable to physically fly to San Jose, California to oversee the transition personally. Also, for quite a few months after the Teledex acquisition we suffered the worst financial crisis in our company history!
Q: But you had just received funding from your financial partner, so what was the problem?
A: Due to a contractural oversight, our financial partner informed us a couple of months after signing the funding papers that we were in default on the new loan.
Q: What did you do about it?
A: I couldn't change what had already happened, but moved to an apartment near our headquarters in Colorado Springs, and worked there non-stop for 5 month. Less than a year later in December 2010, we again became debt-free, while at the same time investing in the resources necessary to support Teledex customers worldwide.
A: No. Actually I was very upset, because the Teledex transition didn't work out as I had planned.
Q: What happened?
A: I was pretty much sidelined. When we closed on the acquisition, I had just been released from a hospital stay and was unable to physically fly to San Jose, California to oversee the transition personally. Also, for quite a few months after the Teledex acquisition we suffered the worst financial crisis in our company history!
Q: But you had just received funding from your financial partner, so what was the problem?
A: Due to a contractural oversight, our financial partner informed us a couple of months after signing the funding papers that we were in default on the new loan.
Q: What did you do about it?
A: I couldn't change what had already happened, but moved to an apartment near our headquarters in Colorado Springs, and worked there non-stop for 5 month. Less than a year later in December 2010, we again became debt-free, while at the same time investing in the resources necessary to support Teledex customers worldwide.
Read all 18 Life Series chapters.
Click on the chapter links below to follow this remarkable life story in sequence. Click here to submit your comments directly to Dr. Sun. Thanks for reading. We look forward to hearing from you.
Chapter 1 | Chapter 2 | Chapter 3 | Chapter 4 | Chapter 5 | Chapter 6 | Chapter 7 | Chapter 8 | Chapter 9 | Chapter 10 | Chapter 11| Chapter 12 | Chapter 13 | Chapter 14 | Chapter 15 | Chapter 16 | Chapter 17 |Chapter 18
RSS Feed