Some of you have so much butthurt and free time that you're able to write essays projecting your pain and obvious to all of us the final drafts, your 'magnum opus' have been published for free on this site. Let us not forget though, that what's most important to many of us in these upcoming cold months: Organic soup tasting and stirring will be what matters most.
11 replies (most recent on top)
Yikes guys. Soooooo angry. And pathetic. Tell us about your glorious new positions, post-Cengage. I’d love to hear.
@3llb+17kLDjph Are you kidding me!?! I work in editorial and have never been to an NES....
I hate you soup. I hate the stirring, I hate the heat, I hate the condensation and the wetness, I hate all of it. F— you soup. Plus, f— you beef stew medley.
I will tell you when we hit the wall. It was several years ago perhaps two or three when the virgin incel CEO wizards and regionals released Cengage Unlimited... We were supposed to believe what we were told, it was at that exact NES that management decided as a team building exercise we would play putt putt golf with the canned food destined for homeless people. That's right, Cengage bought a few pallets of green beans and creamed corn and then hired a horseshit marketing company from somewhere and required we play games with canned food that was destined for the homeless via a soup kitchen no doubt. We made ridiculous miniature golf vignettes out of these cans of food, played games etc and then cengage submissives carried the cans away to some homeless shelter. It was nothing but shallow virtue signaling and to this day I feel sick to my stomach even remembering this disgusting event. F— you Cengage and f— your cans of soup.
If you're always saying things like "ethos" and "northstar" and "impactful," you're not a serious person doing real work. It's been awhile since you actually did any real work. You're riding on the backs of people who are doing real work to get something done.
When it’s cold I like home made soups too, plus stews and fresh baked bread. Does anyone else like to stir their hot soup to cool it down with a bread stick while blowing the steam from the rim of the bowl? A fresh tossed salad too with cherry tomatoes and cream dressing is a nice accoutrement.
@1lkc+17kLDjph Thanks for the update Kermit.
Soup Guy is back. Talk about too much time on ya hands...
Cengage stock just gained $1.25 It’s now at $4.50.
Just staving off bankruptcy is an awfully low standard for an employer. I don't know if they're going to go under soon or not. Credit rating agencies certainly seem to think its more likely than not. What I do know is company revenue and the overall size of the ed textbook market continues to shrink every year. That means Cengage is going to be a terrible place to work for the forseeable future. More beatings in the form of 0.5% merit increases, missed bonuses and, of course, layoffs will continue.
Cengage is worth less than its outstanding debt. Therefore bankruptcy is inevitable since Cengage will be unlikely to rollover its current loans when they come due. The revolving credit line of $250M expires June 7, 2021. Cengage should probably be able to roll this over or largely live without it. June 7, 2023 is the big date when $1,710M secured note is due. This will likely push the company into bankruptcy again since it will be unable to obtain another loan to pay back the current note holders.
Cengage currently has plenty of cash flow to support interest payments, but if the cash flow deteriorates faster failure to pay interest payments may push Cengage into bankruptcy prior to June 2023. The more likely scenario is that they will continue to cut cost to make all interest payments delaying bankruptcy until 2023.