You'll find that one of the costs that a tech company, with hughe growth, has, is to training it's management. Gary Ellison at ORCL said, "The most expensive lessons are learned when you place a young, unproven, manager at the top of a Billion dollar company." He was talking about himself. ORCL had some real problems, in earlier years.
Management reporting a short fall in earnings this Q, seems very reactive. Management would view this step as proactive. Coming out with a preannouncement, just halfway through this Q, is evidence of that. The fault that you site, is the lack of being proactive. As Alex gains experience, and more talent on his management team, He should get better. But shareholders are paying his education costs. I've seen it before, and I'm sure I'll see it again. |
