Barge: Re: "...you won't see me stabbing him in the back..."
IMO, we have to realize Bill Solms inherited a horribly managed company trying unsuccessfully for years to peddle security products. He has four major tasks:
1. To rid the corporate superstructure of the voracious parasites infesting it. [mission accomplished here.]
2. Hire real sales people who are not paid unless they sell (accountability--missing before)*.
3. Evaluate the product line and see what works and what doesn't.
4. Re-establish Wave's badly tarnished credibility damaged by the continuous lies of the previous CEO.
I suspect the evaluation part may be the most critical. I think he seized on VSC because that may have been the best product, closest to being market-ready.
The other Wave products may require some drastic re-engineering before they are ready for market. That is total speculation on my part--based on long time observation of all things Wave.
*Sales people and their products--even great salesmen have difficulty trying to sell a deficient product. Maybe the VSC 2.0 launched today is helping hold the tent up until the other products can be re-jiggered to be more acceptable in the market place. Again, just speculation.
As for stabbing Solms in the front or the back--not necessary. He has had a Herculean task and since he was brought aboard before becoming CEO, he knew what he was getting into--and obviously thought he had a good chance of pulling it off.
I am willing to give him a little time to execute his vision of what Wave should be. We must not lose perspective on how onerous and difficult the job is to right Wave after so many bad years that sucked the very life out of the company through mismanagement, plunder, waste and horrible decisions ineptly executed.
Wave may yet be a good investment, but the road back to respectability and to a first profitable quarter is not going to be a short one, nor will the voyage be a quick one.
On the other hand, if sales do not start to happen fairly soon, many [including myself] will be tempted to write Wave off as hopeless.
For now, IMO, the wisest course of action is no action at all.
Blue
AI
