Just Keeps Getting Worse!!!

Anonymous · Jan 14, 2014 at 11:00 AM

Anonymous said: ↑

This poster speaks the sad but real truth. Typical privates equity firms with normal brain functions, unlike Avista & Nordic, aren't interested in sticking around for the long term...ideally they like to make their investment, bring in a mgmt. team to revamp the company, and look for somebody to pay an even higher price than they did for the business after 5 years or less in the owners seat.

Fast forward to 2013.....the private equity boneheads at Avista & Nordic who were blatantly fleeced when they vastly overpaid for CVT from BMS in 2008 are still hanging around with their imbecilic management team(albeit with a few new ineffective changes in their starting lineup). Why, you ask?? Simply because they haven't been able to figure out ways to successfully make CVT more profitable to handle their debt payments. This is why you recently saw them trying to juggle their debt load to find ways to generate more cash and in turn had their debt rating downgraded by Moody's. They can't implement their exit strategy until they figure out a way to somehow make more money.

They have a couple issues to deal with. One of their biggest problems is their products are no longer leading edge. Ostomy has been around since the dawn of time and although very profitable, the competitors are doing a much better job of expanding the business. Skin & wound has become such a commoditized product that has become increasingly difficult to garner attention just by re-packaging the CVT line. Adding lame line extensions such as different sized cleansing foams and a "me-too" foam dressing 5 years too late doesn't help the cause. Not to mention the Medline's of the world are eating CVT's lunch within the category. This leaves the FMS category which at one time was a profit goldmine but has also become commoditized and is suffering dramatic price erosion due to competitive advances despite attempts to differentiate with minor tweaks.

All this leads to the single biggest issue; employee moral. The idiots at private equity installed a puppet regime after running off the remainder of the old CVT mgmt. team. This is equivalent to replacing dumb with dumber and predictably, the internal environment has gone from bad to worse. These new corporate dumbasses installed a whole bunch of monitoring systems to micro-manage every facet of the TM's world. They then ran off a great number of tenured reps and replaced them thinking this would get some fresh blood and mind control capabilities. As within any dictatorship, there is tipping point when enough is enough which leads to eventual revolt. The remaining tenured TM's along with a number of freshly hired new TM's began fleeing from the sinking ship and to date, the revolving door hasn't stopped.

The rest of you reading this who have not yet reached your tipping point and still reside within the walls of that stench-filled, one way dictatorship have a great deal of power. You can choose to stay and continue on with that unending misery & loathing that greets you each and every day when you wake. Or, you can choose to follow the previous poster's advice and leave that poisoned, tainted environment behind and re-launch your professional life within a new company of your choice that values your contribution, supports your daily efforts, trusts your abilities to manage the business and pays you handsomely for your efforts. No more daily Kindergarten phone conferences, no more tracking devices, no more daily/weekly justifying your existence, no more listening to know nothing dipshit corporate yes-men and most importantly, no more toiling for a bunch of soulless, blood-sucking sycophants who would sell their mothers and send them COD just to get out from under the debt deal that is choking them to death.

There is no happy ending ahead for CVT........so take today, join the revolution and go create one for yourself!!!
Click to expand...

BEST post ever....truthful, insightful and refreshing!! Will be departing this stench-hole in 3 weeks for a new job and I have this post to thank for it....the feeling of accepting the new position and knowing this daily misery is over is priceless...come and join me on the other side of life!!!

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