Source: Microvision, Inc.
On April 30, 2010, 8:00 am EST
REDMOND, Wash.--(BUSINESS WIRE)--Microvision (NASDAQ:MVIS) announced today that it has rescheduled its conference call to discuss its first quarter 2010 financial and operating results and current business operations from May 3, 2010 to May 10, 2010 at 4:30 p.m. ET / 1:30 p.m. PT.
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Here’s the link…http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20100430005288&newsLang=en
To re-schedule an earnings CC just three days after announcing the original date with an excuse like “to provide us with additional time needed to gather and review information on our business operations” is pretty lame to say the least.
What more could you learn about your business operations that you haven’t in the last 14 years? If it is a delay due to the recently deployed ERP [or accounting] system, then say so and we, the small and institutional investors of Microvision, will understand that and wait. Some of us have been waiting for 10 years already… and 10 more days delay will not hurt so much.
But under the circumstance; what would hurt more is that the speculator, competitors, and unscrupulous stock manipulators will have a field day with MVIS stock… the evidence of which is already in place with a 10% drop since the announced CC delay.
This is not the first time that Microvision management has shown insensitivity [to put it mildly] towards the ways of Wall Street; where speculators, competitors, and the manipulators prowl the street looking for the weak, vulnerable, and the unsuspecting.
Acts like this are financially devastating; to the small, as well as, the institutional investors alike.
I speak here for the small investors [my friends and family] and at least one institutional investor that I’m engaged with.
I certainly would like to see some kind of management response to this post… that is if they publish my post at The Displayground in the first place.
Anant Goel
It’s all about the effective communications or the lack thereof.
ReplyDeleteIn case of Microvision, we have seen how pathetic the external communications have been… like the wordings in Press Releases, flip flops at conference calls and now this lame of an excuse without a simple explanation.
Bad communications is when AT says one thing but means something else… that not only destroys his credibility but also sends mixed messages internally to the middle management. It’s not a wonder that many in middle management have left Microvision after years of service in spite of being so close to the promise land.
Most corporations function in the image of its CEO. When a CEO communicates poorly, verbal communications send mixed messages internally, as well as externally. We have seen what it’s like at the external level. God help me, what I think it is like internally. If internal communications are like any thing we have seen so far, that’s a recipe for corporate micro management leading to macro level paralysis… meaning, everyone sits on their collective asses waiting for clarification.
Hello:
ReplyDeleteExactly my sentiments.
Do you mind if I post this at the YMB and GG for Microvision?
Anant
No.
ReplyDeleteI just wanted you to know.