hi nxt,
that was my point. the sales folks aren't the source of the problem. the source is the ceo who gambles even when he needn't.
the presumption of demand was a crazy decision. but it was made much worse by not preparing for the possibility of error. he clearly took the decision to expand rapidly at least by q2 of 2011. this was commented upon at the time. he had months in which to finance the expansion during this period when the price was substantially higher. the fact he is trying to cover his tracks by suggesting it all occurred in q4, 11 tells you he knows the scale of the error and he doesn't want it to be recognised by investors.
fortunately, he has the enforcement crew to support him. but for me, this was a mistake of such magnitude that i can hardly believe the board let it slide.
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