Hearing rumours that an IPO is coming in the new financial year. Looks like things will continue to be destabilised
12 replies (most recent on top)
@20s seriously, polarizing? You are literally sitting on a site that does nothing but complain about company’s. You don’t think your posting on this site has some level of polarization? And in a negative context? Wow, super dense.
@20q I should have been clear. Destabilizing for employees. And no I didn't flunk out of business school, and managed to not be so nasty through my successes, at cengage. The employee experience has absolutely been destabilizing or you have your head in the sand. It’s a reality of making rapid fire business and organizational decisions to meet aggressive financial aspirations. Be more balanced instead of assuming someone is trying to polarize opinions.
@1rt Every company has an aspiration to either go public or be sold. So sorry that is a surprise to you. I don’t know what charts you are looking at, but based on the financials that recently posted, doesn’t seem like the company is destabilized at all. They are growing in revenue and are hiring people, that’s not a sign of destabilization, it’s a sign of growth. Perhaps you flunked out of business school? Before you spew fake news, perhaps consider spending your time better and you’ll have more success and not have to sit on this site making things up about a former employer.
@1rv yeah it was pretty awesome. Sounds to me like you should have tried sales. I never paid for lunch on my own.
@fn how nice for you. Meanwhile, we in Editorial back in the day had work at home! That's what Sales always told us, but then by the time I left, they yanked it away. And then there was when they cut our entertainment budgets so if we wanted to go out for a team holiday lunch, we had to pay for our own meals. But, nice for your that that the products we created and worked on to ready for publication got you your five-figure bonus.
@1pb it might be fake news but not a fake aspiration. Leadership was very transparent about intentions with cfo being very specific about his remit when hired. PE is looking for profitable exit strategy, and that shouldn’t be a shock for anyone on here. It is unfortunate that those pursuit have been a destabilizing roller coaster for everyone involved.
Welcome Fake News! I hear McGraw Hill is going to get taken Private and Pearson is going to shut down operations and just give up. Any other noise you want to share?
Dust off those resumes.
@n4 having worked for private equity companies before, they'll give it a go as a last resort (ie they'll try and up margin for a couple of months and then give up the ghost) - days are numbered
There will be no IPO with the balance sheet Cengage has.
Anyone who buys this cr-ppy stock should have their head examined. It’s a great case study on how to keep a large business afloat by financial engineering and moving the goalposts.
I was just discussing “the glory days” with a good friend. How we worked like dogs over the holidays, because we knew we were padding our $50-75k bonus checks. That would be $90-$125k in today’s money.
Time for Apollo to offload this dead weight and fool some new investors.