"Simps, there are accomplished people within the organization, and at least one from without (i.e., acting as a consultant) who are standing idly by and alloying this CEO, by all accounts, destroy the company, IMO. Furthermore, IMO, it would be truly heartening to have at least one of them to reach a moral juncture and show courage by resigning, or otherwise, demonstrate publicly their disapproval of the CEO's actions. There must be an end to this debacle!!"
Good post, great idea Lantern. At least 15 people have made attempts; from within the Whelan family, to his daughter, to consultants and a host of others who know exactly how to fix this. Visits, meetings, correspondence offers, never mind the string of imploded deals all are aware of. This is a cluster.
Liken it to an aging parent, with numerous advancing health issues, who loves driving and thinks he's still sharp, but no longer should be, because he is a menace to others on the road. He is that guy, swerving all over the road. All employees, many tens of millions suffering from acute and chronic pain, just in the US, and all stockholders, including his own family members, are the 'others on the road' who are endangered.
And remember, Whelan started off as an okay, stubborn, tenacious start-up guy who bragged he loved a good fight, but with very limited leadership and management skills. The plusses often remain in the elderly, the minuses....need I say more.
It will do no good to sue their a$$e$ off, we've all been clipped, but most stockholders would probably not be willing to jointly fund that an regulators will take care of them anyway. Besides, there really is little or nothing there.
The patents are close to running out. Other devices can easily be created. We are totally confident we could get a 510(K) approved and a new product cleared very, very quickly. There are no deals - zero deals. The whole of the EU, Braun, online sales, the US, Q1 Sales $141k and heading south? C'mon, that's 5 to 7,000 ActiPatches globally in 3 months! It should be 5,000 a day, not 50!
The only thing BIEL has is potential for a turnaround, but the Bungler Whelan is so convinced of his own intelligence and successes and the stupidity of all others, that he can't see the potential is rotating in a flushed toilet heading south to the sewers. Want proof? Visit BIEL, ask the questions, push Whelan for answers, there is nothing there without new funds and the skilled turnaround team we have on standby.
You most often cannot rationalize the irrational or help those who won't help themselves, but if you can get on a plane or into your car, and tell him he's blowing his family legacy and millions invested by stockholders, who knows what the cataclysmic trigger will be? Creditors, SEC, lenders? Who knows?
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