Change of Guard

Any update?

 

Old guard is still in place scrambling to save their butts. Specialties to be cut, labs to be closed, cuts to be made.

 

First cut should have been the top management team and replacement by people who can raise the value of the company instead.

 

There have been many rumors concerning the Union, NJ lab being closed.
Any truth to this?

 

Keep hearing same about Boston, and Union. Maybe.

 

Why would they spend money on the new site in Boston just to shut it down. Doesn't make any sense,

 

Miraca spent the $$ on Boston, probably not anticipating the fire sale they were looking at due to the inept SVP's in place. Too bad labs are on the block...get rid of the SVP's (Zaves, Norkett, Lash) that drove the business into the ground and hire competent leaders then no lab needs to be on the block.

 

I wonder why all the people in the senior management are still there. Esp when a billion dollar investment ends into 13 million.

 

Give it time. They need to find the right people.

 

And put a closure on the pending mess before moving on with new management.

 

The SVP's in place now are the same ones that drove the business into the ground. Vista knew that when performing their due diligence and should of had an Executive team in the wings ready to bring in sooner vs. later. All of the SVP's and their favorite VP's need to go then maybe we have a chance. If not, hit the reset button for S.O.S. (same ole s**t)

 

Maybe there is a compulsion to hold on to them for the time being....

 

Tim Norkett is gone. Surprised though. Mess is caused by others. Sales increased over years despite decrease in reimbursements.