Personal Business Memo

(The eight businesses acquired in fiscal 1993, which were generally unprofitable at the time of acquisition, continue to improve their profitability . . .(

( Stephen Sadler, President and Chief Executive Officer, Geac 3rd Quarter Report

I was laid off in June 1993 by ECI Computer, a victim of the unprofitability which you referred to in Geac(s third quarter report. Today, four months after I returned to the organization, I was again laid off, this time by Geac, a company which posted a net return on sales of 15 percent for the last quarter.

When I was approached by a member of Geac/ECI to rejoin the company in December 1993, I carefully weighed my decision. I was beginning to make headway as an independent contractor (indeed, I had a sizable contract pending at the time I was called) and had to question what had changed at ECI which would merit returning.

The deciding factor was the acquisition by Geac. After doing some research into Geac and its subsidiaries, I was convinced that Geac would bring not only much-needed cap

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Category: Business - P