Goldman Pees on Software As Service KNXA, SFSF, TLEO
Goldman out with a bearish call on three "human capital management" companies in the red-hot Software-As-A-Service (SaaS) market: Kenexa (KNXA), SuccessFactors (SFSF), and Taleo (TLEO). The bottom line? Too expensive, too competitive, and deteriorating environment for enterprise spending:
Still, Goldman can't resist recommending a pair trade: long Kenexa, which has been battered to 1.7x EV/2007 sales by a whiffed quarter (a problem with one client, Goldman believes), and short the popular "best of breed" Taleo, which is trading at 5.2X sales. Goldman believes such a trade neutralizes the macro exposure.
Sounds logical, but we would add the following: In our experience, it's hard to count the number of folks who have blown themselves up shorting "expensive" tech stocks or died waiting for "value" tech stocks to recover.
Still, Goldman can't resist recommending a pair trade: long Kenexa, which has been battered to 1.7x EV/2007 sales by a whiffed quarter (a problem with one client, Goldman believes), and short the popular "best of breed" Taleo, which is trading at 5.2X sales. Goldman believes such a trade neutralizes the macro exposure.
Sounds logical, but we would add the following: In our experience, it's hard to count the number of folks who have blown themselves up shorting "expensive" tech stocks or died waiting for "value" tech stocks to recover.




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Welcome to Audio Mechanical Corporation Ltd.
Our company is divided into Electronics Manufacturing Chinaranscript/summary follows. Video highlights, in two parts, at bottom of post.
three specialized China Electronic Manufacturerfacilities in strategic locations:
> Our management, sales, engineering and purchasing departments are USB Driveconveniently headquartered in Hong Kong's World Finance Centre.
> Central warehousing and Flash Drivelogistics are located in a separate commercial area of Hong Kong.
> Our well-equipped factory is located
Micro SDin the Longgang district of the Subcontract Pcb Assembly
mac-dvd-ripper
反应釜 介绍:反应釜由锅体、锅盖、搅拌器、夹套、支承及传动装置、轴封装置等组成,热交换器材质及开孔可根据用户的工艺要求制定。
反应锅介绍: 反应锅由锅体、锅盖、搅拌器、电加热油夹管、支承及传动装置、轴封装置、溢油槽等组成,并配有电加热棒及测温、测压表。
冷凝器介绍: 蒸发冷凝器,采用引风、逆流式结构,因此,维修方便使用寿命长,节水电运行费用低,不污染环境,使用寿命长及维修简便等众多优点。
化工设备介绍:
本公司产品:反应锅以设计、生产非标、反应釜非金属化工设备为主, 依材质可分为:R-PVC、纯PP、改性PP、FRP以及上述塑料的FRP增强,亦制碳钢、铝、不锈钢等金属设备。冷凝器按设备种类可分:贮罐(槽)、反应釜、填料塔、反应锅离子交换柱、冶金萃取槽、电镀槽、三废处理成套设备、汽车(船)运槽罐、反应釜塑料离心风机等,本厂设备广泛用于化工、染(颜)料、医药、冶金、食品、交通、石油、环保等行业。
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