All is quiet now. In about 2 months, the next storm will start hitting. Restructuring. Layoff plans. Client terminations. Market retreat. Batten down the hatches. The Leaks have begun anew. Digital Transformation is in a life raft. Front line employees in some departments are drowning. Tools, Tech and real organic sales are severely shark bit. How does the NPS score compare to our peers ? Who is going to be truthful and transparent and disclose that ? Outflows continue to outpace inflows. Can’t continue that forever. Executive turnover. BQS lurks. Ratings agencies are concerned. Market is way up. Time to close regional offices. Farm out Cap Management. Cut IT. Executive pay. And the beat goes on. When will more layoffs come ?
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@dv
Almost funny - until you actually think about it. You should read the book instead of just googling things to appear educated. Spoiler alert: Ahab doesn't survive and his entire crew, except for Ishmael, dies as well. So, I'm sorry but "they" didn't write a novel. Fyi, Moby Di-k was written by Melville. You're welcome.
@dt they wrote a successful novel???
@dm
Remind me ... what happens to Ahab and his crew?
@dj The white whale tasks me; he heaps me. Yet he is but a mask.
@OP
Still hunting that white whale, huh Ahab?
By the numbers, the employee count is still about 50-60 employees too much. If 50-60 employees were cut by the Fall, the firm would break even by year end and into next year. If Boca Property sells for $40M, then by eliminating 50-60 employees, there should be a small gain by year end and $10M-$20M in 2026. None from operations but from because of the smoke and mirror sale. Will it be enough to stave off a ratings downgrade ? It might just work but there is not a lot of time. A better strategy would be to raise fees. Put in place revenue enhancers fast. It is slow to deliver on revenue gains. Cut real estate holdings. Cut sales reps. Cut Exec Perks and VP and above pay. Slash IT and Capital Management. But you can't cut your way to profitability. You have to raise fees across the Board. The question is: when is the firm going to start advertising again ? There is no marketing and it is devastating. Eliminate community partnership award and corporate giveaways and poor the difference into radio and targeted ads.