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Trinsum

 
#1 Trinsum
22/08/2008 20:07

Would_appreciate_any_help

Trinsum .... i have noticed that there is very little information/discussion about them on this board....if you know something about them could you please share are they doing well ? what is it like working for them ? etc ....thanks,

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#2 RE: Trinsum
23/08/2008 11:55

$0.02 to Would_appreciate_any_help (#1)

maybe try search for Marakon?

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#3 RE: Trinsum
23/08/2008 16:33

George to Would_appreciate_any_help (#1)

Financial situation hasn't improved since the forced sale. Marakon brand was damaged by association and the subsequent exodus of talent, hence dropping the brand in favour of Trinsum. Joining now is a gamble on whether the new leadership is interested in & capable of rebuilding a consulting business (by no means a sure thing).

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#4 RE: Trinsum
24/08/2008 01:08

thanks to George (#3)

Thanks George....thats really good to know...you said forced sale ?...could you please give me some more insight...thanks....

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#5 RE: Trinsum
24/08/2008 09:33

Marakex to thanks (#4)

Irreparable fallout of partners + some client relationships going bad + key players quitting + web of lawsuits back and forth = became v.diff to manage the business on ongoing basis

Sale was just one of the options on the table, but the Trinsum offer came at just the right time. There was more discussion (prob on this forum too) - various points of view on whose fault it was, etc.

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#6 RE: Trinsum
28/02/2009 16:59

So long and thanks for all the fish to Marakex (#5)

Trinsum (Marakon), quietly filed for Chapter 11 at the end of January and is now in a "persistent vegetative state". The website (www.trinsum.com) is still up right now, but with only a short formal notice:

<i>Trinsum Group, Inc., a holding company, announced this week that it has filed a voluntary petition under Chapter 11 of the Federal Bankruptcy Code in the United States Bankruptcy Court in the Southern District of New York. The Chapter 11 proceeding does not include the Company's operating subsidiaries, including its consulting subsidiary, and their operations will not be affected.

During the past several months, the Company had explored a number of alternatives to strengthen the Company's financial base, resolve certain legal issues, and dispose of non-core businesses outside of Bankruptcy. Despite some progress, the Company concluded that the Chapter 11 route provided the most efficient mechanism to achieve its goals with minimal disruption to each of its businesses.

"We have come to the conclusion that our businesses are better off as focused and independent entities," said James McTaggart, current Chairman of Trinsum. "The goal of the reorganization is to separate each of these businesses in order to permit each to continue to operate independently of one another as strong and focused concerns."</i>

A temporary website has put up on the resurrected www.marakon.com whilst buyers are sought for each of the firm's offices and assets. Per previous posts on this forum, it did not prove viable to sell or run the consulting business as one unit. Junior employees have been put on notice and advised to seek new positions; senior employees have been bound in to assist with the transfer of ownership and intellectual capital, and the wind-down of client obligations.

Not entirely unforeseen for those who worked there in recent years, but not much fun either.

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#7 RE: Trinsum
11/06/2009 13:27

Sim to So long and thanks for all the fish (#6)

Headline: Marakon sold (again), this time to CRA

Subtext 1: Massive downsizing - e.g. less than 50 of 300 employees being kept on

Subtext 2: Marakon as a brand effectively pronounced dead, never to return. Lost most of its prestige in past years, permanently diluted now by association with CRA(p).

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