My sense has been for years that there is neither altruism or magnanimity at play, rather varying degrees of inexperience, 'Founder's Syndrome, fear, control issues, lack of plan or vision. As I said earlier, there were numerous skillset components missing for years.
The current disaster could simply be a continuation of extraordinarily negative name association. The former CEO alienated everyone he dealt with for many years, virtually without exception.
Many times, I have cut the current CEO slack, opining that she too was a victim, of sorts, for many years. She may deny it out of love of a parent, okay, I get that, but my momma didn't raise no fool.
No one, and I mean no one, could budge the former CEO on anything. He actually said to me many times, "I love a good fight", when I argued vehemently that diplomacy would create success. Couldn't shift him, nor could many others. Many were fearful, so they went silent or simply left.
Stubborn and obstreperous traits trump intelligence and wisdom, every time, unless the latter has control, in which case one terminates the former. It was not the case at BIEL for years. Cranky and 'I'm gonna do it my way' won! Really???
Current CEO needs to consider reversing the trend of the former CEO being unable to get out of his own way and ending the BIEL reputation of insults and financial misery.... People never, ever forget the name of those who insulted them... BIEL needs a quick wash and rinse cycle, is my bet. Why not try it? I prefer wealthy, who likes poor? Who likes failing?
So, not her fault. Except, if the theories of some, are correct. Why, why, didn't she step out of the management limelight in 2019 and let others make her wealthy?? Never too late.
The equity value of the founding family's stake is worth <zero. Only a lack of vision and common sense has impeded success for 14 years, that I personally know of. Over 3 years of understandable grieving time is surely over. Time to get Business and get Wealthy. Anything less is self-destructive; who does this to themselves?????
