RE: NewNews [UK data protection regulator receiving ‘large number of reports’ about Capita]26 May 2023 21:42
Laughinghelps et all - I've acknowledged and accepted that TerryM1 is bitter about CPI's management for obvious reasons. He's been invested in CPI for a very long time, and given a range of faux pas' from management over the years and given that its been a moribund investment for him, I'd bitter too, assuming I was blinkered enough to stay invested through these series of missteps. And this kind of own goal in miscommunicating the extent of 'issues' with the cyber hack probably cemented Terry's view of management which is that they're useless. OK,,
My take is, and I've said this before, they were quick to jump the gun in playing down the impact of the hack and I see why they were eager to do so. They'd just recently turned a corner operationally and set themselves up to generate FCF, susntainably so, in the coming years, and they were eager to dismiss the cyber headache quickly, and I'd wager that they did this on the back of an internal security team assessment in the early days, and no doubt these security chaps would've been eager to cover their backsides. With the Black basta leaks going public (samples), and I'm certain they'd have paid a ransom to prevent large scale customer data leaks, they'd have brought in specialist security teams who'd have identified the extent of the data exfiltration that occured, and this is where they are now. And they had this unsecured AWS bucket issue, and kicked off another round of hand wringing among their government clients, but that is probably a red herring, IMO. All of this focus on security will only help CPI in the medium/long term as they get their customers as well as prospects to focus on improvements they've made. It's a kick up their backside no doubt, but that's that.
"They have not yet won the contract, the info is in the part “selected as preferred bidder”. Lets' hope they do win this and have priced it correctly so we make some profit , more than they have on number of contracts in the past which have run at a loss. But of course they can run to form and c**k this one up." - @TerryM1 - this betrays a total lack of understanding of contract bidding process, both on the private as well as public sectors. Firstly, if you're named a preferred vendor/bidder, that's as good as won even if it's a net new opportunity, subject only to contractual T&Cs reviews. You need to remember that this isn't a net new opportunity for CPI - This is in essence an exrension of the current contract with additional scope of work around FAS assesssments. Knowing that CPI already has a framework with the UK government, the bar to clear contractual reviews is very, very low. CPI bid for the contract detailing the scope of work and the price to deliver this service, and that was accepted by DWP when they named CPI the preferred bidder. There is nothing really that CPI can do at this stage to f*uck this up, and someone who's a long term investor in CPI, I'd expected you to know better? What's the agenda?
Gwe
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