As a happy employee, and one who is pleased with the direction and leadership at CIBER, it would serve no purpose to get involved in the morale discussion for as you point out at every company there are happy and unhappy campers. I did want to point out to you that the ASP arm of CIBER is Agilera not Agilent.
The crucial thing is whether CBR is losing good employees with the technical and people skills that are cutting edge.
Consultants are generally high turnover: 1. the poor ones because they hurt the business and are terminated. 2. the good ones because they are often lured away (for more money, stock options in a hotter stock, and less travel) by the companies they consult for.
CBR management and investors like the first kind of turnover.
I get the impression that mamagement believes that a more dynamic, higher priced CBR stock will help CBR to retain the best employees.
And it will make me happy too.
Another thing that would make me happy would be a buyout of CBR at anywhere near the premium on the buyout of MMWW. CBR and other similar companies provide strategic value to the right merger partners worth far in excess of the stock price.
I just hope that management doesn't get married to all of the ambitious plans (which "oft gang aglay") and ignore and reject overatures from prospective suitors.
A few birds in the hand now are worth the possibility of a flock sometime in the distant future, especially when the stock market doesn't give your company much respect (only got 1 bird in the hand now <grin>.