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Cindy, You wanna comment on EDS?

Anonymous
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Joined: Nov 22, 2008
Posts: 18944
Their stock has dropped from about $40 a week ago to around $10 yesterday and today. What a blow. Hope you don't own it. If you do, I can just imagine how much it hurts. I am thinking about jumping in and buying it so maybe Cindy has some inside tips .
Probably will wait til' the dust settles.
Anyone else, feel free to comment.
Anonymous
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Joined: Nov 22, 2008
Posts: 18944
Probably not. I am going through the boards and see a lot of unhappy past and present EDSers. Maybe you are one of them. I hope you guys don't have more layoffs which might be inevitable now.
Cindy Glass
"The Hood"
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Joined: Sep 29, 2000
Posts: 8521
Actually the event has been quite well documented already. The situation is basically that EDS was predicting 74 cents per share dividend for this quarter. Then the Enron and WorldCom (along with KMart and etc) stuff hit the market and EVERYONE ran scared. Bacially every business in America came to a screeching halt on spending - especially on IT spending.
EDS is one of the largest outsourcers for IT services in the World. No one spends - no income. No income - no dividends.
Of course EDS is just the flagship for the entire IT service industry. The concern is that this foretells what EVERY IT service company in America is about to disclose.
So - yes this is REALLY black for the stock market. However I just can not believe that America (and the world) is just going to STOP spending money on IT forever. Doesn't wash. Therefore one would think that when the immediate scare is over, that the spending will slowly start back up again, and the stock will respond.
Honest truth - my husband and I seriously talked about buying up some stock last night. Our main problem is that we don't have any money to do that with .
Lucky (??) for me my 401K was pitifully lacking in funds before this event, so I barely noticed it personally.


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Cindy Glass
"The Hood"
Sheriff

Joined: Sep 29, 2000
Posts: 8521
As for the boards - that is like reading the Enquirer to get your news :roll: . The world is full of people who seem to have nothing better to do than bitch - and one of their favorite topics is whereever they happen to be working.
There are ALOT of employees at EDS (140,000) so there are ALOT of folks to moan and groan.
The facts are that EDS has one of the largest re-hire rates of any company in the world. I can not tell you how many people have left the company to grab some bigger bucks or go where the grass is greener, and then a year or so later come back with their tail between their legs asking for their old job back. They just did not REALIZE how good that they had it.
EDS has always been exceptionally good to me. As a rule they take care of their own, they are above all STEADY and clear on what they expect.
Much of the moaning on the boards seems to be that people like to gripe about the CEO getting so much money. But that is like complaining just because a movie star makes more than I do. There is no percentage in that kind of groaning.
Hoever - I wouldn't want to be Dick Brown right at this moment .
Anonymous
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Joined: Nov 22, 2008
Posts: 18944
Thanks! Do you guys expect more layoffs?
Cindy Glass
"The Hood"
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Joined: Sep 29, 2000
Posts: 8521
None have been announced.
Shura Balaganov
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Joined: Apr 22, 2002
Posts: 664
Originally posted by Cindy Glass:
I can not tell you how many people have left the company to grab some bigger bucks or go where the grass is greener, and then a year or so later come back with their tail between their legs asking for their old job back.

I disagree with tail between their legs description. I worked with a number of people who quit EDS, and I know a few who still work for them. It is such a big company, with so many affiliates and subsidiaries, that there's no way anyone can tell how it treats people across the board. Guys I know speak pretty highly about EDS, although some of them don't regred quitting.
Now that I read what I posted...it's mostly blah-blah
Shura


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Rufus BugleWeed
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Joined: Feb 22, 2002
Posts: 1551
Dick Brown? Does he drive a truck for UPS?
Cindy Glass
"The Hood"
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Joined: Sep 29, 2000
Posts: 8521
Soon . . . soon .
Paul Stevens
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Joined: May 17, 2001
Posts: 2823
You mean layoffs like the 16000 by HP?
Anonymous
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Joined: Nov 22, 2008
Posts: 18944
Of course EDS is just the flagship for the entire IT service industry. The concern is that this foretells what EVERY IT service company in America is about to disclose.

The IT Service industry has already been hit pretty badly. To EDS's credit they have actually held up pretty well thru the downturn/recession. Consider the fact that a lot of IT service shops have closed and dissapeared from the scene.
The stock cratered due to the huge miss on earning expectations. The wall street types don't like surprises hence the dumping.
Mark Howard
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Joined: Feb 14, 2001
Posts: 285
Dick Brown? Now there's a name I remember with a smile
I worked as a contractor on an EDS project in the UK for a couple of years, and each Monday morning, like clockwork, you would get an hand-written email from none other than Dick Brown himself, extolling the virtues of EDS and rallying up the motivation of his employees in an inimitable style second to none.
Good ol' Dick. I miss those emails. Reminds me of a time when I was young and life seemed a lot more simple
Cindy Glass
"The Hood"
Sheriff

Joined: Sep 29, 2000
Posts: 8521
Damn!! I wish we had really had some money to buy this stock on Monday when it was $10. We would have made 40% on our investment in a WEEK!!
Its skirting $14 now.
.
Paul Stevens
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Joined: May 17, 2001
Posts: 2823
Of course that doesn't mention the huge hit in the last couple of years You remember when it was over 60.
Cindy Glass
"The Hood"
Sheriff

Joined: Sep 29, 2000
Posts: 8521
It's only a hit it you have any :roll: .
And then it is only a hit if you sell. Since my few shares are just going to sit there for another 15 years - by then I figure it will be back and I will never have felt any pain.
Anonymous
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Joined: Nov 22, 2008
Posts: 18944
Whao! All this sounds like plenty of money! First step, how do I buy EDS stocks from Singapore? I have $1000.
 
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