Shaheen Blames Wall Street, Wants To Save Parapalegics
from the saving-the-world-for-mothers-and-parapalegics dept
In his first comments since stepping down as high profile CEO of Webvan, George Shaheen blamed Wall Street for the company’s problems. There’s a great sympathy generating quote about how people come up to him all the time and tell him “Mr. Shaheen, I’m a mother or I’m a paraplegic and you can’t let this company go down. I’ve gotten my independence back.” Helping mothers and parapalegics is certainly a good cause, but if you’re going to run a public, for-profit company, then you certainly need to figure out a way to make a profit off of all those newly independent mothers and parapalegics (or whoever else will pay you money for your service). Webvan is certainly a great service for many people – but if it’s not making money then it’s certainly not Wall Street’s fault it’s going out of business.
