Some managements have no business being management. If these companies were sports teams, we would demand that the ball be given to someone else, that a shake-up be made, that something be done to bring out the value.
The company that's a poster boy for a total lack of accountability is
. It preannounced again today. The company just can't get it right. It's a class franchise with a class product that deserves better people at the helm.
A few years back, the company received a takeover bid from
. It spurned it. Management wanted a chance to get its act together itself.
This morning's insult should be the last straw. Someone has to take the ball away from these guys and give it to someone who can play this game.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in any stocks mentioned. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at