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BearingPoint Commercial Services Business Approved for Sale to PricewaterhouseCoopers
May 28, 2009 4:08:00 PM
Copyright Business Wire 2009
Email Story Discuss on ZenoBank
View Additional ProfilesNEW YORK--(BUSINESS WIRE)-- BearingPoint, Inc. (OTCBB:BGPTE), a management and technology consulting firm, today announced that the sale of a significant portion of its North American Commercial Services business, including its Financial Services segment and associated Global Delivery Centers, to PricewaterhouseCoopers (PwC) has been approved by the Court overseeing its previously announced restructuring. Under the terms of its winning bid at an auction concluded earlier today, PwC will acquire the majority of BearingPoint's Commercial Services unit for $44 million, subject to contractual adjustments.
BearingPoint and PwC are working together to help ensure a seamless transition for clients and employees, including the continuity of existing engagement teams, to provide uninterrupted, world-class consulting services. Tom DeGarmo, executive vice president of Commercial Services, and his management team will join PwC to help provide leadership stability and continuity to aid in successful integration. Subject to customary closing conditions, the sale is expected to be finalized by the end of June.
About BearingPoint, Inc.
BearingPoint, Inc. (OTCBB:BGPTE) is a provider of management and technology consulting services to commercial and public sector organizations around the world. BearingPoint professionals have built a reputation for knowing what it takes to help clients achieve their goals, and working closely with them to get the job done. The Company's service offerings are designed to help its clients generate revenue, increase cost-effectiveness, manage regulatory compliance, integrate information and transition to next-generation technology. For more information, visit the Company's Web site at www.BearingPoint.com.
Some of the statements in this press release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations, estimates and projections. Words such as "will," "expects," "believes" and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events or our future financial performance that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. As a result, these statements speak only as of the date they were made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: BearingPoint, Inc.
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BearingPoint
Gina Giamanco
609-575-3049
gina.giamanco@bearingpoint.com
or
Aaron Bedy
404-538-5289
aaron.bedy@bearingpoint.com
May 20, 2009; BearingPoint Inc. (BGPTQ) committee of unsecured creditors filed with the U.S. Bankruptcy Court an objection to the Debtors' motion to approve a revised key employee incentive plan. According to the objection, the committee believes the Debtors cannot meet the requirements of Section 503(c)(1) or (c)(2) of the Bankruptcy code and that certain provisions of the revised KEIP act as retention payments to insiders, which is prohibited by the Bankruptcy Code. The committee also argues that the remainder of the revised KEIP should not be approved given that the Debtors have yet to provide the Court and the committee with a wind-down budget for the remainder of their Chapter 11 cases. According to the objection, the Debtors' plan to make payments of over $94 million in severance and PTO obligations to employees as part of the wind-down, in addition to the revised KEIP, further jeopardizes any return to unsecured creditors.
Chat about it here; http://investorshub.advfn.com/boards/board.aspx?board_id=15379
BearingPoint Closes Sale of Public Services Business to Deloitte
Company's Public Services Contracts and Employees to Transition to Deloitte; Court to Review Sale of BearingPoint's Commercial Services Business to PwC
May 8, 2009 3:55:00 PM
Copyright Business Wire 2009
Email Story Discuss on ZenoBank
View Additional ProfilesMCLEAN, Va.--(BUSINESS WIRE)-- BearingPoint, Inc. today announced that the sale of its North American Public Services business to Deloitte LLP (Deloitte) has been completed. Under the terms of the previously disclosed transaction, Deloitte acquired the majority of the Company's Public Services unit for $350 million.
BearingPoint and Deloitte are working together to help ensure a seamless transition for clients and employees, including the continuity of existing engagement teams, to provide uninterrupted, world-class consulting services. Also, Robin Lineberger, executive vice president of Public Services, and his management team have joined Deloitte, providing leadership stability and continuity that we believe will aid in the successful integration.
In addition, BearingPoint previously announced on April 17, 2009, that it had entered into definitive agreements with PricewaterhouseCoopers LLP (PwC) to sell a significant portion of the Company's North American Commercial Services business and associated Global Delivery Centers for $25 million. On May 27, 2009, a hearing is scheduled for the Court to review the proposed sale, which remains subject to the satisfaction of certain closing conditions and the rules of the Court, which require BearingPoint to consider all "higher or better" offers from other potential buyers and obtain Court approval. There can be no assurance that the proposed sale will be approved by the Court or that the transaction will be completed.
About BearingPoint, Inc.
BearingPoint, Inc. (OTCBB:BGPTE) is one of the world's largest providers of management and technology consulting services to Global 2000 companies and government organizations in more than 60 countries worldwide. Based in McLean, Va., the firm has approximately 15,000 employees focusing on the Public Services, Commercial Services and Financial Services industries. BearingPoint professionals have built a reputation for knowing what it takes to help clients achieve their goals, and working closely with them to get the job done. Our service offerings are designed to help our clients generate revenue, increase cost-effectiveness, manage regulatory compliance, integrate information and transition to "next-generation" technology. For more information, visit BearingPoint's Web site at www.BearingPoint.com.
Some of the statements in this press release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, including, without limitation, certain statements regarding the Company's restructuring process and the sale of BearingPoint's businesses. These statements are based on our current expectations, estimates and projections. Words such as "will," "expects," "believes" and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events or our future financial performance that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include, without limitation: (i) the ability of BearingPoint to continue as a going concern; (ii) BearingPoint's ability to obtain bankruptcy court approval with respect to the proposed sale transactions, if required, and related changes to the plan of reorganization; (iii) risks and uncertainties associated with BearingPoint's bankruptcy proceedings as a result of filing for reorganization under chapter 11 of title 11 of the United States Bankruptcy Code, including, without limitation, potential employee attrition, as well as bankruptcy court rulings and the outcome of BearingPoint's bankruptcy proceedings in general; (iv) the ability of BearingPoint to consummate the proposed sale of its Commercial Services business, as well as enter into definitive agreements with respect to the sale of the rest of its businesses, and to consummate such sale transactions on favorable terms, if at all; (v) the ability of BearingPoint to satisfy conditions to closing of any sale transactions, including the Commercial Services sale transaction; (vi) the ability of third-parties to fulfill their obligations pursuant to sale agreements, including their ability to obtain financing under current financial market conditions; and (vii) risks and uncertainties inherent in transactions involving the sale of all or substantially all of the businesses of BearingPoint, including, without limitation, the diversion of management attention from the operation of BearingPoint's business and risks associated with any failure to consummate such sale transactions. As a result, these statements speak only as of the date they were made, and BearingPoint undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: BearingPoint, Inc.
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Media Contacts:
BearingPoint
Gina Giamanco
606-575-3049
gina.giamanco@bearingpoint.com
or
Abernathy MacGregor
Lex Suvanto
212-371-5999
lex@abmac.com
or
Investor Contact
BearingPoint
Denise Stone
973-214-9953
denise.stone@bearingpoint.com
Jaywalk report 2/21 says 'hold'
BearingPoint files for bankruptcy protection
NEW YORK, Feb 18 (Reuters) - BearingPoint Inc (BGPT.OB), a provider of technology and management consulting services, filed for Chapter 11 bankruptcy protection on Wednesday and said it had reached an agreement with senior secured lenders to reduce its debt and improve its capital structure.
BearingPoint said it was facing near-term cash payment obligations and could have been required to repay all of its outstanding debt if it were delisted from the New York Stock Exchange.
The company's bankruptcy petition listed more than $1 billion in assets and more than $1 billion in liabilities, and estimated the number of creditors at between 50,000 and 100,000.
BearingPoint made the filing with a prearranged restructuring plan, so the process can be completed on an accelerated basis, the company said,
McLean, Virginia-based BearingPoint said its overseas operations were not included in the filing. (Reporting by Nick Zieminski; Editing by Lisa Von Ahn)
Will bearingpoint ever be turned around? Just a few years ago in 2007 the stock traded at 7$ plus and share but with recent developments from lawsuits, new president and global economic probelms, the company may have a hard time regaining past strength. Moreover, with buyout or bankruptcy rumours swarming around the net the stock still trends downward towards delist levels.
People are bringing up buyout rumours by PWC on yahoo and vault boards. People claiming credile sources. Probably just a pump because the stock price is not reflecting a pending buyout.
Yup. Imagine that.
Wow looks some people would have actually made money of a r/s if they bought in the low 3 cent range
Dec 11, 2008 Reverse BRGP BGPT BearingPoint, Inc. Common Stock Pink Quote/OTCBB Dec 11, 2008 shs decreased by 1 for 50 split
UGHHHH
I hate it when this Happens.
SSok
I recommend Cognac and watching L2.
Are you still holding? What do you think about the trading range tomorrrow?
BearingPoint, in Cooperation with SAP Japan, Implements Secure Global Trade System for Sysmex CorporationLast update: 12/10/2008 10:08:00 AMSystem supports streamlined compliance and management of global trade for leading healthcare company MCLEAN, Va., Dec 10, 2008 (BUSINESS WIRE) -- BearingPoint, Inc. (BRGP), one of the world's largest management and technology consulting firms, in cooperation with SAP Japan Co., Ltd., announced that it has completed the pilot of a secure global trade system, based on the SAP(R) GRC Global Trade Services application, for Japan's Sysmex Corporation, a leading manufacturer and distributor of clinical testing equipment and diagnostic products. The global trade system - implemented at Sysmex's subsidiary in Singapore - is designed to address the trade and security control challenges resulting from the company's rapid globalization and decentralized operations. Now, Sysmex will be able to standardize business processes and systems; streamline management of complex, global trade security measures; and improve control and monitoring of compliance across its operations worldwide. Sysmex can also more accurately monitor legal compliance at its Singaporean subsidiary and swiftly implement any necessary measures for risk aversion. Further, SAP GRC Global Trade Services helps build clarity and transparency into business processes between the head office and overseas subsidiaries, effectively streamlining security trade control work on a global scale and enhancing overall risk management. BearingPoint was hired as the consulting partner for the project based on its familiarity with the life sciences industry and security trade-control systems, global presence and experience deploying systems based on SAP GRC Global Trade Services. About BearingPoint, Inc. BearingPoint, Inc. (BRGP) is one of the world's largest providers of management and technology consulting services to Global 2000 companies and government organizations in more than 60 countries worldwide. Based in McLean, Va., the firm has approximately 16,000 employees focusing on the Public Services, Commercial Services and Financial Services industries. BearingPoint professionals have built a reputation for knowing what it takes to help clients achieve their goals, and working closely with them to get the job done. Our service offerings are designed to help our clients generate revenue, increase cost-effectiveness, manage regulatory compliance, integrate information and transition to "next-generation" technology. For more information, visit the Company's Web site at . Some of the statements in this press release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations, estimates and projections. Words such as "will," "expects," "believes" and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events or our future financial performance that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. As a result, these statements speak only as of the date they were made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. SAP and all SAP logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries. All other product and service names mentioned are the trademarks of their respective companies. SOURCE: BearingPoint, Inc.
BearingPoint US Gina Giamanco 1 609 575 3049 gina.giamanco@bearingpoint.com or BearingPoint Japan Maki Murao 81 801 385 0380 maki.murao@bearingpoint.comCopyright Business Wire 2008
New Issue of BearingPoint Financial Services Technology Journal Now AvailableLast update: 12/10/2008 9:21:00 AM-- Management and Technology Consulting Firm Provides Strategies and Approaches to Optimize IT Spending in a Turbulent Market -- MCLEAN, Va., Dec 10, 2008 (BUSINESS WIRE) -- BearingPoint today announced a new issue of its Financial Services Technology Journal (FSTJ) and a corresponding podcast, centered on the timely theme of IT cost management in an uncertain economy. This issue, addressing Cost Management, offers financial services decision-makers effective, up-to-date thought leadership on IT cost planning. The issue defines and explores improvement-minded approaches to making organizations more cost-agile. Key areas include: -- Defining fixed vs. variable costs -- Evaluating and understanding risk and cost structures -- Exploring fixed investments to reduce unit costs -- Effectively tackling IT executive challenges -- Preparing for the future The Cost Management issue and six earlier Financial Services Technology Journal issues are available for free download on BearingPoint's Web site. To complement the Journal, executive editor Julien Courbe has created "BearingPoint Launches Technology Journal on Cost Management for IT Organizations," a new podcast that sheds light on the theme by lending a human voice to the mix and inviting listener feedback and conversation. All BearingPoint podcasts are available for free download on the BearingPoint page of Podtech.net. First published in May 2004, the Financial Services Technology Journal is a semi-annual publication of BearingPoint's original expert content that provides readers with solid information to drive successful decisions. BearingPoint regularly produces thought leadership papers, podcasts and blog posts that focus on a wide array of themes and strategies for the financial services industry, with a keen eye on current trends and events in the market. Every day, BearingPoint's consultants work with clients to overcome various business challenges with insight and new thinking. Quote, Attributable to Julien Courbe, BearingPoint managing director and executive editor of the BearingPoint Financial Services Technology Journal "BearingPoint strives to arm financial services technology leaders with well-defined and strategic information about managing IT costs in a slowing economy. In 2004, we created the FSTJ to offer our clients meticulous research and fresh insights. With our new FSTJ issue and podcast, we're taking an educational and interactive approach to help IT decision-makers best support their organizations." About BearingPoint, Inc. BearingPoint, Inc. (BRGP) is one of the world's largest providers of management and technology consulting services to Global 2000 companies and government organizations in more than 60 countries worldwide. Based in McLean, Va., the firm has approximately 16,000 employees focusing on the Public Services, Commercial Services and Financial Services industries. BearingPoint professionals have built a reputation for knowing what it takes to help clients achieve their goals, and working closely with them to get the job done. Our service offerings are designed to help our clients generate revenue, increase cost-effectiveness, manage regulatory compliance, integrate information and transition to "next-generation" technology. For more information, visit the Company's Web site at . SOURCE: BearingPoint
BearingPoint Aaron Bedy, 404-538-5289 aaron.bedy@bearingpoint.com or SHIFT Communications Suzanne Aronowitz, 617-779-1814 saronowitz@shiftcomm.com Copyright Business Wire 2008
BearingPoint and SAP America Sign New Go-to-Market AgreementLast update: 12/9/2008 10:30:00 AMCompanies to Help Clients Better Manage Enterprise Performance and Proactively Mitigate Risk MCLEAN, Va., Dec 09, 2008 (BUSINESS WIRE) -- BearingPoint, Inc. (BRGP), one of the world's largest management and technology consulting firms, today announced the signing of a new go-to-market agreement with SAP America, Inc. that will focus on helping customers better manage enterprise performance and proactively mitigate risk. Under the new agreement, the two companies have established a go-to-market program that combines BearingPoint's experience in helping clients across all industries address their most pressing business and technology challenges with SAP's worldwide leadership in business software. In addition, BearingPoint, an SAP services partner, will offer services in support of "Office of the CFO" in North America. Through this agreement, the companies will focus on helping chief financial officers (CFOs) optimize the information value chain with stronger, integrated performance and risk management measures using SAP(R) solutions for enterprise performance management and SAP solutions for governance, risk, and compliance (SAP solutions for GRC). Additionally, the companies will help chief information officers (CIOs) to implement SAP solutions for enterprise performance management and SAP solutions for GRC on top of a foundation of comprehensive, accurate enterprise data using the SAP NetWeaver(R) Master Data Management (SAP NetWeaver MDM) component of the SAP NetWeaver technology platform. "This announcement underscores BearingPoint's commitment to help businesses harness the power of technology to drive performance and deliver meaningful, measurable results," said Brian Snarzyk, executive vice president of Global Solutions for BearingPoint. "We're in tune with the 'stay awake' issues of executives and decision makers. Through this initiative, we'll be offering horizontal and vertical tailored, scalable SAP solutions and approaches to address tough business challenges." BearingPoint will augment its sales efforts for SAP applications with industry-specific marketing, targeted at the U.S. utilities, oil and gas, life sciences, retail, communications and media industries. "BearingPoint and SAP share a long history of partnering together to support our customers' success," said Stephen Spears, senior vice president, Office of the CEO, SAP Americas. "This agreement formalizes a focused effort to leverage BearingPoint's thought leadership and experience in areas of risk and information management and SAP's broad portfolio of unified performance optimization and risk applications. Together SAP and BearingPoint will help customers consolidate data to expose, manage and respond to an increasingly wide range of potential risks facing companies today." About BearingPoint, Inc. BearingPoint, Inc. (BRGP) is one of the world's largest providers of management and technology consulting services to Global 2000 companies and government organizations in more than 60 countries worldwide. Based in McLean, Va., the firm has approximately 16,000 employees focusing on the Public Services, Commercial Services and Financial Services industries. BearingPoint professionals have built a reputation for knowing what it takes to help clients achieve their goals, and working closely with them to get the job done. Our service offerings are designed to help our clients generate revenue, increase cost-effectiveness, manage regulatory compliance, integrate information and transition to "next-generation" technology. For more information, visit the Company's Web site at . SAP, SAP NetWeaver and all SAP logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries. All other product and service names mentioned are the trademarks of their respective companies. BearingPoint Forward-looking Statement Some of the statements in this press release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on our current expectations, estimates and projections. Words such as "will," "expects," "believes" and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events or our future financial performance that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. As a result, these statements speak only as of the date they were made, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. SAP Forward-looking Statement Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. SOURCE: BearingPoint, Inc.
one possbile scenrio is that in the or before the split next couple of months bearingpoint decides to sell its commerical and financial practice securing enough money to pay off some of its immediate debts and thus causing a the price to raise alot pre or after the split but as a former employee this has been a rumour for years
I don't know -- there company has good revenues and isn't going under. Thus I think you'll get a chance to flip out.
I was away and did not get a chance to sell today. Think there will be a bounce after the RS?
Soo... wow... fun. Crap.
On the yahoo board employees have said the CEO has approved the 1 to 50 reserve split.
Has any one attended the call? What is new?
They might seek approval for the reverse split, but that won't be implmented without a recovery in the pps. Continuous recovery in pps is ahead until the end of this year. I think we will see a breakout sometime tomorrow.
Debt 200M is due in April 2009, plenty of time left!!!!!!!!!!
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BearingPoint weighs restructuring options
BearingPoint Inc.’s plans to sell some or all of its business have proved unsuccessful, and the company is now attempting to renegotiate the terms of some of its debt to comply with New York Stock Exchange regulations, reports the Washington Post.
The credit crunch has created a difficult environment for mergers and acquisitions, hampering BearingPoint's plans to sell off parts of the company to pay down debt and boost its share price, the company said Wednesday. It is the latest in a series of setbacks for the McLean company, which provides software services to both private clients and government agencies such as the Marines and the Department of Health and Human Services.
BearingPoint received a notice from the exchange Tuesday saying it was not meeting the minimum market capitalization of $100 million. Earlier this year, the company received a similar letter from the exchange saying its share price had fallen below the minimum listing requirement of $1 per share. Shares of the company hit a new 52-week low of 16 cents yesterday before closing at 19 cents a share, down 3.2 cents.
In addition, BearingPoint faces a potential April 15 deadline: On that date, some of the company's lenders have the option to require that the company pay back in full $200 million worth of debt, plus interest.
The company ended the second quarter with about $347 million in cash. Jamie Friedman, an analyst with Susquehanna Financial, said BearingPoint would need to end the year with more than that so that if it must pay its lenders, it can continue to function.
"The way they get there is by collecting the money that is owed to them from their customers," he said. "But sometimes collection can be out of your hands, especially in a difficult economy."
Do you think they will scrap the reverse split vote? I'll be listening to the AGM on Friday, it's on live stream on the BP website. If so the PPS will skyrocket.
Why reverse split? NYSE delisted them any way.
It is easy to bring the price back on bulletin board rather than the big boards.
This will be like HealthSouth, which was traded between 5-10 cents on OTCBB during Apr 2003. They makeup the price on OTC and did reverse split 1:4, then the stock went up to $30, relisted on NYSE.
A similar plan in the works here, wait for big news on Friday during the AGM...............
http://finance.yahoo.com/q/bc?s=HLS&t=my
I guess we won't know the vote until after market closes. that kind of bites.
If they do not do a reverse split--the stock rallies, IMO
I am waiting until Friday, if no run then I sell, I don't want my shares to be reverse split, I was expecting a run by this Friday, if they vote for the split Friday it will go into effect on Monday.
Hmm, maybe I should take out the money I have in already. I will have to think about that. Thanks for your opinion.
True. There seems to be some support. But the PPS is too low to remain listed once the Feds reinstate the penny rule. So, I don't see a way to avoid the RS in this case. But... the 10s and revenues from BE are outstanding. They land huge contracts and are an established company.
My thought, wait for the RS, buy on the recovery -- calls.
It may be too much to hope for, but I am hoping that we are building some support around this price. Seems to have stopped freefalling.
Not from the chart... Unless there is one hell of a PR, I see us sitting here for a bit while the market gets done squishing us.
Thx. Do you think if there is any chance for a run this week?
Just watching to see what they do.
Very quiet, no messages. Is anybody still holding the stock?
hey, they didn't file Ch11. So, stock may run huge
(1) before they file BK, or
(2) after the buyout news is out
I can't think of status Quo situation
If it runs it will run in the next week or two then I'm out
Accumulation is not complete yet.
Closed in green, which is good. Wait until Dec 5th for a major run.
Three green days with higher highs and higher lows.
Not a terrible day in this market!
Horrible close, this one is really pissing me off, almost 6 million shares and unchanged??
A lot of volume has gone on today. Slowly but surely its moving up day by day. Slow and steady wins the race!
EDWARD STEVENSON'll be back to congratulate ya then alright, good luck n' godspeed!
BRGP is not done yet my friend, give it another 2-3 days, I'm looking for .10+
eeeeeeey secolton, congrats playa, BRGP did fabulous, EDWARD STEVENSON remembered
Posted by: secolton Date: Monday, November 17, 2008 4:21:59 PM
In reply to: EDWARD STEVENSON who wrote msg# 52 Post # of 94
In at .03, I love this one
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Important Websites
Home Page: http://www.bearingpoint.com/portal/site/bearingpoint
Investor Relations
Denise Stone
Director, Investor Relations
denise.stone@
bearingpoint.com
US: +1 908 607 2100
Corporate Contact
+1 (866) BRNGPNT
+1 (508) 216-2523 from outside the U.S. and Canada.
About BearingPoint (BE)
BearingPoint, Inc. provides management and technology consulting services primarily in North America and internationally. The company offers management consulting, technology solutions, application services, and managed services. Its integration services comprise designing, building, and implementing new or enhanced system applications and related processes; general business consulting services include system selection or assessment, feasibility studies, business valuations, and corporate strategy; and managed services consist of managing, staffing, maintaining, hosting, or otherwise running solutions and systems provided to its customers. The company serves agencies of the U.S. federal government, such as the departments of defense, homeland security, and health and human services; provincial, state, and local governments; public healthcare companies and private sector healthcare agencies; aerospace and defense companies; and higher education clients, as well as various sectors, including technology, consumer markets, manufacturing, life sciences, energy markets, transportation, communications, and private and public utilities. BearingPoint also provides solutions to banking, insurance, securities, real estate, hospitality, and professional services institutions. The company was founded in 1999. It was formerly known as KPMG Consulting, Inc. and changed its name to BearingPoint, Inc. in 2002. The company is headquartered in McLean, Virginia.
Fueled by the passion and experience of our dedicated consultants, BearingPoint helps solve our clients� most pressing challenges day in and day out. From strategy to execution, our disciplined yet flexible approach starts and ends with our clients. By listening hard and working harder, their goals become our goals. Their success is our satisfaction. It�s why our clients sleep well at night.
More specifically, what sets us apart is:
Results: Measurable & Sustainable
BearingPoint consultants work with clients to deliver practical, measurable and sustainable results day in and day out. By helping clients make the right strategic decisions and implement the right solutions, the world�s most respected organizations keep coming back to BearingPoint.
Approach: Collaborative & Flexible
With deep industry experience, BearingPoint consultants have the disciplined, yet flexible approach to seek out the right way for our clients, not just �the� way. A collaborative and responsive approach to problem-solving inspires innovative and effective solutions. Our clients appreciate this approach since it means we are listening to their needs and exceeding their expectations time after time.
People: Passionate & Experienced
Ask any client who has worked with BearingPoint and they will tell you the same thing: BearingPoint consultants are personally committed to getting the job done regardless of the obstacles. Sure BearingPoint consultants draw from a deep well of industry experience but it is their passion and dedication that garners extraordinary client loyalty.
BearingPoint works with a select group of technology and software alliance partners who enhance our market offerings, bring value to our clients, and align with our market strategy. Our Alliance Partners enhance BearingPoint's ability to solve client challenges by helping us to deliver:
* Deep industry and technology experience
* New technology across a range of industries
* Industry-leading solutions created with global authorities in their field
The result is a stronger ability to deliver long-term value to our clients.
BE Management
Reference: http://www.bearingpoint.com/portal/site/bearingpoint/menuitem.c61caed41198bcb753d0a11047108a0c/vgnextoid=b28b3c0bc28fe010VgnVCM1000003264a8c0RCRD
Roderick C. McGeary
Chairman of the Board
Roderick C. McGeary, age 57, has been a member of the Board since August 1999 and Chairman of the Board since November 2004. From March 2005 until December 2007, Mr. McGeary served the Company in a full-time capacity, focusing on clients, employees and business partners. From 2004 until 2005, Mr. McGeary served as our Chief Executive Officer. From 2000 to 2002, Mr. McGeary was the Chief Executive Officer of Brience, Inc., a wireless and broadband company. Mr. McGeary is a director of Cisco Systems, Inc., a worldwide leader in networking for the Internet, and Dionex Corporation, a manufacturer and marketer of chromatography systems for chemical analysis. On December 31, 2007, Mr. McGeary retired as an employee of the Company. Mr. McGeary will continue serving as Chairman of the Board.
Ed Harbach
Chief Executive Officer
Named Chief Executive Officer in December 2007, Ed has nearly 30 years experience in the management and technology consulting industry. He is also a member of the Board of Directors. Previously, Ed served as BearingPoint's President and Chief Operating Officer, where he was responsible for the company's day-to-day global operations. Prior to joining BearingPoint, Ed had retired as a managing partner and member of the leadership team at Accenture. He held multiple client-facing and executive positions throughout the organization. In addition to leading Accenture's global client relationships with several Fortune 100 companies, Ed served as Chief Information Officer and Managing Partner, Client Satisfaction and Quality, and turnaround leader on a number of critical client and organizational assignments in multiple geographic regions.
Douglas C. Allred,
Has been a member of the Board since January 2000. Mr. Allred is a private investor. Mr. Allred retired from his position as Senior Vice President, Office of the President, of Cisco Systems, Inc. in 2003. Mr. Allred was Senior Vice President, Customer Advocacy, Worldwide Consulting and Technical Services, Customer Services, and Cisco Information Technology of Cisco Systems, Inc. from 1991 to 2002.
Betsy J. Bernard,
Has been a member of the Board since March 2004. Ms. Bernard is a private investor. Ms. Bernard was President of AT&T Corporation from 2002 to 2003. From 2001 to 2002, Ms. Bernard was President and Chief Executive Officer of AT&T Consumer. Ms. Bernard is a director of The Principal Financial Group, a global financial institution, and Telular Corporation, a provider of fixed cellular solutions and wireless security systems and monitoring solutions.
Albert L. Lord,
Has been a member of the Board since February 2003. Mr. Lord is a vice chairman and Chief Executive Officer of SLM Corporation, commonly known as �Sallie Mae,� since January 2008. Mr. Lord was Vice Chairman and Chief Executive Officer of Sallie Mae from 1997 to 2005 and Chairman from 2005 to January 2008.
Spencer C. Fleischer
Has been a member of the Board since July 2005. Mr. Fleischer is a senior managing member and Vice Chairman of Friedman Fleischer & Lowe GP II, LLC, a company sponsoring and managing several investment funds that make investments in private and public companies, and has served in such capacity since 1998. Mr. Fleischer was appointed to the Board in accordance with the terms of the securities purchase agreement, dated July 15, 2005, relating to the July 2005 Convertible Debentures among the Company and certain affiliates of Friedman Fleischer & Lowe, LLC. If Mr. Fleischer ceases to be affiliated with the purchasers or ceases to serve on our Board, so long as the purchasers collectively hold at least 40% of the original principal amount of the July 2005 Convertible Debentures, the purchasers or their designee have the right to designate a replacement director to the Board.
Wolfgang Kemna
Chief Executive Officer of Living-e AG Mr. Kemna has served as Chief Executive Officer of Living-e AG, a German-based software provider of publishing and productivity software, since July 2007. From 2004 to 2007, Mr. Kemna served as Managing Director of Steeb Anwendungssysteme GmbH, a wholly owned subsidiary of SAP AG. Previously, he held several positions at SAP AG, including Executive Vice President of Global Initiatives from 2002 to March 2004; President and Chief Executive Officer of SAP America, Inc. from April 2000 to September 2002; and member of SAP's extended executive board from 2000 to March 2004 with responsibility for the Americas. Mr. Kemna began his career with SAP in 1987, and served as managing director at SAP�s German subsidiary responsible for sales and marketing efforts from July 1998 until April 2000. Between 1995 and 1998, Mr. Kemna headed SAP operations in Africa, the Middle East and the southeast of Europe. Mr. Kemna joined BearingPoint�s board of directors in April 2001.
SEC Filing Information
http://phx.corporate-ir.net/phoenix.zhtmlc=121861&p=irol-SECbridge
1.20.2009
http://biz.yahoo.com/e/090120/bgpt.ob8-k.html
News
http://phx.corporate-ir.net/phoenix.zhtmlc=121861&p=irol-news&nyo=0
Chart and Stock Information
Share Structure
The Board of Directors of the Company also approved the implementation of a reverse stock split at a one-for-fifty ratio, which had been authorized by the shareholders. As a result of the reverse stock split, every fifty shares of BearingPoint’s common stock that were issued and outstanding as of market close on Dec. 10, 2008, will be automatically combined into one issued and outstanding share. Until such time as determined by NASDAQ, the Company’s shares will continue to trade on the OTC Bulletin Board under the symbol “BRGP” on a pre-split basis. The Company expects that, upon the reverse stock split becoming effective for purposes of quotation on the OTC Bulletin Board, its common stock will trade under a new trading symbol on a post-split basis, reflecting the one-for-fifty reverse stock split.
Instead of issuing any fractional shares as a result of the reverse stock split, stockholders will receive cash payments for such fractions after the Company’s transfer agent sells all of the aggregated fractional shares of common stock. Following the reverse stock split, the Company expects the number of its shares of common stock issued and outstanding will be reduced from approximately 220 million shares to approximately 4.4 million shares.
Source: http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20081205005655&newsLang=en
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Updated 05 Jun 2008 by Soapy Bubbles
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