Allan Dalton resigns from Move Inc. secret project
By Glenn Roberts Jr., Tuesday, March 11, 2008.The management team that took the reigns in 2002 when Realtor.com operator Homestore Inc. (now known as Move Inc.) suffered from a major management and accounting scandal is dwindling.
Move Inc. announced in U.S. Securities and Exchange Commission filings this month that Allan Dalton, hired as Realtor.com president in 2002 and reassigned to a secret Move Inc. project last year, has resigned but will continue to serve as an adviser to the company (see Inman News).
Jack Dennison, who also joined Homestore in 2002, resigned from Move Inc. in September. In both instances, the company did not offer any comment about the resignations.
Move Inc. officials revealed in the company's latest earnings report that the company's investment in auction-rate securities issued by student loan financing organizations has been tied up at least temporarily by the faltering market conditions, which prompted a public call by one shareholder group to boot Move Inc. CEO Mike Long and CFO Lewis Belote III.
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Submitted by George Percel on March 12, 2008 - 5:36am.
Shame! Allan Dalton knows and understands the real estate business. His leadership has revitalized and made Realtor.com the fabulous tool that it is today. He will be missed at the helm.
Submitted by Ki Gray on March 14, 2008 - 4:24pm.
Move has a secret project? I really dont like how NAR has handed over so much power to Move which isnt accountable to us.
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Submitted by Joe Cline on March 15, 2008 - 2:45pm.
Why we even associate with the likes of dishonest corporate executive scum I'll never know. Is it really that hard to find someone ethical and honest to lead our association's technology group? Does anyone know why NAR doesn't take over the technology side completely and get rid of these losers?
Joe
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