Garbage report. There's no way a good manager or successful businessman would give that kind of ultimatum in those words. It is something a fan would imagine would happen, but isn't realistic in well-run organization. People who zero management experience, or have no understanding of leadership or motivational theory think this might be a great way to handle things (ie. some silly fans on a message board) but it just isn't reality, nor is it effective. It is proven, actually, that negative leadership always fails long term. Period.
One does NOT manage by threats and fear. Only idiots do. I don't think the Pegulas are idiots. Therefore, they wouldn't manage with threats and fear. Long-term successful organizations don't threaten their employees to get then to perform. The knowledge that you won't have a job if you aren't successful is inherent, and doesn't need to be displayed like a baboon's distended red anus.
And at the same time, Whaley gets an extension? While being threatened? It doesn't add up.