RE:RE:RE:Repeated mistakes are not "mistakes"Erickson's downfall was because of character and culture of management and the company. CEO"s decision to do it remotely was a symptom of that. Thera's horrible deal was a reflection of their character and culture. I'm sure they knew how this would go over with existing shareholders, but they didn't care.
scarlet1967 wrote: Here we go with one of my stories, back in the day I was invested both in Nokia and Ericsson both at the time mostly in the business of making cellphones and both initially had similar market share in the industry.
Both companies had a major manufacturing problem in one of their sites, the CEO of Nokia flew on the same day and managed to rectify the issue within 24 hours but the CEO of the Ericsson decided to deal with the issue remotely as a result the site experienced major setback for a couple weeks. Nokia in the next couple years became one of the biggest cell phone maker in the world while Ericsson eventually gave up the hardware side of business and moved on to the software side with less demand and revenues at that time.
Point is being proactive is a must for successful companies, the company surely knew the market reaction to the deal will be negative so they should line up few strategic measures as a damage control and having your IP down for more than a week is not one of them.