Changing of the Guard Reflects World Change --Michelson

Aside from the Quadracci tragedy, these management changes, and undoubtedly many others not mentioned above, may signify a proverbial changing of the guard. Once-industry darlings are no longer recognized for their business acumen. Old-timers, many with ink in their veins, are replaced by MBAs and financial types who operate based on what they learned in business school and on Wall Street, not through conventional wisdom and gut feelings gleaned from decades of industry experience. Reading balance sheets replaces the ability to read the minds of customers. Considering whether or not to exercise stock options replaces considering the future of a loyal work force. Finding shortcuts to generate immediate savings replaces following the road map plotted as a result of long-term, strategic planning.