It's laughable that both Mark B, and the board are using the same MF downward spiral play book. Let's buy shares in the beginning of a bear market. I truly believe that the downfall of HPE Software, MF, and OT will be used in MBA classes very soon as what not to do when you are running a technology company. Brilliant! See everyone at the end of the drain!
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When a company announces stock buybacks there is almost always an accompanying layoff ( got to pay for it somehow )
I’d wager anyone that OT products/technology …. However mismanaged and squandered is as bad if not worse than MF. There are still tarnished gems in the MF crown although they sold the biggest (MF modernization) … Fortify, SMAX, ArcSight, NetIQ, Vertica. On the OT side ECM isn’t that great and BN, Encase, Zix, Carbonite are dying on the vine. It’s just a big hairball of acquired technologies.
Don’t get me wrong, MF was a mistake careening toward the rocks. But there was some stuff to salvage.
Mark B is king of the garbage. Land of the misfit toys.
My friend, honestly, this share buyback—very good move, wallah. Many big companies do same to make stock price go higher. OpenText doing buyback and also increasing dividend? Khalas, normally investors should be happy, and price goes up.
But ya habibi, the problem is Micro Focus. Before OpenText bought them, stock was fine, no? After the deal, things went down. All the analysts are saying—this was mushkila. Micro Focus taking millions of dollars, just draining the company. That money should be going to the main products, the ones that actually bring customers.
Now OpenText must spend all this effort fixing old, useless software they got from Micro Focus. Haram, really. This acquisition—not smart, mafi fayda.
MBA classes? I’m yet to meet anyone that’s done an MBA that is 1 Hit and Miss never guaranteed to walk out being smart 2 has any type of social skills or can negotiate. 3 MBA ‘master in being autistic is the way we say it.
MF had the exact same arrogance when they bought HPE. What a disaster. A boa constrictor swallowing a goat.
Instead of investing for growth in the company, the CEO is propping up the share price via buyback. Wtf.
I agree with this 100%. You could see the similarities when we were buying MF. Arrogance, “we have done this before many times”, “we know what we are doing”, all ego and arrogance. Amplified by refusing to listen to people in MF who, heaven forbid, actually did know what was going on.
MB and his ELT need to be fired.