Cole Engineering Reviews

1. Ownership The ownership of the company (majority ownership, i.e. preferred shares) has changed hands so many times over the past few years, and has NOT been communicated to employees. Would you work for a company if you do NOT know who the owner(s) is/are? 2. Lawsuits As a result of the change of ownership, I recently found out that there are a number of major lawsuits against the current owners and against the company at large, as there are major disputes of payment to previous majority owners. 3. Profitability (or lack thereof) The current President, who is trying to offload his own ownership, is preaching to employees that the company is profitable. This cannot be further from the truth. Revenue has been declining steadily and the company is not doing well financially at all. 4. Clients' Feedback Clients are slowly but surely becoming aware of the current status of the company and all the lawsuits. As a result, less work is being awarded to the company, as the current status as well as future of the company is unknown. Furthermore, clients are quite skeptical of the continuous change of staff both senior and junior. 5. Senior Management The current President, who has no Engineering training whatsoever, nor local industry experience, keeps on bringing people from overseas to run the company with no local training nor industry experience. It appears that it is just a matter of them buying ownership in the company. Current senior management is therefore not respected by employees, and as a result employees take the input of current senior management with a grain of salt. 6. House Made of Glass Adding the above five (5) factors, it is evident that this is a House Made of Glass. It would not surprise me at all if the company does not last much longer as the company is on the verge of bankruptcy, unless of course the current majority owners manage to find other "gullible" investors, similar to what the majority owners have done in the past.