The only asset search firms have is there key people. It's the individual relationships with clients that count. Many clients will follow the search exec if he goes elsewhere. CT Partners does not have the brand name equity of a SpencerStuart or Heidrick. CT Partners certainly is much more dependent on the search exec's individual relationship. What assets would an acquirer be interested in? CT Partners key people. Can they be retained? How much revenue would be at risk? Major uncertainties. I suspect the best strategy for CT Partners is to rebuild their credibility with a new Board and a new CEO. Someone the key people can trust and respect.