[mkramlich]

I'd guess that Nordmark taking over the CEO role from Veith was (1) prob a condition or recommendation of the newest round of investors (because Nordmark is more experienced and has the success of eBags under his belt), and (2) the event that enabled Nordmark to gain much more power and transparency over the books, which in turn was the final straw leading to the charges against Veith. This is just speculation based on the publically reported info we've seen, however, and I obviously could be wrong. Since Nordmark is clean and has succesful track record and UM got all the extra cash in April, that all seems to be a net positive for the company. I think the fundamental service delivered by UM is a good one, and unlocking the value in otherwise unused frequent flyer miles is especially helpful to travellers in a recession. Veith is also innocent until and unless courts find otherwise. And I think the TechStars folks are good at picking talent combined with promising venture ideas.