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I’ve been reading these posts, recent and past, and doing some due diligence on this company because I have to make a recommendation on it. On the face of it, the company is undervalued. Market research firms typically sell privately for an average of about one times revenue, plus or minus based on profitability. Harris’s mc is less than one third revenue. These are the things I don’t understand. The central premise behind this company was to gain and maintain leadership in the transition from traditional to on line research. They did that from 1998 to 2005, growing revenues and profits rapidly, even while they made continuing investments in on line research; and then it suddenly collapsed after Black and Angrisani left. The rumor at the time was that the leadership was forced out, but why? It would be one thing if they were failing, but they weren’t, by the numbers. Someone posted recently that they were never profitable. That is flat out untrue. The final quarter of the last fiscal year, FY2005, overseen by Black and Angrisani showed an operating profit of 18 percent, according to the NASDAQ filings. The second thing I do not understand is Fingerhood and Bolloré. Both of them are massively underwater with their investments. Why are they putting up with this Board? The third thing I do not understand is the complete failure of due diligence on new management. They have gone through four CEOs and five CFOs in five years? Who on the Board was supervising the search firm? Finally, I checked on the Board members and Harlan and Treuille have excellent reputations. Why haven’t they protested or resigned? I don’t get it! Anyone want to help with some facts; and not half truths and lies. Given that the Board members each have taken over $600,000 in total compensation during this debacle, perhaps they are just bleeding the company. What can you tell me?
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Some questions about this stock?
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stockpickch... | (1 Rating) | 21-Oct-09 09:43 am | ||
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SPC, when is the investment world going to admit B...
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sluethtrade... | Rate it | 21-Oct-09 11:54 pm | ||
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I do understand your suspicion about Riedman....
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stockpickch... | Rate it | 22-Oct-09 08:55 am | ||
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You are right to be suspicious about Fin...
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yellowbirch... | Rate it | 23-Oct-09 12:31 am |
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