Hibs boss Colin Calderwood is stunned by Newcastle United's decision to sack manager Chris Hughton.
Calderwood, who had worked as Hughton's assistant until taking charge at Hibernian in October, branded the dismissal "stupid".
"What we had was a terrific team spirit and there was a unique chance for a football club to balance the books to a certain degree and move forward with a bit of stability and I think they can't be forgiven for losing that chance," Calderwood said on BBC Radio Five Live.
"The foundation of the club could have been so much more secure, with a family environment and everyone trying to pull in the right direction if they had stuck with Chris."
Asked what it was like to work under Ashley, Calderwood answered cryptically: "I think you've got a fair understanding of where you stand, but it changes quite dramatically."
