Thursday, June 17, 2010

Big News

There have been some big changes around our house this week. I haven't been able to go to Pilates or go volunteer at the school in the middle of the day. Jon has not been home. And while it has been an adjustment for me, I am so excited about the new adventure that has taken him away from home.

Jonathan and I made a rather large purchase last week. We bought a company and a store. Perhaps those of you in the Las Vegas area have heard of it -- Laptop Xchange? Here is the press release I wrote up about it:

---------------------FOR IMMEDIATE RELEASE--------------- 

LaptopXchange is Acquired by Investor Group 

HENDERSON, Nevada (June 14, 2010) – Laptop Xchange 
Franchising, LLC, franchisor of the popular LaptopXchange 
concept announces it has been acquired. Jonathan M. Waite and a 
small group of passive investors acquired the franchisor and its 
corporate store located at 1381 W. Sunset Rd. in Henderson in a 
deal that officially closed on June 14. Waite holds a majority 
interest in the company and will be operating as the Chief 
Executive Officer and President. 

Co-founder Timothy Smith will remain as the Chief Operating 
Officer of the franchisor and retains a minority interest in the 
company. Co-founder Michael Smith was retained as a consultant 
for the next year and a half to train new franchisees.  Waite and 
Smith are excited about their plans to grow the business 
nationwide and enhance the support provided to current 

"We will be working with new marketing partners including a 
nationally renowned franchise development partner to roll the 
LaptopXchange concept out across the country," said Waite. "We 
will also build a new website and commence a brand new franchise 
marketing campaign. Having a well capitalized franchisor like we 
do now opens so many possibilities to us.”   

Waite plans to leverage the already strong brand recognition in the 
Las Vegas market to surrounding areas and nationwide.  That 
process includes working on ways to improve the lending process 
for franchisees and seeking a listing on the National SBA 
Franchise Registry.   

"We plan on new and exciting news for LaptopXchange in the 
ensuing months and years," said Waite.  

About LaptopXchange: 
LaptopXchange is a premier retailer of quality used, off-lease and 
factory refurbished laptop computers and laptop accessories.  
LaptopXchange is also a premier service center for all brands of 
laptop and desktop computers.  The first LaptopXchange opened in 
2001 and has been committed to providing each customer with 
superior service.   

About Jonathan Waite: 
Jonathan M. Waite, is the founder of McKay Capital Management, 
LLC, an asset management company, and Precipio Research, LLC, 
an investment consulting firm catering to institutional investors.  
McKay Capital managed an investment fund that beat the S&P 500 
by 45 percentage points during a four-year period.   

Before McKay and Precipio, Jonathan was twice recognized by the 
Wall Street Journal’s “Best on the Street” for stock picking as a 
senior equity analyst at KeyBanc Capital Markets.  

Media Contact: Stephanie Waite, public relations 


We are very excited about this new adventure. My girls keep asking how old they have to be to work in the store. Jon is still doing his Precipio Research Company so he still researches restaurants and works stock market hours for that. The hedge fund, however, he closed in April so he no longer has the stress of managing other peoples money. And it looks like I am now the VP over Public Relations. I just made that title up for myself. You get to do that if you are the boss right? :)

Some may wonder if I am nervous about such a major change. Job changes can be scary especially when you put your life's savings into an investment. I, however, am not nervous about this at all. The store is already established and both it and the parent company are profitable. We hope to use the capital we bring to the company to grow it by selling franchises nationwide. I have full confidence in my husband's ability and his plans to make this happen. 

So if you have an old laptop sitting around your house and you live in Vegas or Henderson, come sell it to us and take home some CASH. We take Apple or PC laptops. And if you need a new laptop, come see what we have in the store. You may just save yourself a bundle of cash!

*** If you have already used Laptop Xchange and been satisfied with your service we would love for you to go put a positive comment on any of the websites that do reviews for it. Thanks ***