Tags |
|
|
Links |
|
|
Main Subject - Kmart's Conaway and McDonald Face SEC Charges
In only a few weeks, Chuck Conaway went from relief to indicted. Last month Conaway had been absolved of bad management by a panel of judges. However Federal securities regulators have now charged Conaway and former chief financial officer, John Mc
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
Donald, of financial fraud.
The regulators claim the pair misled investors about the company’s financial condition in the months leading up to the bankruptcy.
In the months prior to the bankruptcy, Conaway and McDonald were steadfast in their cla
The regulators claim the pair misled investors about the company’s financial condition in the months leading up to the bankruptcy.
In the months prior to the bankruptcy, Conaway and McDonald were steadfast in their cla
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
im that the company was financially sound. In addition to weekly reassurances delivered by voice mail to all employees, the company provided misinformation to the vendor base and stake-holders.
The SEC charges are specific to the financial report i
The SEC charges are specific to the financial report i
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ssued for the third quarter and nine months ended Oct. 31, 2001. This was the last financial report issued prior to the company's bankruptcy filing.
The SEC charges were a confirmation to the stake-holders who pension plans and careers and to vend
The SEC charges were a confirmation to the stake-holders who pension plans and careers and to vend
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
ors that settled for pennies on the dollar, causing some of the vendors to file bankruptcy themselves.
Even before the third quarter results were released, employees and stake-holders were questioning the stability of the company. Both Conaway and
Even before the third quarter results were released, employees and stake-holders were questioning the stability of the company. Both Conaway and
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
McDonald were aware of those accusations. They either failed to investigate them or they outright lied about them.
Without making judgment as to which of the two choices is correct, let's assume they failed to investigate. One of the traits of a
Without making judgment as to which of the two choices is correct, let's assume they failed to investigate. One of the traits of a
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
high-performance leader is to listen to the concerns of employees and suppliers, using a fair dose of empathy. The leader able to empathize with stake-holders has a competitive advantage as they pick up on trends very early. In the case of Conawa
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
and McDonald, the stake-holders were saying, "We are seeing things that are causing great concern." By checking into the rumors and gossip empathetically, the two leaders would have found deep problems needing swift and decisive attention.
Today,
Today,
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
organizations are turning to executive coaches to assist their leaders in the pursuit of high performance leadership. At MaxImpact, a Rochester Hills, Michigan, based leadership development company coaching is offered through a unique Catapult prog
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
ram. MaxImpact's executive coaches use assessments to determine the personality, cognitive traits, and motivation of an individual. This information is supplied to the coach so a
completely personalized program is possible. The coach works with
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
the executive on a weekly, bi-weekly, or monthly basis, either in person or over the phone.
Here are some of the successes from coaching:
= Larry was dejected and ready to chuck it all. Once the best salesperson at his company, he was extremely f
Here are some of the successes from coaching:
= Larry was dejected and ready to chuck it all. Once the best salesperson at his company, he was extremely f
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
rustrated as the new Vice-President of Sales. Ready to go back to his old job,
his wife learned of Catapult's 1:1 coaching program. She encouraged him to get started on the program and his follow-through was remarkable. In just a few sessions La
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
rry's demeanor had changed as he regained the desire to make his business successful. Six months later he graduated from the program and his department had a double digit sales increase, almost reaching his capacity. Larry says the fire is back in
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
his belly and he "looks forward to work everyday".
= Tobi was having trouble hitting the goals for her business. Although drained of capital and energy, she never stopped believing she could be a success. As her dreams were fading behind the nee
= Tobi was having trouble hitting the goals for her business. Although drained of capital and energy, she never stopped believing she could be a success. As her dreams were fading behind the nee
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
for cash, she took a step of faith and began Catapult. Within two sessions she identified a way to find short-term business sufficient to fund her through a long sales cycle. Today Polly is consistently meeting her goals, which have been realigne
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
d to take advantage of her new skills and determination.
= Marc was disappointed that he had lost some of the big accounts that had accounted for his early success. He realized he needed to refocus his business and rekindle the fuel that had made
= Marc was disappointed that he had lost some of the big accounts that had accounted for his early success. He realized he needed to refocus his business and rekindle the fuel that had made
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
him a success. By understanding his motivators and abilities he developed a new business plan. Using his talents and energy, Frank's business goals are now being exceeded every way.
= Andy's business was okay, but that big account seemed to be elu
= Andy's business was okay, but that big account seemed to be elu
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ding him constantly. In only took a couple of Catapult sessions to give Andy the understanding of himself and the business skills to land a huge contract.
= Gary struggled to get his team to share the vision he had for the company. His tight prof
= Gary struggled to get his team to share the vision he had for the company. His tight prof
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
it margins prevented him from hiring services, such as maintenance. This frustrated him even
more as he couldn't even get his team to take out the trash. During his coaching Frank learned how to draw talent out of his team. Although he still doe
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
sn't have maintenance service, after his first two weeks of Catapult Frank has never had to take out the trash again!
For more information about the Catapult coaching program, contact MaxImpact at 248-802-6138 or via email to info@getmaximpact.com
For more information about the Catapult coaching program, contact MaxImpact at 248-802-6138 or via email to info@getmaximpact.com
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.mainsubjects.org.ua/article/19018/mainsubjects-Kmarts-Conaway-and-McDonald-Face-SEC-Charges.html">Kmart's Conaway and McDonald Face SEC Charges</a>
BB link (for phorums):
[url=http://www.mainsubjects.org.ua/article/19018/mainsubjects-Kmarts-Conaway-and-McDonald-Face-SEC-Charges.html]Kmart's Conaway and McDonald Face SEC Charges[/url]
Related Articles:
A Part Of The Public Proxy Servers
Job Interview Technique - 6 Tips To Get Yours Up To Scratch
Change Your Career and Change Your Life By Starting Your Own Business
Bookmark it:
|