How many people really think this thing can't go to zero? Just a short year ago it was at $20. Hell, just a month ago it was at $5. A single investor with big enough cojones could buy control at this point. What a joke the new regime has been. Understandably, the markets are beyond their control, but please identify one good decision they have made since summer 13'.
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Enough talking about layoff. Just Eat, Pray and Love tomorrow.
Millions of dollars into SAP is correct, on a per month approach. That implementation has easily cost north of $100 million over the past 24 months. The entire EDGE initiative was a complete waste of time, capital, and any other resource you would like to mention.
It really doesn't matter what management does as long as prices are low. There is no way to service the debt hence the price will continue to drop. Look at NSLP. They were at abut $30.00 a year ago, today, .04 cents. Until the prices go up there isn't a way out for highly leveraged companies.
Biggest FAIL is SAP. Sinking millions into that when we are broke. Good move!
Well, if the cut 96% of the remaining staff, at least the costs would be in line with the revenues...What do you actually expect them to do? Here are the options: 1) Cut costs to reflect actual revenues (involves massive layoffs no doubt); 2) Go on with not reducing costs below revenues and go bankrupt; 3) sell off the company for whatever you can get. I suppose you could add "Pray for a miracle", but that usually doesn't go over well with stock holders.
Good point, those really worked out well. I suppose if they just cut about 96% of the remaining staff, all problems will be solved.
Layoffs and layoffs