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anonymous said:
is right here.

https://seekingalpha.com/amp/article/4200704-patterson-companies-value-trap
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Rather than relying on speculation and hokus pokus crowd-sourced analytics, why not wait until 8/30/18 and look at hard data in the Q1 report? I appreciate a good conspiracy theory as much as the next gal, but these Wall Streeters constantly talk out of both sides of their mouth to always look accurate. Recall Mr. Mad Money Jim Cramer himself back in December interviewing Stanley Bergman on TV with glowing projections on the outlook of HSIC only to come back 2 weeks later and "report" Amazon was about to crush the entire dental distribution model. These guys get paid to talk smack and leave enough ambiguity in their reporting to be interpreted as right whichever way a company goes.

Don't get me wrong. Clearly PDCO is in a state of disrepair. But if you're still on here reading and posting, chances are good you're long on the company stock like the rest of us. Stands to reason most who have bailed would be content to watch the carnage from a distance while building their business elsewhere. Remember, being an idiot isn't a crime. Best of luck to all.

IMO a more exciting story to watch unfold lies with Sirona and their channel stuffing prior to Dentsply merger. That one has some meat.
 




That’s just exposing what we already knew. Having a 3rd rate bookkeeper and busboy run anything complex and allowing them to surround themselves and pay huge amounts to simpletons like Misiak, Rogan, Gugsie and Kilian was a pure recipe for this disaster.

Gugino and Anderson were way,way over their heads and most of the company and manufactures knew it.

Well done Team Patterson, you accomplished exactly what you said couldn’t happen with all your bullshit “strategies” and turned us into a dead company at the bottom of the sea along with Kodak, blockbuster etc,etc...

Sad thing is that each of you pulled out millions while firing good people, implementing pay cuts and starving this place of tools to make it more efficient.

Your actions may not be technically illegal, but you’re all morally bankrupt and we hope this shit follows you around for a long time!

Question: why are those 3 idiots Guggenheim, Rogan and Killian still working here? Punt those little fucks.
 




“IMO a more exciting story to watch unfold lies with Sirona and their channel stuffing prior to Dentsply merger. That one has some meat.” [/QUOTE]

DING DING DING!!! WE HAVE A WINNER!!!
Your prize for solving the puzzle is a Fight Song CD and a case of potato chips!
 




anonymous said:
That’s just exposing what we already knew. Having a 3rd rate bookkeeper and busboy run anything complex and allowing them to surround themselves and pay huge amounts to simpletons like Misiak, Rogan, Gugsie and Kilian was a pure recipe for this disaster.

Gugino and Anderson were way,way over their heads and most of the company and manufactures knew it.

Well done Team Patterson, you accomplished exactly what you said couldn’t happen with all your bullshit “strategies” and turned us into a dead company at the bottom of the sea along with Kodak, blockbuster etc,etc...

Sad thing is that each of you pulled out millions while firing good people, implementing pay cuts and starving this place of tools to make it more efficient.

Your actions may not be technically illegal, but you’re all morally bankrupt and we hope this shit follows you around for a long time!

Question: why are those 3 idiots Guggenheim, Rogan and Killian still working here? Punt those little fucks.
Click to expand...

Yes and while that rat Misiak deserted the ship he left the other 3 rats to gnaw away more profits and continue to make stupid decisions.
 












"Now before I turn it over to Don, I would like to provide a brief update regarding the Dental Supplies Litigation. While we continue to believe such claims are without merit and we in no way admit to any liability and while there has been no finding of any violation of law, we recently entered into settlement discussions with the plaintiffs. As a direct result of these discussions, we anticipate entering into a definitive settlement agreement.

We did this solely based upon our desire to avoid the time, expense, distraction and inherent uncertainty of litigation and to refocus our efforts on our business. Based upon these settlement discussions, although we have not yet entered into a definitive agreement and any such agreement would be subject to preliminary and final court approval, we currently estimate that the pretax cost of resolving this litigation will be $28.3 million. We reflected this estimate in our consolidated financial statements for the quarterly period ended July 28, 2018"

Whether this contributed to the initial 15% slide that would even out at a 5% loss for the day due to people seeing a cheaper stock and buying it back up a bit the above shows that while there is of course a denial of any wrongdoing the costs of fighting it would have sucked almost as loud as the mgt team that out us in that place to begin with. How I all is he going to get us back to $50/share with continually crappy numbers. Headwinds=New Fight Song
 




any word on what Benco’s settlement will be? Weren’t they presumed the instigator of this whole anti-trust thing? I can’t imagine they could stomach a $20M+ settlement very easily.
 




anonymous said:
any word on what Benco’s settlement will be? Weren’t they presumed the instigator of this whole anti-trust thing? I can’t imagine they could stomach a $20M+ settlement very easily.
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Yeah, that's something that would hurt a smaller fish for sure. Reading the ftc complaint it sure looked like the little Midge Rogan was just as culpable regardless of who started the whole thing. But the ftc complaint is still ongoing, my understanding the settlements are related to the lawsuits by the Texas association etc
 




i started with this company recently and just now learned about this forum. Lots of vitriol around management. I’ve yet to meet any bad people so I’m not sure why there’s so much negativity on these posts other than the obvious downturn in stock price, but that’s no reason to throw in towel, is it?
 




Here is the deal....a massive series of blunders by the executive team has led to most of them being shown the door. Historically, Patterson has been the best “local” dealer with most decisions being made close to the customer. As the old executive team implemented new systems & processes, errors in development & execution led to a disconnect in performance. Some local teams have remained strong & continue to perform while others have not.

If your on a good team/branch, congrats and just keep selling. If your not on a good team/branch, welcome to the rebuild team.....congrats and keep selling.
 




anonymous said:
i started with this company recently and just now learned about this forum. Lots of vitriol around management. I’ve yet to meet any bad people so I’m not sure why there’s so much negativity on these posts other than the obvious downturn in stock price, but that’s no reason to throw in towel, is it?
Click to expand...

Ha....if you have 30-40 years to be employed you might see an increase in the stock price. This company used to rule with pride, passion and the future looked great.....until the old guard left and the Minnesota mafia took over. These morons took a diamond and manufactured coal. It will be a long time before Patterson regains stature. Good luck!
 




anonymous said:
i started with this company recently and just now learned about this forum. Lots of vitriol around management. I’ve yet to meet any bad people so I’m not sure why there’s so much negativity on these posts other than the obvious downturn in stock price, but that’s no reason to throw in towel, is it?
Click to expand...

I wish I just started and didn’t have the 5-year memory of pain endured from those bozos who screwed this up so badly. Just remember these names: Anderson, Gugino, Misiak, Rogen, Guggenheim and Kiilian. Most are gone but a few more need to go. Why they’re still here with their lingering stench is beyond me. In any event stay positive because this may have bottomed our now and things can hopefully only get better...I hope.
 
















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