Bullshit

A few pieces of simple wisdom continue to hold true.

Talk is cheap
Actions speak louder than words
The truth will come out in the end
Hindsight is 20/20

Only we can take responsibility for accepting a position with GTx. The responsibility lies with each and every one of us and only us. That being said hindsight is 20/20. There were many ongoing red flags most of us saw and even at times quietly shared among ourselves. For many of us it was sad for our time with GTx to end. Many of us appreciate the time we had there even though it was very short.

Yet the truth always comes out and exposes the BULLSHIT. Having to make personnel cuts is part of business. Especially in the world of startup companies. But how you do it says volumes about what you are really all about. GTx is showing itself for what it really is. Just another startup company at the beginning of its end, and certainly nothing special. Gtx also has its own peculiar way of being FULL OF SHIT!

Total BS / Red Flag #1 “Our pipeline is so good even if 80mg runs into problems there is enough going on we should be okay and keep people at least long enough for 20mg approval if not longer.”

Yeah right, tell that to the people you just let go 2 weeks before Christmas with pitiful insurance and severance package. That line which was repeated often could only come from people that are truly stupid or liars. Maybe both. Don’t get me wrong. We appreciate the severance and are certainly aware that some companies do worse. But by industry standards it’s poor and coming from people that constantly verbalized how they are different and really care about people, we call you on your BULLSHIT! Talk is cheap! Actions speak louder than words!

Total BS / Red Flag #2 “ Even if it doesn’t work out the executive leadership here is all about family, I can’t imagine them not doing their best to take care of us in a fair way if it doesn’t all work out.”

Nothing like being let go 2 weeks before Christmas with little insurance and one of the worst severance packages in the industry, even for a startup. Again BULLSHIT! Actions speak louder than words!

Total BS / Red Flag #3 “This Company is going to be different, we building a unique culture from the start.”

Uniquely full of shit maybe. When you have to talk about culture and being different all the time you definitely are anything but . Just because you say it doesn’t make it so. With the 3 stooges at the VP level all you could possibly get is dysfunctional bureaucratic big pharma BULLSHIT and so much of it they are drowning in it!

Total BS / Red Flag #4 “We have and incredible pipeline sure to have many big winners"

Pipeline? SARMS? 758? If pipeline is so wonderful why hasn’t Merck bought you up yet? Hell GTx is trading at almost penny stock levels. If SARMs were so great it would have been worth it to Merck or other pharma company to buy GTx at the high stock prices much less the rock bottom price they are at now. We will see the full story eventually.

Total BS / Red Flag #5 “The leadership is brilliant and great at what they do.”

Really? In the end talk is cheap. In business it’s results. Results ? Let’s see, no approval. Somebody botched that nicely. Blame it on the FDA if you like but the leadership wasn’t equipped to make it happen. Then they find big pharma flunkies to fill them up with more hot air and massage each others egos with BULLSHIT.

Ultimately you are failing. This most likely will not be the last layoffs. There will be more as they continue their death spiral and eventually sell off what is left. In the end results will be the judge. Round 1 is looking sad. You failed us and you will fail more people before it’s over.
Merry Christmas to you too!

 

Many ditto's and I still work there.

 

I feel really bad for all of you especially two weeks before Christmas. Did all of the Regional
Mangers loose their jobs?

 

Everybody. All sales and training positions have been eliminated.

 

All Regional Sales Managers and Managed Care are gone. Some Medical Affairs and various others. Supposedly a total of 44 let go. A 28% company reduction. The three stooges (big pharma idiots) still there.

 

Then there's more fat to trim.

 

Did you think you were somebody special?! All pharma is like that, they are running a business. You don't get to make those decesions, know your place on the food chain. So next time when you interview someone, remember this experience for if you don't it will come back to haunt you. Now join the ranks and move on!

 

I was hoping for the best for this company as I was interviewing and thought it would have been a cool job. I knew it was iffy, but I am sad to see the FDA reject yet another drug approval.. Sorry to all those that got laid off....

 

Here's some more bullshit: how about having us present business plans, making sure we email in our slides, 2 days BEFORE the layoffs?! Did anyone else wonder what the big hurry was for? It was so the dumbasses who have no clue what they are doing could milk us for as much info as possible before firing us.

 

If there is NO sales force and NO marketing taking place, NO managed care, then why do they need VPs of Sales, Sales and Marketing, Marketing and Managed Care?? Why didn't any of the VPs get fired? Why are there 10 VPs in the first place??

 

They will go next round. This company is starting it's death spiral. If Merck walks away from SARM's they have nothing. They will have at least 2 or 3 more personnel reductions in 2010 and the useless VP's will be among the first to go.

Those of you that were in the first round are the lucky ones. People left have to be miserable. Not only do they know they are on a sinking ship, they now know the severence will absolutely suck. Now they get to suffer in a miserable situation while the first to go move on to much bigger and better things.

 

when this company finally folds...I will jerk off publicly to celebrate

 

LOL, that would be great to see while MH swallows!

 

I will throw a flag on that last one. This was a business decision period. And yes, i am sure that it was a cintingency laid out well in advance. The fact that so many were let go, and the timing of the action do not discount previous positive actions. I thought Hanover was one of the best things about GTx and I still do. If you have an issue with someone who let you go, and you feel that you were, because of previous relationships, owed extra explanation, I suggest you call that person and discuss. If Hanover, Mosteller, etc, had any leeway to save anyone's position I firmly believe that they would have done so. Making a personal attack on a decent guy is not the rright thing to do. If it makes you feel better, than you were probably not a good choice to begin with.

i would go back if asked, and hope that GTx receives positive news for a change.

 

Is Mosteller' s first name Paul...I know him from years back

 

Your toneis disturbing

 

Who has decided to sue? My lawyer says very simple easily won case.

 

keep us informed

 

The last straw will be Merck's decision on Ostarine. DR with inbred ras has no hope at all.

 

Why would you believe the rubbish being pitched by management ?
Mitch and his cronies lack experience and the pharma castaways at the top are only here because they had been tossed from pharma.

Be careful with the next move