I agree with you. As I recall the pharm industry fought tooth and nail to resist changes proposed by DC politicians. Yet only ABT gets punished? What a bunch of crap! And the tie in with affermative action? I guess if you have one neuron left in your brain you can only make that connection.
Onlyonpaper: Stop looking for excuses for Abbott. Abbott was fined because their managementsubstantially ignored the concerns of FDA regarding QA over a period of years. It's similar to a motorist ignoring the payemt of a traffic ticket, hoping they will not be bothered anymore. What further disturbs me is that Miles White, who was rewarded with the position of CEO, was involved to a large extent in the QA area. What we need is a new management team, not excuses.
singled out to be "punished." Think about it - $100 MILLION and the company AGREES to it. This is not chump change and no matter how foolish we all might feel the feds are or might be, fines this size are only for the most serious of violations. Finally what does it tell you about how the company is run - that they agree to pay without so much as a protest. Sounds like they got caught red handed to me. This issue has nothing whatsoever with political correctness or the Clintons or anything else that is other than plain gross mismanagement.
I'd be glad to expand my point to address your particular interest (the $100m fine), but why the insult?
The fine was no more and no less than lack of attention by managment in the particular plant in Lake County that was targeted. When corporate officers capitulate to the forces of poltical correctness, they lose focus. Naturally, there are other contributing factors. But my point is that before those other factors are addressed, the corporate culture needs an overhaul.
To stand and fight, or to bend to the left while the Clintons and their ilk permiate the anti-business agends... Miles W. chose the latter,as did Texaco on the bogus black bean counting mess, orchestrated by Jesse Jackson. I dumped my shares of Texaco after due notice to the management, and will do so for ABT if they stay weakkneed.