Since D&B chooses not to provide credit ratings on itself or affiliated businesses, S&P should review D&B's creditworthiness against D&B's own criteria.
RATING: "--"(BLANK) CONDITION: UNBALANCED TREND: DOWN
Liquid Assets do not come close to meeting current obligations. Tangible Net Worth is a significantly large negative number.
The Risk Management business was down due to decreases in "project and usage based subscriptions". Pardon me, but don't these two represent 100% of the Risk business? So, Risk Management was down across the board, and significantly. This trend was unforseen, and will continue.
The reputation of leadership is in question, once again. "We didn't see that coming" is not something I like to hear.
The reputation for quality information is declining. The reputation of the salesforce is one of arrogance and unresponsiveness. The investment community is noticing.
The flagship DUNS Number remains a powerful asset, and the ability to identify and consolidate disparate data is valuable, but it's only as good as the reference information behind it.
Don't take your eye off the ball D&B. It really is all about the data. But it's also about execution and true leadership.
Anyone else find it a significant issue that Salesforce.com has been able to get into the data market in a couple of years and according to Byron's statement below, seem to outperform D&B (150+ year old company) at its own game? It's all about leadership.
"Let me start with salesforce.com. The relationship's going quite well. They're ahead of our plan. We think they'll be ahead of our full year plan as well."
This is mostly because SFDC is spending on their company to expand, whereas D&B is cutting their workforce to help "save".
Data is the most important attribute that D&B has - not product, not salesforce, definitely not leadership. And yet the recent reduction in employees meant even fewer people that actually UPDATE REPORTS! Just silly.
Most of the offices are ghost towns, and it's always a new 3 year plan to succeed. Blah blah blah...
Although it should not matter, I'm both a former employee, and an investor. I left voluntarily.
I care deeply for the people I know who are still employed by DNB. It kills me to see this once great company erode and employees and shareholders left holding the bag.
The president of my new employer asked during the interview: "will D&B still be around in 10 - 20 years?". His honest opinion; no.
That was eye-opening. I'm waiting for some, any, postive news that boosts the stock beyond my (revised downward) targets, and I'm out. For good. It's not worth waiting for leadership to get their act together, as an employee or as an investor.