John Putnam
John Putnam
John Francis Putnamwas the art director and designer of Mad from 1954 to 1980. "Until John came to us, Mad was just a comic book," said publisher Bill Gaines following Putnam's death. "He joined Mad as a $75 a week temporary employee, and was the oldest member of the staff both in terms of age and time with the magazine."...
boston knows maybe might net pulling reflect safety scientific situation
It might reflect that Guidant knows that it has some troubles, and it may see a safety net here. Maybe Boston Scientific has signaled to Guidant that the situation has too many problems, and it may be pulling back.
boston certainly company diligence due lucky walk whoever wrong
Whoever doesn't get this company is going to be the lucky one. If I were Boston Scientific, I'd certainly find something wrong in my due diligence to walk away from this.
against forward imagine vote
I can't imagine shareholders would vote against it. No one's come forward to make a counter-offer, so they better take this.
buy constantly guys happy
One way or another someone is going to buy this company, but I don't think they're going to be happy with what they end up with. These guys have constantly over-promised and under-delivered.
believe coverage gotten irrational last march problems
Let's put it this way. Last March when I initiated coverage of J&J, I thought they were overpaying for Guidant. This was before problems arose from the recalls. I believe that's still the case. This has gotten to be an irrational price.
along far higher maintained multiple paying quality
I have maintained all along that J&J was paying far too much for Guidant. They would pay a higher multiple for St. Jude, but it would be a higher quality situation.
behavior boston came certainly closer dangerous playing price rational worth
When J&J lowered the price and came in at $63 a share, it was probably closer to what is the real worth of Guidant. The only thing I can say is this behavior, certainly the behavior of Boston Scientific, is not rational here. I just think they are playing a very dangerous game.
certainly indicative serious
It's certainly not positive. It's certainly indicative of a more serious problem.
correct franchise question sustained victory whether
It's a victory for J&J, ... I think it's a recognition that Guidant's franchise has at least sustained some near-term damage. Whether they can correct that and when they can correct that is going to be a question going forward.
breakup fee money pay picking reality somebody walking whatever
The reality is, J&J probably doesn't care, ... It has the money to pay whatever breakup fee is involved. I don't see somebody else walking in here and picking up Guidant.
base grow growth hard huge large line top
They still need to look to do as large an acquisition, with as much growth, as possible. It's a huge company, and it's hard to get the top line to grow because the base is so big.
paid until
They paid an egregious amount. There's going to be dilution until 2010.
attractive grow growing jude large line needs rapidly stimulate top
J&J needs to get the top line to grow 5 to 10 percent. They've got to find something that's large enough and growing rapidly enough to stimulate that growth. St. Jude could be a potentially attractive acquisition.
surprised walked
I wouldn't be surprised if they walked away.