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Pall Corporation Message Board

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  • DowDanny DowDanny Feb 7, 1999 11:20 AM Flag

    When will it be the dawn of a new day?

    IATIA, you da man...

    << 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.

    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.

    - DD

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    • DowDanny,

      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.

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