Altus gone?

I got to agree. The old ImpactRx board deserves all the blame. Look at the resume of the new CEO and then look at Altus' resume. They couldn't find a CEO with actual experience building a company? The board wouldn't know talent if it sat on their face and wiggled. When was the last time board members actually spoke to employees to see if Rich was feeding them a load of crap. They were lazy and ignorant and deserved to take a haircut on their investment.

 

There were some brave folks who tried (and some who succeeded) in speaking with the board about Rich, however it all fell on deaf ears. There was nothing more to do except sit back and wait out the enevitible fallout. I hope they see their mistakes and I hope Altus reads these comments and realizes that he had a very big hand in the overall poor performance, however I don't believe this is possible. Can anyone confirm that Altus did a skit on his final day using a bed (brought up on a stage) and flowers in hand (while lying on the bed) to demonstrate how ImpactRx "killed" TargetRx? If so, this is the silliest thing I ever heard especially when the company underperformed and the shareholders lost everything. Also, I heard he gave a presentation recapping all of the wonderful things he accomplished while CEO. Good thing he didn't give a presentation on the failures, the meeting would still be going on right now.

 

I would love to see the work of fiction that must be his resume as he begins his task of finding a new job. I'm sure it outlines his heroic efforts to save ImpactRx, acquire Paragon and finally sell the company. Of course he will leave out the details that just firing Spiers and Everett alone was enough to breathe life back into the company, that the Paragon purchase was a financial debacle and that he sold the company at a substantial loss to the investors but I'm quibbling over details.

I've said it before and will say it again. There is a legion of ex-ImpactRxers out in the pharma space with a significant axe to grind with Rich because of the way he mismanaged the company and mistreated people. His spin driven resume will do him no good. These people will be asked about their experience with Rich and it will be a damning report. He better look for a new industry.

 

I completely agree that Pat Angelastro has got to go. He is useless. How come everyone who works with him expereinces this but the old board and new owners do not see it? He has done nothing to grow the business and plenty to lose money and hurt the overall business.

 

There are strong similarities between what is being said here, and what I have witnessed in upper management at one of your major competitors. Change a few names, and the story sounds the same.

A little competent management could have saved either/both of these companies.

 

As I read all of these sorrowful posts I would believe that what both companies need or needed are and were more hard working employees like those who work there instead of you poor slobs who weep on these boards to your fellow downcast brothers and sisters.

I like the poster who told you to get a life....it is not too late. For every rational post that makes its way here we get another dozen irrational morons so sorry for opening the flood gates for the losers club.

Ready losers....post away.

This comes from a satisfied employee on vacation this week as compared to those who post at work which only represents another sorry state of affairs.

 

You can not be serious. Are you really satisfied with the value of your equity at zero? Are you really satisfied with the old board and management team wasting years of time and huge sums of money to only be where we are today? Are you satisfied with mediocre performance? You are clearly part of the problem. There is nothing irrational about being unsatisfied with the performance and completedly frustrated by people who have left money on the table, especially when they had the information and ignored it. We should be light years ahead of where we are today.

 

Amen to that! I never knew there were such sharp ones left. Reality check...it is never about hard work alone. It is about achieving the goal. I'll take the one who works less hard and hits the mark every time. This is why this company and this country is so screwed up...pathetic mentality. Do you really believe what you speak and write? Now since you revealed that you are on vacation we figured out who you are...you just signed your own death certificate.

 

And you my friend are a stupid asshole.

 

Now now, enough bickering. Let's have honest dialogue, help us understand 3 achievements Altus has had in his tenure as CEO? We just want a balanced argument.

 

And you my friend are a stupid asshole

 

My point exactly. Thanks for making this debate so easy. Now its time for you to go away since you have nothing meaningful to contribute to this dialogue other than your child like comments. Its obvious the only "stupid" person commenting here is YOU.

 

I have one:

He convinced the board (not too difficult) to loan him another 1.2M so he can innovate. Then he took the majority of that money to upgrade the physician phones from Treo's to iPhones. No change in the collection, no enhanced products, no innovation. Just one platform for another (and a huge capex bill).

 

I have one.... He probably fired you!

 

Oh. Clever Rich. Now hurry back to the deep fryer before you burn the chicken nuggets.

 

Paragon was a great example of a foolish move. Why in the world would you buy a company that took seventeen years to get to 3 million that has no "value add" to the current portfolio and then blow it up over personal ego in the name of corporate culture? Guess what?Technology and remote work environments are part of the understanding of hiring and retaining great employees. Only those who do not have the discipline nor experience are against them. (ie. corporate pharma and big accounting firm zombies - Angelastro and Altus) Altus just wanted to "claim he lead an acquisition" on his resume. Altus was advised to save the money because all the real due diligence and expertise of some former key players pointed towards the acquisition and told him that is was going to be flop. Again, years later that is exactly what happened. No executive decision making ability. How can anyone defend him with such a long list of concrete evidence? Altus disciples need to follow him out the door, please leave, you don't belong on the vendor side. And by the way, "stupid asshole" has Angelastro written all over it.

 

Funny one!

 

Did you see this from the corporate culture thread?

""The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants"...Thomas Jefferson. The culture is horrible and it is the direct result of its leadership. Change the leadership, change the culture. Get rid of the remaining Altus "ass kissers" and bring in new blood. We need people who will lead by example, not cheap back stabbing talk."

as an outsider looking in (not a current nor former employee), there is way too much smoke on this site for there not to be a serious fire at ImpactRx. It's actually not smoke, there are critical flaws in the operating principles and people. The new CEO has one hell of a challenge on his hands. Good luck to you, you are the right man to accomplish the task!

 

It's nothing that can't be fixed by cleaning out some corner offices.

 

You guys are clueless. If you worked here you would know half the crap on this thread is utter nonsense. And the other half are the disgruntled. Things need to get improved but a lot of us like it here and think your posts are worthless. Put that smoke in your pipe.