Just heard from a former Clarus exec that he ran into an ex regional sales manager who said that he recently left, having grown utterly frustrated with management. He reported that management is still failing to beef up the sales force sufficiently. Sounds like the old don't-do-Silver-Oak resistence people like DH and other Board members bruited about; i.e. "We can do our own sales." Says SH still trying to take credit for what few transactions others can get into the hopper, a great disincentive for sales to exert themselves. Finally, he states that the management team continues to isolate themselves from the employees and they work as asiduously as ever to keep less than flattering assessments of themselves from filtering up to the Board. SJ still apparently wary of anyone other than close friends attending Board meetings.
What can we hope for to turn this company around? Is anyone in the know about the current remaining sales team's level of confidence re: closing prospective deals?
Would also like to know status of any class action suits against Clarus and names of firms prosecuting any inside-trading allegations.
I have been busy with other things lately. Caught up on the past week's posts and saw that not much has changed for CLRS. The stock is still in the gutter and we still have way too many executives running this company. It is high time for some Jack Welch type approach to running this company. The first major business decisions that Jack Welch did starting in 1981, was to eliminate a bunch of high level executive levels. And it got better from there.
As to your post, I am curious about your statement, " SJ still apparently wary of anyone other than close friends attending Board meetings ". Am I to understand that SJ is barring board members ( and there really are not that many; six as a total I believe ). It would seem to me that if any Board member is being kept out of the business, such an individual could easily line up sufficient shareholders to stop this non-sense.
If you are really saying that he is keeping non-Board members out, I would say that is the way it ought to be.
I'm sorry to have taken so long to respond; I have only intermittent access to the Web for the time being.
SJ has supposedly, in the past, prevented key executives from going before the board with prepared presentations--sales individiuals, M & A personnel, etc. They did all the work then he became the filter, extracting matter that could reflect negatively on his management style. Now that he is, once again, surrounded at the top with his devoted cronies, the Board is assured to be kept from a full awareness of how disenchanted are many employees and shareholders.
I heard a rumor this week that, in the near future, two ex-employees (high-ranking) hope to bring a shareholder suit against some of Clarus's more, shall we say, "inside" track type execs. These potential litigants seem to know a great deal about how some of the more controversial decisions were made right around the time that the stock plummeted. I don't know if any of their more shocking claims are valid, or if they will act. But they sounded serious, and I'll keep you posted if I get more details.
If Clarus were forced to cash out now, we would at least get $8.00/share.
Have a great holiday, and be gleeful that we can think about other more delectable turkeys-- for a few days at least!