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Quest IT Outsourcing

Discussion in 'Quest Diagnostics' started by Anonymous, May 4, 2013 at 11:08 AM.

  1. Anonymous

    Anonymous Guest

    Totally agree with these comments.

    This next round of cuts will be dramatic. Looking at approximately 85% reduction of existing talent within IT Infrastructure. I have serious doubts about how the IT function will be able to move forward at Quest Diagnostics and address the challenges around standardization and regional consolidation without the IT Infrastructure as a functioning partner. All of these business processes operate on highly specialized legacy platforms, unique LIS interfaces, and billing programs written 30+ years ago. Not something anyone offshore has the knowledge to effectively support today.

    Can an outsourcer provide basic KTLO services? Maybe. Can they effectively support the infrastructure of a $7B highly specialized Healthcare Information company? Can they add any value to patients or shareholders? Time will tell, but I think we all already know the answer to those questions.

    As a shareholder, I have already removed all exposure to DGX.
     
  2. Anonymous

    Anonymous Guest

    <SARCASM>
    Why would this be difficult? All the infrastructure people do is reset passwords. Anybody can do that.
    </SARCASM>
     
  3. Anonymous

    Anonymous Guest

    Have you also asked any mutual fund companies of which you may be invested in to also remove their exposure to Quest? Top five holders (according to public SEC filing as of Mar 31, 2013) account for almost 33% of Quest Diagnostics outstanding stock. Surely they can find something more effective to invest in?

    9.31% - Capital World Investors
    7.09% - Aberdeen Asset Management PLC
    6.42% - Vanguard Group, Inc. (The)
    5.57% - FMR, LLC
    4.37% - Price (T.Rowe) Associates Inc
     
  4. Anonymous

    Anonymous Guest

    Wow help explain a bit I sold my stock back in Jan this ship is going down so if we have stock in vanguard its at risk?? Time to move the money now
     
  5. Anonymous

    Anonymous Guest

    Not so much that your Vanguard fund is at risk as they are diversified and would not have a particular fund overly invested in one company however Vanguard is one of the major holders of Quest stock. Vanguard has about half a billion dollars invested in Quest. Not peanuts. Due to the size of Vanguard's entire holdings, if Quest tanks then Vanguard would take a hit of course but not major. The fact remains however that if Vanguard had that half billion in a different company that was able to track the S&P 500 over the past 14 months, then instead of Vanguard loosing almost a million dollars on their investment, they would have made a bit more than a hundred million dollars. So effectively, their choice to remain invested in Quest during the tenure of the new leader has cost the Vanguard investors a hundred million dollars.
    So my question would be, Why do the Vanguard money managers think it is a good idea to remain invested in Quest and have Quest continue in the direction it has been going for the past 14 months?
    Vanguard could actually ask the Quest board of directors questions and demand answers. There is a pretty strong chance that Vanguard has substantial influence on the board and may even be directly responsible for some of the current board seats. So actually one could hold Vanguard accountable for what is going on as well?
     
  6. Anonymous

    Anonymous Guest

    The next shoe is to fall this week. Infrastructure will annouce their outsourcing plans.

    Soon IT will all be outsourced to India.
     
  7. Anonymous

    Anonymous Guest

    THis is pure genius-you must be highly skilled; yes hold Vanguard accountable. Quest investment of half billion is like peanuts for Vanguard, since it has $2 trillion under its control. it does not take much to see Quest stock is circling like crap, going down the toilet. Just Flush hard.
     
  8. Anonymous

    Anonymous Guest

    Thank you, of course your knowledge and the fact you know what is going on makes you unfit for quest duty. This once great company has become nothing more then a pile of shit and its only going to get worse. We used to be able to sell our robust IT capabilities and all we have done is jump ship with services and support and have customers call an 800# that puts them on hold for 30min and then do their best to bridge the gap in language
     
  9. Anonymous

    Anonymous Guest

    So sad but so true.
     
  10. Anonymous

    Anonymous Guest

    When???
     
  11. Anonymous

    Anonymous Guest

    Dog and pony show scheduled for this Thursday.
     
  12. Anonymous

    Anonymous Guest

    Quoting from Wikipedia:
    "In a publicly held company, directors are elected to represent and are legally obligated to represent the interests of the owners of the company—the shareholders/stockholders."

    The major stockholders of Quest are clearly consolidated in a handful of large institutions. It is these institutions which have the legal authority and obligation (to their shareholders) to ensure that they are getting their interests looked after.

    (Although perhaps I misunderstood whatever point you were trying to make?)
     
  13. Anonymous

    Anonymous Guest

    Wow... quoting Wikipedia. Anyone, how does a Director's fiduciary obligation have anything to do with a shareholder's obligations? Shareholders, no matter how big, have no obligations to anyone but themselves.
     
  14. Anonymous

    Anonymous Guest

    Just trying to give some education to fill an obvious void. But that is ok, you can just go on believing whatever makes you feel good.
     
  15. Anonymous

    Anonymous Guest

    Let's try this again, slowly - you use "directors are elected to represent and are legally obligated to represent the interests of the owners" to explain how fund managers who own DGX shares have an obligation to protect Quest shareholders. Its a non sequitur (go ahead and wiki that).
     
  16. Anonymous

    Anonymous Guest

    The outsourcing announcement will probably happen at the end of the month and typical Quest layoff/firing will happen before the holidays sometime in Nov.
     
  17. Anonymous

    Anonymous Guest

    This Thursday is the announcement. They just spent $800,000 so they could stream the bad news to your desk PC.
     
  18. Anonymous

    Anonymous Guest

    Ironic? Maybe that's not th exactly correct use of the word, but there is something interesting in those "selfish white people," getting rich by taking jobs away from relatively rich white Americans and giving them to relatively impoverished Indians....
     
  19. Anonymous

    Anonymous Guest

    It is no surprise that Quest would outsource. Outsource will probably do a better job with half the people because at least they will have people working. Not like the current Quest IT that is never in the office. working from home if you think. or 200 TOP days a year and only put in 20.
    The BYOD so they can answer the phone/emails from the golf course or the mall or wherever else you hide.

    You guys did it to yourselves.

    Now see if your next job will tolerate the laziness.
    Even if they let everyone go at the end of the week , End users would not even notice
     
  20. Anonymous

    Anonymous Guest

    Wow where did that come from? Quest has never spent the money or time to standardize leaving IT to hold up a 30 year old limping along system if you think things are going to get better once they leave you have lost your mind better learn to fix your own problems real soon or hope you get someone to help you
     

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