With a critical shareholder meeting just days away and his cash-strapped company on the brink, Blockbuster CEO Jim Keyes remains (at least on the outside) upbeat and bullish on his company’s prospects. Says Keyes:
“The reason I took the job is the same reason why I’m optimistic about the long-term future of Blockbuster . . . The industry is in transition . . . but in change, there is opportunity.”
“We have been under way with the transformation of Blockbuster for about three years . . . These business transformations don’t happen overnight, yet the expectation of consumers and investors is that these processes will be quick.”
“They don’t have enough earnings to cover their interest, so creditors can compel bankruptcy whenever they feel like it.”
Keyes also revealed that his company is considering “revisiting” its agreement with Blockbuster Express kiosk operator NCR. Pachter estimates that Blockbuster is “probably getting only 10 percent” of Blockbuster Express revenue.
What do you think about Keyes’ performance as BB CEO, Insiders? Do you believe any of his “glass is half-full” rhetoric, or is it beginning to wear thin? Let us know what you think in the comments.
(via the Dallas Business Journal)