Looks like Bush did privatize some of Soc. Sec.

[dixiegrrrrl]

People on Soc. Sec. Disability are getting letters encouraging them to seek job training, placement, and related services via a company called Maximus.
http://www.yourtickettowork.com/

This is a brief description of the program:

"Ticket to Work" is a new Social Security program. The goal of the program is to assist people receiving Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI) benefits based on disability obtain employment and earn enough money to end the need for cash benefits. The program is voluntary."

VOLUNTARY...except in the letter, there is a veiled threat..
it says people who sign up with Maximus will be "protected" from medical reviews of their disability claims.
Sounds like an offer they can't refuse.

So I am tracking down Maximus, who they are, who the CEOs are etc.
They seem to have a lot of gov't contracts, over the past 5 years.
Listed on the Stock Exchange. ( MMS)

http://www.maximus.com/corporate/pages/productsintro.asp
where I find their..."products"

"More than 1,400 school districts, some 50 airports, in excess of 160 courts, and more than 100 of the nation's leading colleges and universities utilize MAXIMUS products. Additionally, multiple agencies and departments of the Federal government rely upon our products."

anyone know about these guys?

The irony is they want to end support of people of disability while at same time the states have been gutting the Medicaid programs.
and finding work for the disabled in a Depression....



right.

[snot]

1. K&R'd

[BlooInBloo]

2. Do you know what the phrase "privatize Social Security" *means*?

[napi21]

3. I never heard of them, but I believe most people who are on disability

would be thrilled to be able to work if they could. It doesn't sound like such a bad deal to me.

[kickysnana]

4. I have not heard anything bad about these folks..

What most disabled people need right now is a raise in the limit that keeps their Medicare intact. It is the same as it was 9 years ago currently $750 before taxes, meaning you can take home omly $500 but there are costs to being employed, clothes and transportation. Most disabled people spend a lot of their "extra" money on dental care or medical things that Medicare will not pay for and there are more of those very year. With pre-existing conditions you have to make a huge salary to compensate.

Sometimes you are faced with a choice of turning down a raise or having to reduce your hours and your employer may not see that as an asset.

[dixiegrrrrl]

5. The point is having a private company paid by tax dollars to over see the gov. program areas.

anytime you add layers of functions between tax funded government programs and the people the programs are supposed to serve, the cost climbs dramatically.
Little of the benefits "trickle down" to the recipients.

I am not arguing against people with disabilities finding work.
I am concerned about the layers of private companies who benefit from the programs designed to help those who want jobs.
and a bit upset by the implied threat that if you don't voluteer, you could be subject to a review of your disability.
Disclosure: I have worked in Social Services since 1970, in various programs and levels.
I know the system, I know the problems, I know what does not work for the clients.

[rfranklin]

6. This is the toe in the door method...

They're like the proverbial Fuller Brush salesman, once in your home you can't get rid of them until you buy the junk they're peddling.

[napi21]

7. I believe you that layers of bureacuracy are bad, but I think the

reason many of these layers are put in place is because of the gross abuse the various gov't agencies have displayed in the past.

Why did Obama have to warn his agencies & even the Governors & Mayors that they better not misuse the fed funds they're getting or he will call them out? Because that's what usually happens!

We just signed up for SS last Oct. and I was amazed at how smoothly and efficiently the process was. But U've heard so many people who HAVE had problems, I almost think we were the exception.

[dmr]

8. I pulled this off the SSA website -

If anyone can understand the confusing gobbligook, please explain.

http://edocket.access.gpo.gov/2008/E8-10879.htm

[Thickasabrick]

9. This just sucks....people have to spend years sometimes arguing

with SS just to receive the benefits they deserve - then to put them through this shit. Disgusting.

K&R

[Joanne98]

10. Here's an organization chart...

http://www.maximus.com/corporate/pages/organization.asp

[Joanne98]

11. The CEO

Richard A. Montoni
CEO/President/Director
Maximus, Inc.
Reston , VA
Sector: SERVICES / Education & Training Services
Officer since March 2002

57 Years Old

Richard A. Montoni was named Chief Executive Officer and President of MAXIMUS in April 2006. Previously, Mr. Montoni served as our Chief Financial Officer and Treasurer from March 2002 to March 2006. Mr. Montoni served as Chief Financial Officer for Towers Perrin, a global professional services firm, during April 2006 before rejoining MAXIMUS and his appointment as Chief Executive Officer and President. Before his employment with MAXIMUS, he served as Chief Financial Officer and Executive Vice President for Managed Storage International, Inc. in Broomfield, Colorado from December 2000 to August 2001. From October 1996 to December 2000, he was Chief Financial Officer and Executive Vice President for CIBER, Inc., a NYSE-listed company in Englewood, Colorado where he also served as a director until March 2002. Before joining CIBER, he was an audit partner with KPMG, LLP, where he worked for nearly 20 years. Mr. Montoni holds a Masters Degree in Accounting from Northeastern University and a Bachelor of Science degree in Economics from Boston University.

http://people.forbes.com/profile/richard-a-montoni/51764

Richard A. Montoni
Chief Financial Officer
MAXIMUS (MMS)

This section contains the Total Compensation for Richard A. Montoni at MAXIMUS, MMS The current role of Richard A. Montoni is Chief Financial Officer . Total compensation includes the salary for Richard A. Montoni, Chief Financial Officer . – Bonus information for Richard A. Montoni, Chief Financial Officer . Restricted stock, long term incentives payouts, and other compensation for the Chief Financial Officer . Also included is stock options information both number of shares and value for Richard A. Montoni, Chief Financial Officer for MAXIMUS MMS.

http://swz.salary.com/execcomp/layouthtmls/excl_execreport_114246.html

[Joanne98]

12. Dead yahoo finance message board...

http://messages.finance.yahoo.com/mb/MMS

[Joanne98]

13. Here's their earnings call for the first quarter....They think they're getting the SCHIP contract

Presentation

Lisa Miles

Good morning. Thank you for joining us on Maximus first quarter earnings conference call. I would like to point out that we have posted a presentation to our website under the Investor Relations page to assist you in following along with today's call.

With me today is Rich Montoni, Chief Executive Officer, and David Walker, Chief Financial Officer. Following Rich's prepared comments, we will open the call up for Q&A.

Before we begin, I would like to remind everyone that a number of statements being made today will be forward-looking in nature. Please remember that such statements are only predictions and actual events or results may differ materially as a result of risks we face, including those discussed in Exhibit 99.1 of our SEC filings. We encourage you to review the summary of these risks in our most recent 10K filed with the SEC. The Company does not assume any obligation to revise or update these forward-looking statements to reflect subsequent events or circumstances.

And with that, I will turn the call over to Dave.

David N. Walker

Thank you, Lisa. Good morning and thanks for joining us. This morning, MAXIMUS reported EPS results that were in line with our expectations and slightly ahead of consensus estimates. For the first quarter, MAXIMUS reported diluted earnings per share of $0.67 compared to $0.51 reported for the same period last year. Revenue for the period totaled $180.1 million. On a constant currency basis the top line grew 5% driven by the Operations Segment which grew by 11% and offset attrition from the consulting business.

Compared to the same period last year, net income grew 13% to $12 million and was driven by continued growth in the Operations Segment. The current economic environment has bolstered the US dollar which reduces the relative earnings of our international businesses when translated in the US dollars. As we discussed on our last earnings call, our ongoing share repurchase program helps to neutralize the impact of the strengthening dollar on our earnings, all in all it was a clean solid quarter that was inline with our expectations.

Let us turn our attention to segment level results. The Operation Segment now comprises 87% of total Company revenue and provides long-term visibility and predictability with a steady stream of recurring revenue. First quarter revenue for the operation segment increased 6% to $156.3 million compared to first quarter 2008 and 11% on a constant currency basis. As a reminder, all of our foreign operations are housed in the Operation Segment. As we have emphasized before, top line growth from the segment continues to be fueled by new and expanding work primarily in our health and federal business lines.

In the first quarter, growth in our domestic business helped balance the currency impacts from our international operations. The Operations Segment’s first quarter operating income grew 20% and totaled $21.3 million with margins coming in at expected levels of 13.7%. In the second quarter, we expect to experience a temporary dip in segment operating income in March with the return to higher margin levels in Q3. The dip in Q2 was principally related to project timing and refresh of a large contract, a project we successfully re-bid last year. January 1 marks start of this contract and the margin fluctuation is the result of the transition to the new contract and the associated investment in the technology refresh. The operation segment also experiences a seasonal up tick in the second half of the year, most notably in our tax credit business. Despite the fluctuation in Q2 on a full year basis, we continue to expect that the Operation Segment will still be able to deliver margins toward the higher end of our 10% to 15% range.

Moving on to the Consulting Segment, this segment represented 13% of total Company revenue with revenue totaling $23.8 million for the first quarter of 2009. The segment posted an operating loss in the quarter of $1.5 million. While this was a sequential improvement over the fourth quarter of fiscal year 2008, the loss in the quarter is principally due to a $2.5 million project charge due to cost growth on a legacy fixed price ERP contract.

Beginning in the second quarter, we do expect improvement in the Consulting Segment driven most notably from new work including a new contract award of the New York City Department of Education. We did have a delayed start on this project which shifted contribution to the right but the project is expected to provide a meaningful revenue and profit stream that will extend well beyond fiscal 2009. We will begin booking revenue on this new project in the second quarter and at that time, we also expect to record an additional $5 million in nonrecurring after revenue.

Let us turn our attention to total Company margins. For the first quarter, we achieved total Company operating margins of 11%. This was driven by the solid margin from our Operation Segment of 14% which was tampered by the loss in the Consulting Segment. While it is not unusual to see margin fluctuations quarter to quarter, we still maintain that the business can continue to run at or above a 10% operating margin over the long term.

Moving on to balance sheet and cash flow items. In December, MAXIMUS paid approximately $40 million in cash to settle its outstanding arbitration. As part of the settlement, MAXIMUS will receive an insurance reimbursement of $13 million in the second quarter. For the first quarter, MAXIMUS used cash from operating activities related to continuing operations of $21.2 million normalizing continuing operations, cash flow for the $40 million cash settlement paid in the quarter results in cash flow from operations of $18.8 million and free cash flow from continuing operations of $14.7 million. With the continued focus on receivables management, DSOs improved to 67 days in the first quarter. While there will be fluctuations due to timing, overall, we expect DSOs could range between 65 to 80 days. Management remains committed to its ongoing cash deployment strategies including our share repurchase program and cash dividends.

During the first quarter, we repurchased 740,490 shares of MAXIMUS common stock for approximately $23.2 million. At December 31, 2008, MAXIMUS had a $59.5 million available under its Board authorized program. Also during the quarter, we declared an increase of our quarterly cash dividend from $0.10 to $0.12 per share beginning in February. We ended the first quarter with cash totaling $61.5 million at December 31, 2008. We also have available line of credit of $24.6 million providing the Company strong liquidity and flexibility in this demanding market.

Before I turn the call over to Rich, I will wrap up with guidance.

Based on what we see today, we remain on track to meet the expectations we laid out at the onset of the fiscal year. While MAXIMUS is reasonably insulated given the current environment, we have experienced some in material work delay do in part to state’s current situation in dealing with the current fiscal challenges. This has resulted in some revenue getting pushed to the right. However, we believe these fiscal challenges could be offset by some modest benefits that the Obama initiatives could provide in the latter part of the fiscal year.

At this time, the majority of the potential benefits from any new legislation will be longer term in nature and are not expected to have a material impact until fiscal year 2010 and beyond. As a result, we are maintaining our full year revenue guidance but expect it to be towards the lower end of the $750 million to $775 million range. We are also reiterating our earnings guidance of $3.00 to $3.15 per diluted share. We expect that second quarter earnings will be slightly down compared to our first quarter. We anticipate the return of earnings growth in both segments in the second half of the year driven by new work and seasonality. The larger element of improvement will be from seasonality in our tax credit business, a seasonal factor we have experienced annually in the past.

We also maintained our cash flow guidance which we revised when we announced the arbitration settlement. Cash flow from continuing operations for the full year is expected to be $35 million to $45 million with free cash flow of $15 million to $25 million.

Thank you for your time this morning. Now, I will turn the call over to Rich.

Richard A. Montoni

Good morning, everyone. I am pleased to be here with you today to discuss our solid performance in the first quarter. In summary, we delivered steady performance in the past quarter and we are ready to deal with the substantial opportunities ahead despite the economic challenges out there. Dave has already covered the quarter's financial results in detail and I will focus my comments today on what is in store for MAXIMUS going forward.

We are operating in a time of fast-moving market dynamics that surely will impact our prospects and performance over the next several quarters and years and I believe that impact will be very positive for MAXIMUS. Our business today stands well positioned to benefit in the long run from greater demand for our services due to the economic slowdown and new legislation that calls for expansion of existing programs. This includes increased funding through the proposed $800 billion plus stimulus plan as well as increased SCHIP funding of $32.8 billion in new spending over the next quarter and one-half years.

The anticipated American Recovery and Reinvestment Act and the reauthorization of SCHIP both encompass many of the benefit programs in which we operate, in fact, in offerings where MAXIMUS is the market leader. The stimulus package is expected to deliver much needed relief to states. The Bipartisan National Governors' Association,
Continued>>>

http://seekingalpha.com/article/120988-maximus-inc-q1-2009-earnings-call-transcript?source=yahoo

[Joanne98]

14. MAXIMUS Awarded Iowa SCHIP Administration Contract

RESTON, Va.--(BUSINESS WIRE)--MAXIMUS (NYSE:MMS - News) announced today that its Health Services division has been awarded a re-bid contract by the Iowa Department of Human Services to provide administrative services for the State Children's Health Insurance Program (SCHIP). The three year contract is valued at approximately $7.1 million.

Under this contract, MAXIMUS will continue to determine eligibility and manage the enrollment of children into health and dental plans under the Healthy and Well Kids in Iowa (hawk-i) program. MAXIMUS has provided continuous administrative support for the hawk-i program since 2000, including the development and maintenance of an enrollment and financial accounting system, as well as a web-based application system for external customers.

“As the leading SCHIP enrollment administrator, MAXIMUS is pleased to continue our relationship with the hawk-i program,” stated MAXIMUS CEO Richard Montoni. “This latest competitive award demonstrates the confidence the Iowa Department of Human Services places in us to fully meet the needs of the state's uninsured children.”

MAXIMUS is a leading provider of government services and is devoted to providing health and human services program management and consulting services to its clients. The Company has more than 6,000 employees located in more than 220 offices in the United States, Canada and Australia. Additionally, MAXIMUS is included in the Russell 2000 Index and the S&P SmallCap 600 Index.

http://finance.yahoo.com/news/MAXIMUS-Awarded-Iowa-SCHIP-bw-14305283.html

[Joanne98]

15. MAXIMUS (FORMERLY JEFFERSON CONSULTING GROUP - MAXIMUS)

http://www.implu.com/lobby_client/40509

[Joanne98]

16. MAXIMUS, INC. Lobbying Activities for 2008

Date Issue(s) Firm Income Expenses
2008-03-31 Welfare JEFFERSON CONSULTING GROUP, LLC 60,000 0
2008-12-31 Medicare / Medicaid BARBOUR GRIFFITH & ROGERS, LLC D/B/A BGR HOLDING 30,000 0
2008-03-31 Medicare / Medicaid BARBOUR GRIFFITH & ROGERS, LLC D/B/A BGR HOLDING 30,000 0
2008-06-30 Medicare / Medicaid BARBOUR GRIFFITH & ROGERS, LLC D/B/A BGR HOLDING 30,000 0
2008-09-30 Medicare / Medicaid BARBOUR GRIFFITH & ROGERS, LLC D/B/A BGR HOLDING 30,000 0
2008-06-30 DUTKO WORLDWIDE, LLC 0 0
2008-09-30 Medicare / Medicaid MAXIMUS, INC. 0 150,000
2008-12-31 Veterans JEFFERSON CONSULTING GROUP, LLC 0 0
2008-12-31 MAXIMUS, INC. 0 160,000
2008-03-31 Government Issues, Health Issues, Medicare / Medicaid MAXIMUS, INC. 0 150,000
2008-03-31 Housing DUTKO WORLDWIDE, LLC 0 0
2008-09-30 JEFFERSON CONSULTING GROUP, LLC 0 0

http://www.implu.com/lobby_client/3336

[Joanne98]

17. Insider transactions......

http://finance.yahoo.com/q/it?s=mms

NET SHARE PURCHASE ACTIVITY

Insider Purchases - Last 6 Months
Shares Trans
Purchases N/A 0
Sales 22,217 7
Net Shares Purchased
(Sold) (22,217) 7
Total Insider Shares Held 369.95K N/A
% Net Shares Purchased
(Sold) (5.7%) N/A


Net Institutional Purchases - Prior Qtr to Latest Qtr
Shares
Net Shares Purchased (Sold) (5,003,190)
% Change in Institutional Shares Held (33.1%)

Data provided by Thomson Financial

ADVERTISEMENT



INSIDER TRANSACTIONS REPORTED - LAST TWO YEARS
Date Insider Shares Type Transaction Value*
2-Jan-09 BELIVEAU RUSSELL A
Director 1,000 Direct Automatic Sale at $35.18 per share. $35,180
15-Dec-08 FRANCIS DAVID
Officer 2,500 Direct Option Exercise at $28.50 per share. $71,250
15-Dec-08 FRANCIS DAVID
Officer 2,500 Direct Sale at $34.01 per share. $85,025
1-Oct-08 BELIVEAU RUSSELL A
Director 2,000 Direct Automatic Sale at $35.99 per share. $71,980
30-Sep-08 PILOTI AKBAR
Officer 40 Direct Disposition (Non Open Market) at $36.84 per share. $1,473
30-Sep-08 WALKER DAVID N
Officer 20 Direct Disposition (Non Open Market) at $36.84 per share. $736
8-Sep-08 BOYER JOHN
Officer 3,599 Direct Option Exercise at $27.63 per share. $99,440
8-Sep-08 BOYER JOHN
Officer 3,599 Direct Sale at $37.24 per share. $134,026
12-Aug-08 FRANCIS DAVID
Officer 2,069 Direct Sale at $36.98 per share. $76,511
12-Aug-08 BELIVEAU RUSSELL A
Director 899 Direct Option Exercise at $27.63 per share. $24,839
12-Aug-08 BELIVEAU RUSSELL A
Director 899 Direct Sale at $36.93 per share. $33,200
11-Aug-08 FRANCIS DAVID
Officer 10,000 Direct Option Exercise at $27 per share. $270,000
11-Aug-08 FRANCIS DAVID
Officer 10,000 Direct Sale at $36.52 per share. $365,200
11-Aug-08 POND PETER
Director 150 Direct Option Exercise at $23.38 per share. $3,507
11-Aug-08 POND PETER
Director 150 Direct Sale at $36.97 per share. $5,545
16-Jul-08 BELIVEAU RUSSELL A
Director 2,000 Direct Automatic Sale at $35 per share. $70,000
31-Mar-08 PILOTI AKBAR
Officer 620 Direct Disposition (Non Open Market) at $37.29 per share. $23,119


It goes on for two years..
http://finance.yahoo.com/q/it?s=mms

[Joanne98]

18. The lobbyist are killing us.. Muckety map

http://www.muckety.com/Maximus-Inc/5035258.muckety

You got to click on Barbour...

BGR Group is the premier bipartisan government relations, strategic communications, and investment banking firm with offices in Washington and London.
The world-class BGR team of public policy advocates, financial transaction experts and public relations professionals are united behind one common goal: the success of our clients. With BGR at your side, you have a global partner in government, commerce and media.
Recent Events View all news >


Top Democratic Advisor Jonathan Mantz Joins BGR Group
> BGR’s aquisition of Westin Rinehart covered by Politico
Leading Democratic Advisor Morris L. Reid joins BGR

http://www.bgrdc.com/

I hope that Morris L Reid isn't related to you know who!

[dixiegrrrrl]

19. Jeez Joanne....that is impressive research....

My mouth is hanging open....
And confirms what I said...all these private companies making money on services to the disabled, the poor, children's programs.
Yet the companies do not actually provide one bit of actual client face to face services.
They manage, measure, oversee, and bill bill bill.
Non-profits used to do do ita ll, including providing the services.
Now I know why non-profits have all but disappeared.

You can shear a sheep many times, but you can only skin it once......

[CountAllVotes]

20. Ticket to Work is a joke

There are no jobs under this program - well if there are any to be found they are few and far between.

A lot of money has been spent to get this Ticket to Work program up and running but sadly there are no participants that are willing to hire people with disabilities.

This program "Ticket to Work" is nothing new btw. It has been around for several years and I do not know of a single disabled person that ever found a job via this BULLSHIT program which is a further waste of taxpayers money. :argh:

:kick:

[Jeep789]

22. Los Angeles County has used Maximus to run a portion of their

welfare to work program for years. They run the program in certain areas while the county handles the rest. Maximus' job placement rate is no better than the county's (and neither are anything to talk about).

[JohnWxy]

21. I tried to recommend this thread. but it was past the time. Very good stuff. Please keep us posted.

[dixiegrrrrl]

23. I am sending a ping to Obama web site about this garbage.

Maximus is a Bush co free lunch giveaway.