Deloitte Realizes Synergies From BearingPoint Federal Practice. Thousands Hired

Charles Harper, Big4.com

July 12, 2010

More than a year ago, on March 25, 2009, we wrote about the imminent breakup of BearingPoint with business assets being sold to various Big Four firms and to BearingPoint Europe management (http://bigfouralumni.blogspot.com/2009/03/bearingpoint-breakup-imminent-business.html).

We’ve moved. Click here to go the full post at the new Big Four Blog at Big4.com!

Is Social Media Creating Customer Service Anarchy? BearingPoint Thinks Yes.

Rob Starr, Big4.com
July 8, 2010

While most people are lauding the new move toward utilizing all the advantages that the Internet generation affords business, at least one consulting firm is saying the abundance of customer service contact points is confusing.

In other words, is too much social media just too much for business?

We’ve moved. Click here to go the full post at the new Big Four Blog at Big4.com!

BearingPoint and West Monroe Partners In Global Alliance

As many may recall, the US BearingPoint firm essentially went into bankruptcy in 2009, with PwC buying the US commercial consulting business and Deloitte purchasing the federal governmental consulting practice. The European part of BearingPoint was bought out by the local management who continue to operate the firm under the erstwhile name with 3,250 people in 14 European countries focused on commercial, financial and public services clients. And it appears they have been working hard behind the scenes...

We've moved. Click here to go to the full post at the new Big Four Blog at Big4.com!

The Big Four Group at LinkedIn Crosses Membership Landmark

At 20,000+ members, one of the largest networking groups for Big 4 Firm alumni and professionals

New York (PRWEB) February 23, 2010 -- Big4.com, the premier social networking forum for alumni and professionals of Accenture, Andersen, BearingPoint, Capgemini, Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers announced today that its LinkedIn.com sponsored group, the “Big Four Firms Alumni & Professionals Global Network”, (http://www.linkedin.com/groups?about=&gid=1022) has exceeded a landmark level of 20,000 group members. This group is now ranked fifth of over 90,000 alumni groups, and in the top 150 (top 0.3%) of over 500,000 LinkedIn group of all categories....

We've moved. Click here to go to the full post at the new Big Four Blog at Big4.com!

PwC Buys BearingPoint Commercial Services, Pays $19 MM More

Another development in the BearingPoint bankruptcy saga, after the finalization of the Federal Services unit sale to Deloitte for $350 million, the bankruptcy court has authorized the sale of the

North American Commercial Services business, including its Financial Services segment and

associated Global Delivery Centers, to PricewaterhouseCoopers (PwC), the highest bidder for this service line. Under the terms of its winning bid at an auction, PwC will acquire the majority of BearingPoint’s Commercial Services unit for $44 million, subject to contractual adjustments. Subject to customary closing conditions, the sale is expected to be finalized by the end of June...

We've moved. Click here to go to the full post at the new Big Four Blog at Big4.com!

BearingPoint Breakup Imminent, Business Parts Sold to Multiple Buyers

BearingPoint is very likely to break apart very soon, and sell all its businesses to either other Big4 firms or to local management teams. According the company’s press release on March 23, 2009, all parts of BearingPoint have been sold / in the process of being sold / likely to be sold in different parts to different parties as below...

We've moved. Click here to go to the full post at the new Big Four Blog at Big4.com!

BearingPoint Files for Chapter 11 Bankruptcy Today

Today, BearingPoint, Inc. announced “it has achieved a financial restructuring agreement with its senior secured lenders that will significantly reduce its debt and improve its capital structure.”

In other words, the firm is bankrupt...

We've moved. Click here to go to the full post at the new Big Four Blog at Big4.com!

BearingPoint Delisted from NYSE, Stock Less Than a Nickel!

Earlier, we had blogged on how BearingPoint’s stock had fallen below 20 cents a share, clearly others were also taking notice. Just days ago on November 13, 2009, BearingPoint, Inc. received notice from NYSE Regulation, Inc. that the NYSE had decided to suspend BE's common stock from trading prior to market opening on Monday, November 17, 2008. The NYSE based its decision on the "abnormally low" trading price of BE common stock, which closed at just 7 cents on November 12, 2008. Further, BE had previously fallen below the NYSE's continued listing standard for minimum average closing price of $1.00 over a consecutive 30 trading day period and minimum average market capitalization of $100 million over a consecutive 30 trading day period...

We've moved. Click here to go to the full post at the new Big Four Blog at Big4.com!

BearingPoint (NYSE: BE) stock price drops to 20 cents!

We blogged earlier that BearingPoint stock had touched its all time low of 50 cents a share in September. But that was before the current meltdown in the financial markets, with today’s (October 9, 2008) shocking drop in the Dow of ~ 700 points, BearingPoint’s stock has fallen further amazingly to an even lower all-time low of 20 cents, touching at one point an intra-day low of 17 cents.The entire company’s market capitalization is now only about $40 million, this for a consulting firm in annual sales in excess of $3 billion...

We've moved. Click here to go to the full post at the new Big Four Blog at Big4.com!

PwC People Blog On, Humanizing the Organization

Some months ago, we looked at who is blogging from inside at the Big Four firms. Our survey indicated blogs at Accenture (NYSE: ACN), Capgemini, PricewaterhouseCoopers LLP, Deloitte & Touche LLP, and one by KPMG LLP's Chairman.

We've moved. Click here to go to the full post at the new Big Four Blog at Big4.com!

BearingPoint Q2-2007 Results: Loss Widens, Gross Profits Drop

BearingPoint recently reported its Q2-2007 results for its second quarter of 2007 ending June 30, 2007....BE is catching up on contemporaneous SEC reporting, so this is for results achieved almost four months ago

Revenue for Q2-2007 were $875 million dropping from Q2-2006 levels of $893 million, and gross profit was $142 million, declining a whopping $49 million from $191 million prior. As a result net income (loss actually) widened to $(64) million from $(2) million in prior quarter...

We've moved. Click here to go to the full post at the new Big Four Blog at Big4.com!

BearingPoint Files 10-K for 2006, but Investors Wary

A few weeks ago, BearingPoint (NYSE:BE) filed its 10K for 2006, later than what the SEC allows for companies to file after the end of their fiscal year, but none the less good timing for BE given their past history. Most of the numbers were known to investors anyway so this was a formality. In terms of Q1-2007, BearingPoint indicated lower quarterly sales than the previous year, but mildly better than the previous quarter. Of concern is the voluntary turnover rate of almost 25%, indicating that one-fourth of the professional population is leaving each year, what is not reported is the turnover by managerial grade. Headcount was also lower in the quarter, which means that BE is hiring less than the turnover rate...

We've moved. Click here to go to the full post at the new Big Four Blog at Big4.com!

Stocks Routed: ACN, BE, CAP.PA Slide Down Big

Stocks got whacked globally today, from a 9% drop in China to a 414 drop in the Dow Industrials. There was just a sea of red with really no place to hide, except in cash or shorts...

We've moved. Click here to go to the full post at the new Big Four Blog at Big4.com!

BearingPoint Gets New COO, Ed Harbach

We notice that BearingPoint (NYSE: BE) has recently appointed a new President and COO, Ed Harbach, reporting to Harry You, CEO. Interestingly Ed Harbach also comes from Accenture, we believe where Harry You also spent some time as CFO. He is being awarded around 900,000 restricted stock units to vest over four years. BE stock has been flat recently, so if things turn around, there can be good upside for Mr. Harbach...



We've moved. Click here to go to the full post at the new Big Four Blog at Big4.com!

Where is BearingPoint’s (NYSE: BE) 10K?

Just a few week ago BearingPoint, Inc. (NYSE:BE)’s CEO, Mr. Harry You, had set a date by which the fully-vetted 2005 10-K would be released: Thanksgiving November 2006. On November 3, 2006, Harry You, the Company's Chief Executive Officer, said "We appreciate the continuing support of our shareholders, banks, surety providers, clients and employees in standing by us as we worked through this process....


We've moved. Click here to go to the full post at the new Big Four Blog at Big4.com!

PCAOB Behind the Curve on Big Four Audits

Big Four News on Wall Street Journal Front Page

Today’s WSJ carries two substantive articles on Sarbanes Oxley and PCAOB / Big Four Firms. It is the very first item on the What’s News front page column, indicating the extraordinary importance of these topics to investors and the business community at large. We are pleased to see that the issues we write about in our blog are critical, timely and central to business and capital markets...

We've moved. Click here to go to the full post at the new Big Four Blog at Big4.com!

How do the Big 4 Firms Rank in the Fortune 500?

Accenture (NYSE: ACN) came out 379th in the recent international Fortune 500 2006 ranking. In 2005, Accenture just made the cut with a rank of 455 out of 500.

Accenture's (NYSE: ACN) revenue of $17.1 billion and profit of $940 million makes it rank 3rd in the Computer Services and Software industry behind Microsoft and Electronic Data Systems...

We've moved. Click here to go to the full post at the new Big Four Blog at Big4.com!

Should BearingPoint Remain Public?

Credit ratings agency Moody's recently downgraded Bearing Point (NYSE: BE)'s ratings from B1 to B2, and put them on watch for further potential downgrade. The agency took note of

the firm's year-to-date cash outflows, due to finance and accounting systems costs and of course the inordinate delays in filing its 10-K and last but not least the huge employee turnover seen in Q2 -2006. These ratings are considered speculative...

We've moved. Click here to go to the full post at the new Big Four Blog at Big4.com!

BearingPoint: 10K Had Better Come Shortly!

So when is BearingPoint, Inc.'s (NYSE: BE) 2005 10K coming?

There is talk that this will now be coming in the next two weeks, provided of course, that BearingPoint, Inc. does not get to postponing it yet again. BearingPoint, Inc. has scheduled an investors' meeting on December 11th, 2006, so the 10K needs to come out soon, to give people enough time to get ready. The company came out in April 2006 with Q1-2006 results, and then...radio silence, as it skipped the business outlook presentation of July 2006. 10Q results for 2005 should come out in October 2006. When the 10 K comes out, BE (NYSE: BE) is expected to provide outlook on the business and financial results?...

We've moved. Click here to go to the full post at the new Big Four Blog at Big4.com!

Accenture (Champion) Beats BearingPoint (Champion) in Nail Biting Finish

The just concluded US Open ended with its fair share of thrills and upsets.

Phil Mickelson (the BearingPoint guy) (NYSE: BE) was the clear favorite and in top form running at plus 3 going into the 17th hole on the last round. He slipped by a bogey on the 17th to be plus 4 going into the 18th. A par on the 18th would have secured him victory and a place in the golf history books. But such is the fickle game of golf that Phil went twice past the hole and ended with a double bogey and a total score at plus 6...

We've moved. Click here to go to the full post at the new Big Four Blog at Big4.com!