Training for over a year? That is absolutely
ludicrous!!! Why #1, would you have to train someone for 12
months to fill a position? Federated heavily recruits at
CMU, Duquesne and PiTT. Training is done internally
for approx 90 days and if the end result isnt
favorable for FII then that person gets the axe. I know of
no company this is willing to spend the money/time
on training for a year, that's what school is for
and also experience in business.
An all-time high
for the stock, I would have to say its about time
after 2 years....
I Have a quick question for "theirfamilyfirst"
why would the aquiring company shake up management if
the current management has poosted record earnings
the last bunch of quarters? I also know that they
train their employees for over a year. The product that
they are selling is far from mediocre and if it was
mediocre why is the stock at an all-time high?
Came in at 42 cents vs 36 cent street consensus.
Merrill raised estimates this morning to $1.75 for 2000
and $2.10 for 2001 (old numbers were $1.65 and $1.95
respectively). Merrill's new price target is $31/share. This
earnings release and other analyst earnings upgrades
should be the catalyst to move the stock near term.
Especially interesting, and important, equity-related
revenues totaled 34 % of revenues, the first time ever
exceeding money market revs.
This company made its name by gathering assets in
fixed income & money market accounts. Until recently,
their equity funds were less than spectacular. However,
they are improving quickly. They have several funds
which rank at or near the top of their peer group. It's
nothing like Fidelity, but they are consciously making
improvements. That's enough for me to keep the faith.
you must have been an employee too. The
description of the "sales force" and the "training" is right
on the money. I too have first hand knowledge of
this company and it is run in a very odd fashion. You
should see the turnover of the "sales force"!
sounds like a former employee - but your are
right on - if they sold, acquiring company would
quickly shake up management - and family members would be
unemployed - not that any of them have to work - have you
ever heard of a marketing company where the salesman
are not paid on commission - they hire young kids out
of college, train them for a month, give them a car
and territory, and send them out, brainwashed that
the donahue family has given them the opportunity of
a lifetime - but the product they have do sell is
mediocre at best - no equity capabilkities whatsover - do
you realize at one time in the late eighties,
Federated was bigger that Fidelity - but the same
management that run the company now did not want to pay
people to build an equity fund presence - so they stuck
with the same old stuff
I am from Pittsburgh and know way more than i
would like to about this company. It is a family
company that issued worthless stock for one reason,,,,to
pay off retirements and options. If you were sitting
on $443 million, would you give anyone control of
your company? The cash from the buy back certainly is
not being put back in the company, at least not
towards compensation. The FAMLIY controls this stock.
Look at sales for 1999 and see how they have fallen. I
got sucked into $19 for worthless, non-voting stock