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Post by biotec on Sept 30, 2015 19:54:32 GMT -5
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Post by sportsrancho on Sept 30, 2015 20:22:20 GMT -5
Yep, looks like it wasn't a rumor after all.
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Post by kball on Sept 30, 2015 20:27:34 GMT -5
Any thoughts on why they aren't disclosing the number of layoffs?
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Post by mssciguy on Sept 30, 2015 20:32:13 GMT -5
Yep, looks like it wasn't a rumor after all. 3rd time this year, huh? Embarrassment of niches. I'll hold mine until the end, whether it's 0 or 100, but to watch Wall Street make a pinata and destroy the reputation of a company just two weeks after a drug is on the market ----- YOU Goldman Sachs --- disgusting, same league as Shrekeli. Will never put another penny into the market. It's rigged with HFT, dark pools, assassin journalists, and worse. Looking forward to Friday, and remembering the old saying, "it's always darkest before the dawn" |
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Post by harrys on Sept 30, 2015 20:36:32 GMT -5
Yahhhhh... I almost got torn to shreds for this, but I felt like the source was genuine when I first learned of layoffs
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Post by kball on Sept 30, 2015 20:38:25 GMT -5
^ Number laid off anyone?
Is there still around 290 full time employees until this round?
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Post by james on Sept 30, 2015 20:38:42 GMT -5
Wow. Well, there's no point denying the obvious. Every time I've heard about ramping production capacity I have asked myself why they would do that. It makes sense to have 3 lines for redundancy and to shorten lead times, but not to run three lines around the clock. Anyone awake will have been thinking the same thing. So my initial reaction is that this shouldn't reflect negatively on share price in the short term. Will be interesting to see what happens...
My one hope is that this did not touch R&D.
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Post by harrys on Sept 30, 2015 20:44:13 GMT -5
Let's all consider the fact this could mean a few very different things BUT will be spun into the latest and maybe most significant FUD campaign we've seen in a while by the usual suspects... I believe we will see some sort of press release tomorrow or Friday regarding the notes and maybe a manufacturing milestone (Sanofi Insulin?) maybe this will temper the slaughter sure to take place.
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Post by lynn on Sept 30, 2015 20:44:35 GMT -5
That explains Roberta's specific response to my question yesterday , I foolishly asked if they laid off 130 employees & she replied " as far as 130 , that is not true " . I should have been more vague with my question & followed up more , but I suppose it wouldn't change a thing . I do wish she was more up front about it though . Ugh ! I'm not so savvy when it comes to dealing w/ IR , lesson learned !  |
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Post by kball on Sept 30, 2015 20:46:46 GMT -5
Also want to add that the timing of these layoffs seems to coincide with the timing of handling the note.
Doubt these layoffs would have occurred if we were at the original conversion price (was it 6.80?)
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Post by mssciguy on Sept 30, 2015 20:54:13 GMT -5
Also want to add that the timing of these layoffs seems to coincide with the timing of handling the note. Doubt these layoffs would have occurred if we were at the original conversion price (was it 6.80?) Excellent point. Would not have happened in all likelihood. I really wish mgmt would have hired a securities lawyer to get SEC's attention, months ago... there was repeated naked shorting attacks to manipulate price, rules were broken, many reported on this to SEC via web/phone ... how powerful are these people? So destructive and I won't say any more. |
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Post by Deleted on Sept 30, 2015 20:58:57 GMT -5
MannKind is being right-sized for future Afrezza sales and product development. It would be irresponsible for management to have excess employees during this challenging period. It is unfortunate for employees but it is a necessary evil.
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Post by obamayoumama on Sept 30, 2015 21:12:40 GMT -5
Not a big deal. The reason for the three lines, is that the 2 newer lines can handle the 12 unit cartridge. All companies "Right Size". Yes, insurance has been a bigger hurdle than they originally thought, but that is in the process of being addressed. Remember what is important for the long run, diabetics are getting their BG under control like never before.
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Post by factspls88 on Sept 30, 2015 21:16:30 GMT -5
Well I'm not quite sure what to say about all of this. Is this information any different from that which Matt spoke of before or is this in addition to it? I recall him talking about the closing of Valencia and the shuffling of employees from New Jersey to Danbury. Regardless, the reality stings.
Also, I don't want to seem dense but this is the third round of layoffs? Can anyone tell me what one and two were?
I am not looking forward to the tape tomorrow.
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Post by Deleted on Sept 30, 2015 21:22:20 GMT -5
That explains Roberta's specific response to my question yesterday , I foolishly asked if they laid off 130 employees & she replied " as far as 130 , that is not true " . I should have been more vague with my question & followed up more , but I suppose it wouldn't change a thing . I do wish she was more up front about it though . Ugh ! I'm not so savvy when it comes to dealing w/ IR , lesson learned ! This may be part of the reorganization mentioned by Matt during last earnings conference; best to wait for news from MannKind if new or old. |
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