Intuit

Intuit dropped over 8% today. Look for a stock price the low 20's soon.

Intuit has announced dipping sales of the desktop versions of its tax software, raising concerns rival H & R Block is gaining market share. Intuit (nasdaq: INTU - news - people ) shares were down $2.40, or 8.0%, to $27.60 on Thursday after the company announced fiscal year-to-date sales of its consumer tax product and services. Intuit's fiscal calendar ends July 31. The company said it sold approximately 6.0 million copies of its federal TurboTax desktop software, compared with 6.2 million for the year-ago period.

They're losing market share to H&R Block. Do you know how bad you have to suck to lose market share to H&R Block? Pretty darn bad.

Intuit just laid off a bunch of long-time employees, but that didn't solve their real problem, which is bad management. For example, CEO Steve Bennett arrived in January 2000, and the stock price is actually lower today than it was then (yes, adjusted for splits)! How bad is that? I wonder how many millions have been sucked out of the company since 2000 by top managment while shareholders and employees, um, treaded water at best. Hey, they outperformed Enron, that's got to be worth something!

Intuit management is adept at turning cash cows into black holes. Of course, the top execs do just fine thank you, and not just on their ample salaries. Check out their insider stock sales.