Are under pressure to unlock potential the Kink of BlackBerry has failed to achieve.
Sales bodies will cost lots, well so did Cylance and look where that got BlackBerry, declining revenues in a rising market... Jaune Chien is a dud, scared off investment, what is next?
The company is under the gun to make something happen and unfortunately for longer term shareholder it isn't looking well. Jaune Chien hid poor results that have effectively crippled longer term shareholders as he continues to attempt some slight of hand and ridden BlackBerry shareholders like an #ss in a bad porno flick, Me Myself and Iream Sharon Holders, with his flat revenue projections while CRWD rises by 2 and BB by one, BB falles by 2 and CRWD by less. Jaune Chien has crippled BB with his poor leadership and worse public speaking foibles/fibs/F\/CKUPS
Jaune Chien is now paddling for his business life... STAY TUNED!!!
| FITNESS |
| Two Months After Helping Oust Peloton’s Last CEO, Activists Are After the New One |
Even for a company that specializes in causing perspiration, Peloton should know it isn’t a good thing when your executives are constantly sweating out their future.
Two months ago, the fitness company’s previous CEO, company founder John Foley, resigned under pressure from Blackwells Capital, a prominent activist shareholder angry with Peloton’s floundering business. On Wednesday, Blackwells blindsided his replacement with a renewed attack. |
| Spinning Their Wheels |
Peloton, with its state-of-the-art stationary bikes and treadmills, used pandemic lockdowns to double its revenue to $4 billion in the fiscal year ending June 30, 2021. The trick was as simple as selling home exercise equipment to everyone attempting to fend off DoorDash induced love handles.
But then governments rolled back pandemic restrictions, gyms reopened, and Peloton’s sales slumped. In January, Blackwells Capital — which owns about 5% of Peloton shares — published a scathing report accusing the company of being the worst performer on the Nasdaq 300, and called on Foley to resign and for Peloton to put itself up for sale. Two weeks later, Foley made half their dreams come true by stepping down. Foley’s replacement, former Netflix CFO Barry McCarthy, has barely had time to get comfortable in the CEO chair before Blackwells put him on blast: |
| • | | In a public statement, Blackwells said McCarthy has failed to end a dual-class shareholder structure that gives Peloton’s founders control of the company, essentially accusing him of being Foley’s puppet. “Remarkably, shareholders are worse off now than before,” wrote Jason Aintabi, Blackwells’ CIO. | | | • | | Blackwells chided McCarthy for Peloton’s flailing stock price. The company’s market cap is currently $8 billion, down from $50 billion two years ago. Peloton shares are down 33% this year, and 21% since McCarthy took over on February 8. Peloton has also never made an annual profit since going public in 2019. | | |
| Just Do It: Media reports have pointed to Amazon, Apple, and Nike as potentially interested buyers. Blackwells said Wednesday it may sue if Peloton doesn’t open itself up to bids, proving the one thing more exhausting than a spin class is shareholder relations. |