Revenues and profits are improving. But on Feb. 5, Moody's Investors Service said it was reviewing CA's credit rating, since its cash flow is declining.CUSTOMERS
CA set up a 650-person customer-relations staff in 2000 to please buyers. Only 10% of CA's large customers felt satisfied.PRODUCTS
CA is forgoing major acquisitions and developing technologies internally. The glitch: R&D dropped 4% last quarter, to $165 million.CORPORATE GOVERNANCE
The board cut in half the 10-year term of its poison-pill takeover defense. But a search for outside directors hasn't yielded results.