I retired just under two years ago and was in Ann Arbor with Tax & Accounting? I came through with Thomson's purchase of Creative Solutions back in the late 90's and stayed until 2020. Friends have kept me posted as far as the layoffs to development and the sorry state of moral there. The Tax & Accounting software (Ultra Tax, Accounting, Practice) were always a cash cow for Thomson. Don't they realize that outsourcing overseas will ki-l it? Not being biased or prejudiced, but basing this on the actual history of another tax company back in the early 2000's.
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They either are purposely destroying the company or getting ready to sell it. That’s all I see. The stock is at $120.
BPec is the consistent leader pulling strings and he needs to go.
I think it was Intuit in the early 2000's that shipped their support overseas effective on Jan 1. On Feb 1 they had the best support in the business. Why? They lost so much business in one month support was brought back to the states. Who was manning the phones? Programmers and analysts. We got a good bonus that year from all the accounts CS picked up.
Don’t worry. It’s happening at CaseWare, too.
Charlotte and here minions wrecked it.
Many of the people currently in leadership and management don't understand tax OR accounting.
The big issue facing AA is that there are no longer adults in the room that understand the tax compliance business. The industry has a long history of new leadership in companies that all thought they knew better or had a better way and destroyed businesses, taking actions similar to what is being done in AA..
Here are just two of many examples. CCH Taxwise/ATX didn't answer the bell in 2013. They fired the CEO in February as a result. And there's Dynatax/Unitax way back in 1989. Dynatax/Unitax is a really strong lesson. They were a major player, an $80M business in 1988 (Do the math as to what they would be today) that brought in a new CEO that "knew a better way". Long story short, they imploded in early 1989 when they could not produce tax 1988 returns.