They had a country club in Poughkeepsie for employees with pool facilities, golf course, gym, bowling alley, etc. etc. It was 'privatized' years ago. They also had a course in Sands Point, Long Island that was dumped. I'm surprised they still have one out there, must be that 'California lifesytle' <ggg>. IBM was a 'ten bagger' 5 years after Gerstner took over in 1993. I don't know if LU can do that well, but I'd bet they will recover, and it will take less time than IBM. I'm sure you recall that IBM management cut for years during the late 1980's/early 1990's with minimal effect, until they finally got rid of 'legacy management' in the form of John Akers, brought LVG in, and took that 8 billion dollar charge, which was the bottom.
Regards,
John |
