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  #51  
Old 07-18-2013, 07:16 PM
Anonymous
 
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Default Re: Quest IT Outsourcing

Whoever said GE would be the winning bidder is mistaken. Wipro and Cognizant are the companies being looked at for IT Infrastructure org, and I have to believe the announcement is coming soon.
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  #52  
Old 07-19-2013, 12:44 AM
Anonymous
 
Posts: n/a
Rant Re: Quest IT Outsourcing

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Originally Posted by Anonymous View Post
Whoever said GE would be the winning bidder is mistaken. Wipro and Cognizant are the companies being looked at for IT Infrastructure org, and I have to believe the announcement is coming soon.
lol - I don't think the previous post meant that GE would be bidding on a low-ball contract to sit warm bodies in the recently vacated seats of former employees. Rather the way I read that post was they thought GE would be bidding to buy some or all of Quest Diagnostics (assets / business units / labs / etc...) once the balance sheet looks temporarily better due to the outsourcing. It would be quite the shit if Philips Healthcare were to be buying up pieces of the company after our Dear Leader finishes dismantling all possible long term prospects. (Unless perhaps you think all this outsourcing crap is really to build a stronger company for the long term? ha ha ha)
As for Cognizant vs Wipro - do you really think Cognizant can even come close to the pricing that Wipro would be able to do? IMHO the only reason Cognizant would even have been floated would have been for the pretense of competition to encourage Wipro to be aggressive in their pricing.
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  #53  
Old 07-20-2013, 03:01 PM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

It is just a matter of time before all of IT is outsourced. Upper management in IT just returned from a trip to the far east. IT employees should start to look for other employment opportunities. The only IT employees to keep their jobs will be the upper management level. They will get rich on this new initiative. Then the company will be bought.
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  #54  
Old 07-20-2013, 09:33 PM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

Quote:
Originally Posted by Anonymous View Post
lol - I don't think the previous post meant that GE would be bidding on a low-ball contract to sit warm bodies in the recently vacated seats of former employees. Rather the way I read that post was they thought GE would be bidding to buy some or all of Quest Diagnostics (assets / business units / labs / etc...) once the balance sheet looks temporarily better due to the outsourcing. It would be quite the shit if Philips Healthcare were to be buying up pieces of the company after our Dear Leader finishes dismantling all possible long term prospects. (Unless perhaps you think all this outsourcing crap is really to build a stronger company for the long term? ha ha ha)
As for Cognizant vs Wipro - do you really think Cognizant can even come close to the pricing that Wipro would be able to do? IMHO the only reason Cognizant would even have been floated would have been for the pretense of competition to encourage Wipro to be aggressive in their pricing.
Yep that is what I meant by GE being a buyer it makes sense good ole Phillips health buy up whats left of dismantled quest diagnostics.
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  #55  
Old 07-22-2013, 01:55 PM
Anonymous
 
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Default Re: Quest IT Outsourcing

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Originally Posted by Anonymous View Post
... IMHO the only reason Cognizant would even have been floated would have been for the pretense of competition to encourage Wipro to be aggressive in their pricing.
If its down to Cognizant and Wipro (thats what many are saying), they are the finalists - it was bid it out to all the usual suspects, and supposedly narrowed it down to those two. By the time you get tot this point, the pricing differences for all these guys are usually minimal; the decision is made on their specific technical strengths, and comfort level between the senior executives. Having HQ up the block in NJ actually gives Cognizant some advantage, but something like having a bigger footprint in the Phillipines (lately preferable to India) might help Wipro.
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  #56  
Old 07-22-2013, 11:23 PM
Anonymous
 
Posts: n/a
Rant Re: Quest IT Outsourcing

Quote:
Originally Posted by Anonymous View Post
... the pricing differences for all these guys are usually minimal; the decision is made on their specific technical strengths, and comfort level between the senior executives. Having HQ up the block in NJ actually gives Cognizant some advantage ...
lol. It is price all the way. Or are you seriously buying into the kool-aid where the SLT is appearing to say that a bunch of newly hired fresh out of college kids are going to be doing a higher quality job than 10~30 year IT veterans? If it was really that easy - then the various IT positions over the years would have gotten filled a whole lot quicker. Bottom line - it is always easy to denigrate somebody else's job and say it is so easy that anybody could do it. But say it as much as you want and it still doesn't make it reality.

I will shit a brick if the contract does not go to Wipro.
This is all about short term making the books look better. Nothing to do with long term.
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  #57  
Old 07-23-2013, 09:36 AM
Anonymous
 
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Default Re: Quest IT Outsourcing

Quote:
Originally Posted by Anonymous View Post
lol. It is price all the way. Or are you seriously buying into the kool-aid where the SLT is appearing to say that a bunch of newly hired fresh out of college kids are going to be doing a higher quality job than 10~30 year IT veterans? If it was really that easy - then the various IT positions over the years would have gotten filled a whole lot quicker. Bottom line - it is always easy to denigrate somebody else's job and say it is so easy that anybody could do it. But say it as much as you want and it still doesn't make it reality.

I will shit a brick if the contract does not go to Wipro.
This is all about short term making the books look better. Nothing to do with long term.
The price between Wipro and Cognizant will be virtually identical. Fact. Price will not be the deciding factor between those two. Wipro likely has the edge, but not on price.

You can continue believing that it takes 30 years of experience to bang out code, but its ridiculous. You need a small number of architects and designers, and maybe you want them to be your 30-year Americans for whatever reason, but the kids overseas can bang out code faster, cheaper and better. If you ever visited these places and saw the training, facilities, tools, and supervison they are getting, you would understand better. Its far superior to anthing DGX has or could have at its scale. All the best run companies in the world (which Quest is not) are over there for a reason. But ignorance is bliss.
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  #58  
Old 07-23-2013, 09:59 PM
Anonymous
 
Posts: n/a
Argue Re: Quest IT Outsourcing

Circuits have been ordered between quest and wipro data centers...so that would answer any question.
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  #59  
Old 07-23-2013, 10:31 PM
Anonymous
 
Posts: n/a
Rant Re: Quest IT Outsourcing

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Originally Posted by Anonymous View Post
<clip> You need a small number of architects and designers <clip> the kids overseas can bang out code faster, cheaper and better <clip> All the best run companies in the world (which Quest is not) are over there for a reason <clip>.
Keep drinking the kool-aid. You clearly have no experience with the actual Quest systems. The current app teams are not banging out code regardless of whatever you seem to think. This strategy is 5 years behind the times. It is a long term path to failure. But that is ok - you are obviously not one of the technical IT staff so this outsourcing has no impact on you. Other than destroying the company of course but that is just a minor point that will not come to pass for another 9 months.
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  #60  
Old 07-23-2013, 10:34 PM
Anonymous
 
Posts: n/a
Rant Re: Quest IT Outsourcing

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Originally Posted by Anonymous View Post
Circuits have been ordered between quest and wipro data centers...so that would answer any question.
Yeah - regardless of what the IT SLT would have you believe this was decided months ago. This was just confirmation and working out the details. We should have the contract announced shortly (next week perhaps?) and find out the number impacted by this one. Don't expect this to be the last contract.
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  #61  
Old 07-23-2013, 10:39 PM
Anonymous
 
Posts: n/a
Jester Re: Quest IT Outsourcing

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Originally Posted by Anonymous View Post
It is just a matter of time before all of IT is outsourced. Upper management in IT just returned from a trip to the far east. IT employees should start to look for other employment opportunities. The only IT employees to keep their jobs will be the upper management level. They will get rich on this new initiative. Then the company will be bought.
Yeah - you called it. Anybody have (real) feedback on the actual knowledge transfer going on between the application teams and TCS? We should be starting to get some concrete feedback on how good the TCS whiz kids are picking up these systems.
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  #62  
Old 07-24-2013, 03:38 PM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

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Originally Posted by Anonymous View Post
Keep drinking the kool-aid. You clearly have no experience with the actual Quest systems. The current app teams are not banging out code regardless of whatever you seem to think. This strategy is 5 years behind the times. It is a long term path to failure. But that is ok - you are obviously not one of the technical IT staff so this outsourcing has no impact on you. Other than destroying the company of course but that is just a minor point that will not come to pass for another 9 months.
I saw the writing on the wall and left a long time ago. Anyone in IT who hasnt been interviewing for at least the past 6 months has only themselves to blame when the ax falls.
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  #63  
Old 07-24-2013, 03:56 PM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

Back in June (post 29) I said as an outsider looking in, it looked to me that this company was looking to get bought. All the signs were there: New leadership at the top; drastic cuts by layoffs, closures, hiring freezes; and outsourcing All to make it look leaner and more attractive to a buyer.

Looks like I am a genius
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  #64  
Old 07-24-2013, 03:56 PM
Anonymous
 
Posts: n/a
Arms Re: Quest IT Outsourcing

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Originally Posted by Anonymous View Post
I saw the writing on the wall and left a long time ago. Anyone in IT who hasn't been interviewing for at least the past 6 months has only themselves to blame when the ax falls.
I disagree a little with your method since waiting for the axe to fall will be paying me my earned severance package. Anybody who thinks they won't give us one should not only talk to a lawyer, but also see how much they charge per hour. The ex-employee lawsuits would make the severance payout to ~1500 people look like chump change.

So as I see it, you got to leave and post on a site how you didn't wait and we're losing out by sticking around. I get to wait, get paid in the meantime, get my severance, and then post that I found a better job while getting double paychecks for 6 months.

Who's losing out now?
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  #65  
Old 07-25-2013, 08:19 AM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

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Originally Posted by Anonymous View Post
I disagree a little with your method since waiting for the axe to fall will be paying me my earned severance package. Anybody who thinks they won't give us one should not only talk to a lawyer, but also see how much they charge per hour. The ex-employee lawsuits would make the severance payout to ~1500 people look like chump change.

So as I see it, you got to leave and post on a site how you didn't wait and we're losing out by sticking around. I get to wait, get paid in the meantime, get my severance, and then post that I found a better job while getting double paychecks for 6 months.

Who's losing out now?
Serverance is two weeks pay for each year of service. No decide how long that wil last during your job search... Most people need 6 - 12 months to get an equivalent job. Now factor in the cost in quality of life, plus - in all likelihood - the lower pay you are getting at DGX compare to whatever everyone else pays.
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  #66  
Old 07-25-2013, 08:26 AM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

Quote:
Originally Posted by Anonymous View Post
Back in June (post 29) I said as an outsider looking in, it looked to me that this company was looking to get bought. All the signs were there: New leadership at the top; drastic cuts by layoffs, closures, hiring freezes; and outsourcing All to make it look leaner and more attractive to a buyer.

Looks like I am a genius
Selling is always an option, but they need to make these cuts either way. They cannot survive the lower reimbursements and volume lost to hospitals (or invest in - somehow - growing the business) without making the cuts they are making. LH simply runs a much leaner operation and is kicking DGX in the ass on Wall Street. The recently departed CIO at LH is friends with SR and JH from Phillips, so they know from her exactly what the competition is doing and they are trying to copy it. Don't bet against her being hired as soon as they can work out the no-compete stuff.
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  #67  
Old 07-25-2013, 11:44 AM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

And now we're affiliated with the NY Giants---wonder how much that cost us?
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  #68  
Old 07-25-2013, 12:02 PM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

Quote:
Originally Posted by Anonymous View Post
And now we're affiliated with the NY Giants---wonder how much that cost us?
Our jobs!
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  #69  
Old 07-25-2013, 08:08 PM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

Quote:
Originally Posted by Anonymous View Post
Yeah - you called it. Anybody have (real) feedback on the actual knowledge transfer going on between the application teams and TCS? We should be starting to get some concrete feedback on how good the TCS whiz kids are picking up these systems.
I will not transfer my knowledge to them. Right now TCS are engaged with the project managers and we have 30 days for KT after they decided our end date no later than 10/4. TCS will start supporting the apps on 9/23.
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  #70  
Old 07-26-2013, 09:32 PM
Anonymous
 
Posts: n/a
Rant Re: Quest IT Outsourcing

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Originally Posted by Anonymous View Post
I will not transfer my knowledge to them.
At least play the game good enough so it does not look like you are not cooperating. I don't think anybody expects you to bend over backwards or put in 60+ hours per week but at least make a token effort and be sure all your emails (which obviously can be forwarded to anybody including your manager and/or HR) sound cooperative. Otherwise you are putting your compensation package in jeopardy as was clearly verbalized on the previous call. If you only have a couple years of service then I can see it might not be worth your while. But if you are 10+ years like many of the application teams then you probably want to be able to collect on your package.
Bottom line is whether you cooperate or not, TCS is taking over these positions. It is just the new reality. It sucks. It is stupid. Nobody asked us and we have no say in it. Take your package and hopefully you find another job soon.
By the way, has anybody found out yet exactly what is going to be in the document that HR is going to require people to sign before actually getting their compensation package? (As was briefly mentioned on the most recent call.) It will be pretty shady if they don't allow you to review it in advance and possibly have your lawyer review it (depending on how detailed it is and how much legal speak it has).
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  #71  
Old 07-26-2013, 09:34 PM
Anonymous
 
Posts: n/a
Grumble Re: Quest IT Outsourcing

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Originally Posted by Anonymous View Post
And now we're affiliated with the NY Giants---wonder how much that cost us?
Around 3 million per year? Or about 90 IT jobs outsourced. Just one more kick in the pants.
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  #72  
Old 07-27-2013, 12:36 AM
Anonymous
 
Posts: n/a
Rolleyes Re: Quest IT Outsourcing

Quote:
Originally Posted by Anonymous View Post
The recently departed CIO at LH is friends with SR and JH from Phillips, so they know from her exactly what the competition is doing and they are trying to copy it. Don't bet against her being hired as soon as they can work out the no-compete stuff.
Nah couldn't be. We were already told that there is an executive search committee looking high and low for the perfect candidate for CIO at Quest Diagnostics. The internal candidates were not good enough even. They have been looking since when - January was it? Still haven't found anybody. It is so hard to find that perfect of CIOs. So what is the probability that the perfect match would just happen to be somebody (LF) who SR used to work with?
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  #73  
Old 07-30-2013, 07:03 AM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

This group of "management?" has zero clue what they are doing. They are obviously trying to de-value this company to feather their pockets. Maybe someone should find the names and home addresses of the clowns who are planning this. I wonder if a sack or two of mail delivered to their homes expressing displeasure would cause a minor anal cramp.

Honestly..I am beginning to believe these dudes are mentally retarded. They could not cut it in the real world. I would love to see them try to cut it in the REAL work force. They would be wearing a headset asking if you would like to super size your order.
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  #74  
Old 07-30-2013, 08:53 AM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

They know what they are doing. They are doing what they are told to do. They know the aggravation of working with the outsourced Indians in the way of communication and coordination. Some functions are the same everywhere, but Quest has a lot that are specialized to the laboratory.
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  #75  
Old 07-30-2013, 09:10 AM
Anonymous
 
Posts: n/a
Lol Re: Quest IT Outsourcing

Quote:
Originally Posted by Anonymous View Post
Nah couldn't be. We were already told that there is an executive search committee looking high and low for the perfect candidate for CIO at Quest Diagnostics. The internal candidates were not good enough even. They have been looking since when - January was it? Still haven't found anybody. It is so hard to find that perfect of CIOs. So what is the probability that the perfect match would just happen to be somebody (LF) who SR used to work with?
Chuckle
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  #76  
Old 07-30-2013, 08:12 PM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

Quote:
Originally Posted by Anonymous View Post
This group of "management?" has zero clue what they are doing. They are obviously trying to de-value this company to feather their pockets. Maybe someone should find the names and home addresses of the clowns who are planning this. I wonder if a sack or two of mail delivered to their homes expressing displeasure would cause a minor anal cramp.

Honestly..I am beginning to believe these dudes are mentally retarded. They could not cut it in the real world. I would love to see them try to cut it in the REAL work force. They would be wearing a headset asking if you would like to super size your order.
I would be happy to provide the home addresses but I assume that would cause this thread to be removed. So probably no point there.
And hey - no disrespecting the hard working people who provide my breakfast every morning with a smile. I am glad they come to work so I can eat. For real.
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  #77  
Old 07-30-2013, 08:26 PM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

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Originally Posted by Anonymous View Post
They know what they are doing. They are doing what they are told to do. They know the aggravation of working with the outsourced Indians in the way of communication and coordination. Some functions are the same everywhere, but Quest has a lot that are specialized to the laboratory.
You are serious? They (upper management up to and including the CEO) do not have a clue unless it is to deliberately destroy the company which is quite seriously a valid possibility. I am assuming you do not actually work as part of the Quest Diagnostics IT nor are being impacted by the current outsourcing. And by the way - this has nothing to do with Indians as we have many employees who were either born in India or are of Indian descent and they are excellent employees (at least the ones I run into and work with). This has nothing to do with what country of origin somebody happens to come from. Rather - this has to do with getting rid of many highly skilled IT EMPLOYEES with a valid wealth of knowledge who have been working at the company for 15+ years and replacing them with CONSULTANTS who know nothing about these specific Quest Diagnostic IT systems and will likely be having turn-over every 18 months or so. This is a whole lot more than only the lab systems. Just thinking all the non-lab systems are trivial and generic simply makes a clear statement that you have no working knowledge of those systems.
It is becoming quite evident that many non-technical people seem to think (for whatever odd reason) that technical people are easily interchanged AS WELL that the current IT systems are trivial and generic in nature.
The employees who currently work on these systems know this is completely false.
The people left over after this is all done will find out.

Good luck to all the IT people in finding new jobs at companies that will appreciate all your hard work, dedication and loyalty.
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  #78  
Old 07-30-2013, 08:34 PM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

Quote:
Originally Posted by Anonymous View Post
I will not transfer my knowledge to them. Right now TCS are engaged with the project managers and we have 30 days for KT after they decided our end date no later than 10/4. TCS will start supporting the apps on 9/23.
Well technically - it is not your responsibility to do any knowledge "transfer". You only have to provide a reasonable presentation of your job duties. Which they (TCS) will of course record. But whether that information actually "transfers" over to TCS is obviously out of your control. Just do a reasonable presentation so it can not be said that you are deliberately obstructing the process. On the other hand it can not be expected for you to be working 80 hours a week and through the night to come up with the perfect presentation with all processes documented. Do what you can and what is reasonable during your normal business working hours during the time that your manager has not already asked you to perform your regular job duties. (Still have to keep the lights on and systems running while you are still an employee.)
What happens after that and whether or not TCS actually picks up the required knowledge is really not something you have to worry about.
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  #79  
Old 08-01-2013, 11:05 AM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

Announcement about Wipro and Cognizant contract signing will be next week.
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  #80  
Old 08-02-2013, 07:50 AM
Anonymous
 
Posts: n/a
Rant Re: Quest IT Outsourcing

Just be a man...step up and do it.
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  #81  
Old 08-02-2013, 09:31 AM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

Quote:
Originally Posted by Anonymous View Post
You are serious? They (upper management up to and including the CEO) do not have a clue unless it is to deliberately destroy the company which is quite seriously a valid possibility. I am assuming you do not actually work as part of the Quest Diagnostics IT nor are being impacted by the current outsourcing. And by the way - this has nothing to do with Indians as we have many employees who were either born in India or are of Indian descent and they are excellent employees (at least the ones I run into and work with). This has nothing to do with what country of origin somebody happens to come from. Rather - this has to do with getting rid of many highly skilled IT EMPLOYEES with a valid wealth of knowledge who have been working at the company for 15+ years and replacing them with CONSULTANTS who know nothing about these specific Quest Diagnostic IT systems and will likely be having turn-over every 18 months or so. This is a whole lot more than only the lab systems. Just thinking all the non-lab systems are trivial and generic simply makes a clear statement that you have no working knowledge of those systems.
It is becoming quite evident that many non-technical people seem to think (for whatever odd reason) that technical people are easily interchanged AS WELL that the current IT systems are trivial and generic in nature.
The employees who currently work on these systems know this is completely false.
The people left over after this is all done will find out.

Good luck to all the IT people in finding new jobs at companies that will appreciate all your hard work, dedication and loyalty.
Totally agree with these comments.

This next round of cuts will be dramatic. Looking at approximately 85% reduction of existing talent within IT Infrastructure. I have serious doubts about how the IT function will be able to move forward at Quest Diagnostics and address the challenges around standardization and regional consolidation without the IT Infrastructure as a functioning partner. All of these business processes operate on highly specialized legacy platforms, unique LIS interfaces, and billing programs written 30+ years ago. Not something anyone offshore has the knowledge to effectively support today.

Can an outsourcer provide basic KTLO services? Maybe. Can they effectively support the infrastructure of a $7B highly specialized Healthcare Information company? Can they add any value to patients or shareholders? Time will tell, but I think we all already know the answer to those questions.

As a shareholder, I have already removed all exposure to DGX.
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  #82  
Old 08-02-2013, 10:44 AM
Anonymous
 
Posts: n/a
Banghead Re: Quest IT Outsourcing

Quote:
Originally Posted by Anonymous View Post
Totally agree with these comments.

This next round of cuts will be dramatic. Looking at approximately 85% reduction of existing talent within IT Infrastructure. I have serious doubts about how the IT function will be able to move forward at Quest Diagnostics and address the challenges around standardization and regional consolidation without the IT Infrastructure as a functioning partner.
<SARCASM>
Why would this be difficult? All the infrastructure people do is reset passwords. Anybody can do that.
</SARCASM>
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  #83  
Old 08-02-2013, 11:06 AM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

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Originally Posted by Anonymous View Post
As a shareholder, I have already removed all exposure to DGX.
Have you also asked any mutual fund companies of which you may be invested in to also remove their exposure to Quest? Top five holders (according to public SEC filing as of Mar 31, 2013) account for almost 33% of Quest Diagnostics outstanding stock. Surely they can find something more effective to invest in?

9.31% - Capital World Investors
7.09% - Aberdeen Asset Management PLC
6.42% - Vanguard Group, Inc. (The)
5.57% - FMR, LLC
4.37% - Price (T.Rowe) Associates Inc
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  #84  
Old 08-02-2013, 01:55 PM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

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Originally Posted by Anonymous View Post
Have you also asked any mutual fund companies of which you may be invested in to also remove their exposure to Quest? Top five holders (according to public SEC filing as of Mar 31, 2013) account for almost 33% of Quest Diagnostics outstanding stock. Surely they can find something more effective to invest in?

9.31% - Capital World Investors
7.09% - Aberdeen Asset Management PLC
6.42% - Vanguard Group, Inc. (The)
5.57% - FMR, LLC
4.37% - Price (T.Rowe) Associates Inc
Wow help explain a bit I sold my stock back in Jan this ship is going down so if we have stock in vanguard its at risk?? Time to move the money now
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  #85  
Old 08-02-2013, 02:43 PM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

Quote:
Originally Posted by Anonymous View Post
Wow help explain a bit I sold my stock back in Jan this ship is going down so if we have stock in vanguard its at risk?? Time to move the money now
Not so much that your Vanguard fund is at risk as they are diversified and would not have a particular fund overly invested in one company however Vanguard is one of the major holders of Quest stock. Vanguard has about half a billion dollars invested in Quest. Not peanuts. Due to the size of Vanguard's entire holdings, if Quest tanks then Vanguard would take a hit of course but not major. The fact remains however that if Vanguard had that half billion in a different company that was able to track the S&P 500 over the past 14 months, then instead of Vanguard loosing almost a million dollars on their investment, they would have made a bit more than a hundred million dollars. So effectively, their choice to remain invested in Quest during the tenure of the new leader has cost the Vanguard investors a hundred million dollars.
So my question would be, Why do the Vanguard money managers think it is a good idea to remain invested in Quest and have Quest continue in the direction it has been going for the past 14 months?
Vanguard could actually ask the Quest board of directors questions and demand answers. There is a pretty strong chance that Vanguard has substantial influence on the board and may even be directly responsible for some of the current board seats. So actually one could hold Vanguard accountable for what is going on as well?
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  #86  
Old 08-04-2013, 11:21 AM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

The next shoe is to fall this week. Infrastructure will annouce their outsourcing plans.

Soon IT will all be outsourced to India.
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  #87  
Old 08-04-2013, 04:01 PM
Anonymous
 
Posts: n/a
Default Re: Quest IT Outsourcing

Quote:
Originally Posted by Anonymous View Post
Not so much that your Vanguard fund is at risk as they are diversified and would not have a particular fund overly invested in one company however Vanguard is one of the major holders of Quest stock. Vanguard has about half a billion dollars invested in Quest. Not peanuts. Due to the size of Vanguard's entire holdings, if Quest tanks then Vanguard would take a hit of course but not major. The fact remains however that if Vanguard had that half billion in a different company that was able to track the S&P 500 over the past 14 months, then instead of Vanguard loosing almost a million dollars on their investment, they would have made a bit more than a hundred million dollars. So effectively, their choice to remain invested in Quest during the tenure of the new leader has cost the Vanguard investors a hundred million dollars.
So my question would be, Why do the Vanguard money managers think it is a good idea to remain invested in Quest and have Quest continue in the direction it has been going for the past 14 months?
Vanguard could actually ask the Quest board of directors questions and demand answers. There is a pretty strong chance that Vanguard has substantial influence on the board and may even be directly responsible for some of the current board seats. So actually one could hold Vanguard accountable for what is going on as well?
THis is pure genius-you must be highly skilled; yes hold Vanguard accountable. Quest investment of half billion is like peanuts for Vanguard, since it has $2 trillion under its control. it does not take much to see Quest stock is circling like crap, going down the toilet. Just Flush hard.
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  #88  
Old 08-04-2013, 05:50 PM
Anonymous
 
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Default Re: Quest IT Outsourcing

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Not so much that your Vanguard fund is at risk as they are diversified and would not have a particular fund overly invested in one company however Vanguard is one of the major holders of Quest stock. Vanguard has about half a billion dollars invested in Quest. Not peanuts. Due to the size of Vanguard's entire holdings, if Quest tanks then Vanguard would take a hit of course but not major. The fact remains however that if Vanguard had that half billion in a different company that was able to track the S&P 500 over the past 14 months, then instead of Vanguard loosing almost a million dollars on their investment, they would have made a bit more than a hundred million dollars. So effectively, their choice to remain invested in Quest during the tenure of the new leader has cost the Vanguard investors a hundred million dollars.
So my question would be, Why do the Vanguard money managers think it is a good idea to remain invested in Quest and have Quest continue in the direction it has been going for the past 14 months?
Vanguard could actually ask the Quest board of directors questions and demand answers. There is a pretty strong chance that Vanguard has substantial influence on the board and may even be directly responsible for some of the current board seats. So actually one could hold Vanguard accountable for what is going on as well?
Thank you, of course your knowledge and the fact you know what is going on makes you unfit for quest duty. This once great company has become nothing more then a pile of shit and its only going to get worse. We used to be able to sell our robust IT capabilities and all we have done is jump ship with services and support and have customers call an 800# that puts them on hold for 30min and then do their best to bridge the gap in language
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  #89  
Old 08-04-2013, 06:22 PM
Anonymous
 
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Worried Re: Quest IT Outsourcing

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Thank you, of course your knowledge and the fact you know what is going on makes you unfit for quest duty. This once great company has become nothing more then a pile of shit and its only going to get worse. We used to be able to sell our robust IT capabilities and all we have done is jump ship with services and support and have customers call an 800# that puts them on hold for 30min and then do their best to bridge the gap in language
So sad but so true.
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  #90  
Old 08-05-2013, 11:05 AM
Anonymous
 
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Lol Re: Quest IT Outsourcing

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The next shoe is to fall this week. Infrastructure will annouce their outsourcing plans.

Soon IT will all be outsourced to India.
When???
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  #91  
Old 08-05-2013, 11:09 AM
Anonymous
 
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Default Re: Quest IT Outsourcing

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When???
Dog and pony show scheduled for this Thursday.
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  #92  
Old 08-05-2013, 01:59 PM
Anonymous
 
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Yawn Re: Quest IT Outsourcing

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THis is pure genius-you must be highly skilled; yes hold Vanguard accountable. Quest investment of half billion is like peanuts for Vanguard, since it has $2 trillion under its control. it does not take much to see Quest stock is circling like crap, going down the toilet. Just Flush hard.
Quoting from Wikipedia:
"In a publicly held company, directors are elected to represent and are legally obligated to represent the interests of the owners of the company—the shareholders/stockholders."

The major stockholders of Quest are clearly consolidated in a handful of large institutions. It is these institutions which have the legal authority and obligation (to their shareholders) to ensure that they are getting their interests looked after.

(Although perhaps I misunderstood whatever point you were trying to make?)
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  #93  
Old 08-05-2013, 04:24 PM
Anonymous
 
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Default Re: Quest IT Outsourcing

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Quoting from Wikipedia:
"In a publicly held company, directors are elected to represent and are legally obligated to represent the interests of the owners of the company—the shareholders/stockholders."

The major stockholders of Quest are clearly consolidated in a handful of large institutions. It is these institutions which have the legal authority and obligation (to their shareholders) to ensure that they are getting their interests looked after.

(Although perhaps I misunderstood whatever point you were trying to make?)
Wow... quoting Wikipedia. Anyone, how does a Director's fiduciary obligation have anything to do with a shareholder's obligations? Shareholders, no matter how big, have no obligations to anyone but themselves.
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  #94  
Old 08-05-2013, 06:06 PM
Anonymous
 
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Banghead Re: Quest IT Outsourcing

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Wow... quoting Wikipedia. Anyone, how does a Director's fiduciary obligation have anything to do with a shareholder's obligations? Shareholders, no matter how big, have no obligations to anyone but themselves.
Just trying to give some education to fill an obvious void. But that is ok, you can just go on believing whatever makes you feel good.
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  #95  
Old 08-06-2013, 08:39 AM
Anonymous
 
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Default Re: Quest IT Outsourcing

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Just trying to give some education to fill an obvious void. But that is ok, you can just go on believing whatever makes you feel good.
Let's try this again, slowly - you use "directors are elected to represent and are legally obligated to represent the interests of the owners" to explain how fund managers who own DGX shares have an obligation to protect Quest shareholders. Its a non sequitur (go ahead and wiki that).
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  #96  
Old 08-06-2013, 11:54 AM
Anonymous
 
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Arms Re: Quest IT Outsourcing

The outsourcing announcement will probably happen at the end of the month and typical Quest layoff/firing will happen before the holidays sometime in Nov.
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  #97  
Old 08-06-2013, 01:04 PM
Anonymous
 
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Default Re: Quest IT Outsourcing

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The outsourcing announcement will probably happen at the end of the month and typical Quest layoff/firing will happen before the holidays sometime in Nov.
This Thursday is the announcement. They just spent $800,000 so they could stream the bad news to your desk PC.
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  #98  
Old 08-06-2013, 02:28 PM
Anonymous
 
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Default Re: Quest IT Outsourcing

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The rich get richer. Thanks a lot, selfish white people.
Ironic? Maybe that's not th exactly correct use of the word, but there is something interesting in those "selfish white people," getting rich by taking jobs away from relatively rich white Americans and giving them to relatively impoverished Indians....
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  #99  
Old 08-06-2013, 03:05 PM
Anonymous
 
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Default Re: Quest IT Outsourcing

It is no surprise that Quest would outsource. Outsource will probably do a better job with half the people because at least they will have people working. Not like the current Quest IT that is never in the office. working from home if you think. or 200 TOP days a year and only put in 20.
The BYOD so they can answer the phone/emails from the golf course or the mall or wherever else you hide.

You guys did it to yourselves.

Now see if your next job will tolerate the laziness.
Even if they let everyone go at the end of the week , End users would not even notice
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  #100  
Old 08-06-2013, 07:20 PM
Anonymous
 
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Default Re: Quest IT Outsourcing

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Originally Posted by Anonymous View Post
It is no surprise that Quest would outsource. Outsource will probably do a better job with half the people because at least they will have people working. Not like the current Quest IT that is never in the office. working from home if you think. or 200 TOP days a year and only put in 20.
The BYOD so they can answer the phone/emails from the golf course or the mall or wherever else you hide.

You guys did it to yourselves.

Now see if your next job will tolerate the laziness.
Even if they let everyone go at the end of the week , End users would not even notice
Wow where did that come from? Quest has never spent the money or time to standardize leaving IT to hold up a 30 year old limping along system if you think things are going to get better once they leave you have lost your mind better learn to fix your own problems real soon or hope you get someone to help you
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