More than once, outgoing System Software Associates (SSA) CEO Roger Covey had to explain to investors why the stock price was not what it should be. But sometimes, even he was at a loss. On two separate occasions, SSA’s stock plunged for no apparent reason. Later, it was discovered that a completely unrelated company with the same initials had announced disappointing results. SSA executives were able to use this fact to demonstrate that Wall Street did not understand it. But SSA, is not unique in having trouble with initials. SAS Institute, the privately-held supplier of statistical analysis software, has its UK headquarters in a historic building in the English countryside. During a particularly bad period of IRA terrorist activity, a journalist from the tabloid Sun newspaper was able to evade security (there wasn’t any) at the entrance to SAS’ headquarters and reached the reception hall unnoticed, whereupon he took photographs and quickly retreated. Thinking he had penetrated the heart of the operations center of the crack military Special Air Services military unit, and to the bemusement of SAS staff, he wrote up his scoop for front-page treatment the next day.
