Thanks, this is exactly what I had in mind when I replied months ago. It is my opionin that it appears that this is the play - do what it takes to take this company private. There have been quarters that the SOX burdens on this company were the difference between running in the red and in the black. It's a significant burden on the performance of a now smaller leaner operation. And just to answer Brucie before hand, yes, there were mis-steps and missed opportunites. It seems lately they are making more of the right choices and have at least a shot to come back. Honestly, for me it's hat's off to Pankaj and crew keeping the doors open at all in this horrible biz environment.
All that said, am I putting my money on PROX.PK stock? Nope, but in fairness I'm not putting my $$$ in any tech company at all right now.
So, what you’re saying is that everything I said a year ago was coming true. Pankaj has now reduced the company down to the point where even he can almost run it. He’s lost his CFO, COO VP of Sales (I warned him about that one), his top US RSM for the last quarter (to Alvarion). He has made a number of the changes I said needed to be made, but, he made them so slowly it’s cost the shareholders any really hope. His problem is: he still wants to be everyone’s friend and the “old guard” have him wrapped around their finger.
Now, he’s “taking it dark” well, what else can he do? Proxim has been “dark” in the channel for quite some time now. One look at what remains of Proxim’s channel and you’ll find a number of new wireless players have been moved in to fill the gap. I was just at a Motorola product class where Proxim wasn’t even considered a player. Most of the VARs attending the class said they didn’t think Proxim would be around long enough to support their products and that there were better products available. One of Proxim’s former major accounts was there touting how much better the Motorola product was. Not once did Proxim come up in any of the lunchtime conversations: Aruba, Alvarion, Airaya, Bridgewave………just about everyone, but, not Proxim.
No, he’s not made many of the right choices and even the ones he has got right took so long to make it hurt Proxim. Pankaj is like a dear in the headlights and he’s getting run over because he tends to just stand there; not sure what to do.