cpa: Of course SKS deserves the blame...
for whatever balls have been fumbled. There is no question that he was not even remotely qualified for his position when he inherited it. There is such a long list of bonehead decisions that Wavoids are willing to forgive that one must conclude the folks here are either (1) of the school that technology conquers all (the corollary being management doesn't matter); or (2) blinded by what they perceive to be imminent riches (despite the fact that imminence has been touted for about four years running now); or (3) have something monetary to gain (as in contract work) by supporting current management. (I believe there are numerous folks here that fall in category 3, by the way.)
A short list of management blunders:
1. The "stock's going back to 50" remark.
2. The Isophere insanity.
3. The Winkler fleecing.
4. Product "launches" that never see the light of day (i.e., Envoy)
5. The contract with the tin-foil-hatted guy (Booth).
These constitute ample demonstration of the incompetence, yes, the absolute ineptitude of this CEO.
Unless the people who work at Wave are complete fools, (and I don't believe for a minute they are), they must witness this cold reality on an almost daily basis. In fact, I would guess Steven's ineptitude has just about reached legendary proportions by now, a history populated with numerous small-scale examples that none of us will ever hear about.
And how does upper management deal with the Nepotism issue that unquestionably diminishes this company's market value? They appoint another Sprague as CEO of WaveXpress! Too brilliant! An insanely selfish, totally family-centric move that to normal shareholders would represent one giant middle-finger gesture. However, these folks know they have the Wavoids behind them and that they could appoint Peter's 12-year-old grandson the next CEO and receive kudos all around for it.
No. If Wave succeeds--and I believe that is still a gigantic if--it will be in spite of Steven Sprague (and God knows what-all other family members) and not because of them.
Just my opinion, of course. There is some probability of error. (Not a high one, though.)
Good luck, folks!
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