Paul Donovan
Paul Donovan
agreement continue definitive expect position sign weeks
We continue to expect to be in a position to sign a definitive agreement in the first two weeks of January.
absolutely book consumer course crucial economy focus global main performance saying sector week year
The main focus this week is what the beige book is saying about the consumer sector in the U.S. because the consumer is absolutely crucial to the performance of the US economy over the course of this year - and that of course means the performance of the global economy.
believe close commission conclude date due easter europe few goal holiday pushes review week
The Easter holiday in Europe pushes the due date back a few days, but we still believe the Commission may conclude its review before that date, and our goal is still to close during the first week of April.
fewer goes government income pay people spending tax
Tax revenues are going to be lower. Fewer people will have jobs, fewer people will pay income tax, more people get unemployment benefits, so government spending goes up.
commission issues material number order potential request resolve
The issues that we addressed in our commitments were not material ones. At the request of the commission we made a number of commitments in order to resolve potential antitrust issues, as did Abbott.
consumers economy happening jobs less lose losing money spend vicious worried worry
What's happening is that consumers are worried about losing their jobs, and if consumers worry about losing their jobs, they spend less money -- so the economy slows down, so they lose their jobs -- it's a vicious circle.
actual behind bit changes economic picking proper taking
That's important because the actual proper economic indicators are getting a bit behind the times in picking up the changes that are taking places,
beat believe consensus estimates good met street wall
It was a very good quarter. We beat Wall Street consensus estimates for revenue, and we believe we met them for earnings.
alter belief manageable news
We factored in the possibility of something like this happening. This news is manageable and does not alter our fundamental belief in Guidant's long-term potential, which is significant and very much intact.
believe close
We believe we can close by the end of March.
businesses commodity costs empty lower moment problem production
Unfortunately, I don't think this is an empty threat. The problem for Philips is they are in such commodity businesses at the moment and production costs are much lower in Asia.
believe employees johnson offering potential proposal revised strong upside
We believe our $72 proposal is better for Guidant, its shareholders and its employees than Johnson & Johnson's revised offer. We are offering significantly more value, and there is strong upside potential over time.
few
We should have things re-stocked in a few weeks.
belief economy home investors japanese money overseas seeing work
We are seeing a belief that the Japanese economy is recovering. The Japanese are going to keep their money at home and overseas investors are going to put more to work in Japan.