Pacific Crest Securities analyst Evan Wilson took at the "accomplishments" Take2's upper management, under the lead of CEO Strauss Zelnick, has achieved and the verdict is bad.

When Zelnick and his boys took over during an investor coup in March 2007, the idea was to lower the company's cost structure, make 2K Games profitable, sell off non-core business divisions, release more games on time and on budget, and resolve the plentitude of legal issues that just kept coming during the old management's time.
Wilson checked out what they've accomplished up till now and although Zelnick talks about Take2 being the most efficient business in the industry, Wilson has another view.

Expenses: they were supposed to remain under control. However, they've risen by 23% compared to last year. Meanwhile, sales and marketing expenses added with general and administrative expenses are taking up more than 20 percent of the company's revenue this year.

2K Games: was supposed to become profitable and up until yesterday they kept repeating that story. Until yesterday that is... Guess they'll have to wait a little longer before earning money from sports titles, if at all.

On-time releases: since Zelnick and his guys came on board, Grand Theft Auto IV, Mafia II, Civilization Revolutions, Manhunt 2, LA: Noire, Borderlands, Midnight Club: Los Angeles, and more have all seen delays.

Legal issues and selling of non-core business: that's about the only thing where Wilson is mildly positive as the amount of lawsuits has dropped, and Zelnick did manage to sell Joytech (peripherals). Still, Take2 hasn't found a buyer for its distribution arm Jack of all Games though.

Wilson closed off by saying that investors should definitely go for EA's bid to take over the company and he doesn't really understand that Zelnick and his management don't want to accept that:

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