I would not rule out trading Corel but not based on comments from the ring leader. First it was Java, then it was the Network Computer and now it's Linux. What people fail to realize is that Cowpland is just jumping on bandwagons, allocating resources and falling flat on his face because of poor process, a lack of structure and poor planning. The bandwagons continue to roll on, without Corel. He's been fueling on these failed efforts with sales of some legacy software that has been essentially complete for ten years.
Corel was not even responsible for maintenance on the Office Suite until they closed down the Utah facility. Remember that? He announced that the company needed its talent for upcoming growth and would not be laying anybody off. He had a typically irresponsible policy of not laying people off: thus jeopardizing the jobs of everyone, including his own, and putting shareholders in peril.
When his job really was on the line, he shut down the entire Utah operation, that is what we are dealing with here. You know what his excuse was? That they essentially had to lie until the transition plan was in place. That is, he publicly demonstrated that he'll lie when it suites him. How would a competent CEO handle this? When asked about layoffs they would state that "The company is continually looking for ways to streamline operations and increase focus for the health of the company and the overall health of our employees. From time to time, that can include personel reductions. Periodic layoffs aren't a bad thing and there's never been a better time to move forward for an employee who has been trimmed than now.
So the point is, you can't trust a word he says and you can't trust his judgement. He's demonstrated that he doesn't have a junior level manager's skills in terms of running the company. He simply owns lots of stock and has managed to milk a product or two that was fortunate enough to be in the game very early and establish a client base. |
