this team is a joke. passing off excuses for FDA warnings,now the 4th I believe, because they are decentralized, I don't know if the quality director is still with the company but he shouldnt be, what an embarrassment. talking about how their team was too aggressive on the forecast for 09 in 4th quarter call, etc. etc. etc.
I went to the shareholders meeting and it was laughable, all these charts about comparisons to other companies, sectors, etc. and talking about how they stacked up in comparison to their performance. Last I checked they (syk management) should compare themselves to previous performance, previous management and make the necessary adjustments to deal with the challenges they face. Only one person asked a tough question from these buffoons. I felt like I was listening to politicians/government. They gave a gift to Si Johnson, Si should have been handing out gifts not McMillan. What is Lonnie Carpenter doing running a division????? Come on wake up Board members. There are many other more capable people able to run this show then Mac and company, they are more like a bad comedy routine at at a talent show.
Mittee, I bet that felt good. you were rated a 1 for ranting. You have been posting here for over 10 years and always bring good perspective. I agree that the current team is not up to the task. we will see how long it takes the board to deal with it. It took less than a year to move Paulson from the ortho division. I guess Mac is more in with the crowd. The never ending stream of regulatory action is a symptom of a problem. "The fish stinks from the head."
thank you boneinvest, much appreciated, lol. needed the rant, the talent that has left the company is staggering, i was willing to give the new team a break but he's had his chance and fda warnings, lawsuits over selling OP 1 for non approved use, making excuses, non of that flies for me, but im just a little shareholder. most of their division managers including carpenter are not up to the task, for a while they could rely on margin increases, demographics and cost cutting. one of the statement from the cfo was they can use some purchasing leverage to buy product centralized vs decentralized, wow how has it taken this long to figure that out, decentralized is good when things are running good but the challenges they face now will show what they are made of, scary thought. lets see how long the love fest continues till someone with real talent brings in a real team.
the most restructuring Stryker has ever done was the Howmedica deal..that changed Stryker from a small player to a big Ortho company. All other business are fragmented, in their markets. Mac needs to develop a strat plan and vision for the company...their image in the market is sales focussed. They better get that going....and the Stryker family does not help, controlling so much stock keeps potential buyers away, and it actually drives down shares for others...they should think about that..their big sales are programmed,,,as they have so many shares, their advisors have them dilluting themselves, and at the same time dilluting others
In good economic times, most of these problems would be no big deal. In a slow economy everything is magnified. When cutting costs, was Mac's strategy to get rid of many experienced employees and work with less expensive less experienced people? When the Stryker stock was in the 70's, I don't recall amny of these issues coming up and Stryker's management being second guessed.