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Industry News

Hello, Stuart?

March 4, 2002

Homestore Founder Not Answering Telephone Calls

Inman News Features

Stuart Wolff has gone missing. The well-known founder and former CEO of beleaguered hasn?t surfaced despite a number of attempts by Inman News Features to ascertain his whereabouts and ask him about his future plans.

Wolff?s home telephone number?once posted on the Web?apparently has been disconnected and calls to his cell phone have rung unanswered. Attempts to locate him through former associates and colleagues also have proved fruitless.

Wolff?s name first surfaced at Inman News Features on Nov. 12, 1996, in a story about the National Association of Realtors? Realtor Information Network?s formation of a technology venture?Los Angeles-based RealSelect?with several large financial investors.

"RealSelect will be run by former TCI executive Stuart Wolff," the story read. "Wolff, who will serve as chairman of RealSelect, said that the venture will have two customers, consumers and Realtors."

Wolff remained at the helm of the company, later renamed, throughout its transformation into the multifaceted Web site operator and real estate technology provider that exists today. Along the way, Wolff himself became a household name in real estate technology circles.

The company?s initial public stock offering took place in August 1999 and its shares once traded in the $100-plus territory. But HOMS shares have been trading below $1 a share since the company announced it misstated its earnings for 2000 and the first three quarters of 2001 by more than $100 million. The shares closed today up sharply at $1.23.

Homestore announced Wolff?s resignation on Jan. 7.

Copyright: Inman News Service

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