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Kforce Inc. Message Board

  • preblast preblast Nov 7, 2000 12:15 PM Flag

    The buyback is really a huge statement!

    This is from the PR:

    "Based on the minimum
    and maximum offering prices specified in the offer,
    the aggregate purchase price if 10 million shares are
    purchased would range from $47.5 million to $55.0 million.
    The Company will finance the offer from borrowings
    under its line of credit.

    The offer is scheduled
    to expire at 12:00 midnight, Eastern Standard time,
    on Tuesday, December 5, 2000, unless extended by the
    Company.

    The Company may resume its open market share
    repurchase program no earlier than 10 business days
    following completion of the modified Dutch Auction tender
    offer, at which time the Company anticipates having over
    $17 million remaining under its $100 million share
    repurchase authorization of March 11, 1999, as increased on
    October 24, 2000"

    They finance it with borrowed
    money! That's a huge vote of confidence. Can investors
    receive a better signal? If the price does not rise
    substantially over 5.5 before december 5, as I read it, they
    just continue buying back on the open market! 100
    Million dollars are authorized to buy back. That's half
    the market cap. IMO,this stock has no downside. It
    looks like for some reason management is sure the stock
    will be higher than 5.5 within months.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Wish #2 in finance was still there. In fact, I
      wish #1 in finance at that time was still there. Those
      were the days when finance was understaffed, but
      everyone, and I mean EVERYONE worked hard to serve the
      customer. Now it is just about money. Too bad. If #2 or #1
      read this, now this, this company is no longer worthy
      of your integrity and work ethic.

      Best of
      luck.

    • A number of people feel your pain regarding your
      loss on the stock. A great number of those people are
      the ones that helped build the company up in the
      first place. Only to see their stock value fall like
      Montgomery Ward's prices. Bad enough to suffer that pain,
      then to have someone get out of the military and tell
      people how to run a recruiting firm? The proof is in the
      numbers - kforce was worth a hell of alot more money in
      1998. Everyone is fooling themselves if they think the
      Website cratered this company. KFI was a convenient place
      to spend lots of money, but the real damage came
      from the management changes in the core operations.
      Now the site has tanked, everyone is looking to the
      core to bring the company back. Walking into an office
      and calling people malcontents and under performers
      is not going to get it done. Which offices are
      performing best? The ones run by long time Source or Romac
      people. How many LDP students are on the top of the sales
      rankings? Were ever on the top of the sales rankings? I
      have a tremendous respect for the challenges they
      face, but wrong people for the job. Cheap shot on the
      "Senior Leader" bit, and the office didn't rot for two
      years. The Central Region performed fine compared with
      the rest of the product lines. Regarding your
      thoughts on the "Pope not being a Pope" before he got the
      job: The Pope was at least a Catholic before he became
      the Pope. And he knew how to give a Mass, along with
      saying at least a few prayers. F&A 101 was a good
      effort, a nice compilation of info that helped some. Most
      of us are former accountants or finance
      professionals, we did not need it. Funny thing, I never saw a
      F&A 101 book make a call, close a deal, or provide a
      consultant the knowledge they needed to be successful. That
      came from the experienced people they worked with. As
      for my continued posts, I still have stock, sadly
      bought at $8.50. And, everytime I see the words
      "malcontents" and "under performers" I rush right to the chat
      room and go off. Sitting here in my BDU's (combat
      uniform for the "malcontents" out there), getting ready
      to go to war on the next person that takes cheap
      shots at good people.

    • Thank you so much, DStrand! I don't want to
      "uncloak" in this forum, but suffice to say I worked with
      her, and found her an overly hard working and loyal
      lady, whom, I suspect, got a raw deal, although I had
      left by the time she and Romac, pardon me, KForce!,
      parted ways. I'm glad to hear she's okay. I wish her
      only the very best.

    • Read with interest your earlier post regarding the plight of the person who once #2. She's my daughter and is hanging in there at Intermedia.

    • I have to ask, WHAT does POS mean?

    • In my opion you have made one mistake in you last
      post. The LDP person that comes in has in the past been
      a leader of people with the same mind set. You do
      not go into the corp wanting to have a mind of your
      own. You must do what you are directed to do. Sale's
      and recruiting is a somewhat creative job. Rules must
      be broken in this job. Rules in the corp are to keep
      some idiot from killing you. You cannot lead these
      people the same way you can those in the corp.
      As
      for your brother I wish him well. I do not understand
      how someone with his Credo: "I will not Lie, Cheat,
      or Steal, nor tolerate those that do." could remain
      with this POS company.

    • In my opion you have made one mistake in you last
      post. The LDP person that comes in has in the past been
      a leader of people with the same mind set. You do
      not go into the corp wanting to have a mind of your
      own. You must do what you are directed to do. Sale's
      and recruiting is a somewhat creative job. Rules must
      be broken in this job. Rules in the corp are to keep
      some idiot from killing you. You cannot lead these
      people the same way you can those in the corp.

    • Artic:

      I check this board occassionally
      and have to agree with you about the stock options
      and holding your breadth.

      As for the BUD, I am
      very close relative of his, he's my brother. He tried
      to recruit me to this POS but I held out personally.
      I only invested 25K in the company that is going to
      take on Monster, etc. What do I have as I write this?
      about 3K and going south.

      My Bro is alot of
      things, but he's not a BS'er like what he described that
      remains in the company. After what happened to him, I was
      his biggest critique. I called his bluff on
      everything he said..........his consistent response was to
      call other LDP'ers and read this board to get an
      assessment of the corporate culture and work ethic,
      direction of the company. I have to say, so far, he's right
      and it does not appear to be getting better. Nor will
      it in the future.

      I did what he recommended
      for several months(read this board) and concluded
      that he was 90% right about the cancer that exists in
      the company. I have to tell you, he didn't exaggerate
      much (close to none at all)!!!!!!!!!After all, He is
      former Military Officer and believes in the Credo: "I
      will not Lie, Cheat, or Steal, nor tolerate those that
      do."

      You don't get comp'd on performance, but by the buddy
      system, same with the corporate manager and BOD. Call me
      silly.....hasn't it played out this way...........

      After
      careful review of the situation, my assesment of the
      people in charge is that NOTHING IS CHANGING. Why are
      they better off as a company with a leader other than
      my BRO? He inherited a SH&THOLE and everyone knew
      it, including the previous Senior leader in that city
      who watched it rot for two years before taking
      action. Oh by the way, the sh&tty situation in the city
      was noticed by DD, Moe, Stanzcak, et al, and my bro
      sat in on a few meeting concerning this matter.
      That's not leadership, training or accepting
      responsiblity for what happens on your watch.

      Please
      feel free to correct me if I'm wrong.....I've got an
      investment that is down 89% year over year. The numbers
      speak for themselves.

      As for being a recruiter
      before he entered this market, I have to laugh. Do you
      have to be a President before you become a President?
      Or a Pope before you become a Pope? Let's apply
      these standards to Dave Dunkel and ask if he needed to
      be a CEO before he became CEO of KFRC? Please spare
      me the side-splitting humor.

      I'd like to
      point out that he was the author of F&A 101, and you
      wholehearted endorsed it. Did he need to bill, before he wrote
      that training manual?

      And finally, you left
      KFRC in July, why do you still post....maybe anger
      managament classes can help. If it's financial, maybe you
      should "Get Over it" like you have recommended to
      others.

      W

      Texas (the greatest state in the nation)

    • I want to wish all my old people and friends a
      Good and Healty Holiday & New Year. May the weather in
      Tampa stay warm for my monthly visits. For those who
      don't know , I am doing fine...trying to build as
      always...think 100M is in our sights.
      Hey feel free to call
      or email
      dmperlman@aol.com
      610-496-5435

    • Amazing, I put all the spammers on ignore and my list is already full. The maximum is 100!

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