Morse plc signals SOS Tuesday, July 15, 2008
I was sorry to read that Morse plc was in trouble and that its' shares had dived after the technology consultancy warned that its final-quarter trading would be hit as clients reduced discretionary spending.
You may recall that the former "tin" reseller of servers into the corporate world had elected to transform itself into a consultancy business, begun following the acquisition of CSTIM, whom I knew well as a competitor of a consultancy business I co-ran some years ago.
The company also said that Kevin Alcock, chief executive for just over a year, was leaving with immediate effect. Kevin had formerly been the co-head of CSTIM and I confess I was surprised that he had been promoted to the Group CEO role, given it was a significantly different business from CSTIM. Sadly, it seems the Morse Board came to the same conclusion. I wish him well with his next venture.
- At 10:56 PM, said...
Morse soon to be no longer; I think
No plan No strategy and a person leading the business from a 20 year old business model of selling boxes.
It will never work - and it clearly isnt.
Shame, but no value left in this business.
- At 9:43 AM, said...
Avoid this company at all costs. If you do have to work with them get a good lawyer to review the contract and ask for the hidden terms and conditions.