Well, here we go again. We are going to start a new narrative cycle with the street based on a magical restructure. Excom is counting on this holding up the stock and holding up hope for improved performance - "we just need to make these changes first and we will be poised for massive growth over the next 5 years". This will largely be a cost reduction exercise and will set the table for massive off-shoring of jobs over the next 5 years. I'm sure the narrative will be around increased investment in R&D. Just a reminder - that was the narrative when HQ was moved to Dublin. It didn't happen. Any increase in the R&D line was an illusion. Incremental dollars never actually made it to organic Technology or Development. It actually went down over time. But don'w worry, Excom and Sr leadership will make a fortune.
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$100k plus You can find their tax return online.
@rn Innovation is whatever leadership says it is! Did you see we made the top 100 most innovative companies? You have to wonder how much they paid for that.
I just watched the new youtube video about Earl's 100 year plan and they are talking about innovation!
Except the products mentioned are 10-20 years old
PillCam - FDA approved in 2004, acquired in 2014
Micra pacemaker - FDA approved 2016 (clinical trial started 2013)
Certainly, there is some iterative improvement in those products.
But that's not Innovation.
They are still there to keep milking the company dry. The board is in on this as well. They don’t care if the Medtronic goes into the dump as long as they collect their millions of dollars.
HEADWINDS
@fc that was always true. An uneducated guess, What’s changing is rigor and details how that implemented.
Unbelievable that GM and his minions get to keep their jobs with such consistently incompetent decision making. The rent seeking board is NOT doing their one job despite activist involvement. They are destroying this company more and more each day. Tragic to witness.
If you've ever watched the sit com Abbott Elementary, the side-hustling, attention-seeking principal of the school refers to the teachers as 'dorks'. At Medtronic the dorks are all the engineers, scientists and other technical SMEs who try to make a difference despite the skullduggery of upper management.
Not sure if this is true, but a new product must have a ROI in the millions. Or its tabled forever.
This is what you get when you don’t have true leadership….just layers of mediocre management reshuffling the deck chairs on the Titanic. Everyone to the lifeboats!
Nuclear Engineering
@ay did I miss something? Jim Peichel has a BS in computer science according to his LinkedIn.
With our new CTO holding a BA in liberal arts and boot licking, we’re designed to Engineering the Ordinary.
@ap I think we are all salty because we are fed a constant stream of BS, and that has a lot of salt in it...
We're all salty because we are at the bottom of this pyramid scheme.
Words were always cheap at Medtronic.
A tea party without any actual tea is a sad