Answer to: Why doesn't Bruce just sell? in What's up

I don't know his personal reasons for not selling, but I can give you a few that may apply.

It is not easy to sell a business even if you have a buyer. There is more to it than just the code, domain and data. There are trademarks to be transferred, contracts with customers, previous or current employees or consultants, vendors and advertisers, accounts receivable and quite possibly debt. All the books must to be up-to-date, accurate and possibly audited.

The web property itself has value, and Bruce may have leveraged that value to obtain financing either for OD, another venture, or personal credit. It may not be possible for him to sell without turning over the proceeds to a creditor.

Another consideration is taxes. If he owes taxes for the business for any income he generated, those would have to be satisfied upon any sale before the assets could be transferred. All those financial and operational issues would be exposed in any sale that would net him what he thinks it is worth, and that would secure a buyer all they need to make a go of it.

The data rights to the content is a small and surmountable problem and could be solved with a change-of-terms notice and an opt-out option.

Also, any lawsuits pending against the company would have to be disclosed. It is possible he has little ownership stake left to sell. In some cases it is more palatable to a business owner looking to divest to simply let it go moribund than to suffer the scrutiny of a sale.

As for why he won't give an firm date for going offline, he probably doesn't know. He likely got an e-mail from his host provider with "your account is subject to suspension" for non-payment. He's ignoring the notice and just waiting it out.

This from your friendly neighborhood business consultant. It is solely my opinion. I have no insight into his thought processes.