[quote=SK in CV][quote=flu]yes folks, buy more intuit software. I still have equity from there and it would be nice if it can double again….:)
If you haven’t tried it already quickbooks and go payment… Just saying….[/quote]
Funny you should bring that up. My former employee left to work for Intuit in the fall of 1994 (I just looked it up.), and one of the things they gave him was a shitload of market value options. They wouldn’t ordinarily vest for a couple years or more, but in Oct. 94 Microsoft tried to buy Intuit to get Quicken. Intuit stock shot up, and had the transaction closed, all his options would have vested. His take on the deal would have been well over $1M. Pretty good deal for a guy in his late 20’s. But alas, the DOJ said no go, MSFT can’t buy that winner. So his >$1M disappeared. At least for the moment. The stock is currently 20X higher than it was then, so I’m sure he’s made that money and much more since then. But that instant millionaire status would have been pretty nice for him back then.
Sorry for the hijack.[/quote]
Judging for the comps I was seeing a few years ago, I’m sure he did alright…Maybe not early 1990’s Qualcomm well, but still well.
Intuit is a pretty well run company. I really can’t say too many bad things about the company (which is unusual for me, because I always have something critical to say about a firm, big or small…)
They’ve got the tax business pretty well dialed in. There was a bunch of jokers that use to say, just wait until (1) the another company comes into their tax prep space or (2) wait until the government simplifies taxes, then it’s screwed… Ain’t gonna happen. #2 is never gonna happen…(come on, our tax system is one of the most complicated ones around).. And #1 is really not going to happen, because the barrier to entry is so high to develop good prep-software…
There was at one point folks were concerned about Intuit’s growth story. But they’ve been trying to get into the small biz market, which if they are successful, would be a good thing. Their acquisition of GoPayment was a good thing, since mobile payments will be huge.
Company stock,under Bennett, didn’t really move during those few years. Not really his fault. He was actually a good leader imho…Under Brad Smith, the company has been trying to go after growth, and it seems to be working (somewhat)…The stock has been hitting all time highs recently, for whatever reasons.
I think my only gripe of the company was I wanted to work on something more geeking/nerdy/hardcore, and it probably wasn’t the best fit for me. Kinda stupid on my part because factoring in the base pay + almost guaranteed bonus 20-25%+ (for decent good performers) stock options + RSU + generous vacation + decent health plans versus what I get now + hours to deal with overseas customers, development, etc, I took a pay cut for the privilege of working on “stuff that is cooler”….Hmmm……(dumb ass, lol…People said I was nuts for leaving…Then again, people said I was nuts for leaving QC too, and about a 4-5 other startups…)
