After over a year of not having them, forecast calls have resumed. Needless to say- the ET has been “surprised” at the losses being forecasted- to the point of not believing the managers forecasts, and they still do not have access to a lot of reporting that would have alerted them to the 10s of millions being lost. This reorg is a massive miss. I don't see in what world an IPO will happen. Who would invest in this dumpster fire.
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I forecast an ET uncomfortable in Vegas since they are hated by employees.
There was an article about this in the WSJ yesterday. They're called "zombie funds." PE firms bought in too high and can't get out.
@a6 they aren’t coming for their money. They’ve held cengage entirely too long thinking they’d get their money back- they should’ve taken the loss in the early 2010s but were greedy. Now they need to offload Cengage ASAP because it’s been 20 years and become a massive liability. They’ve lost billions on Cengage. Mostly because of the horrible ET team they’ve had at the helm.
I think this is the plan. Private equity are coming for their $, I don’t think this company will last much past September
Bef