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Who can save Monster Government Solutions???
February 29, 2012 at 3:09 pm #154569
Suffice it to say, it’s been a rough couple of months for MGS. With a stock price below $7; either corporate management is taking its toll on the market or the market is taking its toll on corporate management. More local, MGS has had a string of setbacks: including recent layoffs, the loss of key personnel, project delays, and low morale All this comes shortly after I made my infamous (albeit prophetic) predictions of 2012.
So who can save MGS? The short answer is…drumroll…wait for it…ME! I can save MGS! http://www.youtube.com/watch?v=A5cneCgNA9U
Here’s the long answer…MGS is caught in a conundrum quite similar to its parent monster.com; milking a cash cow with no vision for the future business or means to deliver.
Management is just not there. At monster.com the stock sits below $7/share. This is dismal. It’s down over 80% in recent years. Sure they had the stock option backdating scandal, and the recession, but jobs are supposed to be on the uptick.
But the market smells blood. Just look at Revenue ($1B) Vs. Market Cap (< $850MM). For an internet company this is pathetic; unless that internet company has nothing new to offer the market.
MGS suffers from a lack of leadership and management. One of the benefits of starting your own business is that you have to do just about every job to get it up and running. That means you know everything (or in my case you just pretend).
Once I sold out in 2003, I stuck around monster for 3.5 years to help transfer my knowledge to anyone and everyone who would listen. I didn’t discriminate, although I poked fun at a few of you “smart” guys.
Ironically, during my tenure at MGS my bosses listened, my peers listened and so did my subordinates (although I think I actually worked for them).
More importantly, I listened to everyone. Was I a model employee? Nope. But my intentions were good and it always started with the customer, then the company, the employee and last was me. Anyone and Everyone who worked with me knew I delivered or I would find the resource that would deliver.
But today, MGS management can’t deliver. They don’t know who the customers are; what the agencies do or even how they use the systems they’ve sold to them; they can’t even explain or demo the products (truly sad).
This creates a bigger problem if monster.com tries to sell MGS. Suitors will soon find that it’s a rudderless ship.
So who would buy something they think they want or need, but don’t really understand only to find out that those in charge of what they bought don’t understand it either? Good question.
Further, this creates a bigger problem for MGS. If MGS is in the free fall I believe it’s in, a few capable employees will be able to step up; to a point. But because management doesn’t know the business of MGS, they are easily held hostage to higher pay, promotions, spot bonuses and the like.
But the good employees can only do so much before they succumb to the long hours, pressure and stress. There becomes a point where the money/perks aren’t worth it. They’ll start to think things like, “Is it really worth it for me to work this hard to keep this management team in place?”
This doesn’t happen when you have good management that understands its market, customers, products, competitors, and most importantly knows how to manage, lead and excite its resources.
I know what ails MGS and how to fix it. Most won’t agree with my methods/vision (chaotic at best) in the short term (and I bet most of you would like to see me fail trying), but I can turn MGS around.
Saving MGS won’t come cheap, but I’m just a phone call away.
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