Imagine if Michael Lasky , the former racing handicapper who ran Inphomation into the ground , had seen two years ago that margins were going to decline , that in the absence of any professional requirements more and more psychics would be entering the market , that the time for infomercials had passed , and that the Psychic Friends brand name had hit its peak .
Michael Lasky ran Inphomation brand into the ground because he did not predict the decline of profit margins .