Amazing Decline in the Last 15 Months
Pros
The concept and execution that FRB had for 3 decades was amazing, positioned well to take advantage of the last decade to capitalize on incredible growth.
Cons
Take a look at the stock price, this is not Jim Herbert’s FRB. Following a legend is a difficult task and Mike is trying hard, but he’s more of a John Sculley than a Tim Cook. He’s not comfortable in this environment, he doesn’t have any vision of his own, and at the moment he’s just cutting everything and running scared, just trying to hold on. Behind Mike is a c-level c-suite. It’s a collection of people who couldn’t succeed in other roles, were admins promoted to executives, or just have a pedigree and think that they’ve struggled to get where they are. Top sales team is aging quickly and changes to operations this past year have been devastating to morale and will soon damage our service. A good executive team would recognize this, but this one is doubling down, asking for more from the same people they wouldn’t trust to work from home.
