The arrogance of this CEO is unfathomable. Disappears during crisis and much to late throws money at the problem in hopes that it "goes away". I'll be purchasing puts on rises as the many lawsuits from Concordia haven't even been factored in and they will be substantial. Now they have a major problem with Senator Rockefeller as well, sounds like a shorters heaven to me.
After being part of the American retail landscape for more than 90 years, the iconic RadioShack (NYSE:RSH) brand is today struggling to survive. The landscape of the consumerelectronics retail industryhas changed rapidly in a matter of few years with the entry of online players like Amazon. The traditional brick-and-mortar retailers are gasping for breath and those without ample resources face the threat of extinction.
RadioShack has failed to put in place a comprehensive and definite strategy to deal with market challenges. After keeping the CEO seat vacant for a long time, it finally got itself one in the form ofJoseph Magnacca, who was previously an Executive Vice President at Walgreen, a drugstore chain.The choice seems surprising given that Magnacca has no previous experience in the consumer electronics industry and has been working in the drugstore industry for over a decade.
The company doesn’t seem to have enough firepower on its balance sheet to make any aggressive moves in the market to challenge bigger and better equipped rivals. Put simply, the business model looks outdated and there seems to be no growth catalyst in place to inspire confidence among investors