It's real simple. IMO, these guys are business morons. They were when they took over 3 years ago and they still are today.
They have added zero value to the company, zero. They raided the corporate cookie jar giving so much cash and equity to themselves and you dolts stood around and let it happen. And they loaded up on personnel--to do what God only knows because they had no business. Now, they're finally admitting they have nothing for the employees to do so they're downsizing. I mean can it get any more comical?
The history of this management team is pathetic and an embarrassment and it's why the stock went from $1 when they bought it down to .25 when it should have shot up to about $1.60. They fought their own major shareholders and it just doesn't get any more bottom of the barrel than that.
It's all negative with these losers. They are incompetent. It's depressing to even think about what this management team has squandered in the last 3 years.
And the only couple of posters left here keep talking about Zell coming in and taking over--just another way of praying it's the end for this management team.