Awk: you make it binary--accept mgt shennanigans, or get out of the stock. Can't there be constructive criticism of mgt practices? Can we not urge mgt to stop destructive practices? Can we not urge them to see how they have hurt, are hurting our company?
In my mind, while shareholder power is limited, especially in light of the way the voting shares are structured, we do have some power. If mgt. tells us next quarter will be better, that there will be deployment and then if it does not happen, don't we have a right to ask for an explanation? And if one is not given, do we not have additional rights?
Is our only option to take our beating and go home? Can we not politic publicly for reform? Can we not raise our voices in protest?
I think that is our duty, if we still believe in the vision and the technology of Wave--and I do. Unfortunately, the people entrusted to carry out that vision, have either experienced a stunning string of unbelievable bad luck, have encountered marketing problems beyond their expertise, or they simply are incompetent.
Many would argue the two former posits; I argue the last one--incompetence. For if there were good and true explanations for our failure to execute at every turn, I believe we would have heard them. If mgt tried to execute in a particular quarter and was unable, it seems to me explanations are in order--rather than the issuing of more promises for the next quarter. This has been the MO at Wave for as long as I have been in (1996). Specific promises are made, followed by inaction. No explanations. More promises are issued for next quarter or next year.
Something is dreadfully wrong here. It may be stupidity, but it is beginning to have the look and the smell of cupidity. I would love to be proven wrong.
However, the present and the future look an awful lot like the distant and recent past. The old bywords--"have patience" seem to me meaningless, after seven years( for me) of absolutely nothing but promises. For others, the promises go back much further.
Where are the indicators of success? Where are the signs of traction, and not more slippage? Where is the proof mgt has learned its hard lessons? I look and I see none of these and thus, conclude the obvious.
Would sure love to hear a positive counter argument, a rebuttal, using facts rather than the unfulfilled statements and promises of a mgt. team which has not been candid with us since the beginning.
Bluefang
