ABT should consider moving headquarters to a state like Miss....do you think the FDA would pull this nonsense if ABT were headquartered in old Miss?
If the reports I read are correct ....that ABT has spent a small fortune,including hiring former FDA employees,to satisfy FDA requirements is it possible that there is nothing ABT can do to satisfy the FDA?
If...if the FDA is not nitpicking then the entire ABT mgmt and b.o.d should be forced to resign.
ABT mgmt owes the shareholders the truth ...and let the s**t land where it may.
Not an expert on reg powers, but Clyde Crews (Cato Institute) states that Congress can mandate that it (Congress) must vote on all new regulations before they become law...that it could be done without bogging Congress down.Approval of new regs could be done by a voice vote, and not by roll call, and agency regs could be voted on as a group.
Not sure fesible, but sure worth a hard look. I plan to keep the calls and e-mails going to my congressmen ( and to others not in my state as well...can find a valid Zip code for each state, and use it to send e-mails via Contactingthe Congress, or other web sites...keep some heat on.
Thank you. My apologies. Yes it was Schering as you all know by now, and it was reported early this am on WGN radio Business Report (Chicago). BillyCaprine of menapause valley, chill out man go take a Prosac(sic) before you pop a blood vessel or something.
I think the reaction to Ortho's typo has been a bit severe. Lighten up you guys. We all knew it was Schering Plough. Ortho did too. To call him names over a typo makes the name caller look very, very, very, very, very, very, very, foolish.
Have a nice
< don't know if legislators can intervene with regulators. If they can, they need to. There needs to be a meeting of the minds.>
Its done all the time. The biggest interveners are Kenndy and Feinstein. They are not about to let the lucerative Device/Pharma/Tech companies in their states eliminate jobs because of government regs.
I believe you are absolutely on target with your comments. If management at the plant can't correct the problem, then heads need to roll.
Hopefully, they will get this issue resolved soon. Good luck!
The day care center may get ABT good press and be politically correct but I would prefer a corp that remembers tht its first priority is shareholder value.....and ABT struck out big time with the FDA.....It may be the FDA nitpicking or that mgmt and its army of consultants(many former FDA employees)couldn't solve a long term problem going back to 1999 or earlier.
But the buck stops at mgmt door.
This is what I would like to see mgmt do:
1.disclose as quickly as possible the whole(and truthful)story of the FDA-ABT mess and present ABT's position(is the FDA nitpicking or are there legitimate ,unresolved problems?)
2.Promptly drop all present consultants who were hired to resolve the FDA 1999 decree.
3.remove all mgmt involved with the problem plant.
4.start a search in a state with a powerful and supportive congressional delegation for a site to headquarter the diagnostic division.
the last issue of Value Line(3/8/2002) notes"we're optomistic that the consent decree that has inhibited Abbot's diagnostic business for over a year will be fully resolved by mid year."
ABT was at 56.39 when Value Line wrote their last report.
ABT mgmt has failed.
Right, the day care center, LOL! What a friggin joke!
The day care center that a significant number of parents have removed their kids from already. The day care center where a friend of mine saw a worker shake a kid and pulled her daughter out of there that very day. Of course they had a big waiting list, so enrollment hasn't gone down with the departures, but it is nothing more than a maneuver to garner good press from working woman magazine. It's not run by Abbott, but it's apparently as poorly run as it would be if it were.