Honestly I don't think he is. I think if I could speculate right now that he is a deer in the headlights. I think he is a very nervous guy who is in right up to his eyebrows in credibility fear. I think he understands his personal safety net that ensures his job and his perks and some of his "ahhhmmm" key people. He has the R/S option and for that he knows he can go... whew!. But his bigger issue is how does he tell you and the shareholder about this friendly financing discussions..how does he tell the current shareholders about the options he had to take...how does he look those friends (maybe) he established working and communication relationships with that this is how we move forward...how does he explain what happens to those shareholders as he moves forward? So I think Eric has a heavy burden and I think he may have a conscience that makes these questions very difficult for him to deal with.
As I see it, he is and has been in over his capabilities to perform what shareholders expect from any CEO. He has been good at all the minor things around the edges of WNBD. He was transparent by blogging..(IMO to a fault) by communicating and being available to anyone. He has made inroads into Big box stores , making his demo boys available to the retailer for help. But he has failed on all the fundamentals. Very very poor use of cash management to employ good marketing/ brand building plans. He failed on identifying with the consumer. He put that on the retailer and the isle demos. The consumer was left out in the cold The sales are proof of that. Big Box stores don't sell or teach..they put things on the shelf and use branding to do 99% of the talking. That being thru adv that reaches out to the consumer. He has spent lots of money on things that should not have been his priorities to include his own salary. He didn't pause after 2-3-4-5 years to stop what wasn't working and retool. He kept on with a imo a broken business model. By measuring his accomplishments against his business plan there just isn't any better measure. Everything reflects that execution...the charts, financials, dilution...he had the time, money and resources and most likely great people to do this...it just didn't get done in 7 years. That is a loooong time and cash burn is unforgiving and its a known fact from day 1 when you put on the CEO crown. No...Eric isn't laughing. I think he is revisiting a new beginning under circumstances that allows the company to live another day.
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