Thread regarding Blackbaud Inc. layoffs

Come on sell now pie face.

What happened to DWI?

okay okay made it to the Clearlake offer, good work now make the growth happen to the $90s like you promised on earnings calls and for once can you do it without shrinking your labor force, buying another company and actually innovating or are you C level to stuck stalking this blog that you forget what your damn job is.

Take the payday, renegotiate with Clearlake and get the he-l out already.

Oh wait you just can't help yourself C suite...India and cheap labor here we come

I think I can I think I can I can almost make it to $81.00...not...still not there

Sell already

We hear we are selling that company we bought for a ton of cash. Why are leaders still here that dragged us down. Watch more layoffs vs these poor leaders should step down and retire. Run Mike please don’t let door hit you in butt. Don’t worry team mates the end must be close between the breach now this bad move pie face is on thin ice. Go back to CT and make pies Mike please.

oooh oooh ooh $76.23 per share

Sell to effing clearlake already, you cannot deliver on your lofty promises C suite. Just get it over with

Here Mike is buying more toys off our backs. Pie face Mike great example of greedy Wall Street CEO. What happened to his DUI ? Hoping we get early Christmas present and Clearlake buys us. Please get rid of Pie Face please. Go destroy Tera data. Maybe United Airlines will put you on their board with your board buddy.

Remind me Clearlake offered $81.00 per share correct?

Great example of greed Mike. All about your ego. Go spend all your money you made off our backs. I get the Wall Street angle but it needs to be about the hard working employees that don’t like what the company has become. Maybe politics has a spot for Mike. He needs something that feeds that big ego.

Lets be fair folks...this IS a For Profit corporation they just work with non profits. They are in business to make money for the shareholders. The problem is this C level team and board are not delivering on appropriate shareholder value by not selling to Clearlake Capital. They are in fact not doing their fiduciary duty to all of the shareholders out there by holding onto the company. They are treating it like a private piggy bank.

When is this guy leaving? This is a non profit company! These guys are millionaires and greedy. What a bad example. But good for Wall Street. This is why we want him out. Stock needs to tank! Clearlake please buy us please.

+1 long term investment plan will be gone Q4 and bonus structure is about to change also!

Hey folks, watch out for the elimination of the LTiP program. They know they cannot afford to layoff for fear of real revolt worse than March 2023 that still rings around the company. Rumblings are to pay for the $500 million stock buyback the LTiP will be sunset to pay fpr it.

When that happens get mad and get louder. Employees deserve better than this sh-t a-s lackluster no lead no vision C Suite.

They always use the employees to pad their pockets.

Should go to jail for stock manipulation! He is hiring yes men so when he sails away he can have his buddies in there. Has he always had a drinking problem? Retire already you have done enough damage here only your loyal minions like you. Like your DUI you buy your way to keep you insulated. You hurt us all at your company. Never even fixed what caused that breach. Just put bandaid on it. Typical Mike lied to our teams.

Looks like someone in the C suite is getting their feelings hurt with all the recent down votes.

Maybe C suite concentrate on producing shareholder value. Clearlakes offer is still outshining your stock price. You authorize new buybacks, just imagine where the stock would be without buyback manipulation.

Sell already

Don’t worry Mike will cash out soon. Smoke and mirrors Mike hope you guys can recover. Hard to read some of these posts. We could tell you more. Did he buy his way out of the DUI? He is a great salesman will give him that.

Awesome job C suite...wooo you crushed that earnings call, now remember that $81.00 a share offer from Clearlake??? Clearlake still represents a better upside than you have returned on the stock even with layoffs, buybacks and all the old sl--eball tricks you learned while not really learning how to run a software company. No wonder the companies you left are doing so much better they don't have this C suite to mess them up anymore.

Go away already and sell

This sc-mbag CEO will wait until 2 days before his contract is up then sell and write himself a sweet deal at Clearlake. It’s like having gum on your shoe you can’t get rid of it. I can see Mike in Florida selling swamp land to people in the mid west. Worst CEO ever glad we have this place to write how we feel. The big shot drunk destroyed a company that’s roots we in non profit vs making a bunch of greedy rich people richer. Also he won’t sell land in Florida it will be snake oil. I left the company couldn’t watch the place fall apart. Watch he will dump a bunch of you to make the bottom line look better. Worst CEO on earth for the people.

Tech companies should be about youth in leadership not greedy old good ole boys out of touch. Some one said it well below, Come on move on let Clearlake in.

Mike you made your money on our backs go play pickle ball in Florida and have a drink. Why Florida you won’t want to stick around and watch Clearlake make our company a better one. Time to get the out of touch senior citizen to move on please. Thank you go Clearlake

Did the DUI get dropped?

Hey C suite where is my $90+ stock upside... I would still be ahead if you sold to Clearlake...come on C suite deliver on the bill of goods your selling or move on already. Tired of the layoff rumors popping up yet again to maintain your golden rule of 40. How many people are you gonna ax this round? You guys always make out on the backs of the employees maybe take pay cuts instead of layoffs but we know you wont do that.

Sell already

Well I guess pie face got away with DUI. Hope he knows what this companies employees think of him. He is a big talker all the ideas come from us. Never seen a bigger operator than Mike. Clearlake please buy us and get this guy out of here. It’s all smoke and mirrors. We develop non profit software and the big guys make millions and we make poor wages. He cuts all the developers after products made and doesn’t invest back into company it lines his and his buddies pockets. Con artist.

Hey when is the jury trial for Mikes DUI ? Hope it didn’t get swept under the rug. That video made us think what if he hit someone. He never offered a public apology. This shows the kind of man he is. Had a good friend who did something like this only to have a DUI person hit a family member and that woke him up but it was too late. I hope this is a wake up call for Mike and he focuses on himself. Retire Mike don’t sweep this under the rug.

It comes down to CEO and Chairman are all about themself’s and their investors. The employees are pawns in the Wall Street world. Just hope the stock gets to 90 and these guys buy us out. I really wish some news outlet would do a report on this smoke and mirrors company. And fellow workers Mike contract up next year so there is hope. Hope for buy out before that happens. This is worst run company I have worked for.

Hey Blackbaud leadership... Where is my $90 per share upside you mentioned at earnings... Oh yeah no where to be seen because you cannot deliver on your promise. Sell to Clearlake already!

Someone said it correct. Real men admit their mistakes. He could have hurt him self and others. When does he own up to mistake? Hope Wall Street see the out of control CEO. We have no respect for him. Wake up Wall Street

Hey C Suite especially you Mr charged with DUI CEO and MR sell sell sell my stock all the time CFO I am patiently waiting to see all that great upside in the stock you used to turn down Clearlake. Obviously your lets arbitrarily pump up the stock repurchase program isn't working because I would still be ahead if Clearlake purchased my stock at $80.00. You guys su-k and can't deliver on anything you say you are just bleeding this company dry like a personal atm and using its clout in the Charlestown area to skip on dui charges. All of you need to be fired. To my recently let go friends I am sorry but you are better off.

Great advice hope he enjoys retirement. Mike not a popularity contest you made us rich richer. Good show Mike now go retire and relax. I made enough thanks for the returns bud. Time to get new blood at the top. You had a good run.

Freedom of speech is why I love america. Too bad we couldn’t vote these leaders in our company. They all would have been gone years ago.

Mike had a good run take your money and go retire Mike. I agree with the guy below enjoy family and retire. You should run for office start with mayor then governor. That’s your calling you would be great. President of pit bull rescue group is another one. Also fact a pit bull mauled a family member recently don’t turn your back.

But to be honest you’re a natural at politics. We don’t hate you just trying to give advice. We made you what you are and you forgot about us. Think about it Mike. Last word you love your woman. I know first hand. Retire and get help please.

I guess u can get out of dui if you know someone. Very sad for those of us that lost loved ones to drunks.

What happened to DUI ? Thank god they stopped him before he hurt someone. Maybe this was the wake up call he needed. Next his company will wake up and ask him to retire please.

Rumors that some folks at or near retirement age are being offered a package to retire.

I hope this doesn't lead to yet another round of layoffs if they cannot shrink headcount enough through this and general attrition by end of q2.

Time to retire Mike go enjoy life. Sail off into the sunset and forget about 9 to 5. Get a hobby save some pit bulls and spend time with family. Put this corp life behind you. God bless friend.

The one friend/family member bought by Mike steps up. Bottom line he was drunk and could have hurt someone and doesn’t own up to it. What do you have to say about that. It is a bad example of a CEO. If he won’t step up and say he is sorry and get help then don’t expect people to be supportive. I know what drunk driving can do to families. Forget the CEO job what he did was wrong.

Curious how many of these “Pro Mike” posts are management (not ELT). Any management who has digested Mike’s plan to sc--w them out of a merit increase only to give it to others needs their head checked! Which makes me think the Pro Mike post is either a member of the ELT or one of Mike’s family members.

In the 10 years since Mike joined, revenue has gone from $500m to $1bn, helping more than triple the number of non profits deliver their mission and doubled the share price

Mike has had a pretty good “failure”

And have there been layoffs and other negatives along the way, absolutely. But name a tech company who hasn’t? Google, Microsoft etc

He hasn’t been the perfect CEO but a little balance in the debate is ok

Mike is a good guy; I'm surprised by the amount of criticism he gets here. RE was on its last legs when he joined and he invested to modernize the tech (cloud, Sky etc)

M&A has been hit and miss but most tech companies got carried away at the time

When he leaves, there is a strong foundation to build from and the next owners could be far more aggressive at chasing the rule of 40 (or 60 ?) - careful what you wish for...

Comes down to they aren’t leaving until stock price jumps to 90 min. Greedy guys. What happened to his dui

Mike needs to go no one likes him except his buddies. Who came up with pie face it’s perfect LOL or ponzi Mike. You have to hand it to him get the most value for share holders and greedy Mike. The guy is retirement age soon he will be moving to Florida and end up at Margaritaville. He can act like a big shot with his tech school engineering associates degree. Mike we will have a big going away party for you with open bar. We will even Uber you home or to your girl friends house. We won’t tell your wife. Wait this is on the Internet. Great comments below. It was fun having lunch with a few of you and talk about how bad things are.

Should it surprise anyone that within hours of the court disallowing class certification we hear that the board and C suite have turned down the Clearlake bid because they see growth well beyond $80.00. Sh-t no

It would not surprise me if these greedy, middle aged out of touch with workforce effers have stock options inbound from the ruling. This isn't a growth of the company issue. This is, if they sell they lose their personal atm issue.

There is no more innovation or leadership at the C level it all exists in the middle management which the C level treat like dog sh-t. Just look at the engagement survey. I mean come on how many high performing managers were axed last year in order for the C suite to speed up their golden rule of 40. Now this year no raises for anyone on any type of ltip or other incentive plan. Again gotta get that golden boy rule of 40 (which is so early 2000's by the way) Come on we all know that's not true, C level will get their pay bumps and additional stock because they have contracts for that sh-t. So its once again the employees the true rock stars that get sc--wed.

Oh and that stock buyback is just another way to temporarily raise the stock price. Less shares on the market will trade for higher but that's not a long term plan. They sped up the repurchase to try and bump the price to have Clearlake bump their price. The issue is the C suite cannot manage to keep the stock up without either share repurchases or massive layoffs that cut costs and look good to wall street for a short time.

Its also hard to get the stock where they want and where they promise from their ivory offices or maybe their local golf course because they cannot lead the company. Blackbaud ceased innovating years ago. Call it what it has been for years a for profit Merges and Acquisitions company. Then you know what happens, they blame the most recent sh-t purchase for holding them back like they are doing now with Everefi. They have done it in the past to wall street on multiple occasions after acquisitions. They blame slow growth and earnings/revenue issues on whatever the last purchase was. You could set your clock to it. Acquire a company because we cannot innovate, miss some number in earnings blame said company for that problem. Its how this C suite thinks. They cannot innovate and think outside the box and they are being surrounded by other companies that can so they panic, make a bad deal to buy up a new better software and then don't know how to handle the purchase. Its a viscous cycle they have been buying and blaming look at Everfi, Convio, Kintera, Just giving, Micro edge they blame the acquisition every single time.

Lets also throw in this time the massive amount of money spent on data breach settlements because the C suite didn't listen to middle management about its lackluster cyber security. Literally they just did nothing when they were informed there were issues. How can there be growth when paying for sh-t like that.

While I am not sure Clearlake is the solution, not sure how Blackbaud as a company fits a portfolio with their investments in things like Chelsea football and the Saudi PIF. I will ask can it be worse. Clearlake clearly knows what they are doing to get to the level of investing they are at. So they must be doing something right.

The C suite wants it to be all about them and how awesome they are. They really think that Clearlake needs Blackbaud so they should pay more. Fools. Clearlake needs Blackbaud like a teen needs a zit on prom night. Clearlake may want Blackbaud but it is in fact Blackbaud that needs Clearlake.

This C suite is too effing greedy to do what's right by the company. They will not sell to Clearlake because some folks with a couple years on contracts likely have major incentive stock bonus that they want to get and selling now means they lose them.

The C just isn't as good as it thinks it is and with the poison pill gone Clearlake could just launch a hostile takeover because you know Blackbaud would be a rounding error on their balance sheet. Clearlake is not stupid, they know this C suite wont see and maintain growth and they will just lurk and pounce when the time is right and the stock dips a bit more.