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rickn23

03/23/17 9:42 AM

#75664 RE: Stocktacular #75662

No one agrees more than I, that the company needs a good business plan. The company also needs a good CEO that can follow the plan (and adapt when the plan isn't working). Benny isn't that person.

Benny has made really stupid business decisions (doing a stock buyback when the company was short on funds immediately comes to mind).

Benny is also arrogant and appears to be stubbornly locked into his positions. A good trait when you are mostly right, a really bad trait when you tend to be mostly wrong. With REDG, Benny has been mostly wrong.

Zwag Box should have been a money maker (20-50% gross profit margins). Money was charged more than a month ahead of time, so little upfront capital was required and customers paid for shipping. REDG/Zwag Box just needed to buy no more than enough to make 10-20% extra boxes to fulfill orders, and ship promptly. It's pretty hard to screw up. Benny found a way (maybe more than one way), though.

Someone else needs to be in charge of REDG.