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Non-Tech : Labor Ready (LRW)
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To: Khris Vogel who wrote (281)8/31/1999 10:45:00 AM
From: Mike M  Read Replies (2) of 379
 
Had a talk with one of the principals the other day. He acknowledged that vacating the sales reps wasn't one of their better moves. That is being reversed and 70 had already been hired and another 35 or so will be by Wednesday(for offices doing 25K or more weekly).

I also asked about mass departures. He said there were more departures than they would like but turnover has always been a problem. They are trying to address that problem by better hiring and training. The veteran branch managers (four and five year experience) are not leaving in mass as has been suggested on this thread. They make very good money and are generally content.

Any complaints about building offices on top of offices are made by employees who don't understand the nature of the business. An office's circle of influence is approximately a 5-10 mile radius. Other offices lend to greater area presence which allows them to more readily fill requirements (filling labor shortage from one office with another) and is instrumental in plumb opportunities like the Super Bowl contract in Dade County....

July supposedly wasn't such a great month but August has been better and I would guess that the sales reps will get things back into high gear in the near term.

This stock is trading at about 18-19 times this year's earnings and seems pretty cheap at current growth rate.

Regards,

Mike

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