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Post by dictatorsaurus on Dec 12, 2016 17:42:44 GMT -5
One thing I don't understand, and this is regarding the investors, how come no one is screaming bloody murder the fact Hakan is still on the payroll???
I find it mind boggling how he contributed to demolishing this company yet he gets to sit back and collect a nice hefty paycheck. I would imagine you could hire a few reps with that money and actually help the company out. To me that's a big FU to us investors. But apparently it's been swept under the drug.
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Post by agedhippie on Dec 12, 2016 18:27:00 GMT -5
I have a T1 friend who would be dead. Went hypo overnight in bed, got up, cracked his head open on the corner of his dresser. Saved by his wife getting him to the ER. Not an uncommon occurrence in the universe of T1's. Type 1 has it's little joys but the idea that we are all going down like nine pins is ridiculous. That's a nasty accident, but it's no more common than any other person getting out of bed and falling. A simple fix would be to do the same as I do and keep glucose tablets on the nightstand.
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Post by Deleted on Dec 12, 2016 18:56:07 GMT -5
One thing I don't understand, and this is regarding the investors, how come no one is screaming bloody murder the fact Hakan is still on the payroll??? I find it mind boggling how he contributed to demolishing this company yet he gets to sit back and collect a nice hefty paycheck. I would imagine you could hire a few reps with that money and actually help the company out. To me that's a big FU to us investors. But apparently it's been swept under the drug. The fact that hakan wasn't discharged after his debacle at the helm and is still at the company is beyond my logic. Little clues like the one he dropped during one of his CC's during his tenure as CEO lite up for me like a nuclear explosion - the famous "to the participants listening to this call who have an interest in sharing the risk and the rewards of our product development effort, or who have a formulation or dry delivery challenge that our technology may address, I would say this: Let's talk." Hakan suggested during that same call in 2015 that they've "had discussions with potential partners, however, there are still negotiations to be had. So I would say, I would hope that we could possibly announce something before the end of the year or within the next quarter." I guess the potential deals being touted for years now have all been swept under the drug as well. Matt has all but given up on even mentioning the idea that a deal might in the wings. Why matt hasn't been demoted back to CFO and replaced with a season vet with the CEO skills and experience to handle this type of situation is also beyond me. Matt seems like a nice guy, and, who cares. He's a CEO of a public company, not my BF. When MNKD gave the announcement that sny is done (around the beginning of Jan 2016), scripts were around 400-500/week. Between july 1st and this past week, around the time when mnkd began selling afrezza on their own, Trx ranged from 216 to 305 with last week being 280 Trx. So he's done what in almost 12 months for the only thing that matters (sales)? Right, nothing. He needs to go along with hakan, imo.
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Post by chuck on Dec 12, 2016 19:21:32 GMT -5
This week marks the six month anniversary since afrezza was relaunched at the 2016 ADA. Weekly trx has not budged at all in six months. Sad.
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Post by nylefty on Dec 12, 2016 21:40:46 GMT -5
One thing I don't understand, and this is regarding the investors, how come no one is screaming bloody murder the fact Hakan is still on the payroll??? The fact that hakan wasn't discharged after his debacle at the helm and is still at the company is beyond my logic. Isn't it possible that he has a contract that requires MannKind to pay him, whether he works or not? The only sport I follow is pro basketball and there are a fair number of NBA players who signed multi-million dollar contracts, didn't pan out, but are still making millions while sitting on the bench, contributing little or nothing.
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Post by dictatorsaurus on Dec 12, 2016 22:01:44 GMT -5
The fact that hakan wasn't discharged after his debacle at the helm and is still at the company is beyond my logic. Isn't it possible that he has a contract that requires MannKind to pay him, whether he works or not? The only sport I follow is pro basketball and there are a fair number of NBA players who signed multi-million dollar contracts, didn't pan out, but are still making millions while sitting on the bench, contributing little or nothing. If thats the case, it only serves as another testament to the herroundous contracts they keep signing where an underachiever gets rewarded regardless of how badly he f's up. How on earth would such a deal benefit the company? No matter how you look at it it's still a sour deal.
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Post by slugworth008 on Dec 12, 2016 23:05:52 GMT -5
One thing I don't understand, and this is regarding the investors, how come no one is screaming bloody murder the fact Hakan is still on the payroll??? I find it mind boggling how he contributed to demolishing this company yet he gets to sit back and collect a nice hefty paycheck. I would imagine you could hire a few reps with that money and actually help the company out. To me that's a big FU to us investors. But apparently it's been swept under the drug. Yes, that is COMPLETE BS and a big FU to investors. I gotta agree with you on that one.
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Post by mnholdem on Dec 13, 2016 7:37:47 GMT -5
Wouldn't a smart investor know reps werent going to work? Are there drug companies out there that have drugs sold via some other means? Ok I guess implying they shouldn't have hired reps (because sny had reps )to reverse the down trend in sales is silly only to me. [Clipped] This has all been said and pee'd on before, but, here goes again for kicks. I have no idea what mnkd should do nor do I pretend to have any real idea. It's not my job or my company and I'm only holding 1k shares these days (yes, long btw). But here are my suggestions to what mnkd should do: [1-4 Clipped] 5. And lastly, why in heck is matt not on every business or other styled talk show he can get his butt on talking up his product? It's done all the time. When EXAS, as an example, finally got FDA approval a company rep (believe it was the CEO but not positive) was on CNBC touting it's product. What was hakan doing after FDA approval? Not on CNBC that's for sure.
Do you never tire of posting misleading information?
FDA approves inhaled insulin
FOX Business News | Jun. 30, 2014 - 3:01 - Hakan Edstrom from Mannkind on the future of his company’s new product.
Note that FOX Business misspelled "Afrezza"?
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Post by kbrion77 on Dec 13, 2016 7:59:22 GMT -5
One thing I don't understand, and this is regarding the investors, how come no one is screaming bloody murder the fact Hakan is still on the payroll??? I find it mind boggling how he contributed to demolishing this company yet he gets to sit back and collect a nice hefty paycheck. I would imagine you could hire a few reps with that money and actually help the company out. To me that's a big FU to us investors. But apparently it's been swept under the drug. It is maddening but these cases are a dime a dozen around Corporate America. I'm not necessarily going to rip Hakan because he did fight the good fight to bring Afrezza to patients but failed miserably from a vision and strategic standpoint. I think we can all agree he was not CEO material obviously.
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Post by dictatorsaurus on Dec 13, 2016 8:17:51 GMT -5
Note that FOX Business misspelled "Afrezza"?
Afreeeeeeeeeeeeeeeeza. I laugh everytime someone spells or pronounces it wrong
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Post by madog365 on Dec 13, 2016 8:26:10 GMT -5
Isn't it possible that he has a contract that requires MannKind to pay him, whether he works or not? The only sport I follow is pro basketball and there are a fair number of NBA players who signed multi-million dollar contracts, didn't pan out, but are still making millions while sitting on the bench, contributing little or nothing. If thats the case, it only serves as another testament to the herroundous contracts they keep signing where an underachiever gets rewarded regardless of how badly he f's up. How on earth would such a deal benefit the company? No matter how you look at it it's still a sour deal. I think you have no idea what you're talking about ... Hakan retired one year ago after being with Mannkind for 15 years. Is it really so hard to believe that he would have gotten a severance or deferred compensation package that would run for a certain time period. It's pretty standard practice.
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Post by promann on Dec 13, 2016 9:15:21 GMT -5
This Thread as many has taken different paths but I will bite on the Hakan theory. I believed back when they dismissed him from CEO and gave full pay until August 2017 at a lesser evidently (secret duty) at MNKD that it was to keep him close from telling any of MNKDs secret paths/plans. That was the rumor and it seemed to make since surrounding all of the secretive happenings at MNKD. I think if they totally dismissed/fired him that there may have been some inside knowlege that MNKD was afraid he might leak. Maybe he was told everything about RLS and this is hush money to keep there identity unknown. Who knows but if that is the case then maybe we can expect to hear everything about them by the time Hakan is off the payroll.
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Post by mnholdem on Dec 13, 2016 9:57:27 GMT -5
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e)
On December 1, 2015, MannKind Corporation (the “Company”) entered into a separation agreement with Hakan S. Edstrom, the Company’s former President and Chief Executive Officer who resigned on November 19, 2015, regarding the terms of Mr. Edstrom’s transition and separation from the Company. Pursuant to the agreement, and provided that Mr. Edstrom does not revoke his acceptance of the agreement, Mr. Edstrom will provide the Company with a general release of claims and will remain employed with the Company to provide transition and other services through July 1, 2017, subject to his earlier resignation or termination by the Company. Mr. Edstrom will report to the Company’s principal executive officer during the term of the agreement, serving in a non-executive capacity.
During the term of the agreement, Mr. Edstrom will be entitled to receive his base salary in effect at the time of his resignation as the Company’s President and Chief Executive Officer. Mr. Edstrom will also be eligible to receive an annual bonus for 2015 pursuant to the standard bonus compensation structure applicable to the Company’s executive officers. In addition, if Mr. Edstrom remains employed with the Company through July 1, 2017 and provides the Company with an effective general release of claims within 45 days after that date, the Company will pay Mr. Edstrom an amount equal to his average annual bonus for 2013, 2014 and 2015.
Source: www.sec.gov/Archives/edgar/data/899460/000119312515396507/d55399d8k.htm
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Post by promann on Dec 13, 2016 10:11:48 GMT -5
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e)
On December 1, 2015, MannKind Corporation (the “Company”) entered into a separation agreement with Hakan S. Edstrom, the Company’s former President and Chief Executive Officer who resigned on November 19, 2015, regarding the terms of Mr. Edstrom’s transition and separation from the Company. Pursuant to the agreement, and provided that Mr. Edstrom does not revoke his acceptance of the agreement, Mr. Edstrom will provide the Company with a general release of claims and will remain employed with the Company to provide transition and other services through July 1, 2017, subject to his earlier resignation or termination by the Company. Mr. Edstrom will report to the Company’s principal executive officer during the term of the agreement, serving in a non-executive capacity.
During the term of the agreement, Mr. Edstrom will be entitled to receive his base salary in effect at the time of his resignation as the Company’s President and Chief Executive Officer. Mr. Edstrom will also be eligible to receive an annual bonus for 2015 pursuant to the standard bonus compensation structure applicable to the Company’s executive officers. In addition, if Mr. Edstrom remains employed with the Company through July 1, 2017 and provides the Company with an effective general release of claims within 45 days after that date, the Company will pay Mr. Edstrom an amount equal to his average annual bonus for 2013, 2014 and 2015.
Source: www.sec.gov/Archives/edgar/data/899460/000119312515396507/d55399d8k.htm
Thanks for posting some facts but this still does not change my believes written above about hush money to keep him from talking about Receptor Life Science which I'm sure he had a lot to do with getting them involved at some capacity. Thanks again..
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Post by dictatorsaurus on Dec 13, 2016 10:50:37 GMT -5
If thats the case, it only serves as another testament to the herroundous contracts they keep signing where an underachiever gets rewarded regardless of how badly he f's up. How on earth would such a deal benefit the company? No matter how you look at it it's still a sour deal. I think you have no idea what you're talking about ... Hakan retired one year ago after being with Mannkind for 15 years. Is it really so hard to believe that he would have gotten a severance or deferred compensation package that would run for a certain time period. It's pretty standard practice. Just because it's standard practice Mannkind should do it too, right? Because Mankind's situation is standard, right? I would think a company that's struggling and severely underperforming and knocking on the doors of bankruptcy should behave in ways that are definitely NOT standard.
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