Compuware SOLD for $2.5 billion to a San Francisco co. NO layoffs. HQ staying in Det

Printable View

September-02-14, 09:40 AM
SpartanDawg

Compuware SOLD for $2.5 billion to a San Francisco co. NO layoffs. HQ staying in Det

Very happy they're keeping the HQ here in detroit, would've been heartbroken if they left somewhere else. Compuware kind of started the resurgence of downtown by building their HQ here a few years ago. Still think Gilbert will most likely buy the compuware building if he can.

quotes from the article:

"He said the company’s headquarters will remain in Detroit and there will be no layoffs. Current management will be retained, he said. "

"Paul said the sale of the company will have no effect on a possible building sale but declined to say if the building was on the market." re: campus martius HQ.

http://www.crainsdetroit.com/article...bravo-ceo-says
September-02-14, 09:53 AM
Bham1982

Rename bldg. to Quicken Loans bldg. Gilbert can issue fancy press release on the claimed Dubai-like downtown boom.
September-02-14, 09:59 AM
56packman

"There will be no layoffs" and "Current management will be retained" is standard post-purchase boiler plate language, it takes a while to formulate plans, then it's "Do you have a minute"?
Been through that before.
September-02-14, 10:24 AM
Scottathew

I wish them well. I know some folks that work for Compuware, and it's not exactly a happy place to work at.
September-02-14, 10:37 AM
stinkytofu

Quote:

Originally Posted by 48307

I wish them well. I know some folks that work for Compuware, and it's not exactly a happy place to work at.

Yeah, it's been a very rough work environment for the last few years.

Great news though. Obviously great to keep jobs in the city.

Interesting side effect - will this impact Meridian's plan for the new HQ downtown? Rumblings were they were shying away from building new given there was a possibility that a ton of office space would open up in Compuware HQ. Seeing as no new layoffs will occur [[hopefully), seems like they may still consider building?
September-02-14, 11:27 AM
mwilbert

Quote:

Originally Posted by stinkytofu

Yeah, it's been a very rough work environment for the last few years.

Great news though. Obviously great to keep jobs in the city.

Interesting side effect - will this impact Meridian's plan for the new HQ downtown? Rumblings were they were shying away from building new given there was a possibility that a ton of office space would open up in Compuware HQ. Seeing as no new layoffs will occur [[hopefully), seems like they may still consider building?

If that was what they were concerned about, I would imagine they would wait until the dust settles.
September-02-14, 11:43 AM
DetroitPlanner

I am out $700. At least I can claim it on taxes as a loss.
September-02-14, 11:53 AM
stinkytofu

Quote:

Originally Posted by mwilbert

If that was what they were concerned about, I would imagine they would wait until the dust settles.

Well, I'm kind of hoping that this announcement is finally the dust settling. Everything has been in limbo for a few years now and at least there appears to be a set long-term plan at this point.
September-02-14, 12:04 PM
sirrealone

I once worked for a company that was acquired, and the CEO of the old company and some of the bigwigs of the bigger company got us all together and fed us the 'no layoffs' line.

Then a couple of weeks later, they 'laid off' the old CEO and walked him out of the building.

And that wasn't even a purchase by a private equity firm.
September-02-14, 12:23 PM
preserve

A new broom sweeps clean. Nature's way.
September-02-14, 12:36 PM
Gistok

For those who cannot read the linked article... just Google "Crain's Detroit Compuware Sold"... and click on the appropriate link... to get the whole story....
September-02-14, 01:08 PM
Danny

Peter Karmanos, What are you thinking!!!! You should have sold Compuware to Dan Gilbert.
September-02-14, 01:33 PM
Wings

Quote:

Originally Posted by stinkytofu

Yeah, it's been a very rough work environment for the last few years.

Great news though. Obviously great to keep jobs in the city.

Interesting side effect - will this impact Meridian's plan for the new HQ downtown? Rumblings were they were shying away from building new given there was a possibility that a ton of office space would open up in Compuware HQ. Seeing as no new layoffs will occur [[hopefully), seems like they may still consider building?

As a Meridian employee I can tell you that the new headquarters was still very much a part of the company's plan as of July. Any news since then is news to me.
September-02-14, 02:19 PM
hybridy

Quote:

Originally Posted by Wings

As a Meridian employee I can tell you that the new headquarters was still very much a part of the company's plan as of July. Any news since then is news to me.

no offense, but people on the ground in meridian likely don't know more than what's fed to the general public. i don't think that's unique.
September-02-14, 04:35 PM
Inkadinkado

As a rule private equity is a mo-fo. Make the numbers or changes will happen. Maybe there's an exception, a place run by rainbow unicorns, but I've never seen it. Hang on, Compuware guys.
September-02-14, 08:10 PM
rex

this is terrible news.

Quote:

Originally Posted by Danny

Peter Karmanos, What are you thinking!!!! You should have sold Compuware to Dan Gilbert.

Wasn't his to sell Danny.

https://scs.fidelity.com/common/alwa...e_darkblue.gif Institutional Stock Ownership 80.8%

https://scs.fidelity.com/common/alwa..._bluehatch.gif Institutional Mutual Fund Ownership 8.7%

https://scs.fidelity.com/common/alwa...are_yellow.gif Mutual Fund Ownership 5.9%

https://scs.fidelity.com/common/alwa...are_orange.gif Insider Ownership 1.1%

https://scs.fidelity.com/common/alwa...uare_green.gif Other 3.5%

He was even run off in 2013 after these remarks.

Quote:

Karmanos was quoted in a story in the Detroit Free Press later that day as saying, "Current management of Compuware needs to get their head out of their ass, all right, and understand they have more responsibility than playing some kind of silly game with some jerks in New York City."

Karmanos was also critical of the board and CEO Bob Paul for putting the needs of shareholders ahead of the needs of the community and employees.

September-02-14, 10:09 PM
Hypestyles

where can you apply for jobs with the new company?

https://scs.fidelity.com/common/alwa...e_darkblue.gif	Institutional Stock Ownership	80.8%
https://scs.fidelity.com/common/alwa..._bluehatch.gif	Institutional Mutual Fund Ownership	8.7%
https://scs.fidelity.com/common/alwa...are_yellow.gif	Mutual Fund Ownership	5.9%
https://scs.fidelity.com/common/alwa...are_orange.gif	Insider Ownership	1.1%
https://scs.fidelity.com/common/alwa...uare_green.gif	Other	3.5%

Quote:

Originally Posted by Lowell

Wasn't his to sell Danny.

https://scs.fidelity.com/common/alwa...e_darkblue.gif Institutional Stock Ownership 80.8%

https://scs.fidelity.com/common/alwa..._bluehatch.gif Institutional Mutual Fund Ownership 8.7%

https://scs.fidelity.com/common/alwa...are_yellow.gif Mutual Fund Ownership 5.9%

https://scs.fidelity.com/common/alwa...are_orange.gif Insider Ownership 1.1%

https://scs.fidelity.com/common/alwa...uare_green.gif Other 3.5%

He was even run off in 2013 after these remarks.

Thanks boss, I wanted to chime in and defend him as well but didn't have the time to line up the sources for defending a wealthy guy who stood up for Detroit. Pete K has had the D's back for a number of years. I hope that this sale works out. The sale of compuware seems that it could go either way right now.