Check out the year we got caught with our hands in the cookie jar. Taking all of the contract up front is AGAINST THE SEC RULES. Yet wour spokesperson got on TV and said, "We followed generally accepted accounting practices." Well, we have been trying to recover ever since. We spend $1B trying to make SOHO go and then when the aforementioned c-ap hit the fan we needed to sell 50% of our interest to FX. THAT was the absolute beginning of the end.
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UB was a POS.
When she was fostered on the rank and file
she was totally blank as to what was going on.Her communications were a joke throughout the company...and only served
to alienate the workers.Her only message was layoffs and cuts which she called her 3-5 year plan...year after year ...As a long term
employee it was sinful to watch good people
let go as she fatten her own pay with bonuses and perks..The Xerox Board of Directors sat idly by being politically correct so as not to offend when she should have been called down and fired for lack of
performance ...Disgraceful..
Oh, don't even bring up Ursula B. I just ate...
I agree with other post. When Xerox was churning it’s own base into services contracts by tens of millions at a time, and paid hundreds of thousands to reps and managers doing what was not appropriate accounting, it spelled doom. It set a precedent to Wall Street tha5 would never again be met. Then the ACS fiasco was really an attempted smokescreen that never worked.
Too bad the rank and file weren't asked. We would have told them Ursula was/is an id--t looking for fools with $$$. And Xerox stepped up.
Don’t forget U.B. Who made us go 6yrs without a raise to fund her acquision of ACS which went down in flames and opened the door to our current hostile takeover crew. Ah, but she was the political and media darling taking home $12mil a yr.