Goodbye CSC, Hello L-3
I'm pretty sure every acquaintance of mine knows I'll be leaving CSC soon for L-3 Communications. I start Monday! It's been an interesting past several months, with a significant number of departures and now talk of a takeover (discussed below).
Lately there has been all kinds of griping and dissatisfaction (the perception that "SPY sucks" was even addressed at a meeting), but I tried to make it abundantly clear to everyone that this was a decision made in the best interests of my career, not as some kind of petty payback. I've been at CSC for 5 years. That's 20% of my life! I've become familiar with the culture and it's time I moved on to keep my resume fresh. These days you just don't want to tie yourself down for too long.
Probably the hardest thing to give up will be the people. I don't know of anywhere else that I can build this pretty big network of people at two companies (CSC and Lockheed) that has stayed pretty cohesive over the years. To be fair I've only been here for a couple years, but in that time a lot of people have switched jobs and we still all keep in contact. That's cool. L-3's tougher, though, since it's further away and lunch excursions aren't as easy. I still want to keep all my contacts and I hope we'll all keep in touch.
Now about this talk of an acquisition by Lockheed Martin. People at work are talking about it like it's a done deal. It's not! Here are some thoughts I emailed to a friend at my future employer:
It's by no means a done deal. It's in the discussion phase at the moment, so CSC could always reject the bid. Also, the DoD can veto the merger if they feel it's counter to their interests. Plus, CSC is soliciting bids from other investors so if the Warburg-Blackstone-Texas Pacific-Lockheed alliance's bid is surpassed by another, CSC could go with the other. I also find it curious that the aforementioned holding companies would be interested in CSC's commercial business when it's the government sector that has the best growth. Perhaps they would see fit to kick Lockheed out of their alliance.
Plus, M&A in general rarely works out well in the corporate world. Well, I shouldn't say "rarely" but it's not as easy as people think. On the other hand, if the relationship between CSC and Lockheed in Moorestown is any indication, there's already a considerable amount of synergy (a word that ALWAYS gets bandied about when you're talking about M&A) in contracts where Lockheed is CSC's customer. We work very closely with them, so I'd expect those relationships to stay pretty much the same.
If does go through, it would be interesting. A lot of support staff (like the security people, document control, etc.) would probably get laid off. I wonder if Lockheed would pick and choose who they kept. And I wonder how benefits and everything would be merged in.
CSC stock is a hell of a bargain right now, as it's trading at less than 12 times earnings (compared to the S&P 500's average of like 14 or something) and improving earnings by like 19% year over year. I think I might wait a while before rolling over my 401(k). posted by Duc at 10/27/2005 10:40:00 AM
Thursday, October 20, 2005
I'm seeing Serenity all by myself! Not a single person in the theatre. Loser you say? Screw you!
Enlighten-NewJersey sends you to a Harvard personality test that assess your political leanings.
The Wrightwing represents my views on prayer and coaching pretty damn well.
Cripes, Suzette! makes a good case for the existence of a Dirty Laundry Fairy. My mother was good like this too.
The Eternal Golden Braid discusses quantum physics as art, giant snails on Dione (Saturn moon), and all kinds of other neat stuff. I'm quite the space/science buff, so this is a neat place.
SmadaNek offers some issues that could sway NJ moderates to Forrester.
KateSpot shares some cute photos of recent activities.
Parkway Rest Stop comes up with a funny rendition of what a Jersey Jeopardy episode might be like.
And finally, a little self-promotion. The New Wisdom doesn't get updated nearly as much as I like, but it's maintained by 8 New Jersey bloggers looking to make a small difference. All I managed to get up this week was a blurb about Dick Cheney under the microscope, but the forum is always open and we'd love, love, LOVE to have you over!
That's all for this week! Next week's carnival will be hosted by KateSpot. Please send links to njcarnival at gmail dot com for posts you would like featured in the next Carnival.
Yay, a Linux meeting!
I have no time to do anything anymore, so I'm happy to be at a Linux meeting since a.) it's not work or school and b.) I can learn something while doing other stuff on my laptop simultaneously. It's not all happiness, though. I'm off to work right after the meeting!
I can't say I've done anything since Vegas, so there isn't much to blog about anyway. Amy and I did visit Ocean City a couple weeks back to hang out on the boardwalk before the winter. I made sure to indulge in cotton candy and fudge.
Otherwise, not much! I've only been going to the gym once or twice a week (most once) which isn't helping my buffness goals. I am eating better, though. I'm making my healthiness happen, damn it! posted by Duc at 10/07/2005 07:26:00 PM