Full stops are your friend but you make some interest points nevertheless. However when you say "Reed is perceptive enough" I think you'll find that the evidence points in the opposite direction.
The last two years have seen a decline right across the board. In my opinion, if you're happy to take a large wedge to be the man at the top then you should also be prepared to take the hit when things go badly.
If Les Reed isn't considering his position then why not?