Before you left CMK, did you find out much about how CVS operates? I'm interested in comparisons such as work flow, technology, convenience, etc.
Let's start with technology. Are their stores connected nationwide, like Walgreens? Have they incorporated imaging and dynamic workload balancing? Or are they like they rest of the competition with out-dated computer systems, paper-faxing MDs and calling their own stores for transfers? I'm trying to get a sense of how they'll compete, when they move out west.
Ump, Ignore the multi-ID self-starring moron. I thought it was a very informative, useful exchange.
<but you are getting weary saying that everything is AOK, and management does everything right.>
I have, at times, been critical. We did a piss poor job of countering WalMarts PR, and the prior quarter was nothing but a disgrace! But senior management did take ownership and took immediate steps to turn things around, which was evident last quarter. I give them credit for that. Recruiting and training is a disaster in some districts. And I have many more store-level, district level complaints.
I agree that the last 7 years have been pathetic, but the same can be said of the S&P500. I think we agree that WAG's performance over the last 7 years is irrelevant when deciding where to put your money now. We disagree on strategy. You want balance sheet leverage to increase ROE, a big diversity play aquisition, much larger increase in dividend yada yada yada. I think the best place to deploy the majority of resources NOW is continued expansion to goble up market share.
I think we've bored the board so perhaps we should end this thread. I'll give you the final word. Thanks for playing.
You keep reiterating by your comments that they used to have a great strategy. I agree. I made a lot of money in the 90's. We are in 2008. I simply do not live in that past.
So you may not like my lack of specificity, but you are getting weary saying that everything is AOK, and management does everything right.