Medical Forum / General / Dentistry / September 2005
Patterson Dental: Defrauding Investors?
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Flap - 12 Aug 2005 22:30 GMT Flap wonders: http://flapsblog.com/?p=753
Joel344 - 13 Aug 2005 00:16 GMT Very interesting article ...... here is some window dressing linked from Flap's article .....
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[image: http://img3.imageshack.us/img3/6209/cerec3dweb2nk.jpg]
.
or
LINK:
http://img3.imageshack.us/img3/6209/cerec3dweb2nk.jpg
 Signature Joel344
shad j lewis - 13 Aug 2005 00:20 GMT I put this elsewhere, too. See it if stays. ;-)
Flap - 13 Aug 2005 01:00 GMT Doutful..... the Dental Town Police do not allow any criticism of Patterson or other advertisers.
Most of the Admins and Moderators over there are company HO's .....i.e. receive free trips and sponsorship money.
Go ahead ask them to disclose and see how far it gets you.
shad j lewis - 13 Aug 2005 01:19 GMT It's not criticism, it's just fact. I didn't write the article. I just posted it. I wonder what the settlement will be if any, and if so, how much the cerec will go up.
Flap - 13 Aug 2005 01:54 GMT I see the Amen crowd have already responded at Dental Town.
It is not good to have one of these lawsuits filed against your company.
It increases the interest of the SEC for one thing.
StovePipe - 13 Aug 2005 22:03 GMT > I see the Amen crowd have already responded at Dental Town. > > It is not good to have one of these lawsuits filed against your > company. > > It increases the interest of the SEC for one thing. Is Patterson a public company? Which exchange? Thanks SP
 Signature Finally: take out the TRASHH
Joel344 - 13 Aug 2005 23:25 GMT Nasdaq.
.
StovePipe Wrote:
> wrote: > [quoted text clipped - 3 lines] > -- > Finally: take out the TRASH -- Joel34
StovePipe - 14 Aug 2005 00:31 GMT > Nasdaq. OK, Thanks JME.
BTW: how much damage did your house finally suffer in that flooding that happened last year? Cheers SP
 Signature Finally: take out the TRASHH
Joel344 - 14 Aug 2005 01:48 GMT No phone for a month ....... there are lots of old wires running through these houses .....
 Signature Joel344
cerec - 14 Aug 2005 02:29 GMT How can the stock be going higher. Everyone I talk with says they don' do business with Patterson anymore. Most dentists don't welcome th CEREC technology (except a small minority, not growing fast). Mos supply companies beat their prices and offer the same service.
I always wondered how Schien and Patterson get away with the monopilie they are creating. Controlling technology and buying competition
-- cere
StovePipe - 14 Aug 2005 03:15 GMT > How can the stock be going higher. Everyone I talk with says they don't > do business with Patterson anymore. Most dentists don't welcome the > CEREC technology (except a small minority, not growing fast). Perhaps, but those who do seem to have smiles on their faces.
>Most supply companies beat their prices and offer the same service. As long as they have what you need in stock, yes.
> I always wondered how Schien and Patterson get away with the monopilies > they are creating. Controlling technology and buying competition. They learned that from Wild Bill Gates and Greedy Steve Jobs, IMO.
Cheers SP
 Signature Finally: take out the TRASHH
billkatz - 14 Aug 2005 16:26 GMT No way that Patterson will go broke over this. They're just too big and have too much following. AFAIK, the pleadings imply that PDCO issued some very unrealistic forward looking statements. Shortly before the earnings reports were to be released, several of the major players dumped 44 million in stock. Then came the "earnings surprise".
They're accused of pulling a "Martha"...
StovePipe - 14 Aug 2005 17:44 GMT > No way that Patterson will go broke over this. They're just too big and > have too much following. AFAIK, the pleadings imply that PDCO issued [quoted text clipped - 3 lines] > > They're accused of pulling a "Martha"... Good description SP
 Signature Finally: take out the TRASHH
billkatz - 16 Aug 2005 02:16 GMT Doesn't make the crime any less severe... Although... Ankle bracelets do come in matching decorator colors now. :P
I feel sorry for the investors; if this is true.
shad j lewis - 16 Aug 2005 02:33 GMT Investors in cerec? Or stock? ;-)
Sue - 19 Aug 2005 21:22 GMT You guys don't realize how many lawsuits are brought out against dee pockets. All Patterson did was not meet their projected forecasts.
Any time we miss our projected forecast for the quarter by even 0.5% our stock drops like a rock. Do stock holders care? Yes! Do we care Yes
Patterson did not purposely try to defraud anyone. That would be plai STUPID and SUICIDE for an established company. This was not lon standing accounting frauds like the "Enrons" you have read about
I think you are misreading this whole situation.
I honestly think you are a bit biased (just as bad as DT), just becuas yo are so hoping to see Patterson fail or to be "the bad guy.
My honest 2 cents
Su P.S. If they settle.. which they will likely do just to get th lawyers off their backs...they are still labeled the bad guys. It is s stupid. The company will throw out a huge chunk of change, the laywer make out and the stock holders get a modest amount. All this jus because of "poor" planning
-- Su
Joel344 - 20 Aug 2005 01:46 GMT We must wait and see. If all's they did was miss projections there is n crime in that. If they were doing a project for a course they wer taking, "Book Cooking 101 For Corporate Executives," then there is problem!
Joel
**
A class action lawsuit was filed in the United States District Cour for the District of Minnesota, on behalf of purchasers of Patterso Companies, Inc. (NASDAQ: PDCO) publicly traded securities during th period between February 24, 2005 and May 25, 2005, inclusive (th “Class Periodâ€).
**
Sue Wrote:
> You guys don't realize how many lawsuits are brought out against dee > pockets. All Patterson did was not meet their projected forecasts. [quoted text clipped - 21 lines] > make out and the stock holders get a modest amount. All this jus > because of "poor" planning -- Joel34
dr shad j lewis (via google) - 20 Aug 2005 11:51 GMT Or,
"Financial Forecasting for Dummies."
dr shad j lewis (via google) - 20 Aug 2005 11:52 GMT That would be plain STUPID and SUICIDE for an established company.
My reply:
Enron.
billkatz - 20 Aug 2005 13:14 GMT Sue Wrote:
> I think you are misreading this whole situation. Hi Sue :)
Hope you had a good vacation.
As of today, there are eight major law firms involved in this clas action. The lawsuit is against PDCO and their CEO Frechette, jointl and severally. Like you, I know there are lots of good people who wor for Patterson, albeit, I don't believe that eight major law firms woul invest their manpower and assets on a fluke or an "ambulance chase" Some of these law firms have 150+ attorneys per, and they operate on national scope.
Lots of people are just 'blowing this off' as some shysters going afte a company with deep pockets. Perhaps that's true. On the other hand these law firms are experts and they won't go after someone who the believe will be found innocent. Patterson will be fighting this one, n doubt. Patterson may also be fighting against... about a thousand or s lawyers.
This is pretty serious. If found guilty, somebody could go to jail
-- billkat
Joel344 - 20 Aug 2005 13:22 GMT Ken Lay has some spare time on his hands ... he is writing a new textbook for the course, BookCooking 101.
Hey! What about that Richard Scrushy? GOT OFF THE HOOK!
Joely
 Signature Joel344
Sue - 20 Aug 2005 14:14 GMT Hi Bill,
Thanks. Yes I just got off vacation and have heard nothing about this until now. Upon what I read in the news printing on Flap's blog, I see this differently than you. However you have obviously studied this in more depth and than I and have more information than that news printing. I saw no evidence in that article of "cook booking" or fraud, however I am sure a team of 100 lawyers can create a spin that will put money in their pockets.
Please tell me more Bill and exactly what it is that Patterson did to purposely DEFRAUD their stockholders? Perhaps I am missing something (seriously).
I may be blindly biasing my opinion and defending Patterson because I know from experience how stockholders and laypeople CAN COMPLETELY misinterpret lawsuits against reputable companies and jump to their own FALSE conclusions.
For instance, on DT one person keeps proclaiming that Medtronic stole patents from Dr. Michaelson, an orthopod who used to be a consultant for Medtronic because Medtronic lost a HUGE lawsuit that he brought against us.
No patents were stolen and nothing unthethical was done. Both sides thought they were right (of course we were working under our lawyers' consultations as well).
First off, we were paying Dr. Michaelson for rights to his patents. He then started marketing some of his patents (that we did not think have as much portential) through some of our competitors. This went against our legal agreement with him.
So our lawyers consulted us take lawsuit against him. We did. Dr. Michaleson countersued claiming that Medtronic was not effectively marketing some of his patents (which was true).
The courts ruled in Dr. Michaelson's favor. We ended up *buying* off all of his patents for a hefty price.
This is then turned into "Medtronic is stealing patents" as proclaimed by this dentist on DT. So you can see how peiople can make "garbage" out of big business and make completely false accusations out of nothing other than poor business decisions.
In this case it turned out ok for both parties in the end. Dr. Michaelson was happy with his 1.3 billion dollars. We have rights to his remaining patents. Afterwards Dr. Michaelson said that he looked forward to working wiht Medtronic engineers on the future.
-Oh and of course.. the lawyers got big bucks.-
In fact I will get statements from HIS (Dr. Michaleons's) lawyers if you do not believe me (re: Michaleson's sentiments on Medtronic as a company).
************************************************
Ever since Enron happened, the public is so quick to jump to their own conclusions. In the case of Patterson, I guess we will just have to wait and see what the truth is.
Sue
The accusation that we stole patents from him is completley FALSE!
There was no fraud and no Medtronic
 Signature Sue
billkatz - 20 Aug 2005 14:22 GMT Hi Sue,
Here it is, http://www.lerachlaw.com/cases/patterson/complaint.pd
-- billkat
Sue - 20 Aug 2005 14:22 GMT P.S. Sorry for the typos... I cannot seem to edit any of my typos i this new format
P.S.S. Scandalous lies are often more interesting than the truth. Muc of what is written in history are in fact lies just because it is mor interesting. Funny how this then becomes labeled "truth.
-- Su
Joel344 - 20 Aug 2005 14:30 GMT *IF* proven, this could be problematic.
BIG *IF* though!
Joel
p. 7 .... complaint
 Signature Joel344
billkatz - 20 Aug 2005 15:18 GMT Joel344 Wrote:
> *IF* proven, this could be problematic. > [quoted text clipped - 3 lines] > > p. 7 .... complaint That's the problem as I see it. This may turn into a jury case and jur cases like the Vioxx case that hit the news this morning are an exampl of this *IF*. This class action doesn't involve the SEC at all. That' the second *IF*. The stock is deflating but I don't see it taking nosedive. *IF* the SEC gets involved on the other hand... ugh..
-- billkat
Sue - 20 Aug 2005 15:54 GMT HI Guys
I am cleaning up dog throw-up... our poor little lab is on her las legs. We may have to put her down soon. I ma so sick about her righ now. She is not not doing well at all
Anway, I am trying to print the lawsuit... but I cannot stay t discuss. We have an early wedding to go to
Bill is it ok if I post this on Dentaltown (the link and you comments)? I am not going to discuss it (no time).. but it might offe some more information for the so-called "Amen" chorus to digest
Thanks
Su
-- Su
billkatz - 20 Aug 2005 16:03 GMT These comments are public and as such, they can be read by anyone. I' not interested in proving anything to this so called "amen crowd" s the little I post over there is just to try to help someone out fro time to time. Personally, I prefer to stay away from all the bickering etc adnauseum. Totally unproductive, IMO
-- billkat
StovePipe - 28 Aug 2005 04:16 GMT > That's > the second *IF*. The stock is deflating but I don't see it taking a > nosedive. *IF* the SEC gets involved on the other hand... ugh. .... not ugh... BUY BUY BUY
SP
 Signature Finally: take out the TRASHH
W_B - 20 Aug 2005 18:51 GMT >*IF* proven, this could be problematic. > [quoted text clipped - 3 lines] > >p. 7 .... complaint Well you could consult with Bernie Ebbers...
-- W_B
wubbabubbazG@RBAGEyahoo.com Take out the G'RBAGE
Joel344 - 20 Aug 2005 23:43 GMT Does anyone know where to locate Bernie? I tried to reach him but I wa informed that he had moved.
Joe
-- Joel34
billkatz - 21 Aug 2005 00:30 GMT He'll be busy for the next 25 years ;-
-- billkat
W_B - 22 Aug 2005 16:55 GMT >He'll be busy for the next 25 years ;-) Have heard that Martha and Bernie are teaming up to write a new book.
Working title is rumored to be: "Cooking With Books"....
Yeah, I know very 'punny'... --
W_B Take out the G'RBAGE wubbabubbazG@RBAGEyahoo.com
Sue - 22 Aug 2005 17:07 GMT W_B Wrote:
> On Sat, 20 Aug 2005 23:30:57 GMT, billkat > <BILLTHEKAT@HOTMAIL.COM>wrote [quoted text clipped - 11 lines] > Take out the G'RBAG > wubbabubbazG@RBAGEyahoo.com Just do not confuse Patterson with Medtronic. We do not use the same recipe or pot
-- Su
W_B - 22 Aug 2005 19:49 GMT >W_B Wrote: >> [quoted text clipped - 6 lines] >> Yeah, I know very 'punny'... >> --
>Just do not confuse Patterson with Medtronic. We do not use the >same recipe or pot! Didn't know that you smoked the stuff... --
W_B Take out the G'RBAGE wubbabubbazG@RBAGEyahoo.com
Joel344 - 22 Aug 2005 21:39 GMT billkatz - 23 Aug 2005 00:23 GMT W_B Wrote:
> Didn't know that you smoked the stuff.. > - ZING Welcome to the UseNet Sue : No doubt, I'll be next ;-
-- billkat
W_B - 23 Aug 2005 16:03 GMT >W_B Wrote: >> [quoted text clipped - 4 lines] >Welcome to the UseNet Sue :) >No doubt, I'll be next ;-) I thought maybe you would say BONG ! --
W_B Take out the G'RBAGE wubbabubbazG@RBAGEyahoo.com
Sue - 26 Aug 2005 21:28 GMT >W_B Wrote:
>> Didn't know that you smoked the stuff... >> -- W_B Take out the G'RBAGE wubbabubbazG@RBAGEyahoo.com
W_B, I tried it once and thought it was not working. Then I stood up WHAM! woo hoo. :-) Sue
************************************
I just wanted to add this. Kirk & I met with our financial advisor (Tim) yesterday. Although we do not own any stock in Patterson, I off-handedly mentioned this case.
Tim said he was not familiar with the case. Yet he is an astute, candid and honest guy, so take this for what it's worth. In his experience (20 yrs) studying the market and following public enterprises, his opinion is:
-the true incidence of fraud is fewer than 1% of publicly trading companies
-the same 10-12 law firms tend to represent security fraud cases. He characterized these firms as blood-thirsty and cut-throat. He added that he did not mean to sound cynical but these firms make money whether the case is won or lost. His belief is that they will go after almost anything when a large loss the stock value occurs
-security fraud is very hard to prove .. so therefore the assumption that these cases are taken on merit (i.e. the lawyers are being the "good guys" and representing the poor stockholders out of the goodness of their hearts is likely a non-issue)
I tend to agree with him. He reminded me of the time we (Medtronic) missed our quarterly projections by 1 penny! ... next day our stock was down by 8.4%
Just more food for thought.
Sue
 Signature Sue
StovePipe - 28 Aug 2005 04:16 GMT > He reminded me of the time we (Medtronic) missed our quarterly projections by 1 penny! ... next day our stockwas down by 8.4% Just more food for thought.
The reason that this happens is that the Pros scare the amatures outta the market by talking fear projections... Then when these Mom and Pop investors dump the stuff onto the market, the Pros pick it up at a bargain and re-sell it to their preferred clients. It's happened at Merril Lynch Pierce Fenner and Smith, Inc., and many other strong companies. What is interesting here is that Patterson is not a Money Stock; they are a dental/veterinary equipment and product re-seller (with some very minor manufacturing) and so, their real clients are a bunch of stubborn SOB's who don't want to see Shein dominate the market.
What would I do if I had any $$$? I'd wait to see a turnaround in stock price with higher than normal volume and I'd Buy back in. I wouldn't consider buying back in until Standard and Poors and ValueLine re-rate the stock, which means that The Street has decided the debacle is over. When will this be?
After the lawyers have had their feed at the trough.
In the same way, if I was Sue, the next time Medtronic misses its projections, I'd be thinkin' BUY BUY BUY!!!!!!!! After all, haven't they bounced back each time it's happened in the past?
SP
 Signature Finally: take out the TRASHH
Sue - 20 Aug 2005 14:38 GMT billkatz Wrote:
> Hi Sue : > [quoted text clipped - 16 lines] > > This is pretty serious. If found guilty, somebody could go to jail. *************************************************** Hey Bill
Ambulance chasers aside.
Do lawyers EVER take a case that they think they will lose? No. No unless they are a public defender ordered to take the case
Lawyers take cases to make money and to win. "Reputable" lawyers kno how to spin. -That is part of their job description. Johnny Cochra is one of those "reputable" lawyers.
Thanks for the article. I will read when I can. Kirk is pulling m off the computer. We ahve a lot of stuff we need to do today
Talk later
Sue :-
-- Su
Bill - 21 Aug 2005 02:19 GMT > billkatz Wrote:
> > I don't believe that eight major law firms would > > invest their manpower and assets on a fluke or an "ambulance chase". > > Some of these law firms have 150+ attorneys per, and they operate on a > > national scope. Big law firms chase ambulances all the time, but only if they are mega-size ambulances. They do this for a living.
> > Lots of people are just 'blowing this off' as some shysters going after > > a company with deep pockets. Perhaps that's true. I don't know whether Patterson is guilty of being misleading or not. But, I DO KNOW that the lawyers don't care! They only care if they can make a LOT of money on the deal -- whether by winning the case, or merely by pressuring Patterson into a settlement whereby the lawyers STILL make a lot of money on the deal.
>From the lawyer's professional standpoint, truth has nothing to do with it.
> > This is pretty serious. If found guilty, somebody could go to jail. > **************************************************** Not from any lawsuit filed by the law firms mentioned. These firms are interested in money, not in criminal justice. This is a civil suit.
> Hey Bill, > [quoted text clipped - 6 lines] > how to spin. -That is part of their job description. Johnny Cochran > is one of those "reputable" lawyers.- I also read about one of the main lawyers in this case. He's a local guy. His entire legal career has only been about money, and how to stuff his own pockets, no matter who the defendant. He big "starter" case in the 1970's was suing a church that was taking such good care of elderly retirees, that the retirees' normal expected death rates dropped, and they outlived their elder-care contracts. While the church was ripped off by the typical California legal system that supposes all money awards are "free," money that should have gone to the existing programs for the poor was instead diverted to pay huge percentage legal fees.
If you think that such lawyers REALLY care about the poor and the unfortunate, just drive out to their palatial, MULTI-million dollar estates and contrast that with the poor homeless urban folks who are still supported and aided by the members of the same church who were forced to fund this lawyer's extravagant lifestyle thirty years ago.
Once there is no money in it, these lawyers drop their pretense of "caring" and rapidly move on.
Lawyers are sharks. Too many of them smell a little blood in the water and ravage everything in sight to stuff their own bellies.
- dentaldoc
billkatz - 21 Aug 2005 03:14 GMT Bill,
I tend to disagree with the mentality that *all* lawyers are sharks. They’re professionals and quite a few are ethical and good people. This is no better than the mentality of the patient who complains “I went to that dentist and I lost all of my teeth because of him. Total bull****, IMO.
I *do* own PDCO stock (have since 01 when it was $12.00 a share) and I’m not overly pleased by what I see. I’m trying to keep the higher ground on this and stereotyping doesn’t help matters. Take a close look for yourself and tell me where the sharks are. http://finance.yahoo.com/q/it?s=PDCO
 Signature billkatz
Sue - 21 Aug 2005 17:14 GMT billkatz Wrote:
> Bill, > [quoted text clipped - 9 lines] > look for yourself and tell me where the sharks are. > http://finance.yahoo.com/q/it?s=PDCO Hey Bill,
Although my tone was a bit sarcastic, I never said lawyers are not good people!! But lawyers are paid to do a job. "Good" lawyers do that job to the best of their ability. If you hire a lawyer do you want the lawyer to be looking out for you or the other side?
It is not the lawyer's primary job to *predict* inoccence or guilt as you a allluded in a few posts ago. How can a lawyer know all facts about a case prior to accepting a case? If a lawyer knew (the complete truth of a matter) beyond a reasonable doubt prior to accepting a case, then a lawyer would be God.
They take a case based upon "the facts" (as they see them) and their gut feeling as to whether or not the case is "viable" and holds some merit.
After that, they do eveything in their power to defend or to prosecute. That is their job. Their job is not to determine the ethical aspects of an outcome. Their job is simply to do the best they can to defend or to prosecute. Pure and simple.
If they have ethical concerns about their stance once onto a case, then they either pull out or they continue to do their job to the best of their ability.
I am not referring to going after money just for the sake of money. I am referring to the inherent nature of what a lawyer is EXPECTED to do for their client (true innocence and guilt) put aside.
The nature of many lawsuits today are not always black and white that would in truth provide a verdict of 100% guilty (from an ethical standpoint). Simple error can = guilt, but not necesary equate to unethical behavior IMO. ESPECIALLY a case like this that addresses loss of money by stockholders.
Lawyers will defend cases that they think they can prove.
I have to admit, I still have not read the claim that you provided, so in this particular case I may change my mind about whether there was truly deliberate wrong doing by Patterson.
I just wanted to clear up your perception of what I think of lawyers.
Lawyers are intelligent professionals and good people just like anyone else. Some have higher internal ethical than others. But they all have a job to do.
It is the job that REQUIRES quite a bit of objectivity that may result in a necessity to compromise one's internal ethics at times.
Sue
 Signature Sue
Sue - 21 Aug 2005 17:23 GMT OOPs. I was confused. I thought Bill K was addressing me, he wa addressing another Bill (dentaldoc). Sorry for interrupting
Su
-- Su
Joel344 - 21 Aug 2005 22:23 GMT Interresting imagery ... cooking the books ...... large pot ... spice ... stirring madly ......
-- Joel34
Sue - 21 Aug 2005 22:51 GMT Joel344 Wrote:
> Interresting imagery ... cooking the books ...... large pot ... spice > .... stirring madly ....... Yeah. Perfect scene for a witch hunt
-- Su
billkatz - 21 Aug 2005 23:03 GMT Joel344 Wrote:
> Interresting imagery ... cooking the books ...... large pot ... spice > .... stirring madly ....... 2 cup celery; cut into 1" pieces 2 md onion; chopped 3 tbsp water 58 oz tomato, stewed, with Mexican seasoning 1/2 cup cilantro, fresh; chopped 2 lb Shark and cut into pieces about 1 1/2" by 3" Hot cooked rice Homemade or prepared salsa Cilantro leaves Plain yogurt or sour cream Lime wedges Salt and pepper
In a 5-6 qt pan, combine celery, onions and water. Stir often ove medium-high heat until water evaporates and vegetables start to stic and brown slightly, about 10 min.
Stir in tomatoes and their liquid into pan along with chopped cilantro Bring to full boil on high heat. Push fish down into vegetables; cove and simmer on low heat until fish is opaque but still moist-looking i the center of the thickest piece (about 20 minutes). Ladle stew int wide bowls and add cooked rice, salsa, cilantro leaves, yogurt, juic from lime wedges and salt and pepper, to taste
-- billkat
Joel344 - 22 Aug 2005 11:43 GMT One part is missing ..... place company books inside ..... simmer for couple of hours ...... bring them out and dry off the pages ...... se if the balance sheet looks better
-- Joel34
StovePipe - 28 Aug 2005 04:16 GMT > Lawyers are sharks. Too many of them smell a little blood in the water > and ravage everything in sight to stuff their own bellies. > > - dentaldoc Jeez... That was quite to the point, Bill. My guess is you've got a few brothers in law who are Lawyers?
Just askin' SP
 Signature Finally: take out the TRASHH
Joel344 - 28 Aug 2005 10:56 GMT Point is, too many CEOs and top management focus on stock share price instead of focusing on product or employee well being.
 Signature Joel344
billkatz - 28 Aug 2005 11:24 GMT StovePipe Wrote:
> Bill. My guess is you've got a fe > brothers in law who are Lawyers > Nope, but I do have a good bit of law firms as clients Opinions mean little but this on the other hand..
[image http://ichart.finance.yahoo.com/z?s=PDCO&t=1y&q=l&l=on&z=m&c=HSIC&a=v&p=s
-- billkat
Sue - 01 Sep 2005 16:14 GMT Bil the drop does not look very impressive when you look oerv the lon term. Looks like there were larger dips in the past
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-- Su
Joel344 - 20 Aug 2005 01:02 GMT Speaking of decorator ankle bracelets, I heard when Martha Stewart wa released from the "Big House" she was under house arrest at the "Eve Bigger House."
Joel
billkatz Wrote:
> Doesn't make the crime any less severe... Although... > Ankle bracelets do come in matching decorator colors now. :P > > I feel sorry for the investors; if this is true -- Joel34
billkatz - 20 Aug 2005 01:38 GMT I guess when your assets make the Forbes Billionaires List, nobod notices the bracelet...
Ehhh... Your net worth that is... :
-- billkat
StovePipe - 14 Aug 2005 02:48 GMT > No phone for a month ....... there are lots of old wires > running through these houses ..... I remember: that's when you discovered WiFi systems at the library and the StarBucks' coffee store.
SP
 Signature Finally: take out the TRASHH
shadlewis - 13 Aug 2005 02:00 GMT What happened in November and in May?
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 Signature shadlewis
Shad J. Lewis, dmd, ma Wyomissing, PA 'www.WyomissingSmiles.com' (http://www.WyomissingSmiles.com) 'WyomissingSmiles.blogspot.com' (http://WyomissingSmiles.blogspot.com)
Flap - 13 Aug 2005 02:15 GMT Beats me but 14% drop in one day!
Seems like some word on the street beat them down or a major investor pulled out and sold out.
Anyone know?
Flap
http://flapsblog.com
billkatz - 13 Aug 2005 02:24 GMT There's more than one class action suit as of right now. Five or more at last count
http://tinyurl.com/ao2x
-- billkat
Flap - 13 Aug 2005 03:40 GMT Hey Bill,
Nice......
Where there is smoke...there is fire.
Flap
http://flapsblog.com
billkatz - 13 Aug 2005 12:28 GMT Last month, one of their board members (Beecken) resigned due to "conflict of interests" under "Patterson's ethics code". Lerach Coughlin (sp) is one of those firms involved in the class action They're a 900lb gorilla, as law firms go
FUD factor aside, there may be more here than meets the eye... Too man sharks in the water..
-- billkat
Flap - 13 Aug 2005 20:42 GMT Right, Bill
And, of course, Chris Cox, new at the SEC will be watching.
Flap
http://flapsblog.com
Bill - 13 Aug 2005 17:07 GMT There's more than one class action suit as of right now. Five or more at last count.
http://tinyurl.com/ao2xe
-- billkatz
According to that link, the company still sells at a P/E ratio of over 33! Is that crazy, or what?
- dentaldoc
billkatz - 13 Aug 2005 17:28 GMT I'm not sure what'll happen. There are some very strong accusations i that complaint. If any of this is found to be true... Wow!
Patterson does openly post a code of ethics that all employees ar supposed to follow https://www.pattersoncompanies.com/app.aspx?cmd=ethic
-- billkat
StovePipe - 13 Aug 2005 22:03 GMT > There's more than one class action suit as of right now. > Five or more at last count. [quoted text clipped - 8 lines] > > - dentaldoc No, but IMHO, it's misguided. I'm no expert, but I always understood the Price per Earnings as an expectation that the industry places on a company's future performance. If high, that means that the particular industry the stock is in regards that company as an industry leader and it will break new ground.
Duh.....
Correct me if I'm wrong but there seems to be only TWO major players in the dental distributing and repackaging industry: Patterson and Shein. So almost by definition, they are both Industry Leaders, and so should have high P/E's. I haven't looked at Shein's P/E, but I'd bet it is high as well.
This is why I don't think that P/E is any real indicator of any kind of real worth.
Does this make any sense to anyone?
SP
 Signature Finally: take out the TRASHH
StovePipe - 13 Aug 2005 22:03 GMT > Beats me but 14% drop in one day! > [quoted text clipped - 6 lines] > > http://flapsblog.com If that is true, it is time to BUY. Patterson will not go out of business. The worst that would happen is that they get swallowed by Shein.
However, if I was running your SEC down theah, I'd disallow the takeover of Patterson by Shein, claiming unfair monopolization.
I didn't see the front of this thread (All hail to Sympatico again) but I personally wouldn't worry until/unless the SEC halts trading in Patterson stock.
JMO SP
 Signature Finally: take out the TRASHH
Dr Steve - 13 Aug 2005 13:46 GMT I have yet to see any of the regulars here bother to read stuff on Flap's blog. If you want to discuss something, post it here.
 Signature ~+--~+--~+--~+--~+-- Stephen [What's a Temporary?], D.D.S. Michigan, USA ....................................................
This posting is intended for informational or conversational purposes only. Always seek the opinion of a licensed dental professional before acting on the advice or opinion expressed here. Only a dentist who has examined you in person can diagnose your problems and make decisions which will affect your health. ......................
> Flap wonders: http://flapsblog.com/?p=753 billkatz - 13 Aug 2005 14:56 GMT FWIW, here's the complaint and demand for jury trial http://www.lerachlaw.com/cases/patterson/complaint.pd
-- billkat
Flap - 13 Aug 2005 20:56 GMT Thanks Bill
Flap
http://flaspblog.com
Flap - 13 Aug 2005 20:48 GMT Steve,
You are welcome to read or not to read.
But, my referral logs do indicate some SMD and Dentalcom.net readers come over.
I have pretty good traffic, but would always like more.
Remember a blog is not usenet or a bulletin board.
There is no competition - only information.
Flap
http://flapsblog.com
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