I still think that Newco has better growth potential than do some of the posters. Granted, they won't be operating in growth markets, but you can grow a company by taking market share in a flat domestic market or you can expand your share internationally. I understand that management feels there's a lot of potential internationally. Also, the new company will be more innovative once unshackled from mother Abbott's bureaucracy. I guess the question remains, as it did last week, will people in Newco be taken care of, or will there be some good hard screwings regarding pensions and people who are 49 1/2 and have 19 1/2 years of service, like the one poster last week. It's hard to believe a company with a reputation for being a good employer would shaft people, hurting morale. Time will tell.
This spinoff will probably work for both companies. It looks like it will be a good move.
For the last time. When the spinoff happens, you will keep the same number of ABT shares and be issued new shares in Newco. But the price of the Abbott shares will drop by the value of the Newco shares, so your account will be worth the same amount at the end of the day, all things being equal.
Hope everybody is having a good week.
You once posted that a liberal could never teach you anything. With more than 100,000,000 liberals in the U.S. and none of them with knowledge that would bnefit you. Isn't that amazing? That is a recipe of a closed mind. It is as if you have put your mind in one of Al Gore's lockboxes then submerged it in hot wax and hung it out to dry. That is really sad.
I am 100% with you. I can smell the smell of another one-time charge coming against next quarter's earnings. MTG would love it, he was so RIGHT and we ALL miss him a lot fer it fer sherr!
I can hear him LOL from coast to coast ... and we need to get used to those ONE-TIME charges.
I like that. Staying open minded with a cynical edge. If I was you, I would modify that just a bit to be open minded with a skeptical edge, or open minded with a nervous edge. It strikes me as unfathomable that this company that has been such a consistently good place to work will shaft its employees. I have no inside information. I just don't believe they will.
From what I'm hearing, your husband will probably be double dipping. Working for Newco and collecting his pension from Abbott. Just make sure you invest the pension wisely during these years when he is still working.
I'm getting nervous. A lot of optimistic predictions on the board. Spec and Plute are spewing the "$50 by EOY." We will see $35 before we see $50. The Uprima situation is a reason why companies can't get a drug approved and then charge 50 cents for it. I'm sure there's been hundreds of millions spent on researching, doing the necessary filing etc. on Uprima. The successful drugs that make it to market have to generate the revenue to pay for the unsuccessful. I know people that use these drugs don't want to hear that. But where else is the money going to come from?
Phys. I'm not close minded. Example: I was listening to a right wing radio talk show the other day and a liberal called. I listened to that buffoon for at least 8 or 9 seconds before turning off the volume.
Hope all are having a good weekend. Let's celebrate Labor Day and hope that all laborers for ABT and NWCO are happy, content, placated, enthusiastic and prosperous within the next few weeks.
In this economy, be glad you have a job, is not a bad thing to be saying!
Heck, I am glad my son chose to be a network admins. rather than an IT person or programmer. Those people are losing jobs to India. AT least we know that networks are here in a company, and can not be serviced from a distance.
Yet, my daughter who went and graduated college is working as a front desk person at a hotel, making 8+ an hour. Her former job, working at Roots, is now gone. They closed.
So, yes, I am glad she has a job.
I am not happy about my husband's situation at ABT, but he will have a job in 2005.
I am not sure anyone can say that about other companies. Not in the current situation of our country and its multi corps.
I don't know about Austin, but I agree with Tal. Abt Critical Care in SLC, has been a great company to work for.
We have gotten a lot of benefits from this company. The group my husband works for has never laid off anyone. They have fired people, and those guys (some women) deserved what they got. Sure there have been problems, silly management stuff, and other annoying things that happen in daily life, but basically the tool and die,dept has been a very good shop.
I hope that the newco will be as good, and that in 4 or 5 yrs at retirement we will be either retired formally from ABT, or with good standing in Newco.
My husband does not intend to quit his job.
I am more concerned than he is, because ABt has never screwed it's employees. The way corporations are now, who knows.?
I hope to stay open-minded, but with a cynical edge.
My opinion is it is a way for Abbott to get cash for and asset that is undervalued on its balance sheet. The cash can be used debt reduction and paying fine. IMHO, will be minimal tax consequent.
Initial, will not be huge for shareholders. If exchange is 1 for 10 and Abbott is @$40.00. That makes the new company $4.00 or 10% of your holdings. I do believe, that Newco will perform better then Abbott, and would not be supprised to see employees moving Abbott shares in to Newco. JMHO, is easier for $4 stock to double then a $40 stock.
Good luck longs!
"The schools exist primarily for the Administrators of the School District and Teacher's Union." This statement is false. How would you know as you have never belonged to a Teacher's Union. "If the kids happen to learn anything along the way,that's secondary in importance." This statment is false. It is of utmost importance. The public school system is broken. Is that why we have the highest standard of living in the world? Poor Lib and here I thought after his time off from the board he was gaining, "Understanding."
You left out an important part of his speech about why the fine was paid. You basically have to settle, if you challenge it you, the company, and it sounded like the customer also, are banned from receiving medicare payments while it goes thru the court system, which can take years. That means you lose customers who won't deal with you as they go somewhere else so they continue to get reimbursement. Used to be direct providers only but the rules have been changed to include indirect providers also. And I believe he said about buying newco stock, that he would be buying it once he is legally allowed. I don't know if you call that pumping a stock, but I know others who also will be buying more of it after it is issued. If you have read some of the posts here on the board, in the past spinoff companies have generally done very well after the spinnoff.