Issue at WGNR is that Placek has always micro-managed. This has tied the hands of those in top management. Keeping Bob as chairman and shaking up the officers insures more of the same to come.

Previous cuts went thru muscle and bone, and this weeks reduction of headcount to less than 50 bids poorly for the ability to produce new products. Troy will cut costs and help things in the short term (maybe), but outlook beyond 6 to 8 months is poor.

Only pleasant part of this week's events is that Sencore (who was waiting in the wings to pick up things cheap at bankruptcy) had their prize swiped out from under them.

Very bear-ish.