Mrs. Bayh, where was your oversight?
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Maybe when the DOJ is done with all this and if she herself gets no charges she will reconsider what she has done with her life after her husbad became powerful. At some point people have to look in the mirror. Sometimes it takes a life changing event even if people were trying to tell her for years how much of a conflict this was and how much time it takes to be a good board member and that being on 8 boards does not allow someone to be a good board member on any of those boards.
“My view,” said Nell Minnow, president of The Corporate Library, which rates board performance, if you’re a professional director, the last thing you want to do is rock the boat.”
That’s a dangerous quality for a director, she said, because good directors are not reluctant to challenge the company’s CEO.
Susan Bayh declined to be interviewed for [the] story.
That’s a dangerous quality for a director, she said, because good directors are not reluctant to challenge the company’s CEO.
Susan Bayh declined to be interviewed for [the] story.
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"Dendreon and its officers repeatedly inflated the level of demand for the company’s one and only drug – Provenge. At numerous investor conferences, in press releases, S.E.C. filings and even television interviews, the defendants repeatedly and falsely trumpeted the “very strong demand”,“very high demand”, “incredibly high demand” and “no shortage of end-patient demand” that existed for Provenge.The defendants consistently told shareholders that demand was “exceeding our ability to supply the market”,resulting in “completely sold out capacity”and “substantial waiting lists”at all or most ofDendreon’s treatment sites."
• When analysts questioned the company about Provenge’s high cost (doctors were required to advance from their own pockets the treatment cost of $93,000 per patient, while they awaited reimbursement from the insurer), the defendants falsely claimed that they saw no hurdles to reimbursement and that the high upfront cost was not affecting the uptake of Provenge by doctors.
• To buttress all of these false claims about Provenge, Dendreon and its officers issued false forecasts as to Dendreon’s expected sales and revenues.
The class action plaintiffs claim that the defendants, in fact, knew that these statements were all false. Dendreon and its officers knew at all material times that Provenge was performing poorly, and the precise reasons for the poor performance, based on plant “Capacity Reports”, “Reimbursement Confidence Reports”, “apheresis reports”, “Prescriptions vs. Infusion Reports”, andinternal Dendreon market research reports."
Mrs. Bayh, did you ever ask any questions about these things or did you ASSUME Mitch Gold was a mentally stable nice honest law abiding citizen?
• When analysts questioned the company about Provenge’s high cost (doctors were required to advance from their own pockets the treatment cost of $93,000 per patient, while they awaited reimbursement from the insurer), the defendants falsely claimed that they saw no hurdles to reimbursement and that the high upfront cost was not affecting the uptake of Provenge by doctors.
• To buttress all of these false claims about Provenge, Dendreon and its officers issued false forecasts as to Dendreon’s expected sales and revenues.
The class action plaintiffs claim that the defendants, in fact, knew that these statements were all false. Dendreon and its officers knew at all material times that Provenge was performing poorly, and the precise reasons for the poor performance, based on plant “Capacity Reports”, “Reimbursement Confidence Reports”, “apheresis reports”, “Prescriptions vs. Infusion Reports”, andinternal Dendreon market research reports."
Mrs. Bayh, did you ever ask any questions about these things or did you ASSUME Mitch Gold was a mentally stable nice honest law abiding citizen?
Susan B. Bayh
Ms. Susan B. Bayh is Independent Director at WellPoint, Inc., Independent Director at Dendreon Corp., Independent Director at Curis, Inc., and Independent Director at Emmis Communications Corp. She is on the Board of Directors at WellPoint, Inc., Dendreon Corp., Curis, Inc., Emmis Communications Corp., and Emmis Operating Co.
Ms. Bayh was previously employed as Independent Director by Dyax Corp., Commissioner by International Joint Commission, and Attorney-Pharmaceutical Division by Eli Lilly & Co. She also served on the board at MDRNA, Inc., Corvas International, Inc., Cubist Pharmaceuticals, Inc., Esperion Therapeutics, Inc., Anthem Insurance Cos., Inc., Anthem, Inc., Blue Cross & Blue Shield Association, and Novavax, Inc.
Ms. Susan B. Bayh is Independent Director at WellPoint, Inc., Independent Director at Dendreon Corp., Independent Director at Curis, Inc., and Independent Director at Emmis Communications Corp. She is on the Board of Directors at WellPoint, Inc., Dendreon Corp., Curis, Inc., Emmis Communications Corp., and Emmis Operating Co.
Ms. Bayh was previously employed as Independent Director by Dyax Corp., Commissioner by International Joint Commission, and Attorney-Pharmaceutical Division by Eli Lilly & Co. She also served on the board at MDRNA, Inc., Corvas International, Inc., Cubist Pharmaceuticals, Inc., Esperion Therapeutics, Inc., Anthem Insurance Cos., Inc., Anthem, Inc., Blue Cross & Blue Shield Association, and Novavax, Inc.
In the comment below from a couple of years ago, a Dr. Perry was opining that just in the city of Indianapolis there were dozens of people more competent on health care law than Mrs. Bayh. Original poster was questioning why she is sought after to sit on health care boards. Seems Dr. Perry was wondering the same thing a few years ago. It seems pretty obvious why she always declines to comment. Hopefully she will have to comment when we find out exactly what happened at DNDN and all the parties who were responsible.
"Your editorial last week on Susan Bayh’s memberships on health care company boards was remarkably restrained. There are SCREAMING conflicts. The reformation of the health care “system” has the potential to dwarf the impact Social Security or Medicare has on society. We need our elected officials to make decisions unfettered from these conflicts of interest. When asked about health care reform, Senator Bayh stated he was “agnostic.” I am certain Angela Braly of WellPoint is not “agnostic” about health care reform. Susan Bayh is on her board. I submit there are at least 30 attorneys in Indianapolis alone that know more about health care law than Susan Bayh does. Why weren’t they asked to serve on WellPoint’s board?"
Guy Perry, M.D.
"Your editorial last week on Susan Bayh’s memberships on health care company boards was remarkably restrained. There are SCREAMING conflicts. The reformation of the health care “system” has the potential to dwarf the impact Social Security or Medicare has on society. We need our elected officials to make decisions unfettered from these conflicts of interest. When asked about health care reform, Senator Bayh stated he was “agnostic.” I am certain Angela Braly of WellPoint is not “agnostic” about health care reform. Susan Bayh is on her board. I submit there are at least 30 attorneys in Indianapolis alone that know more about health care law than Susan Bayh does. Why weren’t they asked to serve on WellPoint’s board?"
Guy Perry, M.D.
Why doesn't the subject matter come forward and tell the FBI all she knows?
Evan Bayh and his wife and Mitch Gold. 3 greedy peas in a pod. All about money.
"When he first announced that he was stepping down from the United States Senate, Evan Bayh cited a lot of high-minded reasons for the decision. So high-minded was his talk that Ezra Klein was moved to remark that “Evan Bayh might have been an ordinary politician, but he’s proving an extraordinary retiree.” It turned out, however, that his main plan was to get rich as a lobbyist. Today we learn that he’ll also be acquiring a secondary gig as a conservative television pundit:
Note that there’s considerable synergy between Bayh’s job at McGuireWoods LLP and his Fox gig. This way business enterprises hoping for regulatory favors or subsidies from the federal government can hire McGuireWoods not only to take advantage of Bayh’s influence and knowledge on the Hill, they’ll also be gaining on on-air television spokesman, presumably one whose client affiliations won’t be disclosed to the viewing public."
"When he first announced that he was stepping down from the United States Senate, Evan Bayh cited a lot of high-minded reasons for the decision. So high-minded was his talk that Ezra Klein was moved to remark that “Evan Bayh might have been an ordinary politician, but he’s proving an extraordinary retiree.” It turned out, however, that his main plan was to get rich as a lobbyist. Today we learn that he’ll also be acquiring a secondary gig as a conservative television pundit:
Note that there’s considerable synergy between Bayh’s job at McGuireWoods LLP and his Fox gig. This way business enterprises hoping for regulatory favors or subsidies from the federal government can hire McGuireWoods not only to take advantage of Bayh’s influence and knowledge on the Hill, they’ll also be gaining on on-air television spokesman, presumably one whose client affiliations won’t be disclosed to the viewing public."
http://gawker.com/5809509/evan-bayh-sucks
"Former Democratic Sen. Evan Bayh simply had to resign from Congress last year, as our polarized politics were preventing him from singlehandedly saving the world in his role as a mere public servant. "At this time," as he said in his powerful resignation speech, "I simply believe I can best contribute to society in another way: creating jobs by helping grow a business, helping guide an institution of higher learning, or helping run a worthy charitable endeavor." Got it? He would sacrifice his sizable political power to help America, by creating jobs, giving to charity, and advancing higher education.
That resignation announcement came in February 2010. Let's check in on how the magical, healing hands of the demi-god Evan Bayh are contributing to society nowadays:
He is a partner at the corporate lobbying firm McGuire Woods LLP.
He is a Senior Advisor to the private equity firm Apollo Global Management.
He is the token punching-bag Democrat for Fox News.
And now, he has been hired by the omnipotent Chamber of Commerce, where, along with former George W. Bush chief of staff Andy Card, he will be "part of the Chamber's anti-regulation messaging team, doing 'speeches, events, and media appearances at local venues.'"
We all, as Americans, are lucky to have a selfless man on such a towering scale as Evan Bayh to courageously work for the interests of common folk everywhere."
"Former Democratic Sen. Evan Bayh simply had to resign from Congress last year, as our polarized politics were preventing him from singlehandedly saving the world in his role as a mere public servant. "At this time," as he said in his powerful resignation speech, "I simply believe I can best contribute to society in another way: creating jobs by helping grow a business, helping guide an institution of higher learning, or helping run a worthy charitable endeavor." Got it? He would sacrifice his sizable political power to help America, by creating jobs, giving to charity, and advancing higher education.
That resignation announcement came in February 2010. Let's check in on how the magical, healing hands of the demi-god Evan Bayh are contributing to society nowadays:
He is a partner at the corporate lobbying firm McGuire Woods LLP.
He is a Senior Advisor to the private equity firm Apollo Global Management.
He is the token punching-bag Democrat for Fox News.
And now, he has been hired by the omnipotent Chamber of Commerce, where, along with former George W. Bush chief of staff Andy Card, he will be "part of the Chamber's anti-regulation messaging team, doing 'speeches, events, and media appearances at local venues.'"
We all, as Americans, are lucky to have a selfless man on such a towering scale as Evan Bayh to courageously work for the interests of common folk everywhere."
And I am sure this "wonderful" couple, Evan and Susan watched Jack Abramoff on 60 minutes tonight say that the only way to ever fix Washington lobbying is to make it illegal for politicians after their careers to be involved with lobbying. These people are truly horrible. Like Gold, they do everything for money. It doesn't matter who or how many people they harm. These people are consumed with greed. They feed off the system like vultures. They are the true blood-suckers of this economy. They are lower than people feeding off welfare and using the welfare system. These are "high society" people feeding off the "welfare" of hard working tax paying Americans. Gold should rot in prison. The other 2 should rot knowing that everyone knows they feed off the system. They can continue to decline reporters asking them questions. Everyone knows.
Best yahoo board post ever...
While at Savient, the company lost 80% of its value and has gone down 80% again.
Since he started at D'Enron, it's down 60%.
The company has no hope.
Investor confidence? How can you instill investor confidence when surrounded by (soon to be indicted) confidence men? He can't say anything without looking like another pump and dump man
Business? That's forgotten. The company is curled into a ball waiting for the indictments. They can't recruit sales people, they are loosing them with the bad morale. The urology clinics say they are interested, but never see a sales person.
Management? None of that either, look at where the costs are going, less than 1/3 is actually producing the drug.
Product? I still believe in it, but it clearly isn't selling, listen to what JJ said in the last earnings call (e.g. he coded that April was bad and already making excuses for June based on docs being away at ASCO).
Someone will buy the product and the furniture. Both are nice.
But, the company is beyond hope as it is.
Morale and confidence will take months to rebuild after the indictments.
And, don't forget, the people who bought those convertible bonds were also victims of the Gold pump and dump. They will soon sue for liquidation to recover 25 cents on the dollar, with the technology sale, maybe they'll get 40 cents if they act fast.
I sold my 35000 shares, some of which I'd held since before FDA approval.
Call me completely disgusted by criminals who have ruined a company with such great promise.
Lock them up for a *Long* time and get me a settlement to pay a bit more on my losing stock help during the pump and dump scheme run by Gold.
Sentiment : Strong Sell
Rating :
(No ratings)Rate it:
While at Savient, the company lost 80% of its value and has gone down 80% again.
Since he started at D'Enron, it's down 60%.
The company has no hope.
Investor confidence? How can you instill investor confidence when surrounded by (soon to be indicted) confidence men? He can't say anything without looking like another pump and dump man
Business? That's forgotten. The company is curled into a ball waiting for the indictments. They can't recruit sales people, they are loosing them with the bad morale. The urology clinics say they are interested, but never see a sales person.
Management? None of that either, look at where the costs are going, less than 1/3 is actually producing the drug.
Product? I still believe in it, but it clearly isn't selling, listen to what JJ said in the last earnings call (e.g. he coded that April was bad and already making excuses for June based on docs being away at ASCO).
Someone will buy the product and the furniture. Both are nice.
But, the company is beyond hope as it is.
Morale and confidence will take months to rebuild after the indictments.
And, don't forget, the people who bought those convertible bonds were also victims of the Gold pump and dump. They will soon sue for liquidation to recover 25 cents on the dollar, with the technology sale, maybe they'll get 40 cents if they act fast.
I sold my 35000 shares, some of which I'd held since before FDA approval.
Call me completely disgusted by criminals who have ruined a company with such great promise.
Lock them up for a *Long* time and get me a settlement to pay a bit more on my losing stock help during the pump and dump scheme run by Gold.
Sentiment : Strong Sell
Rating :
(No ratings)Rate it:
The media, investigative reporters have been waiting years for responses from either of these 2 lowlives. They always decline to answer fair questions. If they had legit answers they would love to clear up all the questions. The problem is they don't. Their silence speaks volumes about the kind of people the Bayh's are. Money means more to them than any kind of dignity. 2 low lives.
At the ASM, in the limited time people could say anything, shareholders told the board about putting the company in peril for not exhibiting any kind of legitimate oversight. She's on the board. I hope she understands how much she failed after people warning her for so many years how overboarded she is.
from Investors Village
"Guam I would add one more uncertainty. DNDN has a track record of channel stuffing the end of a quarter to give a perceived accelerating ramp. What Gold and Schiffman did in the first week of January with their announcement of a strong December was so criminal words cannot describe."
Mrs. Bayh, why did you take the performance bonus that was based on a stock going from 35 to 7 during calendar year 2011 and partially based on revenues moved from q1 2012 to q4 2011. Do you have any heart at all or are you like Mitch and its all about money?
"Guam I would add one more uncertainty. DNDN has a track record of channel stuffing the end of a quarter to give a perceived accelerating ramp. What Gold and Schiffman did in the first week of January with their announcement of a strong December was so criminal words cannot describe."
Mrs. Bayh, why did you take the performance bonus that was based on a stock going from 35 to 7 during calendar year 2011 and partially based on revenues moved from q1 2012 to q4 2011. Do you have any heart at all or are you like Mitch and its all about money?