https://www.bloomberg.com/opinion/articles/2020-08-20/covid-19-back-to-school-doubts-crush-textbook-publishers
8 replies (most recent on top)
@4fhf+16yq3kuD. Can you please tell us when to expect our custom cloth masks, emblazoned with our new logo "Cengage: Bankruptcy 2.0 or Bust."
Greetings,
I would like to formally respond to the recent Bloomberg article on our recent troubles. Our finance team has analyzed the latest credit downgrade and disagrees with it vehemently. For one, Moody's fails to take our explosion in Cengage Unlimited subscriptions into account. They also did not consider that we have a significant competitive advantage in the marketplace with Cengage Unlimited. This would be like not considering the competitive advantage Apple had with the iPhone in the late 2000s.
Finally, it is obvious that Cengage is no longer a publisher and has not been for a long time. We are a technology company that competes with Google and Facebook, not tired dinosaurs like McGraw Hill and Pearson. Bloomberg completely missed this point and I recently met with their CEO John Micklethwait to express my frustration with their erroneous depiction of Cengage as a publisher. During this time I showed him our MindTap and Cengage Unlimited apps which have won multiple awards. I also shared with him that I was named a Most Innovative CEO by the respected Fast Company website.
I look forward to sharing more successes with you in the coming month. In the meantime, please continue to live the Credo and think about what Cengage values you will demonstrate.
Thank you.
Digital activations are now at 587 billion! Unprecedented!
Nothing to see here. Every business is doing badly right now and Cengage is not stuck in the status quo like our competitors. They are trying to DO SOMETHING. That something will lead us into bankruptcy for the 2nd time in less than 10 years, but that's the price we pay for saving the student billions of dollars! I am a good boy that is loyal to my director. I am proud of my .025% merit increase while he pockets a five-figure bonus. He deserves it while I need to work harder to live the credo every day. I love to work for a mission based company.
I've worked at both Cengage and Pearson, so I check out the Pearson layoff site sometimes. Nothing there from soup guy but there are some really...really angry people who cant stand their bosses in the online learning solutions group.
Re the You Tube link: That one handed soup guy just posted a p–n You Tube link about women’s private parts. I’m beginning to wonder if he does this to force The Layoff to remove entire threads, including legitimate discussions. Maybe he’s actually trying to destroy The Layoff, not Cengage. Or he’s just a creepy Incel.
Credit markets don't care about digital activations.
This makes no sense. Michael just reported that digital activations are up 687%. That's as good as gold!