Commission percentages to be reduced for new pay plan

Funny how there was no press release for the single use intubation scope. Where did it catch fire? I heard the connection and picture issues are pretty awful. Ambu is going to continue to dominate the market. Why even try to sell that? Go sell your 1990s blades instead.

 

You’ll read about them in a press release when the FDA recalls them.

 

It is hilarious to think that Medtronic would consider acquiring Storz. Medtronic has some out-there execs, but there is no sane person willing to promote paying billions of dollars for Storz when they can develop their own in house solutions via a couple of $75m tuck-in acquisitions. You are right though, middle managers and the Storz sales channel aren't worth a penny.

 

Who said Storz is worth billions? Haha!

 

LOL, when Storz was approached by another possible acquirer the numbers discussed were several billions. Just a simple medical device, capital focused, industry standard, multiple of three times sales will get you there.

 

Well two big names turned in their notice this week. The biggest earner for Airway year in and year out was one. The comp plan is a joke. The managers are having a tough time spinning it asking everyone to reserve their opinions until the end of the year after they compare w2’s. That doesn’t work with true capital reps that require the instant gratification of knowing they are paid for what they sell today. Works fine for reps that are of the millennial generation. It is interesting though that the ones the plan was out in place to attract is the same plan forcing them to leave. The collateral is/are the tenured big hitters. They are all bolting or are moving to management.

 

Top down communication is pretty terrible from a vision perspective here. Makes you wonder....hence all these posts.....

Lots of uncertainty in this market in general which can be expected, but what is our 5yr/10yr vision?? Yea sounds stupid and corny but seriously, are we just reacting after we get beat down here? Airway- clearly damaged by the single use market dynamic- the small flexible scopes in urology will follow. Our single use line is a joke. Don't kid yourselves.

Storz can't expect to get so much revenue from repair business in the future. We need to be focusing more on R/D and bringing more products through the FDA or we will be left in the dust. NOT revenue gathering from confusing repair programs that make no sense. If anything, a true repair/loaner model with direct contact to our facility and not the rep would be great-- but that's clearly not our style- we'd prefer the reps wear 10 different hats and do it all half assed.

Comp plan -- lets face it, we might as well be a publicly traded company at this point.

I hope they get it right or put some people in place that will. I still think it's a good place, just a total dumpster fire right now.

 

Agree with most of this. Frankly, if Stryker wanted to kick our a$$ they'd just need to double down on their endo division and fill in their portfolio gaps for most specialties. Arthroscopy is a lost cause for all of us with Arthrex killing it. A lot of those Stryker endo gaps can be filled in with single use. For chumps like us left at KSI it's a race to the bottom...

 

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They should make Furtaw spend a week in a 4m territory and then the following week in a 1.2m territory. So he can witness the two reps making the same amount of money.

 

While having to deal with customer support where numerous follow ups are required to get the simplest task achieved like a booked order.

 

Hope you realize that your 4 million will be chopped down to 1.2 million shortly. What happened in Houston is the future. On the bright side that gives you more for
For growth sucker .

 

What a bummer not being able to see what you make on bookings or sales. Good thing it’s super easy to sell capital off contract otherwise that might be a real issue

 

Hard to believe this years NBM will have even lower moral than last year, but it will.

 

Does KS use runzheimer? Currently interviewing for 1st device position (several yrs pharma & B2B). TIA

 

So - what's the consensus regarding KS 2019?

What was good about it?
What wasn't?

What do you see happening in 2020?

 

Have you read this thread bro? Not many good things going on except for the ones getting OUT!! We shouldve sold to whoever would buy us a long time ago.join the sinking ship if you dare!!!!!

 

This company is unrecognizable versus 20 years ago. They no longer value the flow of information from physician end users to design engineers, at least not the USA authorized subsidiary of the company. What this means is that all USA marketing positions should just be eliminated since they aren't relevant at all.

 

This is going to be an awkward sales meeting where the sales reps all pretend they aren’t interviewing and the sales managers pretend they still believe in the comp plan and the leadership celebrate how they were the only ones who didn’t take a massive pay cut