Xcor has gone down the tunnel. Is the actions of Michael Blum to be blamed?

Xcor has gone down the tunnel. Is the actions of Michael Blum to be blamed?

Xcor has gone down the tunnel. Is the actions of Michael Blum to be blamed?

Michael Blum, a graduate from Yale University, became a talking point in the tech world by starting PayPal Germany. Things took another positive mold by associating himself with Hedgeye Risk Management. Another feather was added to his hat when he was made the CEO of Xcor. He took over the firm at a tough time, but his actions proved to be drastic for the privatized aerospace and spaceflight developing company. A few months after his appointment, the firm went into defunct.

Inefficient Actions And Management

From the time of his appointment, investors and shareholders backed down from investing in the firm. Investors were completely aware of Michael Blum’s inefficient leadership and him taking decisions in haste. Blum was also known to gamble on some instinctive decisions. The firing of old employees who have worked in the firm for some time and the intaking of newbies who don’t know anything about its culture will go down as a massive blunder throughout the business world. With each passing day of his tenure, the firm went deeper into the risks of liquidation.

Conclusion

A crisis demands strong leadership and creative measures to keep the institution at bay. Blum’s measures were far from that, along with his incompetence in forming a proper workforce.

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