Monday, March 21, 2016

An Aside: Meanwhile, Over At Valeant -- Carnage Continues

Mr. Pearson's sacking was a foregone conclusion, after last week's unfathomably-poor conference call performance -- complete with a $600 million "typo" on guidance -- in the press release.

But this I did not expect: Mr. Schiller is being pushed out, as Mr. Ackman himself takes his seat on the board -- amid an allegation of providing incorrect [financial?] information to the board's ad hoc committee. Thus far, Mr. Schiller has not agreed to step down. Cheeky(!).

I'll not quote any one source, as all of it is splashed across most MSM business outlets this morning. It is carnage -- in still-drying (digital) ink. Eek.

You may go read the WSJ yourselves. But I sure do hope that the Valeant board doesn't select Mr. Hassan as the next shiny object. [Do search "Valeant" in the search box above, for the whole back-story on B + L (acquired by Valeant; engineered by Hassan) -- oh that ever-goofy, fun-lovin' "Debt Loading" Fred.] Me? I am guessing that Mr. Ackman's input will be to steer ENTIRELY clear of old "Fast Fred" -- as the next Valeant CEO. We shall see. Onward.

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