Bad Q3, sounds like a market surprise, down 50% after the earnings were announced, that indicates that the market was surprised and doesn't buy the prior "things are great" talk track. Biggest investor Starteepo issued a public letter essentially denouncing the the CEO and Board, wonder if Starteepo will buy a few more shares and dump the CEO and board? In retrospect, it sounds bizarre that the CEO hinted at raises in August after telling everyone how great Q2 was, but he needed to wait (??) and then Q3 is a disaster? The CEO keeps communicating that he's all about simplification and empowerment and then adds multiple layers of SVP's on up (???) and then announces that he needs to personally approve any hotel stay or rental car? Hey, if you are reaching that deep, why not try to address the salesforce not getting paid commissions on time. The company is losing confidence in him when he reaches down so deep, Ii reinforces that he can't pick the best leaders, and manage the larger priorities.
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@be I have to agree there is a play here and we are all in the final act
@ba Here is the play- Starteepo will swoop in, make changes to the board, send King Louie on his way with his para$hute, and then sell off XFS and cash in.
Don't forget to turn out the lights.. Oh, I forgot- the electricity has been turned off.
Best of luck to all.
Is he cutting down on our marketing team who are led by a washout? Flying 1st class all over the world? Is he cutting out the staff who have company cars but work from home? Is he cutting out the huge building costs in Webster? Is he cutting out the IT nonsense being delivered and going back to basics. I’m sure there are many of us who could tell him what to cut out