The war in Syria might be over before I make my $2.20 back. Fundementally you are right but I'm not convinced that not adapting to a more globalized working environment is the right way. I confess I have worked with Cardno competitors in the past and very comfortably offshored work to India. At AECOM we did this for years with no problems. I was happy the CEO put this as a priority in his plan. This is just the modern way of operating. In Germany we send work to the Ukraine as it is half the cost. Clients don't know and don't care. Especially true now we have moved into commodity type services and consulting is mostly a commodity service these days.
CEO has recruited some big guns in the US now which has me thinking that business has already turned the corner and should match their Austrian division with contributions to profit. Then my $2 is looking good. What are your thoughts on what sort of share price return Crescent would be looking for when they sell? They have spent something like $300 million so my guess is 15% per year. So if they had it for 5 years they would be looking for a doubling of their average price, which would put the price at around $3. Let's see but you speculation is welcome.
CDD Price at posting:
59.0¢ Sentiment: Hold Disclosure: Held
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