Saturday, December 17, 2005


The Company is listed on the NASDAQ and periodically I look at a website at YahooFinance to see how things are going because we, down here in the trenches, seldom get word about corporate goings on.

It turns out there was a bit of a shakeup last month. The Company announced that it was going to delay filing a quarterly report to the SEC because of irregularities in its billing. They also weren't going to make a profit forecast. As a result, their stock price plummeted 25%. Then it was announced that they had missed a filing deadline with NASDAQ and risked being delisted because of it. Shortly thereafter, but for supposedly unrelated reasons, the CFO resigned.

H**** worked for a company that bought out a struggling company. They then brought the executives from that struggling company onboard in the new company where they could work their same magic and within a year, the once healthy company was screwed up and H**** got herself laid off.

I see the same thing happening here. My original employer made some really bad mistakes and we paid for it with the loss of bonuses, 401k matching and raises. When we were bought out by our new Corporate Overlords we were all told that this would turn things around. I was right to be skeptical because it looks like the house wasn't properly cleaned and the rot that did in my original employer has infected this one.

Hmmmm, and it took about a year.

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