> I'd love to know what qualifies you to throw a word like incompetence around here.

I'm not sure what other word you could use. Total stuff maybe?

> So given the choice of taking a cash hit (a potentially short term affair), or a reputation hit (a much longer term and most likely fatal affair), it's entirely possible Knight knowingly made the right decision.

Except thanks to their competence they have taken a massive cash hit and their reputation lies in tatters.

I suspect the damage to their reputation is so bad they will be lucky to survive.