For those that doubt that 1) profitability is possible in today's business climate; and 2) Memphis cannot host new successful businesses, today's bizjournal announced that Accredo Health of Memphis posted 2.1 BILLION dollars in income in the 4th quarter alone, up from 484 million. Year end, they had 7.9 billion in revenue. A few years ago they were unfortunately bought out by Medco of NJ, and Medco's income was boosted by Accredo's revenue.
This Memphis-based entity, even if it has become a division of another city's company, should be recognized and appreciated for its success. You don't hear about it too much compared with the juggernauts, or even Medtronic-Sofamor Danek.
Of course I am trusting that the corporate behavior is on the up and up.
http://memphis.bizjournals.com/memphis/s...rround=lfn
Didn't they just lose a pretty big lawsuit? Has that hit their bottom line yet along with attorneys fees?
I remember Sofamor Danek/Medtronic lost one, I think it was an IP case. Don't know about Accredo/Medco. Hope not though...
Because that was announced in November, I'm assuming it was included in 4th qtr results. Doesn't look like it hurt the bottom line or productivity.
(02-25-2009 06:37 PM)kabluey Wrote: [ -> ]Because that was announced in November, I'm assuming it was included in 4th qtr results. Doesn't look like it hurt the bottom line or productivity.
Does that matter? Just another example of greedy corporate world they got busted and paid the price.
(02-25-2009 08:58 PM)JTiger Wrote: [ -> ] (02-25-2009 06:37 PM)kabluey Wrote: [ -> ]Because that was announced in November, I'm assuming it was included in 4th qtr results. Doesn't look like it hurt the bottom line or productivity.
Does that matter? Just another example of greedy corporate world they got busted and paid the price.
It matters in addressing your original question (post #2), whether it has "hit their bottom line yet."
(02-27-2009 02:33 PM)kabluey Wrote: [ -> ] (02-25-2009 08:58 PM)JTiger Wrote: [ -> ] (02-25-2009 06:37 PM)kabluey Wrote: [ -> ]Because that was announced in November, I'm assuming it was included in 4th qtr results. Doesn't look like it hurt the bottom line or productivity.
Does that matter? Just another example of greedy corporate world they got busted and paid the price.
It matters in addressing your original question (post #2), whether it has "hit their bottom line yet."
If they keep it up it will matter to them. No business can keep that king of practice up when healthcare will get put under the microscope under the Obama administration no doubt.
Are you trying to lecture me on something, lol? You can lecture them all you want, I'm sure they're listening. Look, I hope and will assume this is a one time thing and move on. None of my posts have been any defense of known (by me) fraudulent business practices. Since I have seen the report of the litigation, I have not asserted or highlighted any mitigating information that could be gleaned from the report; though arguments could be extrapolated, I won't do the extrapolation.
Again, let's hope this is a one time thing. And hope that the performances continue but on a more legitimate basis because that would be impressive and an asset to the Memphis business community.
(03-03-2009 03:05 PM)kabluey Wrote: [ -> ]Are you trying to lecture me on something, lol? You can lecture them all you want, I'm sure they're listening. Look, I hope and will assume this is a one time thing and move on. None of my posts have been any defense of known (by me) fraudulent business practices. Since I have seen the report of the litigation, I have not asserted or highlighted any mitigating information that could be gleaned from the report; though arguments could be extrapolated, I won't do the extrapolation.
Again, let's hope this is a one time thing. And hope that the performances continue but on a more legitimate basis because that would be impressive and an asset to the Memphis business community.
Take it easy there trigger I wasn't accusing or lecturing you of anything. You seemed to be defending them so I was speaking in general about them. My wife has been exposed to the litigation and they build it in their budget to get sued and lose but they, the industry, can't continue long term with that mindset, IMHO.
Medco stock, and before that Accredo stock has been a real money maker for me. Hasnt suffered the same fate as most of the other stocks the last year or so. Only down about 10% after it split near $100. When it was just Accredo before Medco bought them, made so much money day trading the stock, almost felt guilty. NOT!!!!
My oldest has worked for Accredo in the IT division for years.
(05-02-2009 04:58 PM)KRB Wrote: [ -> ]My oldest has worked for Accredo in the IT division for years.
My wife put in 7 years in the IT dept. there. Started when IT had 7 employees. After Medco came in, the CIO thought his poop didnt stink, she hit the road for Medtronic. Lived happily ever after. Still own a good amount of Medco stock.
(05-03-2009 05:22 PM)karter25 Wrote: [ -> ] (05-02-2009 04:58 PM)KRB Wrote: [ -> ]My oldest has worked for Accredo in the IT division for years.
My wife put in 7 years in the IT dept. there. Started when IT had 7 employees. After Medco came in, the CIO thought his poop didnt stink, she hit the road for Medtronic. Lived happily ever after. Still own a good amount of Medco stock.
I know there was some changes. Accredo has been good to her , so I guess I can't complain.