Seems to me they need a turnaround expert. Or is it just a matter of making the captain sink with his ship? Either way, he probably has another job lined up when this one is gone.
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I can't believe how narrow minded I was. These additional hypotheses should definitely be added to the list of possibilities.
He has so much stock if he leaves he will dump it and cause the stock price to go from .21 to .10 in a day.
Or at a 'conference' in Vegas - penthouse suites with penthouse models!
Perhaps Jack has pictures of the board members in compromising positions farm animals......
The only possibilities that I can think of are 1) The board is stacked with his friends who want to support him no matter what, 2)The board couldn't imagine any possible way to improve CCi so they let him stay even when things started looking bad, 3) He negotiated such a golden parachute that keeping him on board appeared to be less risky than replacing him, or 4) The board is so disinterested that they didn't really know what was happening until it was too late. However, I agree with 24206 and 24202 that it's too late now.
I think as a symbolic gesture (and maybe as a big money saver) they should oust him. If any of the predatory recruiting practices are true (I am a instructor, so I know many students are not literate enough to be on college), they ought to give him the boot.
While I agree that Jack has performed very poorly, replacing him now would be like replacing the captain of the Titanic - after it hit the iceberg. Might have workd a year ago.......
The ship will not be repaired. No reason to turnaround something that the DOE has no intention of letting get fixed.