Actually, I agree with him on that...
They DID do a good job of cash management...
It's just all the other stuff they're screwing up by the numbers that requires them to be focused on selling assets to convert them into cash that is the problem....
But, then, trying to focus the market on "But, look, the cash position is strong"... when that "strength" is a direct reflection of being forced by other, still accelerating, failures into selling off their assets ?
That trend and choice is SO corrosive...
Sheesh...
Might make NOK a very useful screen of market analysts abilities... with some obviously having no capacity beyond simply parroting the managements spin...
I think the half life of the spin will prove short...
I still think there will be a likely convergence between the technicals and the fundamentals that will occur... roughly around the time we're supposed to be getting the even uglier news a quarter from now... when the COST of the "channel stuffing" efforts show up in the numbers... not just as "sales" in the current period...
So, what I'm going to wait to see, first... is a proof that Windows 8 will ship on time... and (assuming, still, that actual consumers find a reason to accept it better than they did the Windows 7 effort) that Nokia will have a reasonable product cycle following its shipping... that doesn't in any way resemble their recent efforts in what we've seen in the near suicidal self inflicted punishment, recently, in the Lumia product launch efforts...
What should I use in trying to handicap those necessarily interwoven factors... necessary for a future success ? First, MSFT shipping Windows 8 "on time"... then, Windows 8 "being accepted by consumers" in a way that Windows 7 was not... and, then... Elop avoiding being Elop... in a way that appears improbable... ???
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