Archimedes ?

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The "Blah, Blah, Blah," thing just shows all of us that marketing has so much time on their hands. This place is sad and just about everyone is looking for a new job. Archimedes is lucky that the market is bad.
 












The top brass over estimated what this product would actually do with no medicare/medicaid coverage. The insurance is spotty at best. Unless your a millionaire you cant afford it.
 












I know most of the MSL staff and their director left. Will probably lose a lot of the sales staff due to attrition or layoffs.

Nobody pays for the product on preferred tier.
 












Anonymous said:
Not to worry....ole Bucky will get his gazillions. That is all he cares about. He has raped and pillaged every company her has ever been involved with.
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I hope Bucky put his money up to run this dog of a company. Drug sucks and no support. I hope Bucky losses everything except his reputation. That was tarnished years ago at Ilex.
 






It's a flawed business for many reasons, a rough guess at the US salary bill alone tells you that the cash burn rate is horrendous, easily 5x revenues... that 100 million must be smoke by now and with zero traction on the lead brand in the US this is no longer an investable entity...not that anyone is spending at the moment anyway.

Once the major investors Novo and Warburg wake up, do their own sums and shut the ATM expect to see this one broken down for parts and sold off at a loss.

It's a shame, 2 years ago this company had great potential.
 






Anonymous said:
It's a flawed business for many reasons, a rough guess at the US salary bill alone tells you that the cash burn rate is horrendous, easily 5x revenues... that 100 million must be smoke by now and with zero traction on the lead brand in the US this is no longer an investable entity...not that anyone is spending at the moment anyway.

Once the major investors Novo and Warburg wake up, do their own sums and shut the ATM expect to see this one broken down for parts and sold off at a loss.

It's a shame, 2 years ago this company had great potential.
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2 years ago, Bucky the Pirate showed up. No wonder the potential is gone.
 






Anonymous said:
2 years ago, Bucky the Pirate showed up. No wonder the potential is gone.
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Many people use these boards to point the finger at individuals but it is rarely as simple as one person.

A CEO reports to a board who are meant to sanction major decisions and intervene when necessary, e.g. to replace people in key roles ideally before a crisis point is reached. Then there is also of course the executive management team who should advise and influence the CEO appropriately.

Here you have a privately funded business with representatives from both major investors sitting on the board chaired by the CEO. Governance-wise this is a recipe for disaster, the CEO has absolute control over what information flows to the board, can dictate who is recruited to VP positions and then has the casting vote on board room decisions.

The first mistake was structuring the board in a way which fosters division and gives too much power to the CEO, you can trace pretty much every other problem back to that decision. It's surprisingly common in VC/PE backed businesses, that's why the good ones involve some seasoned professionals as non-execs and have mechanisms to prevent the CEO running away in some mad direction.
 






Anonymous said:
Many people use these boards to point the finger at individuals but it is rarely as simple as one person.

A CEO reports to a board who are meant to sanction major decisions and intervene when necessary, e.g. to replace people in key roles ideally before a crisis point is reached. Then there is also of course the executive management team who should advise and influence the CEO appropriately.

Here you have a privately funded business with representatives from both major investors sitting on the board chaired by the CEO. Governance-wise this is a recipe for disaster, the CEO has absolute control over what information flows to the board, can dictate who is recruited to VP positions and then has the casting vote on board room decisions.

The first mistake was structuring the board in a way which fosters division and gives too much power to the CEO, you can trace pretty much every other problem back to that decision. It's surprisingly common in VC/PE backed businesses, that's why the good ones involve some seasoned professionals as non-execs and have mechanisms to prevent the CEO running away in some mad direction.
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Your post is dead on. In this case, you can look at the past behavior of the individual and see that he has systematically created "empires" to serve his own greedy purpose. Go all the way back to Ilex. You will see that his executive leadership has involved cronyism and yes men to parlay it out. One need look no further than his parner in crime, Craig "me-Too-, Man" Whatever Bucky wants, he gets becuase he stacks the deck i nhis favor. No regard whatsoever for the lives his greed ruins along the way.
 












Anonymous said:
Your post is dead on. In this case, you can look at the past behavior of the individual and see that he has systematically created "empires" to serve his own greedy purpose. Go all the way back to Ilex. You will see that his executive leadership has involved cronyism and yes men to parlay it out. One need look no further than his parner in crime, Craig "me-Too-, Man" Whatever Bucky wants, he gets becuase he stacks the deck i nhis favor. No regard whatsoever for the lives his greed ruins along the way.
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Dead on! Ichan took 2 years to pry Bucky from Enzon. In the end, Bucky padded his wallet good at the expense of the Enzon shareholders like at Ilex. The drugs were sold to Sigma Tau which further reduced revenue. Bucky sold royalty rights on peg-products. In the end Ichan investment was worthless except a tax loss. Meanwhile, many lost jobs but most needed to go in senior management as friends of Bucky.

History will repeat itself at Archimedes. Bet on it!
 












If only there were more jobs available, over half of us in the field would leave. No one expects this ship to be floating past June anyway.

Agree with all of the above about our fearless and greedy CEO, but also put a lot of blame on the idiots in Marketing. Mike "where'd I park my camel" Matin not only has a failing plan, but did more to demotivate our sales team at launch than should be possible. He has a real genius team as well - none of whom could ever get a marketing job at a real company. One of my long time customers attended speaker training right after launch as a favor. Matin-marketing and Dr.Raji from MLSs ran the show. He said it was the worst and most unprofessional program he had ever attended. He said Matin was rude and insulting, not to mention full of s&it. If not for our past relationship, he would ban Archimedes from his office. He wrote one script as a favor, but will not speak due to credibility concerns after meeting our leaders. There is very little insurance coverage, so nothing selling and not worth trying anymore except when my manager rides along. It's not so bad hanging out until the ship hits the bank and using my days to find another job. My wife uses my company car for car pools since I only need it on the days when my Manager comes to town. I go park in the hospital lots and grab some carryout meals to keep the expense report looking active, but this drug will not sell and not damaging my own credibility with my Doctors anymore.

If you have a job, please don't leave one to come here. If you don't have one, it beats nothing, but just know that it will only last for a couple of months. Writing on the wall - our VP of Sales left and not replacing her position.
 






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