We were delayed previously by about a year, and now by a few extra months. About the time Mr. McNally announced Titan's first delay under his watch, Medtronic also announced a delay, with an estimate of about a year delay. Now it's a year later, and MDT showed off their system and said it's still another two years away. So from the time of Titan's first delay announcement, we're out an extra 18 months, but Medtronic is out by an extra three years!
What, in this industry, is more stable and normal than Medtronic? Not much.
So Titan's delay is only half of Medtronic's cumulative delay since that same point in time. Congratulations to Titan are in order for cutting the industry standard slippage in half!
I wonder if MDT's message board is full of daily thrashings for their schedule slip. I doubt it. MDT investors probably griped for a day or two and then accepted that it is a normal part of doing business in this industry, like big boys and girls might tend to do in a forum of mature contributors.
All just my opinion again, of course.
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They have frozen it and what I see is regular type milestones as most companies have. I don't believe that any delay in achieving milestones is about lying. That is the best optimistic estimate. Those that have to to do the work and deliver could not do it on time because there was a glitch or blah blah. It happens all the time.
That is why a lot of contracts are delayed. Things fail to be finished on time all the time and that is why there are penalty clauses in some contracts. You know what, companies avoid contracts with penalties all the time too.
Here in my neck of the woods, even paving roads get delayed!
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