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CR Bard Inc. Message Board

  • nossahr nossahr Feb 6, 2002 9:04 AM Flag

    TYC CC

    Is it possible that something might be mentioned in the 12:00 CC about the deal??
    Let's hope so.

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    • BET announced that they will be moving all forceps lines in the Mentor, Ohio plant to Reynosa Mexico. This is a large percentage of the facility. It seems that this will only affect the assembly end of manufacture. Mentor also houses a machining and molding division. How long before they move these? Sounds like Bard is making moves to cut cost and streamline operations. Now if they could go in and bust up the good ol' boy network of multi-level managers! Also see signs of multi VP's being replaced by one individual! Did Bard learn Tyco's aggressiveness?

    • one more thought. I was concerned with the earnings and disappointed in the sales. 6% growth seems a little low. The 15% earnings was fine but I'm not sure that it's sustainable without additional measures that have been left undefined.

    • The stock looks fairly valued at 57-58. The dividend is back and that is probably a good thing since no one can seem to figure out what to do with excess cash at Bard. Can or will Bard enact the cost cutting plan that Tyco had put together? I heard from some friends that BPT and IMPRA were joining together but have not seen a public announcement and nor do I quite understand what it means. Hopefully this means some cost efficiency in sales, marketing, administration and R&D. I'm optimistic that it's good news. I'm surprised and a little disappointed that BMD and BUD have not been joined back together or perhaps they have and BET and Davol seem logical. These under 150-175 M divisions are not cost effective! I'm wondering what cost cutting is going on in New Jersey if any? The three ways this stock can move are: acquisition, better bottom line, or new technology. I've been impressed with the debt reduction and buy back of stock, I would rather see this than an increase in the dividend. Bard has always acquired new technology but in the past few years has not seemed to be in the acquisition market. A better bottom line comes from cost efficiency and I know that they've worked on COGS but what about SG&A. And they are still small enough to be acquired but by who? Hopefully they'll jettison these "VP of Special Projects" titles that they have put on people in the past. They have left some valuable people dangling and absorbed unneeded costs. Move these people on either to a new company where they can perform again or a defined job within Bard.

    • I cannot understand the apparent lack of interest on this message board. Is there no one out there who has questions or comments regarding Bard? The stock has performed well after the "no deal" and the first quarter report seemed in line with expectations. Not even an "at a boy". I just don't understand it. 10

    • marlin,

      The point of investing is to make money. Whether a company is a good company or a bad company is dependent on a lot of things. Subjectively, if you, your friends or family are the subject of downsizing, a bad boss, no raises, or any number of other bad job actions, then this could be the result of a small adverse result that was taken against a few by a great company.

      You could not like Tyco because Bard let some people go in order to get the deal to go through. You could not like Tyco because after the deal with Bard was announced Tyco's stock cratered. There is much about Tyco that doesn't need to be repeated here or for my benefit. I read the news often for my holdings and while Tyco isn't the perfect company, it's been a good investment for me.

      I'm sure the same could be said for Bard. Those who do or have worked there have seemed to me to have appeared on this Board and their point of view is quite transparent. Yet I go back to the original point, which is buying and selling stocks is done for the sole reason to make as much money with as little risk as possible. I try to do that with companies that might be good places to work but since those ratings aren't always objective and the listing of such companies is usually pretty short, this isn't one of my screens.

      Best of luck to you.

    • I think that you missed the point of my post. I am not attacking your numbers or your analysis. I am simply responding to your zeal for TYC. Personally, I don't care for the way they do business. If you do, fine. You are certainly entitled to your opinion. I can accept that. Can you accept that in other's eyes a company can grow quickly and make a lot of money yet not be a good company?

      Several people I know at Bard lost their job because of the dance that Bard and Tyco did together. Maybe you think of "good business", but I think of family bread winners forcibly put on the job market in the middle of an economic downturn so that someone else can line his pockets. I have a problem with that.
      You can remain a fan of Tyco as long as you want. You won't be winning me over anytime soon though. Good luck on your mission.


    • Guys, Bard is the same old place it has been since Longfellow got there. They have cut back at corporate but many of the good people were let go and the butt kissers retained. It take good management to recognize potential and so the future bodes poorly for Bard until the Long fellow is replaced. Buy Tyco and forget Bard, they're just a boys club for now.

    • marlin,

      Thanks for your compliment. I don't work at Tyco but I do own some of their shares. Everytime the 'fickle media', as you describe them, takes a shot at Tyco, I've made a lot of money buying shares and then selling them in 6 to 15 months. I've made way more money in TYC in 3 years than BCR in 12, although arguably with somewhat more risk.

      As for numbers not meaning anything about Tyco's future, I beg to differ. I had the good luck to own US Surgical, a real company, before TYC bought them. My wife is in the neurosurgery field and works in several hospitals in our metro area. So the Peter Lynch theory about buying something you know has worked for us. If Tyco splits into 4 companies, which I haven't heard much about recently, I can assure you that the healthcare division of Tyco would be one I would hold. If it bought BCR, my comfort and confidence level in that company for the near term would be high.

      BCR has been lackluster in the sense of underperforming the major averages until TYC came along. Nevertheless, BCR has been positive. Reinvesting dividends over 12 years has made up for much of the underperformance since the reinvested money bought shares of BCR on the cheap. As for its business, some portions of BCR have been very innovative and others have not. Longfield's job isn't to innovate, it is to enable and reward those who do. This is separate from his other job to maximize value for all shareholders, which I have some expectation he will.

      BCR being a small fish in a big pond with some tough competitors means it has to innovate, grow or dress up for sale. Sometimes those aren't mutually exclusive.

      The numbers mean a lot for Tyco and Bard. Which ones do you want to debate?

    • BARD just announced that the deal with TYCO is over.

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