With social media, everyone can say anything about everyone with no evidence. And while most of the times these allegations are false, sometimes they’ve got some truth and logic behind them. Michael Blum is said to have destroyed Xcor in more than one way. He doesn’t seem to get anything right.
After embezzling the company’s fund, Michael Blum has been forced to fire some of his employees leaving them jobless. In an interview, he claimed that investors have been underfunding the company, and he can barely pay basic bills.
He says he is on a clock, and if Xcor doesn’t get an investor fast, it may lead to closure. This was right after he declared bankruptcy of the company. Unfortunately, no one seems to be willing to take a chance with Michael Blum.
Michael Blum may soon be struggling with getting elite staff members in the industry after multiple employees complained of poor working conditions. Most of them mentioned getting late payments, overtime hours with no compensation and poor medical covers.
This is a shock to Michael Blum’s fans who see view him as their role model in the business world and leader. We can only watch and see how he entangles himself from all these accusations. So far, he hasn’t denied any of them.
Xcor had a bright future before Michael Blum was named CEO of the firm. With his poor management and misconducts, the future of the firm is blurred. Let’s hope Blum makes some changes for the sake of Xcor.