1. A Mylan shareholder suit against Heather Bresch.
That’s right. Mylan shareholders are allowed to sue Heather Bresch personally for bringing down the price of their stock.
I don’t know how many of you realize this, but Mylan stock is worth less than half of what it was 2 years ago. It has fallen most sharply in the time since Heather Bresch became COO, and it really began to nosedive when people found out about her little lie. All the while, Heather continued to take home MILLIONS in compensation.
It wouldn’t be hard to find a good plaintiff, either — perhaps a sweet old West Virginia school teacher who lost a big chunk of her retirement by investing in Mylan back when it was worth 3 times what it is now.
For the life of me, I can’t figure out why this hasn’t happened yet. Mylan would pay ANYONE who had the balls to do it a million dollars just to go away. Why? To keep things out of discovery, that’s why. Mark my words — they’re scared fucking to death of discovery. Just IMAGINE what would happen if the discovery possess uncovered something like a letter from WVU to Heather Bresch reminding her that she needs to finish up her degree before her credits expire. There’s almost certainly a piece of paper somewhere that shows that she knew that didn’t finish the degree. And god help her if it ever turns up.
May 27, 2008 at 3:18 pm
Hey, HK, I was wondering if the 72 “bogus” degrees are a continuation of the former lobbyists’ “my first loyalty is to Mylan” strategy — try to make people believe that there is something wrong with CoB degrees and procedures so it does not look like Heather and Mylan were lying so blatantly to the SEC in claiming she had an eMBA. This could fly a lot better than the F&C “diminished value of degree” suit.
May 27, 2008 at 3:20 pm
it’s still considered a “strong buy”. they just blame the low price on recent acquisitions stating that it’s poised for extreme growth. i’m with you though. maybe paul speaker prove otherwise. oh i had to go there…
May 27, 2008 at 3:26 pm
Maybe Lang and Sears are buying up Mylan stock right now. I wonder what’s in Garrison’s portfolio?
May 27, 2008 at 3:43 pm
If you go to yahoo finance and type in the ticker for mylan (MYL) and scroll down to financial blogs they have an article about the mba situation.
May 27, 2008 at 3:52 pm
Stockholder lawsuits…mmm, I think you may be onto something there. Also, any idea why the MSM hasn’t broken the bogus 72 degrees yet? I may have missed, but I’ve not seen/heard a peep about that issue on any TV/Radio/newspaper outlet anywhere.
May 27, 2008 at 4:00 pm
They better think long and hard about those 72 so-called “bogus” degrees. As I said before it is appalling that ALL these folks who so dearly love their alma mater have essentially thrown it under the bus - WVU’s reputation will suffer for years to come, and the only credible way it can be stopped, if that is even possible, is for MG to step down. Moral Bankruptcy 101!!!
May 27, 2008 at 4:01 pm
And Mylan has done nothing other than remove the MBA credential from the bio.
May 27, 2008 at 4:02 pm
mylan was at 20.04 now at 12.86, heather’s got some explaining to do.
May 27, 2008 at 4:10 pm
Anonymous: Have you not heard of the Coury speeches? He has said quite clearly that she is responsible for taking the Company from $6 million to $6 billion and global. And the price of the stock is a reflection of the “growing pains”. That explanation should suffice, no?
May 27, 2008 at 4:42 pm
Any sweet, old lady investing a chunk of her retirement in equities at such a late stage in her investment plan is pretty batty.
May 27, 2008 at 4:56 pm
I think the failures currently going on of this administration have possibly already irreparably damaged the institution. I am shuddering to think of all the talent that is already taking other positions elsewhere and will be part of a pretty massive migration out and away from the school. There is no phoenix in sight, even if Garrison does tender up a welcomed resignation, we are in for more political mishmash = same old, just a bunch of BS. Where Greatness is Long Gone (and will never be allowed to live.)
May 27, 2008 at 5:13 pm
To Rainy person earlier today, Don’t panic, my sources say MG will resign. This comes from hospital administration and also from the UHA side. Of note, Bailes had 5-6 spine cases in the OR today, more than he’s done in a while. He must be figuring he better earn his salary. MagicRat are you out there?
May 27, 2008 at 5:13 pm
What bothers me the most is the total silence on every leader’s part as to ethics. The silence is deafening.
NOONE, not any of the people involved in the fake degree, not the panel of investigators, not the governor, not any of the BOG, not Mylan execs, not Bresch…NO leader has uttered the word. As though it’s disappeared from the dictionary. Not even a concept, apparently.
Prove me wrong. Cite the statements.
Send in the clowns.
May 27, 2008 at 5:23 pm
Clowns, indeed. I agree with Karen - the silence is deafening. Bury your head in the sand, ban any comments or conversation about the situation and it will go away, at least that seems to be the thinking on this one.
May 27, 2008 at 5:25 pm
Oh, and I have pointed this out before but CEO of Mylan, Coury, has said she did not need the eMBA for her position, that he and the Board and Management stand behind her and that as far as he is concerned, the case is closed. Really!
May 27, 2008 at 6:09 pm
certainly has taken you all off base………………is Garrison still here?……..is the HSC still screwed up…….like i have said multiple times in here, “dont worry all,another successful football season is right around the corner”….go mikey…….
May 27, 2008 at 6:10 pm
I actually qualify as a retired sweet (not sure about that one) old (and don’t admit to that) school teacher lady who invested in Mylan as a long-term stock purchase that would hopefully provide some additional security and income in my retirement. I owned shares in Mylan from 1996 until the stock started a freefall last year and subsequently this disgusting episode began to become a public disgrace. I was ashamed to tell anyone I was a stockholder.
I’m certainly a candidate to participate in a stockholder lawsuit, but feel like those who invest in stocks know (or should know) what the risks are.
So, Lawbot, I don’t think I’m batty. Generics are a smart choice for investing in the booming health care market. I did well on the stock until there was a change in management and someone came up with the idea to purchase the Merck generics business at a cost that equaled the market value of the entire Mylan company. I quit on the stock while I was ahead and when it was obvious that this was not the same company I originally invested in. It will be years before the company recovers from this.
May 27, 2008 at 6:43 pm
Back to the deafening silence already mentioned: It’s the silent side of the spin. “The group that met at WVU” instead of “My esteemed faculty and colleagues” the list goes on. MG even said somehwere that he is also angry and disappointed about what happened in the infamous meeting. Really? If it’s unethical, then fire someone, Hardly a mention as to how many years HB was a complete misrepresentation - better to say “she really believes she has an MBA.” HK pointed out “business associate” instead of MG’s boss.
How do I know my own record won’t just disappear? Who is guarding the store?
May 27, 2008 at 7:48 pm
Agatha, you’re entirely right. You dumped the stock; you’re not batty.
May 27, 2008 at 8:24 pm
MG isnt happy?
He isnt happy they got caught.
Something about that weasel screams “I am the epitome of the expression chit-for-brains…and you will do well to remember so”.
Trusting him to run a flag-ship university? I wouldnt trust him to watch Barney videos with a 2 yr old. I would be afraid he would mess himself, and set a bad example for a kid I am trying to potty-train.
We wont even get into the pool of drool, that I am sure collects anytime he is stationary for more than 3 minutes.
May 27, 2008 at 8:34 pm
Steph - I think the main point is the MG is not wise or experience enough to foresee the consequence of tasking Walker and Macia to remain involved in the process. If he is angry or disappointed it should be with himself. He set the wheels in motion when he did anything other than the Ms. Bresch to call A+R or the provost’s office for student affairs herself. No other person would be handled that way, and no person ever should. MG has noone to point a finger at, and as hard as he tries those of us who understand the process will never accept his or Goodwin’s statements of innocence. He was guilty the minute he orchestrated any part of even the beginning of a response. Unfortunately, this is lost on the general public, and the BOG and MG will attempt to use that to weather the storm.
May 27, 2008 at 8:43 pm
Agatha @ 6:10 I think you’re sweet too. But I won’t tell anyone. Don’t want to ruin the little ol’ schoolteacher’s reputation.
May 27, 2008 at 8:49 pm
Not sure that the “general public” has the strongest or most enduring voice in this matter.
In a political electon, yes.
For WVU, not so much. Faculty Senate, many alumni, including “distinguished” alumni, donors, student eds. at DA, etc,
actually do shape opinion about WVU. Parents.
Governors always control state universities. But they are a special place in the hearts and minds of all the constituencies..maybe the less informed public won’t weigh in as much as the very articulate and very angry WVU community.
May 27, 2008 at 10:15 pm
me:
I know what you mean. I’m too tired to look up the MG quote about being so darned upset with what happened, like it was a tornado or a hailstorm, or something that was no one’s fault! And another article -again too gone to find it again - coporatization of academia - what went on with the cronies would be expected and acceptable in corporate America. Another reason why they don’t understand or just deny what they did was so wrong. Or he just dreamed an enemy newspaper would sniff around.
Wolverine, old buddy - you have great perception from your lofty distance. And you hit on it - the picture of all pictures - the pool of drool! You are a genius. So THAT’s why he didn’t stay for the meeting and “delegated” everything.
May 27, 2008 at 10:17 pm
That should be “he just NEVER dreamed an enemy newspaper . . .
May 27, 2008 at 10:29 pm
Karen - agreed, we need to make sure that those vocal and enduring voices remain on task. We also need to anticipate the spin tactics and develop responses. I assume that many here have strong press connections, and it would be good to get them to delineate some of the finer points of the matter so that the general public better empathizes with our more specialized view of things.
That said, part of the clarification might be to stress that we (whoever we are) do not want the same self-serving autonomous control of WVU that the governor currently enjoys. We simply believe that the folks who are experts in education should have some say in how an educational institution is run. I don’t think that this is the perception widely held, mostly because of Goodwin, et.al. press campaign. We need to deal with that.
That, and the “the Bresch degree was one of many” BS.