SAIC Declines...Loss provisions on Legal?
"During the fourth quarter, our revenue and operating income both declined from adjusted prior year levels," said John P. Jumper , chairman and chief executive officer. "Nevertheless, we made a number of significant investments towards the future separation of the company, and had a few unexpected items that adversely impacted our results. "
"The reduction in operating income, as adjusted, was primarily attributable to $23 million of expenses incurred in connection with the planned separation transaction and $14 million of loss provisions relating to certain legal matters."
(For those new to my blog -- Rudy Giuliani threw out a working pay-roll system called AutoTime created and run by City Workers -- it could have been expanded but Rudy threw it out and gave us the tax payer's Titanic and brought in (my opinion crooks from the get go SAIC. Mike should have filed CityTime in the dumpster along with Rudy's Maximus.)
It is my opinion that HP and other lead contractors copied SAIC and billed over the top bilking us of billions if you combine the 2 tech disasters and sadly there are so many tech disasters where Bloomberg Quinn approved mega millions in over-runs...rewarding a culture of failure and a revolving door of corruption.)
There are SAIC shareholder law suits that look like they read my blog and the SAIC criminal trial starts the end of Sept. 2013 bad news for Team Bloomberg, Christine Quinn and Bill Thompson as well as Rose Gill Hearn who went on NY1 and did an informercial.
Sept 2013 Starts the Adrian Schoolcraft trial which will expose the NYPD corruption and is as close to a Commission on the NYPD we are going to get for now.
