coming B4 year end.
*900 Ion Torrent instruments shipped, what are they smoking?!*
Macquarie Capital has trimmed its second-quarter revenue estimate for Life Technologies, saying that the shortfall is likely to come from the firm's Genetic Systems business.
Macquarie Analyst Jon Groberg said in a research note published today that the bank has lowered its Q2 revenue estimate to $950 million, down $17 million from its previous expectation. Groberg wrote in the note, "we now think that better than expected growth from Ion Torrent will be offset by market share losses in SOLiD."
He estimated that Life Tech will ship close to 900 Ion Torrent instruments this year, but said that he believes the firm's SOLiD platform is losing share to Illumina's HiSeq.
"majority of the company" is feeling same way: true true
"King of Dim" I like that
Foster City is bleeding
Carlbad employees used to have a 24 month espp hold, shows you how much corporate cared for its own, you think they care of new employees thru aquisitions? Ha Ha
" the company is preparing itself to be purchased".
Are you sure about this? Any idea when that could happend?
Hahaha this shit makes me laugh, I said it before, if Life Tech didn't parade such bullshit, they would at least gain some respect of being honest about being a terrible place, honesty engages reality and engages a real discussion in moving forward. None of that with LT.
I think she is gonna cry:
I wonder what Joe has to say THIS year
Probably the biggest internal cancer at LT
Wow, that last post read straight regarding our benefits and all, is like reading the Quest Surveys. Out here in Austin, all one can say is Greg Lucier go F yourself! If this economy picks up, your workforce is outta here!
If you do not work for LIFE, and wondering is it just a few ticked off employees. Nope, is the majority of the company. I have been at some companies during downsizing, bad times, etc, but never seen a company where the employees just hate their CEO so much and HR. It is so bad at LT, that employees aren't even told who their HR reps are anymore. People just don't give a sh*t about this company anymore. Too bad, as we have some great products that could change the world, but the inept moves of the CEO and other execs just make us all want to quit. Christina Amorim, our "green czar" is something else. Like she walked straight out of Stalinist Russia. One mean b*tch that no one under her likes, but a perfect example of why everyone so disatisfied at LT. Ronna Griffin another great example. How can a CEO be so dimwitted, to see these b and a half types, and not realize that people under them are just suffering. Two sour a*sed b*tches. Hey Lucier, would you want to work for them?
Too funny the guy mentioned the Life Show! For those that don't know, the execs at the company, led by Lucifer and the dimwit Leddy, led a spoof on David Letterman, 2 quarters in a row that drove the employees across the company into naseau. It is really bad. But you could tell Lucifer and Leddy sure got a load of themselves.
I am an old time Invitrogen employee now LT, seen the good and the bad, but this is just beyond bad. Our product quality is suffering, top researchers leaving the company in droves. Quality people are looking for the exits. In my daily job, as I do my work, researching, I honestly think to myself, do I want to give my best to this company, or should I hold back a bit as I have resumes out there, and can share my expertise and knowledge with an Illumina, Thermo, Roche or other? As far as giving my best to this company. Take away our health benefits (blame it on the industry), take away our 401k (blame it on crap), take away our ESPP (blame it on crap), pay raises halted, we are preparing to outsource major stuff to China.
Company is going down.
The only good thing, a silver lining on the horizon, is that the company is preparing itself to be purchased. At least that would get rid of the Luciers, Leddy's, Griffins, Amorims, but
If you are thinking about buying this company, realize the talent is jumping ship, or in the process, this company is a paper shell, with puffed up quarterly numbers that every employee wonders where the h*ll they got those numbers from to make the quarter?
If you are a takeover target of LT, or with Ion Torrent or the other poor b*stards that we have taken over. Run! I feel sorry for the Applied Bio folks. They got screwed and lied to. The Biotrove folks, wow 1 year later they are mostly gone.
Illumina sure looks good!
"Most Ivy League and east coast MBA and business programs devalue employees. Why do you think Apple, Google and so many other cool companies and start ups to work for are on the West Coast?"
Why do you keep knocking down on the MBA's? Lifetech's problem is that it has many managers and directors without college degrees. These folks are political animals who advanced their careers not by the merit of their performance but by destroying other people's careers.
These high-school-grad (or phony U. of Pheonix type degree) mgrs/directors are jealous of people with advanced degrees and professional credentials. As a result, many of the bright scientists, engineers, and MBA's have left, especially from the Foster City site. You will probably see many of them ending up at Illumina. Now you know why Illumina owns 2/3 of the sequencing market in just a few short years.
To Greg L and his servile cast of sycophants,
so how's it feel now that LifeLink posts are turning on you? HR must be loving it so much they've stopped replying to the employee's hard-hitting questions...
Greg and sycophants: let's run down that list of "cost saving measures" you all call vision and employees define as GREED, shall we?
1. paygrade reduction: you employee's out there feeling the love? just another in a set of LT's crude death by a thousand employee cuts that leaves you wanting less Greg et al.; btw, thanks Greg for your morale building "and if you don't like it you can leave" words of eye-opening inspiration
2. LifeTech Health Benefits, aka LifeTech Health Disadvantages: let's just say the deductible is "Out of this World", gives me a warm fuzzy, makes me want to give up weekends and nights working for LT, give us another Quest survey right now, I dare ya! believe me when I say your popularity ratings can actually go much lower than 38%
3. transfer of 401k accts from Fidelity to AonHewitt (byu mellon): aka Administrator takeover from hell, oh, excuse me, HR, guess you haven't gotten around to answering the difficult questions on that one yet (single sign-on, that has Risk written all over it), this move says Write Your Resume Now like nothing else, and nothing like springing it and a blackout period at the same time on the employees, thank you very much
4. espp mandatory 1 yr hold on accts; why? because "Life"Tech is all about acquisition bought on the backs of its employees; carlsbad mngmt? feeble-mindedness gone wrong, okay, too kind, more like a den of scum and villainy
the perks you ask?
Let's see, the LIFE show comes to mind, some dim bulb's stomach-turning idea of how LT should run its quarterly meetings; no facts no numbers, just embarrassing jokes by the king of dim, Greg Lucier himself, all wrapped up with audience prompts (unbelievable)
an LT fun time: sitting next to HR staff (in or out of carlsbad) whenever Greg Lucier speaks; watch them twitch when he comes out with yet another bigoted comment, landssakes, someone give the man some pointers, even a link to a Training course
Current 2011 2012 projections under this management:
1. continued layoffs, rising attrition of best brightest hard working diligent creative etc. etc., the fun never stops
2. diving stock prices, uh, board of directors, Hello? Are You Out There??? guess you can always Fire GL but hell, that's probably what he's counting on, aren't we all?
3. screwed customers, because at LT Quality is getting driven down down the faster faster you go/the more corners you cut, didn't anyone ever teach you that GL?
too much to say, so little time
To the "Wizard of Ooze" and his applauding yes men and women, some day you will find yourselves - and wish you hadn't.
So, are the 3 assistants cute chicks? and the jet runs on propane?
Do you know anything about Apple and Google or are you just idealizing your idols? I can tell you Apple regards its employees as galley slaves. Salaries are high but that is just because that's where the market price went during the silicon valley bubble days not because of any beneficence (at least since Wozniak). But in turn, they do think they own you 7/24 and your performance ratings will suffer if you, say, try to spend even a little time with your family. They haven't had a lot of major M&A, doubtless because no one else is good enough for them, but I wouldn't predict they would synerginze with any particular character and class.
Google also thinks they own your life and also has a strong culture of judgemental assessment of who is good enough to belong there. Otherwise I know less about them, including how they managed "synergy" during their significant acquisitions. But on the other hand, their growth has been monotonic since the beginning, accruing money faster and more exponentially than a black hole accrues matter (no small irony there - though Invitrogen is still the best example of "nothing" having infinite power to consume and annihilate genuine substance). The global economy not being infinite, that Ponzi well has to dry up some day and we'll see what Google does to its people when revenues and investment resources begin to steady state - or even fall.
Most Ivy League and east coast MBA and business programs devalue employees. Why do you think Apple, Google and so many other cool companies and start ups to work for are on the West Coast?
How many machines and consumables does LT have to sell to make back the $700M + R&D + Marketing + training + manufacturing + etc and then turn a profit? They need to make the PGM fall apart after 10 uses, like a disposable camera.
C'mon GL, buy something else now and dilute LT even further. It will be hard to sell PGMs when the support staff is all in India and China. Oh wait, forget the US market, cheap crap sells better overseas. Package the PGM with unfiltered cigarettes.
Love, greed, work and hate are larger than humanity for GL. This company is now just Ion Torrent, that is going well, the rest has been totally decimated. Biggest problem is the resources thrown at IT, the 700M price tag versus a 65K machine, the displacement of a 650K machine (solid) by a 69$ chip... As much as Lucier wants, the world isn't flying in private jet with 3 assistant and staff to shed. The world is more human and slower than his business model.
Human capital is expendable under the Harvard business model. The model has no soul.
More layoffs are coming. Hang tide.
Lots of changes in the benefits AGAIN!
What really baffles is that LIFE originally knew that one of solid's weak point was emulsion prep bottlenecks...then they go and buy ion-torrent.
"there's actually nothing wrong with emulsion. Get over it. That argument was over years ago. It's just public perception."
Yes, it's just public perception. Stupid lab customers who actually use it - do they really think they have a right to an opinion? All you have to do is get buyers to ignore them, then everything will be all right. Perception is reality.
Emulsion prep just takes longer and is more complicated. Nothing wrong with it and it works just fine in trained hands. The only problem is support and getting the method out into the field. Ask an Illumina FAS and a 454 FAS who has more post-library creation workflow headaches. The main posts I see on 454 and SOLiD related forums is emulsion stability, bead counting, titrations, etc. All related to emulsions. If IT wants to be the universal personal sequencer, they need a more user friendly prep. Let us hope the one touch lives up to the hype, the machine it supports has yet to.
Sure, if you're not the one who has to do it. I have yet to read a positive comment about emulsion based prep.
there's actually nothing wrong with emulsion. Get over it. That argument was over years ago. It's just public perception.
"So can we finally acknowledge that this thread has become a debate between sales reps about who's machine is The fanciest?"
No as there is often a few higher level nuggets in there from some reasonably well connected individuals. Sales rep trash talk is just that. Like painting s**t on a wall, you can smell it a mile off.
So can we finally acknowledge that this thread has become a debate between sales reps about who's machine is The fanciest?
Emulsion = Death.
Exactly. Yes, you might save some money with Ion Torrent on the consumables end, but factor in the cost of labor and risk of making mistakes, and MiSeq comes out ahead.
Until Life releases a product which bypasses emulsions, the data will continue to be rubbish and the customer will continue to get screwed over.
Anyone still bullish on Ion Torrent has never done an emulsion PCR. How'd the EZbead work out for SOLiD customers? Anyone have a One Touch yet?
Emulsion = death. Here is a workflow comparison--
1. Make Library, quantitate. The same for both suppliers.
2. (Ion Torrent) Make emulsion, cycle, break, enrich, count beads. For at least 8 hours. 5 of which is hands on time that is very sensitive to cross contamination.
2. (MiSeq) Denature library (10 minutes), squirt into MiSeq. Go away. Want more of the same kind of data? Send library to a HiSeq service lab.
Lucier's last stand. Rothberg's last laugh.
That's fine and dandy but your boss has been saying every single MD lab should have one and every rep should get a Rolex (before getting fired). That leaves a lot of customers in the dust already and you want to double that install rate ? We both know this is your last chip update, you saturated. Your salvation will be in read length. When you get there I will be the first to hail you, but I know more than you think and I have seen life screw up products like no company can. In fact, just wait until it goes china on you, hahaha. Best thing gl did was to isolate the group from all the brown noser but that shouldn't last to long. Good luck while Miseq just blast past you. Your stock is flat and we know why, even if it explodes you are doomed to zero cost sequencing anyways faster better cheaper goes directly to one point:zero. That's the point where complete comes in. You are totally out of that market now. A good ol Hiseq did much better on e coli btw.
if you think NGS library prep is hard now, you shouldn't have a NGS. It's kitted to be so simple that techs can do it. Nextera is not a one stop shop like everyone thinks. If you don't know what you are doing, Nextera will fail just as much.
library prep is still not simple at all, many labs not sure what to do. I know diag labs that just got into a real mess. Plus if SOLID goes down, do you think 60K a pop and lower consumables is gonna help... I see only one direction, penny stock my friend. And the world isn't all rosier for anyone out there anyways. Life just gambled too much on the credit card.
Everyone is beating advertised spec, updates will come frequently, Ion Torrent is already in the position to be the major next-gen instrument used. Everything is great, no worries about the MiSeq or 1000 bp 454 Jr upgrade, the PGM will best them all and keep improving. Life Tech has the desktop sequencer market covered. Add multiple PGMs to a lab and they are much better than a HiSeq. I don't see why people here are complaining about IT, etc. $700M to regain next-gen from Illumina is looking to be the savior of Life Tech. GL did a great job there. Whiners should all go work at PacBio, that product is a mess.
But is Life Tech quick enough and smart enough to leverage the full potential of Ion Torrent while it is still a viable platform? Perhaps Ion would have done better solo or bought by another company that is better managed. Ion Torrent does need to step up to the bold claims, I have yet to see any of the "placed more than any other next-gen sequencer" produce the promised data in a small user lab's hands. Most would rather have a SOLiD than a PGM, that says a lot right there. Maybe GL can pull up his short pants and make it a valuable product. They can't rest though, other companies are working to keep smacking Life Tech down.
Bah! The sky is the limit for Ion. The platform itself is very flexible and there are a few tricks up the sleeve to further improve read length. Miseq my a$$.
Ion Torrent going really well ? It did sell, now it will go flat and very soon it will go second to Miseq. The issue was the lack of preparedness at Life. Also, Ion Torrent and Life are still two very distinct group. The real miserable lads, and there are tons of them are within the other divisions. Although of you are asked to sell a Solid, your faith is as good as a 454 rep.
The big issue is how much JR screwed GL over and what a bad job GL is doing at making all sorts of really bad promises on the system. That was 700 million by the way....
What narcotics are you on? or are you management or HR. Any which way you are not on this slice of reality.
At least Ion Torrent is going really well, Life Tech at least was brilliant enough to pony up big cash for it. SOLiD has been long dead. We are all very happy to focus on it for the future.
thank god for removing two disastrous buffoon up north, the scorching earth approach totally backfired before the whole place went up in flames.
I love the smell of napalm in the morning, smell, smell that son !
Just so that you all know, the situation is not much better over here in singapore. Many good and experienced people are leaving in droves.
Yes the Chinese outsourcing will be massive and no one understands how you can have a conference call between China Singapore and Carlsbad are supposed to happen (both for schedule and language). GL really thinks this is a GAP jeans factory.
They also moved a few losers around, wasn't bad enough they didn't get ride of these fake lack luster butt sucking losers. They had to move them to global account management, are we now the new dumpster of the company ? The previous title held by marketing before it also crashed. It's mind boggling to see how easy some of these issues can be fixed but a few cents gained on paper is never calculated on the real HR cost in the field. Idiots.
Just caught your message before going to bed. Yes, as you could see from my listing, down here in Carlsbad, even those of us that have been here for a very long time, are getting tired. Upper managers, middle, employees. I am sure what you hear in the men's washroom up in Eugene just as much grumbling as the women's LOL down here. Show me the exit, it is time to bail from this place. We are all worn out, no benefits, and the way the company is going, who knows if there will even be a bonus for us next year. Perhaps we can all get jobs at Illumina LOL.
So sounds like from your post, the peeps where you are in Carlsbad are as fed up as us up here in Eugene. So more layoffs, great. They sure value us. And so you know, the men's bathroom has the same grumblings as what you here in the women's washroom down there in Carlsbad.
Life Technologies from Finance Director's view. The company is the most horrid place in the world to work. Period! Scientist, Operations, Finance, etc. The employees had their healthcare not just downgraded, but moved to lower than that of MacDonald's workers. (no offense to fast food workers!). 401k some odd moves that are yet to play out. When I am in the women's washroom talk is always of how much the company just sucks.
How has Life Tech done with all of its mergers? Horrible! Look on different websites, Glassdoor.com and other. Most employees are miserable at this company. Our 5500 SOLID is getting the stuffing beat out of it by Illumina. We know our product is more expensive, slower, and late to market compared to our competitors. ION Torrent. Those poor b*stards! If you work at Ion Torrent and you have talent, run....our ship is sinking, save yourself!
Why they keep the head of benefits, after two boneheaded moves is beyond us. Hey Lucier, listen up, give up some of your salary to improve our benefits (highest paid CEO in San Diego), so you can keep some of us that helped you get than D*mn salary! Also, outsource your benefits department, starting with Paloucci!!!! Oh and use some of your salary for some platform shoes! Never worked at a company, where I am afraid to get sick, because not sure the benefits cover me.
The CEO does not give a d*mn about us. He consistently ignores employee complaints, not just in a minor way, but to where our internal "happiness" scores show an entire company looking to run out the door. Here where I work in Carlsbad, and have been here for a number of years, only the Greg Lucier Synchophants are left as pro company fools, telling him what he wants to hear. At least they are finally taking my recommendation to get rid of Foster City employees due to their higher salaries! Only, those jobs aren't coming here to Carlsbad, they are going to China!
So wait til our employees find out what our Execs have been working madly at! That is right, major China outsourcing. Our midget CEO like a dummy tried to sell it as a good thing at our last company-wide meeting, "we are going to China to develop a presence", only he left out the part, that everyone knows we are working on, that is to ignore US employee gripes and eliminate the jobs for China, as Chinese won't complain about benefits, pay, treatment. The huge layoffs, with jobs replaced in China will start in the 3rd quarter, that's a promise. Expect Life Tech technical know how to go out the window, when the Chinese are tasked with doing our Research and Development.
In the meant time we sell ourselves to government customers as a US company, full well knowing we are outsourcing the whole dang thing to China.
Lucier or as we call him internally Lucifer, needs to go! Of course he will take many of us, hard working companies that with us in favor of Chinese jobs. How he ended up being paid as the highest CEO in San Diego is just a wonder.
The best thing about being at Life Tech, is knowing that when Lucifer is forced out, it gives us a glow to know he will have millions of dollars to take with him and his golden parachute.
Hard to do any real science on a SOLiD anyway....
How late is it?
My SOLiD has yet to arrive... hard to make money off reagents when you can't even deliver a product.
And we all know that they cut a bunch of low level sales people last month.
yes, something is going to happen this month.
I won the lottery today.
of course there is going to be a shake-up, sales are in the toilet. My guess is they "lean" the sales force out and have slight reductions at the plants. I would expect a couple of top sales managers/VP's to walk as well.
You know, the upper management sure take a long time to wake up and remove a few bad apples. They finally reversed what they should have never executed. I guess I can say thank you for removing a psycho boss, they should have never been there in the first place, never. That's one less masquerade to deal with and one step towards normal, ethical, respectful environment. There is still some work to be done.
I'm being bombasted on my linkedin. It's like pulling survivors out of the water.
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