SAiC Lay-offs CityTime Fall-Out?

SAIC, who's your mama???
 
The truth please, just for once, nope the street needs to prove it the long tedious painful way.......SAIC is (see below)  cutting jobs, not just because of Fed cuts?...It's a brilliant reason to blame it on the Feds though...what about  all those law suits?, what about fronting all the denault legal costs?, what about losing federal contracts from disgruntled other governemtn clients due to CITYTIME SHAME, will that get SAIC  disbarred?, what about last weeks quarterly shuffling of SAIC Q1 revenuess? Revenue's  up but costs chewed it up to lower profit, another accounting trick?  SAIC is running low on its bag of tricks. off with their heads...buying back stock to push up stock price, pushing up revenue to push up stock price, beating lowered projections to push up stock price? Off with their heads...let them eat cake.
 
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"CFO Mark Sopp called sequestration, the term used to describe the across-the-board cuts, "increasingly probable" during a presentation Wednesday at Stephens Spring Investment Conference."
http://www.bizjournals.com/washington/blog/fedbiz_daily/2012/06/saic-predicts-layoffs-with-12-in.html
 
"We're prepared to act swiftly," he said. "We do have a highly variable cost structure; 80-90 of percent [of costs] are variable with respect to our direct labor, so we can take that cost out quickly if the revenue source is not there. We will do so, but in a responsible way toward our employees."
 
http://www.bizjournals.com/washington/blog/fedbiz_daily/2012/06/saic-predicts-layoffs-with-12-in.html