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Rackspace Needs to Find Its Rhythm
Last November, what passes for a freak accident on the information superhighway sideswiped Rackspace(RAX Quote).
A truck -- an actual, real-life truck composed of a serious mass of molecules -- slammed into a utility transformer, depriving Rackspace of power at a crucial data center.
It was Rackspace's misfortune that a truck showed up again -- metaphorically, this time -- to derail its carefully planned IPO. Rackspace had lined up a strong crew of underwriters -- Goldman, Merrill, Credit Suisse -- who helped compile a clear, informative prospectus. Even in this parsimonious IPO market, it was expected to go well. ...
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