Bruno is lookin' for you, Tom. He is bored with Martin Grass. He wants a new bitch with a plumper bottom
The Gold Standard Winner for Chicken-Shit
The Gold Medal Winner is CVS-Caremark
CVS has readily disclosed that the company is being investigated by the Federal Trade Commission and more than 20 states.
No shit, Sherlock.
The $26 billion merger of CVS and Caremark violates antitrust laws, in the opinion of many astute legal minds and even more astute drug store industry minds.
This merger could not happen now. It was whisked on through during the industry ass-kissing GW Bush administration. Unfortunately, the Supreme Court as it is now constituted would probably support CVS-Caremark.
(For those of you independent owners who are staunch conservatives, you are idiots. You are poverty level little guys to the conservative powers. They do not want you to win. They are dedicated to corporations.)
Do you think that Walgreens could have faced CVS-Caremark down in that recent cage fight unless WAG had evidence of CVS-Caremark’s culpability?
The emperor has no clothes and the emperor hated it when WAG pointed and said, “You have a wart on the end of your nose and we are going to nail your ass unless you get fair and sign reasonable contracts.”
I personally hope that the new Wag/CVS-Caremark heavily favor WAG and that every other company can duplicate them.
CVS-Caremark’s position in tenuous. They are on a tightrope and they know it. Any shift in the wind can knock them off. I am not a mean person, but CVS deserves to fall as far as Rite-Aid. But that could harm our industry. It might not be good for our industry to have companies that own almost 12,000 stores be failing and disgraced companies.
(If you sold one share of Rite-Aid, you couldn’t even get a bottle of Corona Beer during Happy Hour at Salsa’s on the seawall)
There is a little butterfly flutter building in Texas that could turn into a Category Six for the 18th largest corporation in the United States. A group of Texas pharmacies have filed suit accusing the nation’s largest pharmacy healthcare provider of violating racketeering and privacy laws.
This is not a minor inconvenience for CVS-Caremark since the Texas group quotes extensively from CVS plans, presentations and even a job posting for a data analyst or data recovery for mac specialist. Is this enough? Is it a smoking gun?
Careful if you own CVS stock. It’s around $31.00 today. One little hint of anti-trust action by the FTC and the mutuals will be hauling ass.
One thing about the Feds. Violate the law is one thing, but to continue to act like a teenager on marijuana is another. CVS is not bullet-proof. Embarrass the Feds and they will show you how small your 19th biggest corporation really is.
CVS-Caremark was also recently asked to provide a confidential briefing on its merger to a Senate antitrust subcommittee, reported by Bloomberg news. If I was Tom Ryan I’d be instituting my golden parachute and get my ass oudda there.
The Texas lawsuit states that the practice of CVS-Caremark in violating the privacy of patients and unfairly competing is well-documented. The lawsuit accuses CVS-Caremark of gaining too much control over patient information, including files from independent pharmacies that have to hand over patient information for insurance disputes.
The Texas lawsuit shows CVS plans as detailed in a slide from a presentation by Troy Brennan (Bullet-proof, Troy?), the company’s chief medical officer. The slide shows how the company plans to develop a “Consumer Engagement Engine” with “A comprehensive view of the patient.” The computer screen would show her name, demographics, drug history, prescribers, health behavior (including suboptimal adherence) and communication preferences.”
CVS-Caremark had nearly $100 billion in sales in 2009.
We all know about the chicken-shit behavior. Sending letters to people with CVS-Caremark cards stating that they had to go to a CVS store if they wanted a 90 day supply. WRONG. Promising Medicare Part D one price and charging them a bigger price. They admitted the ERROR, but, of course, they will keep the money.
CVS-Caremark is a dirt bag company. They deserve to be in the gutter with Rite-Aid (Stock Price- 91 cents a share at 4:35 PM CDT 10-4-2010)
But what does it say about our industry if we have only one of the huge drug store companies on the high road? What does it say about us if Wal-Mart is a beacon of ethical and fair pharmacy business practices? What does it say about us if grocery store pharmacies are more ethical than 12,000 drug stores?
If you and I flaunted the law like CVS-Caremark has, we’d be hiding in the corner every night when we heard Bruno screaming, “Where’s my bitch?”
Rite-Aid went down into the sleaze, screwed the goose, embarrassed the Feds and CEO Martin Grass, the son of the company’s founder, is serving ten years in medium-security Butner Federal Detention Complex in North Carolina.
Ten frikkin’ years. Tom Ryan, take the money and run.
CVS-Caremark is the clear winner of the Gold Medal in Jay Pee’s Gold Standard of Chicken-Shit Awards.