There are no new sales to speak of therefore where will funding for severance or keeping RIGP funded above 80% come from? How will they finance the promised increases for anyone left after July 1st? Any available cash has been used to support Icky’s initiatives, buy up stock, bankrolling Nathenson, Yates and all the new chiefs and SVPs. Wonder if Norwalk will eliminate severance for anyone they can’t rebadge as HCL? Will Norwalk take a page out of former XBS(Xerox Business Services) playbook with mandatory unpaid 1 week layoffs; demanding money from suppliers aka “dialing for dollars”. Will be interesting and heartbreaking to see what unethical and devious plans they have devised for the next chapter in “The Death of Xerox” being by directed by Icky, JohnV and SteveB and their supporting puppets.
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By the time they are ready to sell this company will be half way down the c-apper, the Global cores that would make the sale appealing are crashing and burning because this whole HCL fiasco cause a lot of talent to go out the door, i would hope any potential buyer would do their due diligence and walk way from any deal!!
Sales are already expected to go down with the easy built-in excuse of cost-cutting transformation. If Xerox shows costs were cut faster than the reduction in revenue, the market will be very forgiving.
The cost-cutting excuse will buy Senior Execs more time, but they really only need to get to the end of the 3rd quarter before we see a press release about an acquisition of Xerox (maybe early 4th quarter)
EFI was sold today to a private equity firm at a 45% premium on the 90-day moving average of the stock. Good news for Icahn.
As of today, a 25% premium on XRX stock garners $43/share. Above his initial $40/share target.
We are getting close to the end game.
Are sales plummeting. And if that is actually happening will we see investor pressure to do something about it? And what could be done? Or is it too late?
No facts? just all conjecture.
The so-called leaders at XBS, XRX and HCL are probably baffled as to how awful this whole thing has gone thus far. Sales plummeting. Expenses rising. Customers are angry and leaving. Competitors are mocking XBS and XRX. And employees - after getting bent over for months now - are leaving for better paying jobs elsewhere because the economy is GREAT. That's what happens when you hand over a talented knowledgable group of employees to a bunch of barely English speaking HCL mo--ns that can't even get a conference call to work right and don't offer retention bonuses to keep the key players on board. So what's next? They are probably freaking out and scheduling a meeting sooner than later between themselves to figure it all out after the house has already crumbled. Take note, potential buyers - you are better off sending money to that Nigerian prince. Way to go dummies!!!!