VOCE Capital

Quote

Anonymous

Guest
My God, in 8 months they forced 2 Board members to resign (Danials and Swartz), they forced the only Chairman the company ever had to resign, they forced out his son the CEO. These guys went out with hardly a whimper! I thought they would at least try and put a fight and run for re election, but they chose to simply resign without even attempting a fight. Why? Who else does VOCE have in their sights? The new CEO, Hartman, signed an agreement that he was to stay silent and not try and manage the senior management from the board. Is that still in place and as CEO, even though it's only until a replacement is found, is he is not allowed to manage the senior management as CEO?
 






Anonymous said:
My God, in 8 months they forced 2 Board members to resign (Danials and Swartz), they forced the only Chairman the company ever had to resign, they forced out his son the CEO. These guys went out with hardly a whimper! I thought they would at least try and put a fight and run for re election, but they chose to simply resign without even attempting a fight. Why? Who else does VOCE have in their sights? The new CEO, Hartman, signed an agreement that he was to stay silent and not try and manage the senior management from the board. Is that still in place and as CEO, even though it's only until a replacement is found, is he is not allowed to manage the senior management as CEO?
Click to expand...

In his last letter, Plants from VOCE said that Hartman wanted Joe's job. Boy, VOCE sure called that one didn't they. Hartman ran poor Joe out of there in just a few months, faster than a pretty secretary running for her life down the halls of Stryker, and took his CEO job. The next 3 that have to go are Tryriski, Mandia and Golden, the remaining 3 board members who were around for the Corasanti era. They were there watched the trips for winters in Fla, created the comp plans for all the Corasanti's, participated, allowed to happen, knew all about, etc. all the stuff VOCE wrote about in the two public letters. They should be immediately replaced, or if they had any dignity, integrity, or self respect, resign! Immediately!!!
 






Anonymous said:
In his last letter, Plants from VOCE said that Hartman wanted Joe's job. Boy, VOCE sure called that one didn't they. Hartman ran poor Joe out of there in just a few months, faster than a pretty secretary running for her life down the halls of Stryker, and took his CEO job. The next 3 that have to go are Tryriski, Mandia and Golden, the remaining 3 board members who were around for the Corasanti era. They were there watched the trips for winters in Fla, created the comp plans for all the Corasanti's, participated, allowed to happen, knew all about, etc. all the stuff VOCE wrote about in the two public letters. They should be immediately replaced, or if they had any dignity, integrity, or self respect, resign! Immediately!!!
Click to expand...

Right you are about the remaining 3 stooges. As for the end of your post, you must be a comedian. "Dignity, integrity,or self respect"???!!! You DO realize what company you are posting about, right?
 






Anonymous said:
In his last letter, Plants from VOCE said that Hartman wanted Joe's job. Boy, VOCE sure called that one didn't they. Hartman ran poor Joe out of there in just a few months, faster than a pretty secretary running for her life down the halls of Stryker, and took his CEO job. The next 3 that have to go are Tryriski, Mandia and Golden, the remaining 3 board members who were around for the Corasanti era. They were there watched the trips for winters in Fla, created the comp plans for all the Corasanti's, participated, allowed to happen, knew all about, etc. all the stuff VOCE wrote about in the two public letters. They should be immediately replaced, or if they had any dignity, integrity, or self respect, resign! Immediately!!!
Click to expand...

The 3 board members you mention are not just well paid hacks for the Corasantis they are unqualified well paid hacks. tryrisks is a auditor/banker , golden is a local CPA, and best one all is mandia.who is a olive oil importer. None have any experience in the medical business. There total function on the board was to simply vote for every creative scheme to give the Corasantis and his relatives more money. They should be replaced by people who know something about the global healthcare market, or understand their responsibility to the shareholders, and have some ethics. Known of these traits are possessed by these 3 board members.
 






Anonymous said:
The 3 board members you mention are not just well paid hacks for the Corasantis they are unqualified well paid hacks. tryrisks is a auditor/banker , golden is a local CPA, and best one all is mandia.who is a olive oil importer. None have any experience in the medical business. There total function on the board was to simply vote for every creative scheme to give the Corasantis and his relatives more money. They should be replaced by people who know something about the global healthcare market, or understand their responsibility to the shareholders, and have some ethics. Known of these traits are possessed by these 3 board members.
Click to expand...

When will JD go?????? TOTAL FAILURE.
 
























Anonymous said:
When will JD go?????? TOTAL FAILURE.
Click to expand...

JD and others will not survive the year! The number one problem Conmed has is growing revenue. JD is responsible for all the revenue of Conmed, and he has not made his number in years. He will be gone now that the guy who hired him, listened to him, protected him,etc. was fired. The people running the general surgery business will be gone too. That segment of Conmed is about to fall off a cliff, and the people in charge are going to fall off with it. There seems to be a mistaken belief that the new people in charge of the board, from Stryker and Bain, are in this to protect the good people of Utica, Denver, and Largo. Wrong! Have you researched these guys? They are in this to make money. Mostly for themselves! The first thing they have to do is convinces the big institutional shareholders that it was better to turn down what was being offered now for Conmed, and not wait until later when they get the value higher. That is a tough story to tell when your revenue keeps declining every quarter. So you have to give them a some story which includes we are getting rid of all the people running this sinking ship, and give us a chance with some new management. the big question is does a new leadership group in sales and marketing have what it takes and a better plan to take on and succeed versus Stryker, Covidien, etc. Or, are the issues bigger than just bad sales and marketing management?
 












Anonymous said:
the big question is does a new leadership group in sales and marketing have what it takes and a better plan to take on and succeed versus Stryker, Covidien, etc. Or, are the issues bigger than just bad sales and marketing management?
Click to expand...
I am thinking so... there didn't seem to be a lot of coordination of the corporate "vision" and the solutions that were being developed. Some of the products required a long term system sell, and the sales team has seemed to be pushed to the quick sell. The quick sell got the attention, and the long term system sell was pushed aside. It didn't seem to count that the long term sell got Conmed the continued interaction which helps get the short term sell. As near as I can tell, Conmed is equipped to only handle the commodity market.
 






Anonymous said:
I am thinking so... there didn't seem to be a lot of coordination of the corporate "vision" and the solutions that were being developed. Some of the products required a long term system sell, and the sales team has seemed to be pushed to the quick sell. The quick sell got the attention, and the long term system sell was pushed aside. It didn't seem to count that the long term sell got Conmed the continued interaction which helps get the short term sell. As near as I can tell, Conmed is equipped to only handle the commodity market.
Click to expand...

No one can deny that JD and the other senior people of the Orthodox and General Surgery business units are not capable of success versus the companies your talking about. But how many times have we seen Conmed bringing in people from JNJ or GE and heard them tell us all that this is how they did things in the market at JNJ or GE only to become frustrated that at Conmed those things did not work. This is not JNJ. So if Hartman thinks bringing in a bunch of old cronies from Stryker will turn sales around using the same strategies that worked at Stryker, he'll soon find out this isn't Stryker either. Hartman better come up with a plan to beat the big guys when your not one of the big guys. Instead of trying to do things like the big guys and having the market dismiss us because we're not.
 






Anonymous said:
No one can deny that JD and the other senior people of the Orthodox and General Surgery business units are not capable of success versus the companies your talking about. But how many times have we seen Conmed bringing in people from JNJ or GE and heard them tell us all that this is how they did things in the market at JNJ or GE only to become frustrated that at Conmed those things did not work. This is not JNJ. So if Hartman thinks bringing in a bunch of old cronies from Stryker will turn sales around using the same strategies that worked at Stryker, he'll soon find out this isn't Stryker either. Hartman better come up with a plan to beat the big guys when your not one of the big guys. Instead of trying to do things like the big guys and having the market dismiss us because we're not.
Click to expand...

Two real easy observations that all of you can understand:

1. You are NOT and will never be one of the "big guys."

2. The market DID dismiss you long ago. Look at your sales numbers. Nobody has made them in years.
 






Anonymous said:
I am thinking so... there didn't seem to be a lot of coordination of the corporate "vision" and the solutions that were being developed. Some of the products required a long term system sell, and the sales team has seemed to be pushed to the quick sell. The quick sell got the attention, and the long term system sell was pushed aside. It didn't seem to count that the long term sell got Conmed the continued interaction which helps get the short term sell. As near as I can tell, Conmed is equipped to only handle the commodity market.
Click to expand...

The problem with the commodity market is Stryker's reprocessing business. You can't walk a cheap knockoff shaver blade or bovie tip or harmonic thingy into the OR anymore, because they can get cheap reprocessed versions of Stryker blades and Harmonic ACE... From Stryker.

I think the only survival play is to team up with Applied somehow. Basically sell to them in some kind of all-stock deal (since there is no cash). Now at least you have general surgery and arthroscopy in one company. Then sell that whole bundle to Arthrex, who do have cash, then sell that whole bundle to ZMH. Maybe. It just might work.
 


















Top Bottom
Back
Quote