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5 Comments

    • Earnings Preview: Monster Worldwide [view article]
      Hopefully the current team announce resignations on the call. They've taken so long to turn this thing around, and have not acted on the obvious actions to fix, like concentrating top management on the core US business by bringing in the right partners for the rest of the business. Very frustrating. Jul 30 11:49 PM
    • Scraping the Bottom of the Internet Barrel (Part I) [view article]
      Disagree with previous posters on MNST. Management has run the US business into the ground, to now be 4th-5th in traffic, the leading indicatror of health. gettign trounced in India, and not making much ground in the many overseas markets - if they're doing so great, why don't they release country-by-country data? Jul 16 06:08 PM
    • Downgrading Monster Worldwide on Deteriorating Employment Outlook [view article]
      ChinaHR revenue share is questionable as an indicator of market strength. Owner/managers deal with Monster, whereby Monster would buy remainder of company "based upon a multiple of ChinaHR’s 2007 revenue audited in accordance with U.S. GAAP. This multiple was determined when Monster made its initial investment in ChinaHR in early 2005", incented the incumbent owner-managers to "buy" revenue over the previous year. The information released by Monster is opaque on this point, which suggest that ChinaHR numbers are "puffed up", and likely distance to 51job is substantial - if Monster released its ChinaHR numbers after the deal is done, they could readily dispel this view (an unlikely outcome give Monster no longer provides guidance). Feb 07 05:13 PM
    • Downgrading Monster Worldwide on Deteriorating Employment Outlook [view article]
      Actually you really have to question the amount being spent on ChinaHR. ChinaHR seems a long way from turning a profit, and is well south of key competitor 51job on all available operating metrics. Monster is placing a higher value on their #2 or #3 player ChinaHR than the market places on publicly listed #1 player 51job. Outside-in, looks like another crazy, value destroying move. The leaders in thinking in this space are well known to investors - I would think its time the major investors made themselves heard. Feb 06 05:33 PM
    • Downgrading Monster Worldwide on Deteriorating Employment Outlook [view article]
      Excellent analysis. This stock remains a terrible investment at current levels, unless you believe take-over is imminent. Current management professional, but lack insight - and pig-headed enough to not be looking for help from the right parties. US interests (Google, AOL) should be more interested in the main advertising game, not classifieds. Others (News? WPO?) are potential brokers. Non-US interests in this sector are quite strong, but financing a likely problem for all but those tied to recruiters. Most likely scenario is uninformed management continues to lose ground in US, be lucky offshore, and takeover does not take place. Stock to drift to ~$20 unless institutional investors get active, and approach the less-obvious owner-managers of this business. Institutional holders are among the smartest on the block and globally - why don't they act?
      Feb 05 06:55 PM
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