Based on the history and culture of this organization, Synthes is an interesting study in pathology. The Annual Report section on "Integrity" states, "Acting ethically and respectfully is the cornerstone of Synthes business. Synthes is committed to responding to the challenges to our business by operating in accordance with the highest levels of professional and ethical standards in our industry. Simply put, we must always act with integrity. Our commitment is to play by the rules and regulations applies throughout Synthes, to all countries, to all employees, and to all our business partners."
A SLIGHT CONTRADICTION, considering that Synthes has always stretched the rules indicative of their earlier educational grants to teaching institutions, instrument grants to customers to increase the purchase of inventory, and the use of education as a marketing tool. All of you know that this is old news, yet, it is the last few weeks of the year and TSB is starting to anticipate what will be news as we enter 2010. But the question must be asked, "Is Herr Wyss slipping?" This was once a venerable company that many salespeople wanted to work for, unfortunately, over the years, the Synthes management team has exhibited a lack of integrity and respect for its employees and human life. Payback is a ............. At 74 years of age, the possibility exists that Wyss is beginning to show cracks in his armor and his Picasso's. Hopefully, he will be in the spirit of giving to the families of Mssrs. Huggins, Higgins, Boehner, and Walsh considering that they are taking the fall for a decision that was endorsed by the then CEO of the company. Based on what former employees have said, Wyss is a micro-manager and nothing gets by without his approval. Carrying a 40-50 pound backpack is going to be different than carrying the weight of an eighty pound gorilla better known as the Federal Government. TSB is sure that Herr Wyss will not go to jail, but if the government wants to show our industry that this isn't another exercise in futility it will bite louder than its bark.
TSB bets that this doesn't go to trial and that there is a settlement with the government. Money can buy you a lot of things, unfortunately, it can't buy you vision.