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Abbott Laboratories Message Board

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  • econvalue7 econvalue7 Mar 8, 2000 10:37 PM Flag

    meeting with miles

    Thanks for the offer. I have four for
    him:

    1. How has the torpedoed ALZA takeover affected his
    R&D strategy and plans for its future prototype -
    does he plan to incrementally modify the prototype
    that his predecessor had in place in the
    Pharmaceutical Division? (I liked the Barron's article and his
    emphasis on compounds that will evolve into drugs with a
    $300M-$500M revenue stream - avoiding the corresponding risks
    in pursuing "blockbusters".)

    2. Can he please
    direct the CFO Coughlin to start reporting business
    segment return on capital? In the crazy market we are now
    in where nothing "fundamental" seems to be of
    temporal value, this may not necessarily generate a
    negative response - in fact, it would probably be seen as
    a favorable gesture in contrast to the
    condescending posture of his predecessor.

    3) Can he
    specifically address his return on capital philosophy as it
    relates to his deployment/investment strategy in his
    Shareholder Letter - again, hopefully without the topical &
    condescending tone of his predecessor?

    4) Is it possible
    for ABT to formally switch to EVA without seriously
    disrupting the current deployment strategy and/or management
    reporting system - which might have to be formally revamped
    to accomodate its parameters.

    Thanks again,
    Best to Longs...

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • 1) Does ABT still keep 2 sets of books in each
      division, with fake numbers being passed from the plants to
      the divisions, then from the divisions to
      Corporate?
      2) Does ABT still hold back inventory at the end of
      each quarter in order to manipulate sales? Oh wait,
      that was when health care reform was a threat,
      sorry.
      2) Does ABT still have a 85% turnover rate in their
      finance department? After all, those poor analysts have
      to come up with numbers for each update before the
      current period is over. Crunch crunch crunch! After all,
      gotta be the first to put out that earnings report,
      never mind the slave labor and fake numbers!
      3) Does
      ABT still have an abysmally low rate of women in
      senior management? Oh yeah, once they put a woman as a
      direct report to a division president in order to look
      good for the glass ceiling report. She had no direct
      reports and a fake title.
      4) Is Abbott still a
      hierarchical, white male run, good ole boy, sleep with your
      secretary and make her your wife type of
      company?

      Thanks!

      • 4 Replies to ruleitnow
      • I can answer questions 3 and 4.

        3) Abbott
        has women in senior management. Mary Szela is the VP
        of the perio-operative anesthesia division. Her
        climb to the top is proceeding as fast as Miles' climb.
        Whatever Mary touches seems to turn to gold. She was the
        product manager for Sevoflurane just a few years back,
        and now she's just 2 or 3 steps away from CEO. Mary
        is extremely intelligent and productive, 2 qualities
        that can get you far fast. Then there's Joy Admundson.
        I'm not quite sure where she is now, but Joy's name
        was mentioned as a candidate for CEO when Duane
        left.

        4) Abbott is not run exclusively by white males.
        Rick Gonzales, an hispanic, is president of HPD, and
        Eric Thomas (black), is director of marketing for
        Abbott's new sedation drug. I don't know who the've
        married or slept with, but they're hardly 'good ole
        boys'from what I can tell. Neither am I prepared, without
        evidence, to call Mary or Joy sluts, and both are extremely
        attractive.(At least Mary is.)


        All of these people
        seem quite capable of doing their jobs well, but it
        doesn't have anything to do with their gender,ethnicity,
        or physical attributes. I have no evidence to claim
        affirmative action gave these people a boost up the ladder.
        And if you asked them, I doubt they'd admit it even
        if they believed it. What would that say about the
        relative merits of the people they passed along the way?


        I'm hoping Abbott management has learned it's not
        worth worshipping at the alter of political
        correctness. A lot good that did them with the FDA! The recent
        television ad campaign with its slogan, "Support America's
        Pharmaceutical Companies", demonstrates how industry paticipants
        (including Abbott),desperate to ward off national
        healthcare, are turning against the giant they helped to
        create and which they believed was their friend. It
        remains to be seen whether that giant has any sympathy
        for its master. Frankenstein didn't.

      • Discussion:

        Why does the employees
        (current) ONLY are being reimbursed for as much as 50 % on
        Product purchases, while investors should also be able to
        buy the products (OTC) at the same price.
        Can
        someone bring this up in the shareholders
        meting?
        People are buying for sister-in-law's baby, friends
        Grandma and getting the reimbursement, where will the
        company make the money to pay shareholders for their
        dividend.
        Good luck to other investors.

      • hehehe

      • I don't know the answer to book cooking or number
        crunching, but I can tell you that the sales forces have
        more diversity than they deserve. For years, older
        white good ol' boys have been run off as soon as
        possible, and replaced with less experienced, cheaper, and
        dumber diverse candidates. As an Abbott stockholder;
        they are definitely saving money on the payroll and
        future retirement payments.

    • Wisper talk has it that ABT is having serious discussions with Boston Scientific regarding merger. Will he confirm or deny discussions?

 
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