After beating New Jersey in overtime on Feb. 15, the Thrashers were tied for first place in the Southeast division. They haven't won since.

Now, their season is all but over after Wednesday's loss to Carolina ended any realistic hopes of making the playoffs. Mathematically, they're still alive, but that's about it.

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'Right now, there are times I don't feel like the players respect each other enough,' head coach and general manager Don Waddell said. Waddell took over coaching duties seven games into the season, after he dismissed Bob Hartley.

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So why the collapse? If only it were one thing.

1. Accountability: It's a word that is starting to creep more and more into the discussions around the team — as in there isn't enough accountability. Bob Hartley was held accountable for his 0-6 start when he was fired. Now, the Thrashers haven't won in eight games at the most crucial point in the season, and nobody's job currently seems threatened. But even more than that, there is a lack of accountability amongst the players in the dressing room.

"Right now, there are times I don't feel like the players respect each other enough," head coach and general manager Don Waddell said.

Captain Bobby Holik said each player needs to hold himself accountable, and that's not happening.

"No, and it's no secret," Holik said. "Absolutely not."

2. Small contributions from big money: Ideally, your highest paid players would also be your best players. That hasn't been the case with the Thrashers. After Ilya Kovalchuk, their three highest-paid players this season — Holik ($4.25 million), Alexei Zhitnik ($3.5 million) and Slava Kozlov ($3.3 million) have been three of the Thrashers biggest disappointments. Holik's game improved as the Thrashers climbed the standings, but as they move out of contention, his effectiveness has declined. He could have been traded at the deadline, even if he didn't fetch a first-rounder. Zhitnik, advertised as a puck-moving defenseman who can quarterback the power play, has struggled moving the puck and doesn't play on the power play. Slava Kozlov's lack of offense and apparent lack of interest is puzzling. His contributions have come in small doses and he is on pace for half of the 80 points he scored in his contract year last season. But Waddell said he has no buyer's remorse about signing Kozlov to a three-year deal over the summer.

"He's going to be a part of our team going forward," Waddell said. "We have to figure out how to get the best out of him."

3. Where's the core? A group of players who have gone through the battles together are more willing to pick up the intensity as games get tougher late in the season. That's not happening with the Thrashers, partially because of the constant roster turnover year to year. Of the 23 players on the roster, only three have been here four seasons or more. And of the 23, only six were drafted by the Thrashers.

"I know nobody wants to hear it, but we're still a young franchise," Waddell said.

Not a good day to use that defense. The Thrashers face a Minnesota team Friday that started play in the NHL one year after the Thrashers. Yet the Wild have developed a strong core of young drafted players, many of whom signed contract extensions this season. Those homegrown players have led the Wild to the top of the Northwest division.

4. Defense, or lack thereof: Only Los Angeles has given up more goals than the Thrashers. Opponents typically spend most of the game in the Thrashers zone wearing down an already suspect defense. Place some of the blame on the inability of the Thrashers forwards to maintain any offensive pressure. However, the blueline has consistently been outmanned all season. The Thrashers have outshot an opponent only twice in the second half of the season and not since Jan. 20. Expanded playing time has exposed Garnet Exelby's deficiencies as a puck-handler and Steve McCarthy is a minus-24, the worst among NHL defensemen. Five of the Thrashers top six defensemen are under contract for next season, making a massive re-tooling a challenge.

"When things are going badly, frustration gets higher and guys try to do too much to make a difference. And that, in the end, makes it worse," Exelby said. "I think I fall into that category."