Plug Power Inc (PLUG)

[canadajim]

While it is obvious that Plug has needed to clear up accounting and financial matters for far too long already I would have expected PM to be the man to do it.

Now, after many moons, Paul decides that a $62M/year company needs a CFO AND a Chief Accounting Officer? This is a company that doubled SG&A expenditures in the last 12 months.

I have no doubt that the CAO (pronounced like cow as in cash cow, no doubt) will account for his salary as a first order of business.

Somehow this does not seem to send out a message that institutional investors have been waiting so long and (not so) patiently to hear - that Plug will be managed more professionally going forward.

In my opinion they should have had a press release saying they completed the sale/leaseback arrangements so they could book the revenue that never seems to appear on the bottom line before they announced that they lack confidence in their existing team so much that they need to appoint ANOTHER Chief of WTF. I'm sure the next "Chief of" they are going to appoint is Chief of Monday and Tuesday. (What did you think WTF stood for? Wednesday, Thursday, Friday of course!)