BB's Stock Haven

[ClarkJ]

SEVI
According to that news release, SEVI is going to fill all the positions of one of Petrobras Oil's new sites (Petrobras is the 14th largest oil company in the world--see above news release).

I think this contract with Petrobras may be the first time SEVI's Next Hire division has actually been "retained" to fill all the positions of an entire US branch of an international company. In the past, it's been more of a piece-meal program, where companies come to SEVI when they need to fill one spot. If this contract follows Next Hire's normal practice, they should receive fees equal to about 20% of the annual income of each person they hire. Assuming there will be a spread of income from geophysicists (~$60,000-$80,000) to executives (~$150,000+) to secrtaries (~$30,000) (this is all guessing)--let's say an average of $100,000/position and there's 80 positions . . .

100,000 x 0.2 x 80 = 1.6 million!!! (--estimate--)

That aready beats Next Hire's entire annual revenue from this past year. Also, SEVI states that this contract fully utilizes SEVI's Next Hire services, and those services include an option for full managed hiring (i.e. on an on-going basis to fill vacated positions in the future).