SAIC due to the CityTime Scandal has either developed a Madonna complex constantly trying to make itself over but not as successfully as Madonna who has ripped off Cindy Lauper, Mae West, Marilyn Monroe, the list is shorter of who she hasn't borrowed from or it that SAIC is like an amoeba?
Just like the amoeba, SAIC has split into TWO Companies!
Reminder SAIC is like Prince who decided to change his name to a symbol.
SAIC changed to SAI but SAIC just can't rid itself of the CityTime scandal and guess why --- because SAIC refuses to take responsibility.
Stay tuned for shareholder law suits, OJ Simpson trials in reverse with the civil law suits coming before the criminal trial --- a sure pandoras box and nightmare for top SAIC officials and top NYC gov officials that have so far avoided arrests and had hoped that Gerald Denault would take the fall but um gee whiz -- the Richard Valcich letter proves SAIC was less than ethical before Denault was hired so stay tuned!
The CityTime crime ain't a done deal. Stay tuned for even more fall-out -- the trial of the century....next century -- if Mike Bloomberg and his mini-me puppet Christine Quinn have their way -- the trial will come after the election which Quinn is trying to have moved up!
Christine Quinn brushed aside 2 investigations in to CityTime and discouraged a third. Joel Bondy swore under oath when he testified before City Council. Ssshhhhhhh. Not good for Bill Thompson another mayoral candidate as his name along with Mike Bloomberg's is on the bottom of every page of Valcich's letter. Sshhhh. Why did Valcich go from hero to zero to say?
Revenues, up, but short story, making less money. DOWN
"Operating income for the quarter was $191 million (6.7 percent of revenue), down from $209 million (8.1 percent of revenue) in the second quarter of fiscal year 2012. The reduction in operating income was attributable to a net unfavorable change in contract estimates compared to a net positive change in contract estimates in the prior year period; increased indirect spending, including bid and proposal costs; and $11 million of charges associated with the corporate relocation and the strategic review leading to the planned separation announced today.
Income from continuing operations for the quarter was $110 million, down from $112 million in the second quarter of fiscal year 2012. "
AND
"The Company's backlog of signed business orders at the end of the second quarter of fiscal year 2013 was $16.7 billion , of which $5.5 billion was funded. As compared to the end of the second quarter of fiscal year 2012, total backlog decreased 6 percent while funded backlog increased 5 percent. Negotiated unfunded backlog does not include any estimate of future task orders expected to be awarded under IDIQ, GSA Schedule or other master agreement contract vehicles. "
