Wave Systems Corp. (fka WAVXQ)

[Bluefang]

Solms--Almost anyone would be better than SKS. Personally, I think the focus of the discussion has wandered off the main track.

The job of the CEO is not to sell, but rather to manage the company.

The problem with SKS is he was a bad manager who blamed his own problems on outside forces. He was also a miserable salesman and he did not inspire confidence when he either talked or wrote.

Solms was not promoted to interim CEO until after Q3 closed, if one can believe the news release.

I am not looking at the financials so much as I am leadership. Almost all of the normal checks and balances atrophied under SKS and his family-first management style.

I look to Solms to put company mgt back on the rails and perhaps to hire a competent sales manager so he can concentrate on the bigger picture.

Solms has so much to repair, to clean out, to institute professional methods and to see a path out of the SKS-failure-chaos regime, towards success. I don't think the bulk of that herculean task can be accomplished in a quarter or two--but let's look at the Q3 CC and see if we hear reality instead of more lies about imminent profitability.

Changing a company's culture, reining in runaway subsidiaries, getting a fix on who is competent and who is not and replacing those not competent--all takes a little time.

Solms' resume looks good to me and I trust New Wave's impressions-- he has personally met the man and liked what he saw. That to me is an extremely positive first sign and cause for some optimism.

Of course the old questions remain--is he some stooge set up to take the fall; is Wave past the fail-safe point of salvageability; can immediate measures result in immediate results; can he restore trust and credibility to a laughingstock company; will shareholders ever share in any largesse?

In about two weeks time, I think we will all get our first impression of how Solms handles himself, how he addresses the pressing issues and where his future vision for Wave is focused.

I say, give the man time to leave his mark. He can not possibly do worse than SKS. Maybe he can do better. SKS had more than a decade to leave his mark. Cleaning up SKS's many messes is not an overnight job.

Already, the share price is beginning to sink under the weight of the accumulated grievances of SKS, the lies he told and perhaps the desertion of many longs who have just now realized the hopes they had were based on deception.

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