So they were grooming him for the past month, according to Stern's email. Wow, they just keep us in the dark up to the last possible minute. I don't believe anything that comes out of corps mouth, nothing!
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Congress study the impacts of the 1978 chapter 11 bankruptcy proceedings impact on successful reorganization’s. It concluded that between 10-27% of all businesses succeed after chapter 11. Wither the higher % being skewed towards smaller companies
So we shall see where we land
Those that are refusing to see the blatantly obvious car crash Sungard A-- has become are either high or stupid. People have been fired for signing contracts with financially strapped, “just out of bankruptcy” companies. Would you if the tables were turned??? No. Good luck going up against others who haven’t balked on $900M in debt. Dead company walking. If you can’t realize this by now, you are hopeless.
Not sure who those code named companies are targeted in last post... doesn’t matter..... I feel bad for all employees.... get out now... new owners have only 1 priority.....give me back my money....
-1nse
Let me guess you now work at l0gicw0rks or T4ng0 n3tw0rks ...
Look out AWS, MS, Google, sgas has sprinted out of chapter 11 and are now aiming our strategy and balance sheet at your destruction..... bhaaaaaaa. Um, back to reality sgas owes its owners back ~$900+ million and they want their money now....
I have to believe that all this negativity is coming from ego hits to those asked to leave. Most likely high level management who did nothing to improve the business like former Sales and operations leadership.
Still sour but yet did nothing to change or advance the outcome.
Lunch is so 20 years ago..... previous sgas ceo said offer was 20 years out of date and LT had not paid attention to market changes for past several years....new ceo says we are staying the course... yep, you are soooo right...... nothing to see here....
You people are crazy out of touch and looking for a reason to fail. Wow. Half the sh-- you say is completely bogus... but yet you all agree to it. Here’s an idea. How about you all go out to Lunch on Monday to b--ch about Your job and never come back. This company and the customers for that matter are much better off with out you.
Vultures are a valuable part of the circle of life.... they take care of removing road k--l... at this point I don’t blame them... they lost a lot of money... the blame goes to the LT that hadn’t been paying attention to market for several years and let sgas become 20 years out of date....
No magic at this point.... new owners lost ~$900 million in defaulted loans... and in return they got a company with ~$340m in assets... all the cash needed to truly turn things around will be diverted to making them whole (with profit for their effort...) as first priority.... once that is done they will sell for penny’s on dollar or sell assets at fire sale price.... UK data center was not part of chapter 11 so I would think that would be most likely to be sold first... remember new sgas owners are not in business to run companies... they are in business to recoup a return on their lost profits from defaulted loans with highest return in the shortest amount of time...
Agreed he said continue what Andy was doing. Lol serious! No new plan nothing, we are dog meat trust me if you think I am wrong just wait you will see. He is just a figure head. Vultures will pick us apart
I believe Sales was looking for the "magic bullet" statement from Mike R. on the call today. He couldn't deliver since the vultures have established the agenda....."Where's Our Money" & "What DC Can We Sell Next"
A no win situation for the employees.
Or HR lead, what what about the sgas culture..?? Well boss the culture is passive aggressive, so it’s dysfunctional and employee morale is low... what have tried to fix it..??? Well we told them on a all hands call that it’s their fault... got it...
You forgot sales, hey Global EVP of Sales what you got? Bueehler? Binford? Buehler?// Where is he? We don't know boss he hasn't been here in the 2 years since he was hired. Where is he? Good question, check Canada, or Detroit.
I can only imagine new ceo’s First mtg with his new LT team... “so, how do we get this machine growing... product lead, what do we have..?? Well, we have offers that are 20 years out of date and we haven’t been paying attention the last few years... got it... ops, we need our ops team out talking with clients... ah, boss we sent them to India to save money.... got it, cfo, what are the most profitable products...?? Um, well boss as mentioned before, we haven’t been paying attention for a while, so we don’t real cost models at the product level... got it.... well, what is working..?? Well, boss we went thru chapter 11 in a day so we have that going for us...!!
Sterns getting millions for bankrupting a company
Head of product must go! Private cloud is the most id--tic strategy that is based on building their own infrastructure and not leveraging AWS private cloud. They do all the work, responsible for hardware, software, development, etc. Have compliant products and give the customers what they need. Hugely reduces expenses and addresses customer requirements. Public, private and on-premises solutions without SG having to deal with huge capital. Does the head of product even know that AWS has a private cloud solution? Why would you build your own? You won't win competing with AWS (MS or Google either).
Legacy products that don't sell, end them. Get an exist strategy to their own cloud and move the handful of customers on the platform off. Customers get the solution they need to run their business.
Sales EVP must go. If the sales people do not have the technical acumen to talk at a level they can speak to C level and lower to make a sale, they have to go as well. Sales cycle takes way too long because we can't express in detail how we can provide technical services.
Reach into the Operations teams and find people who want to move into a sales position. These people can talk the talk and walk the walk. They have real world experience in the technology and understand the limits and what can be done.
Don't kid yourself. Mike Robinson is likely here for a few years. Either make it profitable by scaling back and making the products sell or it dies. He then moves onto the next distressed company.
I knew he was out, just don't know why they'd keep us in the dark up until now. Even in his final moments, he still can't be a stand up guy and be honest with us hard working employees - as he calls us.
Did you seriously think Stern would be kept??? He had to go. So do others. Now, we move into the final chapter.
LOL . Broadview was owned by Windstream who went Chapter 11 in February 2019
Yep, background in infrastructure and telecom, former CEO at Broadview Networks, prior to Windstream acquiring them. With his background, he will surely take Sungard into the future of cloud, AI, and other emerging technology markets!!! We are on our way up.....said no one ever.....