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CryoLife Inc. Message Board

  • dlhild@ymail.com dlhild Feb 13, 2010 11:04 PM Flag

    Point #9 - Jimmy Buffet...

    Jimmy Buffet: "...I made enough money to buy Miami, but pissed it away so fast...wasn't meant to last...wasn't meant to last". That summarizes the Medafor story before GS became the CEO.

    When GS took over as CEO, the value of Medafor was $0. No money. No future revenue source that amounted to anything. No FDA approved product. Lots of inbedded debt on the balance sheet that CRY tried to blame on GS, but was in reality caused by earlier management groups.

    GS cut costs, raised money, and figured out how MPH could be sold for a much higher price if FDA appoval was obtained. He turned the company around. Under his leadership sales have exploded, and continue to explode.

    Point: Don't blame the sins of the past on GS and GT. They are a kick as team. Sometimes I hope CRY keeps crying for 4 more years...so Medafor keeps GS and GT around to continue to ramp up sales. Given the Medafor model, everything works great if Medafor can continue to ramp up sales.

 
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