Thoughts on Justin Lampropoulos

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  1. anonymous said:
    The stock is now $19.50 in after hours trading on October 30, 2019.
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anonymous said:
Comment anyone on why this happened?
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This company has been hiding one bad acquisition into the next one for years and then telling us there is all this organic growth. Fred and Justin don't want to hear from anyone that they might be making, or made, a bad decision. Todd Freese (head of US comm team) is a yes man and he is blind to the incompetence around him, including his latest promotion. Glad Wall St finally got wise to it, now maybe things will change. Doubt it, but maybe.
 






anonymous said:
This company has been hiding one bad acquisition into the next one for years and then telling us there is all this organic growth. Fred and Justin don't want to hear from anyone that they might be making, or made, a bad decision. Todd Freese (head of US comm team) is a yes man and he is blind to the incompetence around him, including his latest promotion. Glad Wall St finally got wise to it, now maybe things will change. Doubt it, but maybe.
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If this is true, it’s very serious. It sounds like they need new management.
 






It appears that the Street have not learned anything. When you read the basis of the lawsuits, it seems very grounded and think about "how bad" you really have to be to miss your eps by that much!
 






I agree with everything you say except the part about calling the anonymous hotline. Where does it go? To the board that reports everything directly to Fred and green lights all of his decisions?
A blind spot is one thing but someone had to clear the path for Justin, hide his under performance and exaggerate his experience and education. Not to mention the failed acquisitions.
Blind spot, bad decisions, ruthlessness. It’s all there but how can reporting it to the very people that willfully let it happen help?
 






Everything written is correct. The executives did not care enough to put up a fight or voice their concerns for the talented people at merit. The preferred their high paychecks instead of actually making sure that the right decisions were being made. The company needs new management. Every department VP who reports into Fred needs to be removed and new people brought on board who has the interest of the shareholders in mind and not beholden to Fred for their jobs. They are the ones that really screwed the employees.

I hope that the board is also removed with new people on it.
 






Merit just needs a CEO and Chairman that encourages feedback and input from the people around them. Merit has been a one man show since the beginning and it’s only recently that things got out of control. Maybe it’s time to hear from some other voices. We have no idea what the Board actually thinks. Maybe they are like everyone else, aware that if they disagree with the boss they will lose their seat. I’m sure people have been fired or pushed aside for speaking their mind.
 






Separating the Chairman role from the CEO role is a great idea for Merit. Fred should take on the Chairman role and allow a successor to take on the CEO role. As long that person is not Justin. Good lord, he is the worst. Not qualified for something like that by a country mile. I have been impressed with other Merit leaders though. Fred has built a great company and for his legacy to continue he should think about the next phase.
 






anonymous said:
Everything written is correct. The executives did not care enough to put up a fight or voice their concerns for the talented people at merit. The preferred their high paychecks instead of actually making sure that the right decisions were being made. The company needs new management. Every department VP who reports into Fred needs to be removed and new people brought on board who has the interest of the shareholders in mind and not beholden to Fred for their jobs. They are the ones that really screwed the employees.

I hope that the board is also removed with new people on it.
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Only Justin needs to go. Jr is a train wreck. Empower the others. Many great leaders at Merit who do care.
 






Remember that one sales meeting where Justin demoralized us over and over again with cost cutting, more cost cutting and than high level financials that us reps could care less about? Fred then got up and inspired. Todd did a great job putting out the fire, only to have the moron get up there and hammer us all with cost cutting and numbers again?? oh yeah that was like 2 weeks ago.

It’s not rocket science- Here’s how to inspire a rep like me and drive your goals. Tell us where to focus and then provide reward. Focus on high margin solid products and then put goals in place for us to run through and drive your strategy. Shit, maybe I should take that step up in to sales leadership. Na, not until Justin is gone and leaders are empowered.
 






anonymous said:
I agree with everything you say except the part about calling the anonymous hotline. Where does it go? To the board that reports everything directly to Fred and green lights all of his decisions?
A blind spot is one thing but someone had to clear the path for Justin, hide his under performance and exaggerate his experience and education. Not to mention the failed acquisitions.
Blind spot, bad decisions, ruthlessness. It’s all there but how can reporting it to the very people that willfully let it happen help?
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Checks and balances. Board will care and take it serious. Fred doesn’t control them. Abuse and poor leadership needs to be documented. If no one says anything than change will never occur.
 






anonymous said:
Checks and balances. Board will care and take it serious. Fred doesn’t control them. Abuse and poor leadership needs to be documented. If no one says anything than change will never occur.
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Why then with so many great heads of departments (meaning the VPs), have not one gone to the board to complain about the abusive environment? Because the board is stacked with Fred's cronies.
 






While it is painfully obvious that Justin Lampropoulos is inept, has done a terrible job and is only in this position because he is Fred's son there are many people in leadership roles at Merit who are unqualified. The vast majority of people in sales leadership roles over the past 3-4 years have been placed in those positions because of relationships with Fred/Justin and not due to their experience, skill or ability to lead/inspire. It is also obvious the decision was made several years ago to replace the majority of those on the sales team who had proven track records with less skilled individuals who would agree to work for a fraction of the compensation. One of the other reasons for the increasing problems at Merit is the poor decision making ability of Fred and the senior leadership team which has led to a multitude of bad acquisitions. Fred often brags about the bargain basement price he paid for the acquisitions, when in truth the reason for that was the companies/technology acquired were on a downward spiral and other companies were no longer interested.
When a company makes decisions as to who to promote or place in sales leadership positions based on their relationship with Senior Leadership instead of the skills/abilities of the candidates it will show as is the case at Merit. When decisions are made in hiring/retaining a sales force based on how cheap they can be had that will soon show, that is painfully evident today at Merit Medical
 






anonymous said:
Remember that one sales meeting where Justin demoralized us over and over again with cost cutting, more cost cutting and than high level financials that us reps could care less about? Fred then got up and inspired. Todd did a great job putting out the fire, only to have the moron get up there and hammer us all with cost cutting and numbers again?? oh yeah that was like 2 weeks ago.

It’s not rocket science- Here’s how to inspire a rep like me and drive your goals. Tell us where to focus and then provide reward. Focus on high margin solid products and then put goals in place for us to run through and drive your strategy. Shit, maybe I should take that step up in to sales leadership. Na, not until Justin is gone and leaders are empowered.
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The one thing that stuck out to me at the last sales meeting was how many reps were looking to leave
 






anonymous said:
Why then with so many great heads of departments (meaning the VPs), have not one gone to the board to complain about the abusive environment? Because the board is stacked with Fred's cronies.
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Fred has a heavy hand. There needs to be a separation of his power. He should either be chairman of the board or CEO- not both. He is incredibly talented, but everyone needs someone who can balance them. Unfortunately, at this moment no one can. People have to be very political and careful with him. He does listen, but because of his power things have to be done in the right way. If his role were to split, this company would change on a dime. The stock were soar.
The first to go would be Justin. See you later asshole. US sales would jump right away as leaders would be empowered again.
 






Such a massive self serving narcissist. How many US sales reps and managers have we lost since the sales meeting? 5? 6? Disgusting to see Justin destroy all that his father built while making our lives difficult. My territory has changed multiple times in the last year and I am not even sure what bag I sell now or who I report to. I have heard my manager complain, but he says his hands are tied. Merit has great products and such opportunity. Wonder if we (Justin) will ever get out of our way, so we can do our damn jobs and help patients.
 






This has to be the the most absurd thing I’ve ever read. There’s clearly several bad apples sitting here complaining about their own inability to do their job. I joined a year or so ago and have made a territory change and even changed my sales bag a bit. Guess what? That’s normal. After reading this board, it’s the last of the holdovers of the past five years. The talent had been upgraded and the management had done an excellent job at building the company and fast. I don’t envy the spot Justin is in. The acquisitions, disgruntled holdovers, and a small group of people (I know who you are) who make far too much and do far too little.

The reality is the company has changed even in my time. It’s a world class organization that has world class leaders who are approachable, listen, determined and willing. The entitlement amongst a faction of the sales force is also world class. I have been a rep at the biggest companies in the industry and would stack Merit in my top three. For those of you that sit and complain nonstop, the joke is really on you. The newer reps know who you are and laugh at you at every chance we get because your number is next and you know it. Your bloated salaries and entitlement will surely land you in the unemployment office which is where you belong.
 






anonymous said:
Such a massive self serving narcissist. How many US sales reps and managers have we lost since the sales meeting? 5? 6? Disgusting to see Justin destroy all that his father built while making our lives difficult. My territory has changed multiple times in the last year and I am not even sure what bag I sell now or who I report to. I have heard my manager complain, but he says his hands are tied. Merit has great products and such opportunity. Wonder if we (Justin) will ever get out of our way, so we can do our damn jobs and help patients.
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This is the best post yet. You’re a complete victim and the poster child for us newer reps who resent your laziness. See my above post. You’re a perfect example of what I wrote about. Are you a ten year guy? Guaranteed.
 






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