Enron....Wooops I Mean VRX!

Discussion in 'Valeant Pharmaceuticals' started by Anonymous, Nov 17, 2014 at 5:51 PM.

Tags: Add Tags
  1. Anonymous

    Anonymous Guest

    Here we go, fasten your seat belts cos we're rolling outa this shithole!!
     

  2. Anonymous

    Anonymous Guest

    not likely. you clerly don't know much about what happened in that case
     
  3. Anonymous

    Anonymous Guest

    Actavis will be flushing a lot of you turds soon.
     
  4. Anonymous

    Anonymous Guest

    Now that this is over, Valeant can stop with the acquisition nonsense and get back to running a pharma company.






    LOL. I can never keep a straight face when I say that.
     
  5. Anonymous

    Anonymous Guest

    Hahaha...lol

    Best joke of the day... Valeant is a PHARMA company!
    It's many things but pharma it ain't
    Now let's see this joke of a company collapse
     
  6. Anonymous

    Anonymous Guest

    Is it a Enron type collapse or is it a Tyco style collapse... not sure which Ponzi scheme better describes VRX at this moment in time?
     
  7. Anonymous

    Anonymous Guest

    On Seeking Alpha, I just noticed that all articles about VRX seem to emanate from Laurie Little's press releases to PR Newswire. There is one on the renovated US headquarters in New Jersey, one on how Pearson is saying $219 per share for Allergan cannot be justified to Valeant shareholders, and one on a new, approved saline-filled breast implant. Why doesn't anyone elsebother to cover VRX, their management and their products, other than trusty VRX Spokeswoman Laurie Little? It's not fair.

    Signed,

    Puzzled
     
  8. Anonymous

    Anonymous Guest

    Would the " whistleblowers please stand up"
     
  9. Anonymous

    Anonymous Guest

    Again as stated before, we woud rather see this company stop the acquisition game to assess if it is capable of operating a stable business with the assets it has currently in place. Its too easy to fool some with all this top line revenue growth stuff... give us some consistent quarter over quarter organic net profit results. Better yet lets see VRX put the dividend back in the game and see where their spine is located. In all this M&A madness the concepts pertaining to sustainable growth and laws of dimishing returns need to be considered and assesssed.
     
  10. Anonymous

    Anonymous Guest

    Enron’s Corporate Culture = Valeants Corporate culture
    AT VALEANT WE ARE TOLD more or less the SAME... " know your
    Numbers = make your Numbers!

    Enron has been described as having a culture of arrogance that led people to believe that they could handle increasingly greater risk without encountering any danger. According to Sherron Watkins, “Enron’s unspoken message was, ‘Make the numbers, make the numbers, make the numbers—if you steal, if you cheat, just don’t get caught. If you do, beg for a second chance, and you’ll get one.’” Enron’s corporate culture did little to promote the values of respect and integrity. These values were undermined through the company’s emphasis on decentralization, its employee performance appraisals, and its compensation program.
    ​Each Enron division and business unit was kept separate from the others, and as a result very few people in the organization had a “big picture” perspective of the company’s operations. Accompanying this emphasis on decentralization were insufficient operational and financial controls as well as “a distracted, hands-off chairman, a compliant board of directors, and an impotent staff of accountants, auditors, and lawyers.”
    ​Jeff Skilling implemented a very rigorous and threatening performance evaluation process for all Enron employees. Known as “rank and yank,” the annual process utilized peer evaluations, and each of the company’s divisions was arbitrarily forced to fire the lowest ranking one-fifth of its employees. Employees frequently ranked their peers lower in order to enhance their own positions in the company.
    ​Enron’s compensation plan “seemed oriented toward enriching executives rather than generating profits for shareholders” and encouraged people to break rules and inflate the value of contracts even though no actual cash was generated. Enron’s bonus program encouraged the use of non-standard accounting practices and the inflated valuation of deals on the company’s books. Indeed, deal inflation became widespread within the company as partnerships were created solely to hide losses and avoid the consequences of owning up to problems.

    Complicity of the Investment Banking Community
    According to investigative reporters McLean and Elkind, “One of the most sordid aspects of the Enron scandal is the complicity of so many highly regarded Wall Street firms” in enabling Enron’s fraud as well as being partners to it. Included among these firms were J.P. Morgan, Citigroup, and Merrill Lynch. This complicity occurred through the use of prepays, which were basically loans that Enron booked as operating cash flow. Enron secured new prepays to pay off existing ones and to support rapidly expanding investments in new businesses.
    ​One of the related party transactions created by Andrew Fastow, known as LJM2, used a tactic whereby it would take “an asset off Enron’s hands—usually a poor performing asset, usually at the end of a quarter—and then sell it back to the company at a profit once the quarter was over and the ‘earnings’ had been booked.” Such transactions were basically smoke and mirrors, reflecting a relationship between LJM2 and the banks wherein “Enron could practically pluck earnings out of thin air.”
     
  11. Anonymous

    Anonymous Guest

    Sounds like here
     
  12. Anonymous

    Anonymous Guest

    they would have if there was anything to expose.
     
  13. Anonymous

    Anonymous Guest

    There is! It will all come out in the wash
     
  14. Anonymous

    Anonymous Guest

    Watching the movie there are many similarities. It's eery
     
  15. Anonymous

    Anonymous Guest

    Enron sold vaporware . Valeant sells tangible product. There is no comparison
     
  16. Anonymous

    Anonymous Guest

    Keep telling that to yourself dumbass.... Ever heard of Tyco? Same as!!
     
  17. Anonymous

    Anonymous Guest

    You've been drinking the Allergan Kool-Aide. Tyco's CEO was convicted of stealing millions (>$150M). This has nothing to do with Valeant.
     
  18. Anonymous

    Anonymous Guest

    Really! Let's see
     
  19. Anonymous

    Anonymous Guest

    MP will leave before they stop acquiring companies. Like now! He knows it will fall apart unless they keep hiding the real numbers through acquisitions. It's just a matter of time. Anyone that works at Valeant knows that the sales numbers of the current products they own are dropping quickly.
     
  20. Anonymous

    Anonymous Guest

    Getting near the movie end..... And it's not a pretty picture