I can't let this one go.
"I will just add to that, the world changed drastically in 2008. This is NOT AT ALL the same world that it was before then. Looking at business decisions make prior to 2008 in light of the new world we now inhabit is not realistic."
When I first saw the Crossflo deal I pretty much knew it was doomed.
Why? Because I was responsible for over 2TB of data accessed daily, directly or indirectly, by over 25.000 users. This data was refreshed either near-real-time, intra-day and/or at night. Over 60 complex data extraction, transformation and load jobs ran and had to be completed by 5am Pacific in time for east coast opening. 24x7.
It was clear to me that none of the BOD members would have a clue about a product such as Crossflo. My only real questions were (a) on which golf course did this deal get done? and (b) who was related to who and how? It wasn't worth asking questions, because the standard reply would have been used "The decision was in the best interests of the PTSC shareholders."
The financial meltdown had nothing to do with this. It was akin to a train conductor conducting the Philharmonic. At least Gloria apparently had the necessary to admit that the BOD didn't know what they were doing.
