They are probably waiting for documents from authorities from foreign sources. They are probably frustrated as well. They did give preliminary numbers. They have employee stock ownership in the form of ESOP. They also would make a could take-over target for a larger firm that could add on more physical services and streamline overhead. I think something exciting will happen soon. $46,000,000 was lost by impatience and fear, not the hard working people of Baker.
Excuse me ... but they are a year behind in Qs and Ks. "Hard Working" people don't take a year to get restatements done. And unless they've been at their desks 6 and 7 days a week, 14 to 16 hours a day .... no one involved in this debacle .... BKR Financial People, Top Executives, Board Members, Staff/Managers/Partners of D&T .... none of them deserve an single ounce of respect.
$46 Million isn't chump change .... it's significant damage. Significant enough to attract the attention of some "Hard Working" Attorneys who might seek retribution for "Hard Working" shareholders.
I cant stop laughing when I hear hard working and Baker int he same sentence...2% of the company is hard working...the other 98% make this company have the worst work ethic I have ever seen. Nobody cares about the company and most have the attitude "what are they going to do...fire me?"...And the answer is no because they cant keep anyone and nobody want to apply there...Most just take a position until they land a real job with a well managed company...This company has some serious issues they will only be resolved when the fat gets cut real deep.
A billion dollar and growing backlog, close to 10% organic growth, a PE of 10x or less of 2007 earnings, and book of business spread over many industries. Not to mention awards and growing government business. I guess that happens all by itself. They will complete audit soon and will buy back stock. This is a great oppurtinty to load up. I hope the stock goes lower, I will add quickly to my position.