To all,
If you are still hoping Zitel/MD will get big contracts to justify its high p/e, read the following press release. As I indicated in my previous postings, no one can get big contracts except big and established firms. And there is no such thing as non-disclosure contracts. For those who are new to this thread and considering establishing a position in Zitel, please read my previous postings before you decide. There are only five so it won't take you a long time, but it will definitely save you $$$. Please be aware that the Y2K problem is real and big (unlike some shorts' claim), but Zitel/MD just won't get enough earning to justify its price.
PLEASANTON, Calif.--(BUSINESS WIRE)--Feb. 24, 1997--PeopleSoft,
a leading provider of enterprise applications software, announced
today that the Office of the State Comptroller of the State of New
York has licensed PeopleSoft Payroll, and extended its license for
PeopleSoft HR.
This multi-million- dollar licensing agreement, completed in late
1996, capped a year during which PeopleSoft signed licensing
agreements with over 50 new public sector customers.
New York State Chooses PeopleSoft for Very Large Centralized Payroll
Processing one of the largest centralized payrolls in the world,
New York State's PeopleSoft Payroll implementation will ultimately
serve over 400 agency locations with 249,000 employees. The
Comptroller's decision to license PeopleSoft applications followed a
multi-year competitive evaluation, according to Brian Dinon,
Assistant Deputy Comptroller for the State of New York.
"We selected PeopleSoft because we wanted to go with an industry
leader that was fully committed to the future. PeopleSoft has
demonstrated its capacity for continual technology improvement,"
said Dinon. "We also examined the quality and breadth of each
software supplier's partnerships, particularly with leading systems
integrators."
New York State has begun implementation of the PeopleSoft
applications, working with two PeopleSoft partners, systems
integrators Andersen Consulting and IBM.
Taking Leadership on the Year 2000 Issue
Year 2000 compliance and speed of implementation were driving
issues for the State of New York. "Our current system will
experience significant problems as of February 1st, 1999," said
Dinon. "We have an absolute requirement that our new system be fully
implemented by January 1st, 1999."
New York State's Office of the State Comptroller has taken a
leadership role in modernizing its centralized payroll to maximize
all of New York State's human resources assets. Because of this, and
the magnitude of its information processing requirements, the New
York State Comptroller's Office has been sought out by other states
for advice on replacing legacy systems. "We have received queries
from the states of New Jersey, Massachusetts, Colorado, and others,
as well as major cities including New York City and Los Angeles,"
said Dinon. "Issues of cost and productivity, along with the Year
2000 challenge, have become increasingly important to public sector
organizations." |
