Q3 earnings slides are out, and it’s another disaster. 13% revenue decline with every sector of the business down over prior year. But of course Cengage Unlimited is an unmitigated success! MH is a joke and needs to be run out of the company yesterday.
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Cengage is filled with a bunch of girls lying to each other and homos-xual men playing along...
If Unlimited is ultimately successful, it means that content is indeed viewed as a commodity and the model can and will be easily copied by Pearson and McGraw. Cengage will quickly lose whatever share they gained, and a price war will erupt since that will be the only differentiator between the 3 companies' products. Any economist (does Cengage know any??) will tell you this is the worst position for a firm to be in. Keep in mind that's the best case scenario for unlimited! If it's not successful, it means that instructors do not view content as a commodity. Either way you slice it, Unlimited is a loser.
MH did everything he could to claim that Unlimited wasn't responsible for the shuttering of SF--"we weren't competitive here" etc--everyone saw through it. Biggest problem they have is that this is a fear-based organization populated mostly by ex-Pearson hacks and Thomson legacy s----ups who care not at all about the vision and only their paycheck and playing the political game. Senior leadership are not leaders and can't even align in front of staff. Unlimited was the big Hail Mary pass--"content is just a commodity and we will just compete on price" (and the c-appy MindTap platform). Grim, depressing environment long before the SF shutdown.
Until you've been in a meeting with Cengage senior leaders you've never seen such a completely fear-based culture (I bet executive team meetings come across like "The Death of Stalin".)
I agree, Cengage has become nothing more than a depository for aged alcoholic pharmaceutical reps and the g-- mafia. I was invited to presidents club 8 years in a row due to consistent goal achievement but the last three years mostly it was filled with cultist sycophants and not any achievers, transforming the event into a circle jerk rather than a meaningful event. From the CEO's to the DM's all need to be eradicated. The fat will be trimmed and the aged wino pharmacy reps and shrill drunken DM's will be selling furniture no doubt...
Lol, who hurt you
Did you happen to miss out on the vapid and inebriated ‘sorority - house’ experience in college? If so and you wanted to finally experience this backstabbing shallow culture of irrelevancy with matured wine-aunts and aged male cheerleaders, then Cengage is the place for you!
Did you ever want to work in an industry that’s in massive decline? Did you ever want to work in a cynical fake organization that’s shrinking and eroding, and their only strategy is to downsize and glob someone else’s responsibilities onto you without any hope for bonuses or increase in pay for the extra work? Then, Cengage is for you…
Did you ever want to bolster your career and sense of accomplishment by spending weekends and evenings buried in a ridiculous out dated constantly crashing CRM spending hours feeding tedious course data into the matrix none of which is relevant or ever even used? Do you want to devote your life to ridiculous irrelevancy and see absolutely nothing in return? Cengage may be for you.
Did you want to be forced to interact with worthless DM’s who’s only duty is to enforce unquestioning indoctrination and report those they find actually thinking for themselves to the regional VP and various irrelevant and incompetent laughable mid-level ‘specialists’? Do you want to be labelled ‘suspect’ if it’s discovered you’re a critical thinker with common sense ideas and then targeted for harassment? If so, Cengage is for you!
Did you ever want to be forced to go to regional and national sales dinners with the most obnoxious post college sorority girls and wine aunts and be duty bound to witness your mo--nic DM slur her incoherent thoughts at every function after copious amounts of cheap wine and collective stupidity again and again? Did you ever want to be surrounded by indoctrinated cult members who not only can’t see the ‘writing on the wall’ but are even unable to discern reality from fantasy? If so, Cengage might be for you…
Did you ever want to work for a manipulative artificial environment where all the marketing is SJW based nonsense used to guilt professors and students into believing a false narrative? If so, this is the perfect place for you! https://youtu.be/NR95L5H8KD4
Are you a vapid, lip stick smeared mature wine – aunt or mis gendered cheerleader and want unconditional validation among your peers? Then Cengage may be just the place for you…
when does the streamlining begin?
did MH announce layoffs on the call friday?
The company lost $43 million and MH is declaring CU a success. The emperor has no clothes
About what I expected. I left this cult last year, it was so obvious CU was another loser, a flop and impossible to generate any revenue with this lame market cannibalization scheme. How can the investors allow this to continue?