Quboid wrote on Mar 26, 2013, 15:02: If they've lost $100M through write-offs and only $30M net loss, doesn't that suggest that they've been operating at a loss for the last few years and have been hiding that, the opposite of what's being suggested here? Perhaps now they've run out of ways to hide the loss so they're taking it off the books in one big hit, and kicking out the guy who has been making losses for years.
Without access to their books and their board, it's pretty much impossible to say. It's not unheard of for the board to ask someone to resign after that person did exactly what the board wanted them to do in the first place. Corporate politics are pretty much just as dirty as government politics. (Especially since a lot of the time they are one in the same...)
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