Your 2nd to last sentence says it all. WHO lays off sales people who are SELLING?? Most of a salesmen's pay comes from commission; if they're not selling, they're not eating.
Unfortunately PB management keeps making stupid decisions to try to get a short term bump in share price. Meanwhile, they keep laying off their best assets; they're sales and service people
Congradulations on the creative thinking and giving us all a good laugh. The tooth fairy ain't coming to the rescue. PBI has long fantasized selling the headquarters and at most leasing it back or at most, moving to cheaper digs. Watch as other assets are liquidated to maintain earnings numbers. The most valuable assets of PBI have always been the sales force, engineering and the brand in that order. Where are they now?
Given Amazon's use of the Post Office to deliver everything under the sun, is it time to consider the sale of PBI to the online store? PBI just announced the sale of its headquarters. Is that a signal that it no longer needs a head office? A signal that operations will become the property of another company?
We all know mailing volume is dropping, but should the company just ignore what is still the biggest generator of revenue? PB has laid off 100s of sales reps. Sales reps dont make money unless they sell; so if they werent selling they would leave on their own. But PB thinks customers will buy 20K machines from a telemarketer. Yes, thats right. You would also think they would try to keep existing customers, yet they dont want field techs to visit ANYONE who hasnt placed a call. PB spent 15M on a call dispatch system that doesnt work. They continue to ignore customer complaints about PBs foreign cust service. They no longer care about customer service, even though they say they do. Employee morale is as low as it could possibly be. And things are going to get worse because the field management team are incompetent. Hope the CEO starts paying attention.
PBI shares inching steadily higher every day this week. May be the start of a continuing move higher as analysts and others start to understand that the company is becoming more than selling and servicing postage meters.
It is because PBI has bought back tons of stock. They have nearly $4.5 billion in treasury stock which subtracts from shareholder equity. . You will note as a result PBI's return on equity is 85.25%. I don't think that it is anything to worry much about. - PBI has sufficient working capital.