Monday, January 31, 2005

First Post

Since I have detailed information about the inside workings of the Stanley-Laman Group, I think it is only fair to anyone doing business with or thinking of doing business with the Stanley-Laman Group to know the truth about the company and how bad the culture is for those who work there.

In my time there, I have seen more disturbing behavior from Bill Stanley than I care to see out of any individual ever again. He is completely irrational, prone to violence against employees, and delights in holding out money that is owed to his employees. It is almost as if he suffers from Bipolar disorder as he runs so hot and cold, you never know which Bill you will get and employees live in fear of "evil Bill". Ironically, the "good Bill" can be quite charming and fun to be with; that is what makes dealing with him so difficult.

Bill is prone to exaggeration as well. I couldn't believe sitting in a client meeting and hear Bill exaggerate the capabilities and size of the firm. In fact I was shocked to hear him tell the potential client that 20 people worked at the firm (its closer to 10), and quietly delighted when the potential client asked to walk around the office and meet the people. I didn't go on the tour, but it must have been fun to hear Bill try to spin how there was only space for 10-12 people.

He also likes to exaggerate the the amount of money the investment subsidiary manages. I have heard hgim quote numbers as high as a couple of billion dollars, but the actual number is well below $200 million. He also fancies himself an expert investor. Just ask for the performance numbers for the years 1997 thru mid 2002 when a professional money manager took over the full time management of the accounts. The accounts underperformed so severely that there was at least one investor lawsuit claiming unsuitable recommendations along with complete incompetence, and misrepresentation of investment capability. Beware to anyone investing with Stanley-Laman.

I have never seen any business function well with the incredibly high turnover in staff prevalent at Stanley-Laman. The average tenure of employees over the years cannot be more than a few months, and this includes the very few people that have somehow managed to stay there for more than a year. Morale is terrible and the work output suffers because of it. I even think Bill's own daughter hates him.

In short, Stanley-Laman is probably not the place Bill Stanley, David Eaton, and Jim Laman claim that it is. Ask other professionals in the Philadelphia area what they think of the firm, and especially of Bill. You may want to take a second look and do some more research before putting any of your money or trust there.