Link: http://abcnews.go.com/Business/wireStory/valeant-falls-short-4q-slashes-guidance-37652781

——————–

Valeant Pharmaceuticals lost 50% of its market value today, following a
string of management miscues, including a meeting this morning that was
meant to reassure investors but did the opposite and even featured a slide
with the wrong projected earnings number.

>From a story that ran in many places via The Associated Press wire:

“It’s kind of the Inspector Clouseau school of management,” said Erik
Gordon, a professor and pharmaceuticals analyst at University of Michigan’s
Ross School of Business. “This is a fabulous example of getting everything
wrong” when you’re trying to reassure investors.

At abc News:

http://abcnews.go.com/Business/wireStory/valeant-falls-short-4q-slashes-guidance-37652781

In The San Fransisco Chronicle

In the UK’s Daily Mail:

http://www.dailymail.co.uk/wires/ap/article-3493012/Valeant-falls-short-4Q-slashes-guidance.html
_____________________
Erik Gordon
Ross School of Business
University of Michigan
Ann Arbor, Michigan