>>There should be some response from the Company
it appears this entire fiasco substantially falls on Resnick's shoulders...Q1 losses are attributable to management acknowledging in their conference call that they were blind-sided by significant returns from certain major(s)...in addition to 'failing to close significant orders'...'pending orders were either delayed or canceled'...did Aanderud take the hit for Resnick? The Formula 1 fiasco is directly attributable to Resnick per all our coverage since late 1997. Our take is that Koski blew it with his conversation with eagle and the [legal] implications are simply quite serious, however, Koski's handle on the [return] situation should have been gained from Resnick as Vice President of Marketing. No question. No excuses(.)...blindsided by returns; poor poor Millennium packaging, launch, and marketing, in general, also as cited on this thread since Q3 '97; no f-f wheel; Formula 1 (bigger than NASCAR?) was blown (since corrected per Aanderud in conference call);...all said problems stem from marketing...
The response from TMSR, at this point, in order to avoid a giant shareholder fiasco, is to immediately announce Koski and Resnick's resignation with the simultaneous announcement of his replacement...and one with considerably more substantive credentials..in addition to the Board announcing Aanderud assuming the role of Chairman and COO with a pending announcement of a new CEO...this simply has to happen post haste and Aanderud, the Board, and TMSR will simply escape a bloodbath and with our (and the majority of TMSRs shareholders?) blessings and encouragement...it's achingly, glaringly? obvious what must be done...and this stock could/should be back to the $13-$15 range in the short-term...[but more importantly, TMSR will be in a superior position to maximize shareholder value]...otherwise it simply will not and we will be reporting that also and Wedbush will contemporaneously be issuing a STRONG SELL?...
...In the meantime...CompUSA (NYSE:CPU) is launching a major end-aisle promotion of (NYSE:CD) NASCAR Racing 2, NASCAR Expansion pack and the ThrustMaster NASCAR Pro Steering Wheel starting this weekend...the ThrustMaster Flight System has still not made it to the shelves from its storage holding pattern... |
