independent, they are making all the classic wrong moves. Faced with a sales shortfall, you don't stop all new projects and focus on only headcount and expense reductions. And by waiting until it was too late, they wasted one of their most important growth assets...their higher stock price. That means sizable acquistions are now very problematic. No, B-D is now a take out candidate and the acquirer will get some great product lines and won't need 2/3's of the overhead in Franklin Lakes to run them as product lines. It could be different if they moved aggressively to expand...even sacrificing some short term profitability (provided they clearly communicated their plans to investors), but there's never been a growth mentality at B-D inspite of their successes. IMHO you can still make money (eventually) in this stock, but only thru a take-out.