Why did the beard mortgage the company for 200 Million?

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Anonymous said:
Divis was then and is today totally over his head. To label him clueless is an insult to those who have no clue. But these are the types of puppets that Marc and Sara wanted. Granted Greggie would have been canned long before if the beard wear not fired himself. Even the beard wanted the 27 Million in retirement. Mike Anderson is another in a long line of executives (from there-rx, ethex, discovery, etc) who sat idly by and let it happen.
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There were some executives that were constantly at odds with Marc. Kirscher & Levinson for example. They paid a hefty price for not agreeing with some of the mgt decisions made by Marc and other executives. Marc's error was placing his trust in people that should have not been trusted for sound advice.
 






Anonymous said:
There were some executives that were constantly at odds with Marc. Kirscher & Levinson for example. They paid a hefty price for not agreeing with some of the mgt decisions made by Marc and other executives. Marc's error was placing his trust in people that should have not been trusted for sound advice.
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March fired his brother in law-Mitch Kirschner. This family is tight.
 






Anonymous said:
Hey, I didn't say that Marc Hermelin didn't have part in the demise of the company... he did, but so did the management team that he depended upon. The remnant of that management team (namely, Divis, Goedeke, and some others) are still there doing what they can to destroy the company. You've got to agree that even since Marc Hermelin's departure from the company, the company made some pretty awful decisions that can be traced to Divis and his management cohorts (and perhaps the board of directors).
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I worked at KV for a number of years while Marc was in charge. He ran the show. Nothing was done without his approval and direction. Working there really messed up my head,just like it did to others. I don't blame Divis or Goedeke as I am sure they were impacted just like me. Unless you have been in that environment, it is hard to understand. Marc really screwed this place up and no one was able to repair the damage.
 






Anonymous said:
I worked at KV for a number of years while Marc was in charge. He ran the show. Nothing was done without his approval and direction. Working there really messed up my head,just like it did to others. I don't blame Divis or Goedeke as I am sure they were impacted just like me. Unless you have been in that environment, it is hard to understand. Marc really screwed this place up and no one was able to repair the damage.
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Still doesn't excuse the outrageous salary increases that the board and Divis got after Marc resigned. In the last 4 years Divis and his management cohorts literally raped the company and made some of the poorest management decisions I've ever witnessed.
 






Anonymous said:
Still doesn't excuse the outrageous salary increases that the board and Divis got after Marc resigned. In the last 4 years Divis and his management cohorts literally raped the company and made some of the poorest management decisions I've ever witnessed.
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Divis reports to the board. If the board thinks he is doing a bad job then they will fire him. By literally raped the company-what do you mean? Specifics.
 












Anonymous said:
Divis reports to the board. If the board thinks he is doing a bad job then they will fire him. By literally raped the company-what do you mean? Specifics.
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Did you see the salary and perk increases that Divis, his management cohorts, and the board voted themselves last year? They run the company into bankruptcy, and reward themselves with outlandish salaries and perks at the expense of whatever revenues the company has been able to generate.

It appears that the board is just as egregious as the management of the company....they seem to have been looking out for themselves at the expense of stockholders, employees, and patients. I feel for the 1500+ dedicated ex-employees that lost their jobs while Divis and his cohorts richly reward themselves while the company sinks further into the toilet. What ever happened to the concept of reward for performance at this company??
 












Anonymous said:
Did you see the salary and perk increases that Divis, his management cohorts, and the board voted themselves last year? They run the company into bankruptcy, and reward themselves with outlandish salaries and perks at the expense of whatever revenues the company has been able to generate.

It appears that the board is just as egregious as the management of the company....they seem to have been looking out for themselves at the expense of stockholders, employees, and patients. I feel for the 1500+ dedicated ex-employees that lost their jobs while Divis and his cohorts richly reward themselves while the company sinks further into the toilet. What ever happened to the concept of reward for performance at this company??
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No dude you've got it all wrong. Divis had to give himself a raise in order to afford those big ass suit jackets he wears at meetings. I estimate he pays bout 30K per jacket due to the massive amount of fabric and sewing hours needed to stich each blanket er I mean jacket. In fact each time you see Divis in a suit jacket 1,000 llamas were slaughtered for their fur. So as you can see somebody must account for the vast resources being exhausted to make Divis' suit jackets and sadly that means ther-rx employees. Sucks don't it.
 






Anonymous said:
Divis reports to the board. If the board thinks he is doing a bad job then they will fire him. By literally raped the company-what do you mean? Specifics.
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Do you think misunderstanding the exclusivity provisions of the Orphan Drug Act constitutes incompetence?? What about not being able to manufacture the vaginal creams themselves (before having Perrigo do it for them)? What about thinking they could sell off rights to the generic products to Zydus and then sell what Zydus manufactured (this plan didn't work)? Do you think maintaining such a high price for Makena helped improve the use of Makena over the compounded versions? Finally, having the audacity to give themselves gigantic pay and perk raises at a time the company was terminating loyal and long term employees was not exactly a mark of a competent management team, rather is an indication of a bunch of incompetent greedy bastards looking out for themselves.
 






Anonymous said:
Do you think misunderstanding the exclusivity provisions of the Orphan Drug Act constitutes incompetence?? What about not being able to manufacture the vaginal creams themselves (before having Perrigo do it for them)? What about thinking they could sell off rights to the generic products to Zydus and then sell what Zydus manufactured (this plan didn't work)? Do you think maintaining such a high price for Makena helped improve the use of Makena over the compounded versions? Finally, having the audacity to give themselves gigantic pay and perk raises at a time the company was terminating loyal and long term employees was not exactly a mark of a competent management team, rather is an indication of a bunch of incompetent greedy bastards looking out for themselves.
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AMEN!!!!!
 






Greg and Scott need to make as much as they can, because when this turd of a company gets flushed down the toilet, I doubt anyone will hire them and they will need every penny they have to survive.
 






Anonymous said:
Greg and Scott need to make as much as they can, because when this turd of a company gets flushed down the toilet, I doubt anyone will hire them and they will need every penny they have to survive.
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Greg and Scott sure did make a name for themselves in the industry. Sadly, however, their kind of incompetent, in-your-face management, is valued by other incompetent CEOs. Just like the guy that almost ran HomeDepot into the ground (Nardelli), Scott and Greg will probably prosper after KV. Not fair, but that's the way it is.
 






Anonymous said:
Greg and Scott sure did make a name for themselves in the industry. Sadly, however, their kind of incompetent, in-your-face management, is valued by other incompetent CEOs. Just like the guy that almost ran HomeDepot into the ground (Nardelli), Scott and Greg will probably prosper after KV. Not fair, but that's the way it is.
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Greg and Scott will be lucky to even get a job at McDonalds after this fiasco.
 






If the "Little" white liar can run a company after all the lies and scandal he got away with I am sure Greg and Scott will be just fine. In fact, Mr. Small One may want to wise up and watch himself. Those two may swoop in a take his job away and run things for him. From what I have been told he still can't get it going straight...upwards that is...
 






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