Sunday, February 6, 2011

MicroVision: Major Cost Cutting Measures or Death Spiral?

We have known for some time that major cost cutting measures were underway at MicroVision.

Now, it looks like the reality of picop projector market [limitations at this stage] has finally set-in at MicroVision... and the pace of cost cutting may have picked-up momentum; to a point where “fat cutting” may be “slicing the bone” and cause structural damage to the integrity of the company.

The most recent [and visible] casualties of this cost cutting measure, assuming that's what they are...

First, Matt Nichols... Director of Communications and former VP of Marketing at MicroVision (November 2010)
Then, Ben Averch... Global Product Manager (January 2011)
Now, Michael Fritts... Vice President, Sales, Marketing and Business Development (February 2011)

There are no public announcements of Mr. Fritts leaving the company. So far, the only way we are able to conclude that he is no longer with the company; is from his profile being taken down from the “Management Team” at the company web site, as well as, his name that no longer appears as part of the management team in the Media Kit.

Here's some links...

The current management team looks like...

Alexander Tokman: CEO and president
Jeff T. Wilson: CFO
Joe O’Sullivan: Vice president, global operations
Sid Madhavan: Vice president of research and product development
Thomas M. Walker: Vice president general counsel & secretary

No matter how you spin-it, the fact is: it's not an error or an act of omission by any length of imagination that Mr. Fritts' name just got dropped from the “Management Team”. There is no doubt that Mr. Fritts has left the building. However, the big question now is: why there was no formal announcement of his resignation [or termination], and most importantly, why on earth there is no replacement announced by the CEO or BODs at MicroVision?

Regardless of what a company does for business, sooner or later, every single company out there in the real world recognizes the need and value of “Sales, Marketing and Business Development”... and as such, there always is, as a matter of fact, an executive level position for VP Sales, Marketing and Business Development” included in the corporate hierarchy.

This entire episode of missing “VP Sales, Marketing and Business Development” is “bizarre”... to say the least.

What makes MicroVision business model so different that they can get-by without a VP of Sales, Marketing and Business Development?

More importantly, why there is no public announcement of any or all news associated with this bizarre episode of the missing VP of Sales, Marketing and Business Development... not only the missing executive but also the missing position [title] as part of the executive management team?

Here's the question for the CEO and BODs of MicroVision...

“After four years of financial orgy that produced insignificant amount of sales [of anything] but involved dozens of highly paid managers [and support staff] in the PR, IR, Sales, Marketing, Business Development, Administration, Global Product Management, etc... are you now “cutting fat” so deep that it may be “slicing the bone” and cause structural damage to the integrity of the company.”

Investors of MicroVision want to know?

Anant Goel