Thread regarding DST Systems layoffs

I surmised DST would go downhill and lay off staff back in 2008!

I surmised the decline and layoff of staff would come. In 2008 I was reading a business publication when I noticed a "DST exec" had other business interests besides DST. The guy had invested in a prize / lottery company. Thats when I realized this whole DST comglomorate was going to disappear. From Mutual frunds to lottery, what a shift in business style. It was called JackPot Rewards. You can still find info on the net:

"Mr. Dst Executive" invested in JackPot Rewards on Feb 1, 2008. This investment - Series A - JackPot Rewards - was valued at $16.7M.

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Post ID: @OP+1dexRS71

6 replies (most recent on top)

Shockingly, many on the DST Alum Facebook Group still revere the Toms like they were our peers, instead of people who exploited our labor to get rich and then let the Hooleys throw us out into the street.

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Post ID: @2bzhn+1dexRS71

You know there were 1,000,000 other things that could have been invested in. DST could have easily devoted 10 programmers to develop an application like EBAY, or Facebook, or Instagram. Or DST could have just thrown $100,000 into Bitcoin 10 years ago and it would be worth TRILLIONS! But no, the "same old -same old" and lets just ignore sub-accounting. Oh hey, lets do a gambling application! Yeah, gambling! I mean seriously!

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Post ID: @8bvn+1dexRS71

What I don't understand is why the "big Tom" who was with DST since the companies very beginning day would put his own money into a lottery and gambling venture. People paid weekly for a chance at winning a "big weekly prize". A chance mind you. Just a chance. Well I guess maybe it show the Valient Pharma investment was a gamble too. But there were plenty of other ways to invest profit sharing funds. I guess DST was more or a gambling mindset for the leaders than I realized. The sale of DST was a gamble on both parties parts. One party bought a slowing company, the other party saw their years of dedication to housing staff in KCMO and support of KCMO go away. It was a lose/lose. And the only good thing is there are so many jobs now that staff can leave and get something better in maybe 2 days time! So long, DST systems, wish I could say its been swell - but its been more like a thankless sweatshop run by mean managers

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Post ID: @5wbr+1dexRS71

Surprised Tomm would do thatt but its there on the net. He invested in some kind of lottery company while working at DST. Threw in over $16,000,000. Wonder how much he made on it? In any case, DST Systems Inc is as gone as the titanic. Its sunk and will never be seen again. Layoffs and people leaving, its history

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Post ID: @2svw+1dexRS71

Yeah i looked it up. So the DST leader would rather thrown 16 million in a lottery company than give it to DST employees as part of a reward system. Even Amazon gave $100,000 (or a free car) to 5 of its employees last month who were drawn at random for just getting a covid shot. Some of them got the covid shot long before the drawing was even though up or announced! But hey, I did get a $25 plaza gift certificate at Xmas time from DST. Thats like getting an extra $2.00 per month on your paycheck!

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Post ID: @1war+1dexRS71

I saw that story in the Kansas City Business Journal back in the day. I think the lottery was giving away a big cash prize each week. And the money it had left over was used for "civic purposes". And one of the Toms was either the founder or heavy hitter investor who would get a return on his investment. It has been gone for a while, guess it was not a success?

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Post ID: @imf+1dexRS71

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