Thursday, February 3, 2011

"The Third Time's The Charm," Eh Freddie?

He certainly left New Merck CEO Ken Frazier holding another Hassan bag of smoldering dung, this morning, no?

Okay -- less pungently -- today's New Merck write-off, of another $1.7 billion of Ex-Schering-Plough CEO "Fast" Fred Hassan's hype leads to an obvious question:

. . . .How is it that Whitehouse Station got snowed by this guy (with Carrie S. Cox, Bob Bertolini, and Tom Sabatino and Tom Koestler helping, here -- as well)?

For Hassan and Cox, this is now the third time they'd done this -- first as they exited AHP, then as they sold Pharmacia to Pfizer. . . and now, as they busted up Schering-Plough, and dumped the pieces on Merck.

How many MORE times will public company CEOs be sold a sow's ear (at silk prices) by Hassan & Co.? That is what I wonder. . .

Watch out for (my speculation) a Bausch + Lomb public offering in 2011 or 2012. . . .

It is a sad prediction -- but likely to become fact. We shall see -- but my advice is not to buy in, should it be offered.

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