Have been quietly watching this particular board for over a year now and am fascinated with the comments of late on this company.
I have had concerns for some time that this company is not all its cracked up to be.
What I have validated is the turnover problem and the lack of organic growth. It appears to be less turnover than firing. I also have reason to believe the comments about personalities are correct as well. They tend to control dialogues rather than engage in them.
They want to be sold or go public but it appears they are far from that stage and we don't believe they are close to being ready for an investor line-up at any multiple. Though the CEO spreads the word differently and has never even spent a NY minute on WS.
Have also picked up on the lack of an FS verticle and am concerned. They dumped the Philly guy then dumped the second team in under a year.
I tend to be wary of this pattern but value reading further the insights of this board as to why.
Would also like to learn more about morale....any takers?
Message:
The lack of oraganic growth is freely admitted by the company; just visit the website and they list their acquisitions like medals of honor. Anyone with enough cash can purchase anything and in a depressed and compressing IT market things can be had on the cheap. Witness the Plaut deal and the good lord only knows how much or how little they paid for CIMA. The Plaut deal was a fire sale; lipstick on a pig is right
The morale at the company I can only imagine to be terrible. Sniping and in fighting the order of the day people chasing the almighty chargeable hour lest they wind up on the National dole
The simple fact is they are and always will be a body shop; a rent a techie (or strategist)
The Philly megolomania was in fact unceremoniously dumped (interesting..how did you know he was from the city of Brotherly Love ..i wonder)
"Follow the money"...Deep Throat
