Well, well, well...quite a stir has been caused by my euphoria over madam CFO's departure. To answer each in order:
From: Joe Dancy Friday, Apr 10 1998 8:01AM ET
Tim - I have no opinion on Anderson, but why do you say she lacked competence? Just curious, have not heard or seen that written before. You can private e-mail me if you would rather not post. Just trying to put all the parts together here to figure out where we are at :).
Refer to my posts in 1996&7. I have been in BioSource for 3 years. Four major reasons for my statements: #1. I was at the last two shareholder meetings. She was not impressive at either. The CEO had to handle questions she should have been able to deal with. #2. When I asked why they have not been hedging the currency in Europe to prevent bottom line deterioration, the answer in short was "it was too complicated." #3 BioSource inventories have been out of control for some time. Clearly she should have put some controls in a long time ago. #4 Poor investor relations. I do not see much in the way of a push to woo investors --especially institutional.
From: jonathan A. Conte Friday, Apr 10 1998 8:58AM ET
Does the CFO really have that much to do with things like flat sales?
Jon
No...Top line is a problem for others in the organization. I am not blaming her for this problem. I am a hard core OPS guy though, so I am very critical of how the operations are handled. The CFO has been a clear weak link for some time.
From: Steve Lokness Friday, Apr 10 1998 9:13PM ET
Tim;
Do you really know this company so well you understand the CFO? If so could you please post so the rest of us can also be enlightened. I have followed and owned this company for a long time and agree that it would be nice to see a move, so if there is valid reasons for thinking things will change please let us know.
I do not personally know the CFO. As I have stated above, I am a hard core operations guy. I know how OPS and finance can impact the bottom line. As a global player, BioSource needs to be sensitive to world markets, currency, costs, overhead, etc., etc. This CFO has been virtually non-existent. I can only hope the new guy will bring more global knowledge with him. Believe me, I am on the phone to get his credentials ASAP. If he is just a "me too" guy I am gone.
This company has potential, but they need the right people in ALL positions to get us rich. This could be the break we have needed. Even though the biotechs have been beaten down for the last couple of years, BIOI is much worse off than most. Why? They have a great scientific team, they have great products, they have global exposure, they have lots of potential. They just need the right team to take them to the next level. I am now very bullish on BIOI.
best,
Tim |
