Tuesday, October 10, 2006

ImClone - from where you learn how not to run yourself?

First ImClone was in the news. Not for good reasons.

Then ImClone was in the news. Many times, still not for good reasons. (Like the failed patent suit)

Now ImClone is in the news. Again, not for good reasons.

Boards have been run down in the past by rich people, and that itself need not be news.

However, what is a board if it is not independent? What is it if it is "controlled" partially or fully by one person?

In this case, that itself might not be the root cause of trouble, but how much better can a company be run if there was atleast one interested buyer in the past.

As ImClone braces for a future filled with plenty of lessons for us, I hope we learn quicker than ImClone self - obliviates...

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