| Topic Name: |
Reuters' lost opp cost millions |
| Message Name: |
What the hell??? |
| Date Posted: |
02/15/2006 |
| In Reply To: |
Not So Anymore
That was the old days. Since moving on to become mayor, the company has become bigger and slower to make effective decisions that are time critical to remain on the cutting edge.
As smaller competitors encroach on segments of market share, taking bites out of Bloomberg's business, it struggles to justify being the most expensive cost provider in the arena.
"It's worth it," said one Bloomberg salesman. "Bloomberg offers value that no one else rivals. Analytics, ease of use, comprehensive and complete data. Buy two. It's cheaper!"
"Not so," say some clients. Bloomberg's award winning news has had some embarrasingly slow moments, such as when it notoriously missed, by at least a minute, the breaking news on the yuan revaluation.
"The analytics are still way behind some models you can get in the market and the charting has improved from horrible to terrible."
"The data can be imcomplete, with inexplicable glitches in the downloads. The helpdesk is helpless to address the problems.."
"It's frustrating.." said one client. "I am trying to run a business but my data is questionable. What am I paying for?"
Some Bloomberg reps are frustrated as well. Service standards were noticeably lower when a groups recently resigend en masse from their help desk and sales departments.
"People are unhappy, and management is just not listening."
"It's peculiar that a company who claims to care so much for its people and inspired such a loyal, workaholic culture is now experiencing a malaise. Their management does not know how to inspire people to get the best out of them.
"They can only threaten and micromanage until the employee is too stressed out and quits. It translates into huge costs for attracting good people, and then training them. Such a high attrition rate for a system that takes a long time to get used to, and so many markets to cover..they have to rethink their approach."
Bloomberg's culture was once its greatest hallmark.
"They were like a cult. They worked together, they partied together. Heck - a heap of them are married to each other."
"That is what happens when you have no life," an ex-Bloomberg employee remarked. "You were so devoted and inspired and loyal to this company that you never thought you would leave. You worked incredibly hard and there was a sense of purpose and fulfillment. Now.. I can't really say it is the same place."
With all these woes - unhappy employees, disoriented managers, a revised culture.. you would think the competition would take notice.
"No yet," said one sales manager. "We are still ahead and will remain ahead. The business model works. The Bloomberg sells itself. You don't need to know anything about the financial markets to sell the thing. You just have to be a good sales person."
A Bloomberg spokesperson refused to comment.
The article above is purely fictional at this point.
However, it cannot without complete certainty be said that the comments, places and events haven't already been said in the recent past and won't happen to be said in the not too distant future.
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| Message: |
Did you write that yourself. I dont know where to start........
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