Imation?
I looked to see what they even sold these days. Looks like the same idea in a different package that they used to sell. Craptastic proprietary direct attached storage solutions. And LTO tapes. Wow. No wonder they can't make a profit.
Not just Imation's imagination: That sinking feeling is real
Imation has turned in another quarter of revenue decline and losses and a full year of shrinking revenues. Its management is talking about strategic options and unlocking value with a financial advisor – which sometimes means selling off non-performing assets, though we couldn't say it does in this case. Let's get the numbers …
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Tuesday 10th February 2015 20:05 GMT Mark 85
Translations...?
Let's see how this plays:
"unlocking value".. hmm.. the board and C-suiter's want to cash in their stock options and make a clean getaway before the price dumps.
"to review and explore certain strategic options to maximise the value of each business unit".
We'll dump the losers and put a few people we don't like in charge of them. They get to command the sinking ship.
" "enhancing" the independence of each business unit " Yep.. dump them over he side. There's gotta' be some suckers who will buy them.
Seems lately that there's been a lot of stories with these same lines and little, if any substance. Then in a few months, there's a story telling of what they dumped, who got the big bonuses, the end of the line as the high ups bailed for a bigger and better deal. Sad.
Biting the hand that feeds IT
