2.3 billion. This company once had a market cap of 16 billion. Totally inept management - particularly Karmanos himself - ruind this company. Sorry for all the folks that will lose their jobs but hedge funds don't buy companies to run them. They buy them to sell off the pieces. Perhaps BMC will be interested in some of the scraps.
Sentiment: Strong Sell
because they're stupid?
sell this pos while you can. imagine if you had sold months ago and bought goog, ba, gs, nyx, and many, many others.
stop praying for a buyout. hope is not part of the investing equation. the poison pill will prevent a buyout. it's not worth 10 and the has-been wants 20. he's nuts.
there is still time to correct your poor judgment. you can't get back the past but you can pave a new path into the future.
that is exactly what the has-been has failed to do.
good for you. move on.
you won't be pounding your head into the desk. the most that the has-been will get for this company is 10 bucks. he could have gotten 12 a while back but his own greed and hubris ruined that chance. a lot of people's money rotted while the market headed higher. too bad they didn't listen. they'd have a lot more dough right now.
longs! take this run up as an opportunity to sell. it won't get much better.
you're dreaming. it ain't worth 15. the has-been would have to borrow most of the dough and noone's going to lend him the money to buy this thing at such a markup.
sell the pieces for 20? HAHAHAHAHAHA! that's pretty funny. if the pieces were worth that much someone would already be banging on the door to buy it at 15 and it sure wouldn't be trading at 8.
all i hear are crickets.
wake up longs. sell it. buy something that is actually going to make you money. we're in a bull market and this pig is going no where. there are at least 10,000 other companies that will make you more money. buy one of them.
convert the real estate for cash??? that's a hot one. have you ever seen downtown detroit? the building is directly across from blight. it wouldn't sell for anywhere near what it cost to build. there are many thousands of sq feet of empty office space in detroit. it was one of the stupidest things he ever did. come to think of it, that decision was right around the time he started making a long string of stupid decisions, like, oh say, dprc?!
there is nothing here for orcl. they don't do mainframes and cpwr's other lines are miniscule in comparison. the only really viable options are ca, bmc and ibm. i just don't see anyone else big enough to take on this mess. there will be a lot of house cleaning to be done. you may have noticed that ca, bmc, and ibm all posted increases in sales while the has-been posted yet another decline. look for more of the same. the chicken is dead. it's just running around the yard one last time.
larry's got much better things to do with his time and money.
does anyone else see any viable buyers?
the article says that cpwr is a possible takeover target. it doesn't say by orcl. as i said, that would make no sense at all.
i've been saying all along that cpwr will get bought. the problem for shareholders is that the has-been could have gotten 12 bucks a share 2 years ago ago and now won't even get 10. so not only have they lost 20% they also lost 2 years. too bad they didn't listen and dump this turd. they also lost a lot of opportunity in other companies that are run much better and have far better prospects.
you mean larry ellison of orcl don't you? correct me if not but why in the world would he want cpwr? that makes no sense. orcl doesn't do mainframes and that's cpwr's bread and butter both in software and services.
and to another poster, yes, the has-been is irrelevant. he hasn't made a decision that has positively impacted the company, its employees, investors or customers for years.
the has-been has become a big joke. i just feel bad for the hundreds who will lose their jobs when the inevitable takeover happens. don't be surprised when they cut way back on the detroit staff and look to lease as much of that albatros downtown as they can.
the has-been had his chance to go out on top years ago but has now blown that chance. he'll go out with cpwr a shadow of its former self. and it's his fault.
you have no clue what you're talking about. in most programming jobs if you stagnate it's your fault. there's always plenty of new things to learn and apply. i've been in the business a long time. i would NEVER hire someone who had 5 jobs in 10 years, not a chance. This excludes contract work of course. you cannot possibly master a major piece of software and be a key developer if before you even have your feet wet you're looking for the next 3% raise for jumping ship. there are a lot of resumes floating around now for people who've been in and out of jobs since the late 90's and now they have trouble even getting offers for less than they were making back then, again except for temp work which is not what i do. i've see a lot of these resumes. i don't even interview them. it's a waste of my time and theirs because there's about a 1% chance that i'll hire them. if you don't believe me ask a professional independent recruiter. the main one i work with has even stopped sending me most resumes that are like that because he knows i'll just toss it. there's plenty of talent out there that understands commitment and loyalty. i won't waste my time on someone that's going to be looking for a new job in a few months.
12? you mean dollars?? dream on. it ain't worth 10. the has-been could have gotten 12 2 years ago but now he won't. the company has been badly mismanaged and gets smaller every day. they can't even see that what they need most is an outside executive to come in and shake things up. the has-been just can't stand the thought of someone knowing better than he does how to get out of this mess. he also knows that some of his pals would be shown the door. and he knows which ones because some of the incompetence is obvious. maybe someone has something on him? that's the only reason i can think of for some of them to still have their jobs, other than the has-been's pervasive stubborness.
if you've "worked for several companies" since working at cpwr in 1998-2000 then your resume is crap. who wants to hire anyone that sticks around for only a couple of years on average? not me. a resume like that ALWAYS goes into my trash can. qualifications are irrelevant if you can't count on the person to be there in 5 years. and frankly, the qualifications claimed are suspect.
is anyone really surprised? pete the has-been is and has been out of touch with shareholders, employees, customers, and the market in general for years.
he's like the chicken that has his head cut off and runs around the barnyard. he's finished. he just doesn't know it.
c'mon has-been. sell it to the first bidder for 8 bucks. it ain't worth more.
now all you longs, how does it feel to watch the market going to new highs while pete the has-been wastes your investment? it's your own fault. you've been repeatedly warned to sell and move on. there's no money to be made here. the market will continue to move higher while you wait for a turn around that isn't going to happen or a buyout that may never come.
wake up and smell the coffee. this company has a bleak future. the tone of the conference call said it all.
neither does pete. that's the problem.
pete is a has been. i think he knows it but he's so stubborn that he couldn't find a buyer at the ridiculous price of 20 bucks when he could have gotten 12. and now he can't find one for 10.
the bod of this company is a joke. they're like this do nothing congress - no oversight whatsoever.
sell now. there are thousands of better companies to invest in. the market keeps powering ahead and leaving cpwr behind where it belongs.
what the hell does that mean? they get free parking?
another great thing is that they get to pay taxes to detroit. what a bennie!
wasn't cpwr supposed to get a chunk of that thrown their way???
pete's a has been. the sooner he's gone the sooner they can sell this turd for MAYBE $9. too bad for those working down there. they'll be relocating in some cases. the rest will be out of work once the inevitable happens.
what a shame. a once great company flushed down the toilet by one ego.
some things never change. the company is still shrinking, pete's still a boob, and the lions are 0-5.
this guy is a real piece of work. he says the same damn things every quarter. nothing will change until he and other top managers are gone. they might be able to find a buyer at 9, but not much more. who's going to pay a premium for a shrinking business?
dump the stock longs. the market is going higher and cpwr isn't going with it.
2nd quarter revenues:
what brilliant management. get ready for "we didn't close business". how informative and promising!
wake up longs. the market is going to new highs and this POS is going nowhere. dump it and move on. pete won't even be able to find a buyer at 10 now. the business just keeps getting smaller.