<< It is time to refocus the business in the niche markets that offer the highest margins/profits and most promising growth prospects, >>
like when the entire "bio-medical" field was being invented by Pall, and then as they took back control of distribution from J&J, Baxter and became a powerful sales machine on top of the innovative designer/manufacturers.
<< rather than foolish acquisitions or pursuing low-end/margin opportunities" >>
like municipal water supplies (been there, done that, bad business) and dental water (huh ?).
Clearly the past 5 years have not been for the better. Anybody with any experience with Pall in the '70s or '80s would have to agree that something is seriously wrong here. I'm not one to cast personal criticisms ("uncharismatic buffoons") but sometimes you have to start at the top and work your way down until you've solved the problems. Only problem, who has the interest to start there.
Once again, this company comes to look more and more like dead money. Will the dividend pay-out be greater than the booked earnings ? Will cash-flow even be positive this quarter ?
Not the type of questions I like to have to ask, but in Pall's case they are just too relevent.
Your messages are the only one's I find relevent to answer. But who can make the change? The BOD's are not in control, the shareholders are too indifferent. This company can not do it by itself. The problem runs too deep within the organization. "You live by the sword, you die by the sword." This is the only answer. This company needs to have done to it what they have been doing all along. It should be bought out. Maybe it should be Baxter.
Keep in mind that the healthcare industry is driven by the need to drive down costs. It's a hard place to justify high margin. High margin means either low cost or high price, you know that. Pall cannot do the former, and doesn't have the market insight to do the latter. I had said before, this company has driven away the innovators. Those folks were the ones smart enough to see this company is a losing cause. The effort needed for Pall to get into the consumer market in drinking water filtration would require an outside firm to handle. They just don't have it. The municipal water supply will take care of itself with the products they already offer. They need something new that can make Pall become a household name. Who the hell has ever heard of Pall outside the business community? How much bigger can the market get than every household in the world? Think about it. Maybe a bad example, but Bill Gates had the right idea. Maybe he should buy Pall.