Rackspace Needs to Find Its Rhythm

Last November, what passes for a freak accident on the information superhighway sideswiped Rackspace(RAX Quote).

A truck -- an actual, real-life truck composed of a serious mass of molecules -- slammed into a utility transformer, depriving Rackspace of power at a crucial data center.

It was Rackspace's misfortune that a truck showed up again -- metaphorically, this time -- to derail its carefully planned IPO. Rackspace had lined up a strong crew of underwriters -- Goldman, Merrill, Credit Suisse -- who helped compile a clear, informative prospectus. Even in this parsimonious IPO market, it was expected to go well. ...