Agreed. I have no problem with deals falling apart. It happens to the best businesspeople in the world. I have a major problem when excuses are thrown around willy nilly and there's a lack of accountability. Notice how every deal that falls apart, every delay, everything that causes the stock price to drop -- Parsi always tries to shift the blame to someone else.
Even when he tries to take responsibility, like when he was forced to acknowledge the negative impact of toxic financing, he did so in a way that made it look like the toxic lenders were the bad guys. Hey, nobody put a gun to Parsi's head and forced him to take the money. It would have been a lot more sincere if he just straight up said, "Sometimes businesses must make long term sacrifices to stay afloat in the short-term, and while it was regrettable that we had to take expensive money, it was the only option short of closing up shop." Investors, myself included, would have a lot more respect for someone who tells it like it is.
It wasn't Ramadan that made the Bahrain deal fall apart. It was that the LOI wasn't binding so there was no reason not to make an agreement in principle with Giggles. I promise if Parsi had demanded a $50k break-up fee, the other party wouldn't have signed and he wouldn't have wasted so much time chasing a rabbit down an unknown hole.
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