coming B4 year end.
Market cap is now the same for LIFE and for Illumina... $8.6B
Did this happen before? Ever?
Heres my guess on future.
Whatever is left in FC moves to Austin/Pleasanton
Manufacturing in Scotland goes to GI
Primer manufacturing consolidates in China or India
One of the medium sites consolidates to Frederick
"None of the bean counters and the MBAs look at that because they have no leadership to feel that."
Just because GL is a Harvard MBA does not mean all MBA's are bad. For every GL, there are probably 10 other Harvard MBA's out there creating good share holder value.
ABI used to have many MBA's and PhD's. LT came in and forced out most of these people in an effort to cut cost. Well, good people don't come cheap. Majority of what is left at LT are a bunch of lowly educated, butt kissing political animals who have no technological know-how and business skills to run the company at all levels. The results are predictable.
Hey Greg... You know what? Maybe Life Technologies isn't the right place for you! I think it's time you moved on and let the grownups take over if there any left. I can't believe MS has sat there and watched this train wreck unfold without doing something to stop it or leaving... just as culpable now, oh well. After one episode of "The Life Show", there should have been men with straight jackets waiting. Anyone have TW's phone number? FC site is gone within a year IMHO. Put on your life jackets and Man the life boats... In case of water landing, the PGM you are sitting on cannot be used as a Life perserver, as it is not buoyant. Last one to leave, please turn out the lights in keeping with the green policy.
Let see GL's excuses:
1. Revenue growth was lower than expected due to reduced spending by academic and government-funded researchers who make up a good portion of our Americas and EMEA client base;
Is that the real reason?
2. The lingering effects of the earthquake in Japan impacted delivery of 5500 SOLiD; and
Does it impact indeed??
3. Our business in China was temporarily disrupted as we moved to supplement our dealer network with more direct sales supports and build out other aspects of our business.
Is that the correct strategy???
This company is about constant destruction. I just can't really compute how badly they are managed. Looks like legal is going down the drain too. Every time there is a reduction there is a huge knowledge and legacy loss. None of the bean counters and the MBAs look at that because they have no leadership to feel that.
In China, the most rapidest growth market in the world, LIFE is getting worse. They don't understand China business and don't believe their employees...
It doesn't matter that BB is rich or poor. He is still the biggest AO I ever met. No money can rescue such a poor soul.
Peter Leddy, Ph.D., Senior Vice President of Global Human Resources at Life Technologies, Named to the Board of Directors of NuVasive, Inc.
CARLSBAD, Calif. – July 28, 2011 – Life Technologies Corporation today announced that Peter Leddy, Ph.D., its Senior Vice President of Global Human Resources, has been named to the Board of Directors of NuVasive, Inc., a medical device company focused on developing products for minimally disruptive surgical treatments for the spine.
“Dr. Leddy brings extensive knowledge as a dynamic thought leader creating ground-breaking human resource practices,” said Alex Lukianov, Chairman and Chief Executive Officer of NuVasive. “His experience building Life Technologies’ culture of innovation is an asset that will add depth to the expertise of our Board as we drive toward our next milestone of becoming a $1 billion revenue company.”
Yes, Bernd Brust is no longer at LIFE. Add him to the list of senior executives who have been shown the door in the past two months: Kip Miller (President Genetic Systems), Claude Benchimol (SVP of R&D), and now Bernd Brust (President Molecular Medicine - previously President Commercial Operations)
A great way to control your costs - fire the expensive ones. Brust's salary in 2010 was $548K. Total compensation for Brust in 2010 was $3.5M. I'm guessing he isn't too concerned about his next job!
What was the last post? Anyone care to run it back up the old flagpole?
wow, that last post disappeared real fast... too much truth to the rumor?
It goes on?
The statement is very clear, a message has been sent and in this case, a clear move might actually be publicized. The market will expect some drastic shit again.
Maybe he can get ride of himself, the actually company might be better off headless, that's how useless this man is.
Is BB really gone...
Questions are which sites will be affected. "Much leaner" means keeping the worker bees? and get rid of the bs managers?
Layoffs are coming....doubtful any of the deadwood Sr. Management will be axed. Pretty bold statement by CEO.
"Our second quarter results were lower than anticipated." said Gregory T. Lucier, Chairman and Chief Executive Officer of Life Technologies. "To offset the pressures on life science industry funding, which we expect to continue for the remainder of the year, we are accelerating a number of cost savings initiatives which will create a much leaner organization by the end of 2011."
The world revolves around CA and thegigantic egos of their senior management. Where ever the Bioproduction unit is based, you will be assimilated, resistance is futile
I used to work for LT in the bio production division (Gibco brand). And my experience there was great. Great managers in that division, we had great growth. Seems like no one here talks about that part of Life's business. Everybody is focused on businesses based out of Carlsbad and thats may be because that is the only business where LTs management is spending resources.
LIFE is now 8B company! 1.5B wipe out in a few days. Thanks GL.
No recruitment no travel no expenses Q3/4 is sure going to be fun. Wholl be left for the layoffs
Is lean another word for terminal decline
Why the LIFE board still let Greig Lucier stay here? It looks like GL=Board.
worse than that - stock down 15% in a month. glad for the expertise from senior management. sure worth their large compensation. NOT!
BB is gone ? That guy should never find a job ever again. How he got there just boggles the mind. Good luck spending quality time with your ugly eurotrash bimbo.
Wow, stock down 7% just today. Glad they're doing a stock buy back. Probably the only way to shore up the price. They should have performed better in 1H01 given the healthcare cost shifting to the employees.
Amen to this post. So sad to see the legacy companies driven into the ground. Performance stinks, savings off the backs of the workers and mistreating customers. Lots of excuses...so glad to be out of there!
True, LIFE re-org, re-align every other months. I guess that is Just in time planning.!!! LIFE has way to many executives to count. Why don't you lean out your execs (Jr. VPs, VPs, Sr. VPs, Chiefs..etc) , GL?
Yea, leaner- cut off the legs, remain top-heavy. "Lean" with no muscle makes for wimpy performance. Where's the muscle in LT org now, and more importantly, where is the coordinated action? This is a spastic org., that tremors every 3 months with re-orgs that re-visit old structures. Can't imagine anyone with management experience here is going to be respected in the business world.
"...will create a much leaner organization by the end of 2011."
GL, you've been working on creating a leaner organization for 8 years. Any clue when you'll be done? Because whatever you're doing, it doesn't seem to be working.
Re: flow. Looks like Life Tech's attempt to grow 'organically' has failed. Internal development completely undersourced, micro-managed from the top down. Looks like they should have bought the Accuri, and really given BD a run for their money. Further evidence that acquiring 'novel' technology still under development not a good strategy for Life Tech. They need to buy profitable companies and then leave them alone.
I hear Bernd has left to "spend more time with his family." If true, that's funny!!!
Yup!! Massive Layoffs. Glad I left that hell hole.
And look at the markets.
That 40$ line is soooooo close!
Holy shit, if they are at 3% now and barely keeping above water. If they keep supporting the 5500 which will not sell at all, 50K machine will not fill that gap, the labs have all received the sales pitch, the rest of the fish are not hungry... There will be massive layoffs. That JR boat is just ridiculous, like some kind of New Yark Taj Mayal... come on, that's just tasteless and obscene, the sure sing of someone who doesn't get it. -10% in aftermarket...
¨We expect our growth in the region to return to historic levels over the next several quarters."
"we are accelerating a number of cost savings initiatives which will create a much leaner organization by the end of 2011." This statement was in the earning report released this morning. I guess that mean layoffs.
A new lay off wave will come to LIFE before Q4
sweet ride. He should be able to afford to buy a real winery now, his sucks.
for a better view, the closest you'll ever get to it...
Haha suckers, LT paid for the Superyacht Gene Machine. Who cares if LT stock dies, the rich still get richer. LT can just lay off more people to help pay for crap like this.
it bombed. Was held up as the the next new mousetrap just as the mice left!
so what's going on with the flow side of Life....word in the flow world, the technology did not disrupt cytometry..are they even selling the product? better yet, is anyone buying the product? Probably not!
Down again today on high volume, what gives?
And look at how the street has reacted to the good news from Illumina. We'll see tomorrow. LIFE clearly has a buffer of tens of thousands of other products outside next-gen sequencing, but it's hard to believe that Sigma and Thermo aren't generating their increases off the back of LIFE's overpriced commodity products.
Illumina's Q2 Revenues Rise 36 Percent
NEW YORK (GenomeWeb News) – Illumina reported after the close of the market Tuesday that its second-quarter revenues increased 36 percent year over year, as the firm beat Wall Street estimates on both the top and bottom line.
The San Diego-based firm reported total revenues of $287.5 million for the three months ended July 3, compared to $212 million for Q2 2010. Its product revenues were $269.9 million, up from $198.5 million year over year, and its service and other revenue was $17.6 million versus $13.5 million.
Illumina beat analysts' consensus estimate for revenues of $281.6 million.
"Revenue growth was driven by strong demand for our sequencing products and overall improvement in our array business," Christian Henry, Illumina's CFO and GM of the Life Sciences Business unit, said during a conference call following the release of the results.
This is how customer perceive LT at their best:
Someone at Nature need to do some explaining
Greig Lucier has been proved to have no ability to manage a long-term business. He has almost failed some years ago. This day will eventually come. He's full of conceit.
"Probably on the assumption that LIFE's Q2 will be more ugly than ILMN's Q2..."
No kidding. Folks are holding off any new purchases to wait for the MiSeq. By introducing the PGM, Life drags both ILMN and Life down to the mud. It just cannibalizes the whole market. They should have hold off the introduction of this $1000 genome machines and milked the market for all they could. Too bad. It's just Intel and AMD. No one gives a shit on how fast and powerful their new processors are because the hardware has been just way to fast than the software.
"we not only see the SOLiD platform expanding to 10 fold more throughput per dollar (every six months), we have another program in place to deliver 2-5Kb reads from real time single molecule sequencers."
This is almost two years old, sound familiar? How did it turn out for both SOLiD and Starlight? Both dead or dying and Illumina looking even better than before. Sigh.
The point is to alert boat owners who are looking to purchase an anchor to contact Sanger Centre immediately.
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