The Status Is Quo for McKinney

Whither McKinney & Silver?

Despite last week’s rumors and published reports, the toughest question being debated in industry circles was not whether marchFirst, the troubled e-commerce services giant, would sell off the Raleigh, N.C., shop, but “Why?”

With the Chicago-based parent company’s stock trading at barely $1.40 per share (down from a high of $81.12 a year ago), the easy answer was to raise desperately needed short-term capital to keep the business afloat.

Ken Kinsella, marchFirst vice president who oversees mergers and acquisitions (and divestitures), insisted that McKinney remains a critical if not vital part of the parent’s array of services.

“You could argue that in a slimmer and more stable environment, McKinney is not as strategic an asset as our technical consulting business,” he said.