| Topic Name: |
PS being Sold?? |
| Message Name: |
Harry was at MSDW |
| Date Posted: |
01/19/2006 |
| In Reply To: |
PwC started a consulting way back.
The accounting side of the business was doing it in the early 90's even before the C&L and PW merger ie they were an unofficial MCS business in the accounting firm.
They have continued to grow this business under various names since the failed acquisition by HP in 99/00.
After the IBM acquisition of the MCS business, PwC have continued to build a consulting business.
After the MCS acquistion, I was at a client where I saw PwC MCS IP (ie this IP and business was purchased by IBM) being presented by a PwC "accountant" Partner acting as a consultant as PwC IP. Only trouble was that the client they were presenting to was an ex PwC MCS partner who had left after the IBM acquisition. This ex PwC partner had authored some of the IP being presented to him!
The funnest thing I have ever seen was the Partner from PwC going very red!
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| Message: |
Harry was the lead guy at MSDW handling the KPMG Consulting spin-off and subsequent IPO. He personally briefed at the Partner meeting where the partners voted to spin-off Consulting and IPO. He was introduced then as the KPMG account rep for MSDW and as one of their top M&A guys. The orignal strike price briefed then that the partners voted on was $55/share. Prior to the IPO, KPMG Consulting went through a reverse split and the new IPO price became $18/share. Our stock jumped into the mid $20's right after the IPO and most smart money, ie MSDW sold. Harry sold the partners a bill of goods then and he's doing the same now. He and the Executive Team will make money, everyone else will be holding imaginary wealth, like worthless options and underwater stock.
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