There's a reason the execs get these packages. The amount of work put into reducing the debt to make the company buyable is nothing less then amazing. If burger flippers could do it all of you would be getting golden parachutes. Soon you will be ss&c's problem not mine.
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Reducing the debt monumental task... Hell I could have done it for less than half of what Hooleys been paid.
The third reply to this post was spot on. Thanks for your comment. It was quality.
Well, seeing that we have the guy who ruined sprint on our board of directors, I'm not surprised that our execs lack the basic talent to make the company run and instead plunder it for what they could. The BOD made this crap scenario possible. Now the rest of us get screwed.
As a former executive of a company much larger than DST I would disagree completely with the executive above. Being that I still reside on the board I hope that I see a DST executive resume is brought before at some point in the future so we can evaluate self professed savant.
The was DST went about reducing its debt liabilities was not innovative and required no thought. The percentage of debt the company needed to hold in order to be marketable was a standard and easily calculable number. The approach DST took was simple. Once the math was done they evaluated what high debt they could sell the highest and the fastest. When that came up short the layoffs started until the numbers were hit.
The reality that other executives such as myself are seeing about the DST executives is that if these DST executives had even a fraction of the talent they thought they had, they would have been able to take these under preforming companies and developed them into very innovative companies that are steering the market because the market is there and craving these services. Unfortunately because of the DST executives extreme failure of leadership it is well known that SS&C is now going to have to sell off these companies in order to clean up the mess.
In the 80's I am a friend were attending Rockhurst and UMKC. There were two companies in Kansas City that everyone had a goal of working for either upon graduation or an internship. Those two were Hallmark and DST. Although Hallmark has constricted due to changing market, DST has stumbled due to poor leadership. I was so happy to gain a position at DST and ended up spending 20 years there....but found myself happier leaving as I was joining 20 years prior.
Oh please God, let me be on the list to be laid off soon! I can’t take it anymore. DST is a joke of a company. Can anyone name the last product that was actually built by DST and taken to market? How many millions of dollars have been wasted on development of products that end up in the trash? It’s crazy to think that 18 years ago I felt honored to have gotten a job here and was proud to say where I work....now I’m begging to be let go. I sure do wish they would follow Sprints lead and take volunteers. But heck....nobody would be left!
They couldn't manage the company and failed as leaders so they had to sell. the company couldn't sustain the large salaries. 9 VP's in HR.....What a joke
Layoff dates matter not anymore, we all know the end is near. Overworked employees being told to complete wish lists that ignorant senior management hear other companies being run by true leaders are doing. Senior management having the iq level of squirrels want these tasks done in 1/16 the time and half a#! as possible. Meanwhile customers are dropping like flys while the employees sit back and watch the results of a company lead by squirrels doing nothing but running around with nuts in there mouth all day.
DST stands for Don't Stay There. As soon as they thing you can be replaced with programmers in India, you are laid off.
"Soon you will be ss&c's problem not mine."
That's a d--k comment. Calling someone out for being a d--k is perfectly acceptable in that context. And, if you have a problem with anonymity and this website - then maybe don't use the internet?
I did leave DST and my stress level disappeared, I received 6% RAISES, am treated with respect. Its a different world. Nobody is seeking to track or place blame where I work, they just fix the problem. I wonder if Bob Tritt (a V.P.) was pushed out by Hooley so he would not be part of the group enriched by the takeover. Anyone know the story on Tritt? Was it political?
I agree completely that the current CIO is the most clueless and unprofessional officer this company has ever had. Every meeting I have been in with her I have wanted to yell "YOU HAVE NO CLUE WHAT YOU ARE TALKING ABOUT". She has no perception of the professional people this company has had the fortune to have over the years. She also has no clue about how this company actually operates. The people referred to as "burger flippers" are the reason this company has and retains the clients it has, yet they are treated as throw-aways by the current crop of officers. The merit pool for them is insulting and doesn't even keep up with inflation. If a cost of living increase was also given, then it would be fine, but it isn't.
After the merger is complete, perhaps she can take a few weeks to attend some basic English classes taught by a local elementary school? Most burger flippers know the difference between ‘then’ & ‘than’.