I would agree - look at alexa and you'll see at 10-30% drop on all Monster sites, careerbuilder, dice, etc. Except for indeed it's up.
So the last restructure was really about writing off Sal and Lise's big payout?
It's the leadership and management - they are just clueless with the hope that things will improve.
For example revenue is down $32M per quarter yet they have added people. You added people and yet revenue went down 15% - this is the titanic and the leadership including the board has got to go.
Quarter and people on the payroll and revenue
Q2 15 - 3894 - 180M
Q1 15 - 3885 - 184M
Q4 14 - 4091 - 186M
Q3 14 - 4067 - 191M
Q2 14 - 4078 - 194M
Q1 14 - 4068 - 198M
Q4 13 - 3998 - 199M
Q3 13 - 3948 - 197M
Q2 13 - 3905 - 200M
Q1 13 - 3852 - 212M
The bury the loss this quarter with the Korea purchase and they do yet ANOTHER restructure in Q4 of this year and RESET expectations for next year. They are more likely to do $170M in revenue in Q2/16 than they are $205 to $210 as stated by the current management team. By the way they are the largest single shareholders cough cough. Also the management team said they would be disappointed.....disappointed really.... if the numbers didn't exceed that ($210M in rev Q2/16.)
Time for a revolution or their will be no Monster it will just be a tail tell the parents about bad investing it will be a Monster to scare investors.
Anybody start that wiki page on Sal, Lise, Tim and Mark? Anybody?
I would agree that Indeed had more to do with Monster going down than Linkedin. The market did split in two and instead of pursuing Linkedin Monster chose to fight with Indeed and lost.
I'm not sure how they came up with their game changing strategy. You have jobs go from 1M+ to 250K and then you decide to give away 60 job postings for free for everyone you charge for to get to 15M jobs posted.
It only makes sense when you think about it from the who benefits perspective. In the end business people make decisions in their own best interest, a good board and governance structure will align that with what's good for the business as well but in Monsters case that didn't happen.
The management team gave themselves a bunch of RSU's and stock that was continuing to go down in value and they had no exit in site. They develop a plan that is going to kill the company and get them fired (retired) so they can exit and take their money, If it goes badly and becomes successful then they would be able to exit because of the high stock price so even if they failed they won. Tim and Mark are doing the same thing, they never fail to mention that they are the largest single stock holders so why wouldn't their interest be aligned with the business. Nice deflection.
This thing is going to be short for a long time so I'm out for now but I might return if the convert is in play again.
It was fun and profitable.
Indeed is the real story, they did to Monster, Careerbuilder, and HotJobs what those companies did to the newspaper industry. Monster sold postings at 1/10th the cost of what the newspapers did and that's what Indeed did. When Sal used to say that pricing was holding he was talking about HotJobs and Careerbuilder not Indeed. That's why they have 1/4th the jobs on the site and 1/4th the revenue they had at the peak - 1.4B to 350M give or take. The rest is new products and government but in the end it wasn't enough and now the bell is starting to ring, the vultures are circling and we are another year and another 10% down in revenue.
Linkedin 8,735 employees and 712M in revenue with 33% growth YoY or $81,511 in rev for the quarter per employee.
Monster 3,894 with 180.4M in rev and 7% NEGATIVE growth rate or $46,327 in rev for the quarter per employee.
It's people like Get a life that kill this company - instead of getting rid of all the people they waste their time reading this message board.
Based on those numbers Monster should have real managers that are managing about 1,500 employees or 2,500 less - what do those people do all day - complain about the posters on this board I guess because they aren't making good products and they aren't selling or servicing anything. You could argue that good managers would have about 1,000 people since the growth rate is negative.
Why are you losing because the market split in two and you missed it. On the low end is Indeed with $25 posts which you are competing against with $200 posts. On the high end Linkedin which you won't even acknowledge is a competitor.
Exactly, you are the problem. You get your nice paycheck and RSU's and you don't care. You think we are the trolls but we are the revolution, you are the reason the company is failing, not us. You sat back and watched Sal and team wreck the company for years and you did nothing. You have nothing to add to this board because there is nothing positive and that includes you. You are the troll and the worst part is you don't even get it, we do know, it's going under but you got your seat on the lifeboat so you don't care. Must be nice to just retire and walk away with a ton of unearned money.
If the quarter was a blow out or the numbers were turning around the board would be a fire with posts saying just that. Instead you read this thing several times a day and just fume because you can make a difference and you don't.
I still think it will be under 5 by December. Still going by the Max Pain theory. 2500 calls at the 5 strike...we should see five or below. That's just how the options have been running. However, this next reporting is going to be huge. They had their big "New" product launch in April of last year. Now all the sales of the new products are coming up for renewal. If we continue to see revs decline, I really don't know how they are going to reverse the trend. The 85 million sale will get them above 200 for a quarter (although that was not the way anyone was expecting to achieve that number). If the revenues keep falling, I don't know how that Zacks article can support the price tripling.
Alive and well! Just no reason to post anything because people who think they are in the "know" are so far out of touch it makes me wonder if they even have jobs. What you on this message board is a ton of disgruntled former employees who couldn't cut it and blame the company. It is just sad. Some people just can't let go and move on.
It seems to me that they need the cash. As I remember they did not just get $100 million right away. I believe there were conditions to the loan and there was a time period with benchmarks. Obviously the revenues have continued to fall, they will continue now that another revenue stream is gone. I wonder if daddy was about to cut off their allowance. I guess that 85 million will now give them their 200 million quarter they have been talking about. But whittling away at the revs is not helping. 85 million is a terrible deal. Should have been at least 10 more million. But I guess you can't negotiate when you are in the "beggars can't be choosers" mode.
The market (Wall Street) knows the deal hence no movement in the stock even though the company just got $85M in free cash. It's going to cut a couple million from the quarterly numbers of course.
I think next quarter they do another restructure to try and buy time, cut another 7-14% and offer another catchy title program.
Yes it's a win. The sold the first 49% at $90M and then they sell the controlling 51% at $85M......everything they touch goes down in value. It buys them time as you said but that's about it. They will squander it no doubt. They will also use it to hide another poor quarter, it's like Sal never left. None of these people are C level execs but they are paid like superstars what a crock.
They were scared of the convert and this would have gone a long way to cover it. Now if the convert isn't going to happen the question is what do they do with the money. It will likely help cover up another bad quarter and buy them some time. Tim has mentioned several times that he would like to buy more shares but I think that would be a bad move based on history. It's another dilemma, pay off the debt (not related to the convert) and risk another convert next quarter. This is a win for the team though because the Korea deal was WAY more than it was worth.
He erases every company he works for - Lycos remember that - nope - Monster remember that - the beverage company - or the cable rip off company - yea like the drink not the cables.
Blackberry would be an obvious choice.
Yahoo they are still around but I'm sure he could speed the decline.
I would agree, instead of going after the market leader and where all the money is going they chose to go after indeed. If you look at Alexa, Indeed has increased about 25% during the year and Monster has stayed about the same. They both had a drop off in Q4 of last year which Indeed as overcome and Monster has not.
Indeed has turned the core Monster product into a commodity and that's why Monster is losing. We will have a new management team in the next year or so there is no way they get 205 to 210 in revenue in the next 3 quarters. It's been a year since Sal left and the numbers have gotten worse, Sal knew the gig was up and he jumped and left his stoogies to take the fall.