Thursday, September 22, 2011

1865

Fellow bloggers, the last forty-eight hours have been interesting to say the least.  The title of our post "1865" signifies the one day damage that Nuvasive has incurred by dropping 12% in share price upon the market's and investors reactions to losing the verdict to Big Blue for infringing upon patents that are "owned" by Medtronic.  1865 is not about the year Abraham Lincoln was assassinated, nor about the year that we as a nation abolished and prohibited slavery. Depending upon the next phase of litigation, it might be a price, that one day, investors yearn for.  For those executives or other platforms that deny this blogs credibility, this is the year of living dangerously. Thank you. The reaction from those in the industry, including Alex Lukianov and his minions of analysts' was predictable.  Would any of our bloggers expect otherwise?  Your vigorous comments say it all.  Even Dr. Gary Michelson, a blast from both the plaintiff's and defendant's past, was thrust into this melee, and was quoted as saying, "people have to be respectful of intellectual property."  And if there is one individual that knows about burning the midnight oil with his cadre of IP lawyers, it is Dr. Michelson.  Whether one agrees with his past, one must be respectful of his legacy.

What does this say about Nuvasive, a company that has built its reputation and mystique on the XLiF and neuro-monitoring?  What does it say about Alex?  Has he lost his panache?  Highly unlikely.  What does it say about investors?  Are they gullible, believing the "hype" that analysts' profess about their favorite spine stock du jour?  Where is that guy that predicted on September 2, 2011 that the stock will go up 40% over the next weeks and months?  And what does it say about the analysts'?  "Painful, but manageable, bloodied, but still standing." Is that all there is?  How does a company predict on becoming a billion dollar baby, when they are spending tens of millions on legal fees battling an assault on their very existence?  If anything this litigation is far from over, and unfortunately for Nuvasive, it is going to take a little longer than predicted on becoming that Billion Dollar Baby.  This verdict was more than a bump in the road, it is a set back. Alex will tell you otherwise because his job is to be the spinemeister and he can play with house money.  The verdict will be appealed with vigor, while Nuvasive anxiously awaits Medtronic's next move.  TSB knows that some will respond that this is the cost of doing business in a highly competitive environment.  But, does this bode well for NuVa?

A company of Nuvasive's size can be sold.  But now, any buyer will have reservation until this litigation plays out. The fact is that until this litigation is resolved, why would anyone risk buying a portfolio that potentially will have royalties tied to Medtronic?  Realistically, at this phase of litigation, it looks like Medtronic is in the drivers seat, at least for the time being.  How long will the shareholders and investors continue to provide a vote of confidence for the leadership team at this company?  These are legitimate questions. In retrospect, many have raised questions regarding Nuvasive's quest, back in June 2011, to raise $325 million through the issuance of Senior Convertible Notes.  Yes fellow bloggers there is much to speculate about, but the reality is that the sun will rise and set today, and NUVA will not shut its doors, let's be realistic.  But what this verdict does is create a dynamic to how this company will proceed, and whether the leadership team here has the longevity to sustain multiple blows as Phase 2 and 3 develop in MDT's quest to utilize the patent laws to its advantage.  Regardless of your love or disdain for the Big Blue, let's be honest, if you were in their place what would you do?  In closing, Nuvasive is lucky that there wasn't an injunction placed on the sale of the products in question.  This brings back memories of the old days when a company named U.S. Surgical laid down the gauntlet and challenged J&J/Ethicon's market presence, only to be repelled like a fly on someone's ass.  Sometimes, history has a way of repeating itself.  So what's Alex's exit strategy if all else fails?  You know, TSB once had the pleasure of meeting Lauren Hutton, and her motto was, "don't ever let them see you sweat." Good Luck and Good Night.

183 comments:

  1. How much did MSD pay for the Michealson patents? Who has more cash to spend on litigation? OK - now who is the winner. The reality is this issue is more of a story about the "shareholders". How many quality people did nuva hire over the past 5 years with the promise of big payoffs via stock options. Alex, Keith and Pat are laughing at you all. They are the only ones who benefited from your blind loyalty. Look around you - how much cash has been wasted on NSM's - rolling out the celebs, alex's notorious xmas party, or useless programs like the better way back.

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  2. One thing for sure, while there is ongoing litigation, there will be more transparency and accountability demanded from many that have put their money or belief in this company. Laughing is great therapy especially when you're nervous.

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  3. Stupidity combined with arrogance and a huge ego will get you a long way. ~

    This quote sound like anyone who might be involved in this situation? When this is the foundation of your strategic business plan, well, then you end up in a situation similar to Nuvasive's.

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  4. Looks like their goal of becoming a $1B company in the near term may have just hit a significant snag??

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  5. how will this affect Globus going public?

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  6. Curious to know what other patents nuva infringed upon, that MDt will go after in phases 2 & 3?

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  7. With the news of Globus going public... it's evident they are going to acquire NUVA at the earliest opportunity.

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  8. I'm sure Nuvasive has a decent amount of cash, but a 100+ million payout for a company that has sales of aprx. 4x that annually is going to be a huge blow. Does anyone have any realistic expectations on what this will do to Nuvasive. I think that Globus' lateral system will be next on the litigation block.

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  9. "What does it say about Alex?  Has he lost his panache?"

    Mojo. It's called Mojo, Baby! Yeah, its taken a bit of a hit, hasn't it?

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  10. Globus' new lateral system is already under litigation, along with Coalition and Independence.

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  11. It's amazing to see how many jump on the band wagon, when something goes a rye!!! NuVa will be back to rising above rest as promised !!! Now is just a better time to invest for the small people. If you believe in something you fight for it. Think About it !!!

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  12. 9:17
    I am glad Alex's pep talk worked on you. There is no bandwagoning here, just facts to squash a bloated egomaniac.

    Get out of your sales guy mentality for a moment and question your executive leadership. Here is what you should think about: The cash in the NuVa bank accounts is on LOAN. Tell me how NuVa recovers from a debt standpoint.

    Cash ~%500M

    Debt $101M MDT
    Debt $230M Conv Notes due 3/2013
    Debt $530M Conv Notes due 2017

    Annual positive cash flow ~$20M goint to $5-10 based on new royalties.

    Potential debt: 6 additional MDT patents w/ royalties

    Keep selling the dream and telling yourself "this does not affect me day to day."

    Big Big Really BIG!

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  13. Correction on third Debt: $350 not $530

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  14. "...when something goes a rye!!!"

    That's not a simple typo, that's the result of generations of lead ingestion and inbreeding. This board attracts a lot of that. Ride that lightening, TSB! It speaks volumes on the quality of this blog.

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  15. No, that's probably just an ipad's autocorrect feature.
    I hated it, so turned mine off.

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  16. Check thst...now I think you were probably correct.. I see it was a Nuva rep that posted that. Their KoolAid must have been served to them in cheap Chinese cups with lead contamination. Carry on..

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  17. No doubt this is a setback for Nuvasive. Will hurt them in aquisitions/cash flow. But this lawsuit is not over, far from it. Nuvasive will fight Tuesday's verdict in appelate court, and there are still 2 more phases to go. That being said, the silver lining is the neuromonitoring IP which was ruled in Nuvasive's favor. Neurovision separates XLIF from everything else. Sure, Medtronic had the Cage patent from Michelson and either chose to do nothing with it, or tried and failed. I've heard both sides. XLIF works and has been a huge success in large part due to the neuromonitoring component. Cages and retractors can be re-worked and re-designed. As can cervical plates. Just look at the 150+ cervical plates on the market. Medtronic may have won the battle of phase I, and Nuvasive is certainly paying for that and will continue to pay for the future. But long term, the Lateral war that has been waged will be won by Nuvasive (or whoever aquires them) for no other reason than the monitoring IP, a key differentiator.

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  18. Its Over Johnny...

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  19. Hello fellow Americans, I simply wanted to take a moment to address w/ everyone these (3) very important things:

    1. Nuvasive is a great co. & Alex is a tremendous leader. I don't see how this co. did anything wrong regarding its patents,,??
    2. The War on Terror was real and "weapons of mass destruction" do REALLY exist.
    3. There was no "factual" evidence that proved that the ballot boxes in FL were rigged during the 2000 election.

    P.S. - Alex, will I be invited back to speak at next year's NSM?

    Regards,

    George W. Bush

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  20. The Michelson patents are formidable. That why MDT spent so much for them. If enforced, this will just be the beginning.
    NUVA is wounded game, bleeding in the bushes. The question is, will they bleed out, will other scavengers pull out the carcass, or will MDT pull them out take them back to corporate headquarters and mount them on the office wall as a trophy?

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  21. This watch costs more than your car. I made $970,000 last year. How much'd you make? You see pal, that's who I am, and you're nothing. Nice guy? I don't give a crap. Good father? Frig you! Go home and play with your kids. You wanna work for Nuvasive - close! You think this is abuse? You think this is abuse, you sucker? You can't take this, how can you take the abuse you get on a sales call? You don't like it, leave. _I_ can go out there today with the materials you've got and make myself $15,000. Today! In two hours! Can you? Can YOU? Go and do likewise. A-I-D-A. Get mad you son of a bitches. get mad. You want to know what it takes to sell XLIF? It takes BRASS BALLS to sell XLIF. Go and do likewise gents. Money's out there. You pick it up, it's yours. You don't, I got no sympathy for you. You wanna go out on those sales calls today and close, CLOSE. It's yours. If not you're gonna be shining my shoes. And you know what you'll be saying - a bunch of losers sittin' around in a bar. 'Oh yeah. I used to be a spine salesman. It's a tough racket.' These are the new leads. These are the Globus leads. And to you they're gold, and you don't get them. Why? Because to give them to you is just throwing them away. They're for closers. I'd wish you good luck but you wouldn't know what to do with it if you got it. And to answer you question, pal, why am I here? I came here because Alex asked me to. He asked me for a favor. I said the real favor, follow my advice and fire your rotten butt's because a loser is a loser.

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  22. The odds of NUVA continuing to limp along is not encouraging. The fourth scenario is for another predator to take them down.

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  23. Wow!! 9:17 drank all that kool-ade!! Time for a reality check.

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  24. I'm assuming that Alex, Pat and friends were at MDT at the appropriate time and knew about the lateral approach IP. In that case, It would seem that shareholders have a cause of action against them regarding fiducial responsibilties and due diligence. If that's true, Nuva is in for a long, hard ride.

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  25. "Absolute Responsiveness" Has been the mantra for Nuvasive. Let's see what their next step action plans are.

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  26. 10:11, your post reminds me of a classic 'monologue interieur', as they call it in psychiatry. There are drugs for that.

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  27. They may be that, or not, but its not as bad as being pretentious by use of foreign words in order to try to impress....Now scurry along and sell those drugs that you are supposed to be detailing....

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  28. Ok Mr. 10:11. You go scurry along and remember, really remember when in your gutter reflections. It was better to be on the other side when you really meant something. It always comes around and yours is lurking close by. BOO! Got Ya!

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  29. Watch out!! 800 pound gorilla is waking up from it's slumber. Globus is next!!

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  30. Why the hatin on 10:11. That's a classic take on a classic monologue. Love it. But then, I'm from Mitch and Murray.

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  31. Does this lawsuit take out all potential lateral competitors? Are the others really going to go build new sets and spend money on R&D when they have no monitoring, no retractor and no cages for lateral? This is what I see...MDT just put a freeze on everyone else's lateral R&D efforts and NUVA gets to play it out, royalty or not. How many companies working on a lateral and are about to go full launch are crapping themselves right about now because they know the cage has to sit on the cortical rim and they have to have a muscle splitting retractor?

    If this never happened and Nuva was about to begin losing market share because of these new launches, well let's just say...that's not happening anymore.

    If Nuva does win on a federal level then they have money in the bank gaining interest, and an even more impressive lead on the lateral market share as well as first class monitoring. Buy low and sell high fellas. Business is risky and risky business makes the most return!

    Anyone agree?

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  32. The Karate Kid (1984)

    NuVasive: Daniel Larusso
    Medtronic: Johnny Lawrence
    Lateral Cage: Ali Mills
    Pimenta/XLIF: Miyagi
    Michelson: Sensei John Kreese

    Final Act:
    Johnny has just done his best "Sweep the Leg"
    Daniel-Son is hobbling, limping, seriously hurt. Many think he cannot go on.

    Then this happened:

    http://www.youtube.com/watch?v=DnvXpLOzKeQ

    Crane Kick: NeuroVision!

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  33. Folks, not really sure that MDT cares about anyone entering the lateral space. Perhaps there was much more to this lawsuit than simply IP,, ever think it might have been a little bit personal?

    MDT scored big on this one & w/ their victory, surely sent a shot across the bow of Nuvasive and simply said,, "How bout' them apples"?

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  34. The cage patent is impressive in it's breadth for so few words. Michelson and co. could figure out a way to push through a patent on gravity.

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  35. 12:49, Michelson took on gravity after he had secured the wheel. Smart dude, but did he ever abuse the system and scores of young enthusiastic researchers.

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  36. Put him in a body bag johnny!

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  37. 10:26

    Alex, Keith and Pat were gone from MDT when the Michelson litigation heated up. However, prior to investing in a development project you always check to see what IP you might step on. Too big of a risk to skip the homework. Perhaps the risk was worth the reward. The lads have really cashed in at NUVA.

    "The kid was hotdogging. He knew the risks."- Zonker Harris at the 1980 the Gerald R. Ford Summer Biathlon Golf and Tanning Competition

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  38. Great history of Michelson, Medtronic, Sofamor Danek IP fight here http://www.bakerbotts.com/file_upload/EgbertArticle.htm

    Michelson's passions include saving stray animals and suing people. He is very good at both. He used to have posse of attorneys that beat up on Medtronc and made him into a multimillionaire. Those same attorneys joined in on the fight against Nuvasive. They have won this argument before and will continue to do so. Now Michelson has a posse of investment bankers managing his money in Los Angeles.

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  39. Alex, Keith, and Pat may have been gone from MDT when the lawsuits started flying...but they were there when the deals with Michelson were inked and the development projects were happening. They're going to have a hard time pretending they didn't know he had a lot of claims surrounding interbody cage technology.

    What shareholder wants to sign up for a class action against the three of them?

    At best they were negligent in their duties.

    More likely, given the immense personal profit they received from a stock price which was valued based on the perception that they had invented the lateral approach, consider this definition of their conduct:

    malfeasance:
    wrongdoing or improper or dishonest conduct, especially by a person who holds public office or a position of trust.
    Cf. misfeasance. — malfeasant, adj.
    See also: Crime

    btw, where was that in-house patent counsel in all this? Sleeping on the job, or what?

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  40. Alec Baldwin, Glengarry Glen Ross

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  41. Hmm....let's connect some dots:

    If this is true:

    9:17
    I am glad Alex's pep talk worked on you. There is no bandwagoning here, just facts to squash a bloated egomaniac.

    Get out of your sales guy mentality for a moment and question your executive leadership. Here is what you should think about: The cash in the NuVa bank accounts is on LOAN. Tell me how NuVa recovers from a debt standpoint.

    Cash ~%500M

    Debt $101M MDT
    Debt $230M Conv Notes due 3/2013
    Debt $530M Conv Notes due 2017

    Annual positive cash flow ~$20M goint to $5-10 based on new royalties.

    Potential debt: 6 additional MDT patents w/ royalties

    Keep selling the dream and telling yourself "this does not affect me day to day."

    Big Big Really BIG!
    September 22, 2011 9:34 AM

    And the stock price was falsely inflated as 3:36 states, aren't those notes also issued falsely?

    If the top guys were aware of all of that....

    ...does that make Nuvasive a sort of an Enron or Madoff situation?


    Were they just stupid or criminal in their actions? Who wants to weigh in?

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  42. 3:42 See the earlier post, perhaps on the previous blog that Madoff may actually make a special guest appearance at NUVA's next NSM.

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  43. This blog should be renamed the nuvasiveblogger.com Every post by TSB degenerates into NUVA bashing.

    Granted they are the largest pure play spine company and some attention/criticism should be directed their way but jeez it's getting old.

    No doubt Tuesday's verdict deserves coverage but try to get the facts right before you fire off rants (660K not 660M).

    Let's hope NASS reports revolve around something other than NUVA and Globus going public.

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  44. 3:54 Are you aware that you've been brainwashed? Every previous blog & post on here was well warranted as proven by yesterday's verdict.

    As for your ingnorance/ naivity, you should check yourself my man and try to see the forrest thru the trees because Nuvasive's troubles have existed for some time now, and don't look to be going away any time soon.

    Bash on fellow bloggers!!

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  45. Not brainwashed ...typical response levied against anyone looking for sanity. I stated that the verdict deserves coverage but most seem bent on personal attacks and posting internal emails.

    Look at all the posts over the last 6 months. All, regardless of the topic, degenerate into NUVA bashing.

    Take away Globus and NUVA and your left with a 2 horse spine race. MDT and JNJ (assuming synthes merger is finished next year). Be careful whatbyou wish for. If that happens MANY field based reps/managers are out of a job ... Either because the job is eliminated or the comp plans become so depressed it just won't be worth it anymore.

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  46. This comment has been removed by a blog administrator.

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  47. Back to an earlier poster's comment. Does this literally mean lateral is exclusively MDT's now? The cage patent is abusively broad. People say neurovision will somehow save NUVA but I have seen plenty of cases where they have done lateral approaches using other neuro-monitoring systems.

    MDT will put NUVA out of business. The above posters are correct that the cash flow chart will not bare the fruit necessary to keep talent at NUVA. I know enough about the spine business to know that its 80 % people and 20% products.

    What actually is funny is that while MDT leadership continues to prove themselves inept at the function of operations, global sales strategy and risk management they are exceptional at M&A and patent law. Yet the stock still suffers.

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  48. This comment has been removed by a blog administrator.

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  49. MDT is painfully inept at moving forward any new tech and the reps continue to defect.
    NuVa is a one trick pony and surgeons are finally beginning to see the lateral approach for what it is. Their sales are ebbing.

    As I stated on an earlier Blog:
    Who really gives a shit ?
    Let them both plunge their daggers simultaneously into one another's hearts.
    In the end it's all the same.

    It's over Johnny .....

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  50. holly shit 10:11am you need some serious meds or better yet, an ass whoppin! And hey, can I barrow your watch, Im heading out with your wife tonight and want to look the part. You know, some fake ass trying to be "someone". Take your car salesman attitude and can f**k yourself.

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  51. Grand opening! Grand closing!!!

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  52. TSB You are a talented writer. I enjoy your blogging and appreciate your style. Thanks for the time and effort you put in. Seriously.
    Don't let the naysayers get you down...

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  53. Ditto on the meds thing... first round of a long drawn out personal grudge... take the emotionality out of this fight and things will be different... but definitely stumbled the one trick pony... what color does black and blue make? purple I think...

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  54. Also heard Nuvasive lost a very prominent Lateral surgeon in the northeast this week to a much smaller company. The hits just keep coming and coming.

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  55. Relax, anyone ever seen Glengarry Glen Rose, 10:11 was quoting it, with a few NUVA changes.

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  56. that's what 3:40 said, it was Alec Baldwin's character and it's Ross not rose

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  57. The fact that there are "supposed" spine salesman here that do not recognize the GlenGary/GlennRoss reference by 10:11, clearly shows where the industry has gone. Young punks without a clue!

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  58. Magnum PI? LMAO. What are you 60? Try and pull something out of the current era, but I'm assuming you have dial up, a rotary phone and an 8 track

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  59. ...the Company will continue to spend approximately $6 million in legal expenses for full year 2011 associated with this trial...

    The replay dial-in numbers are 1-877-870-5176 for domestic callers and 1-858-384-5517 for international callers. Please use pin number 379341.

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  60. TSB entitlement is killing our business! Post on that!

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  61. coffee is for closers

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  62. Patel??? F-ing Patel?????

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  63. Ricky Roma: "Patel"? F you. F-ing Shiva handed this guy a million dollars, told him "Sign the deal!" he wouldn't sign. And the god Vishnu too, into the bargain. F you, John! You know your business, I know mine. Your business is being an asshole. I find out whose f-ing cousin you are, I'm going to go to him and figure out a way to have your ass - f you!

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  64. MSM...who cares what the analysts think? Stop even referencing them. They really have no idea what's going on and dine on plates full of stale information - or worse, misinformation. They reside at the bottom of the 'stupid stick'. It works like this: at the top of the stick are the smartest guys in the room - the idea guys, the innovators, the true entrepreneurs. They're really the only ones who figure something out that no one else has been able to do. The angel investor or venture guy is the next smartest. He gets lucky and happen to hear the pitch and say, "I'll take a risk". At that point, the market is in motion. Now the new company writes whitepapers and sends the reports to Garner or Forrester who then pretties them up and proclaims "we've got us a new market". Well no shit, the entrepreneur already figured it out and the venture guy backed it! And then, the dumbest guys are the public market analysts who do nothing. They're so far removed from reality…they don't know when things are going to change. The dirty little secret is that CEOs have absolutely no respect for them. They've got a dozen or so snot-nosed 29 year-olds with Wharton MBAs sitting on an earnings call asking vague, stupid questions and in return, getting vague answers through fake smiles and gritted teeth. Everyone then goes back to their firms and gives their buy/hold/sell ratings and attmpts to whore out for a 20 second spot on CNBC.

    Did Nuvasive play the role of the idea guy or did they simply steal the idea? Would MDT have developed XLIF technology to the extent it exists today in the absence of NUVA? Is Medtronic stifling innovation with their lawsuit? Does this case make both companies look like shit?

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  65. Alex, Keith and Pat steal the idea and build a solid company off of it?... I don't think so. Anyone who knows any one of these guys personally knows that not one of them would let the other do this, much less collaboratively. That's one conspiracy theory that will never hold water or prove itself out.

    These guys built something great together and now older brother is trying to claim the fame...period end of story. No koolaid here...none. If the IP holds in appeals court then we're looking at something much bigger here which has nothing to do with any of these three guys and their actions.

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  66. Nuva stock price is the same price it was in 2006. Every useless stock option for the majority of employees was the biggest scam of all. Perhaps you will all get an invite to the broadway show Memphis as a consellation prize. By the way, you have to pay the full price for a ticket and may have to grab the seat in between Larry Butler and Roger Yapp LMFAO. Enjoy and keep holding on to those options as they approach $5.00.

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  67. Hey 11:02

    Don't hate on Warton just because they are number one business school.

    And by the way I didn't go there...went to John Hopkins and have a Princeton MBA.

    You're probably just some pumped up Stryker rep who thinks b/c he was a big deal at some D III football program you're all that.

    That's why I'm running a division of a successful spine company, and you're still carrying sets through the back door at some county hospital in Iowa.

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  68. Sure, 5:39, sure. I'm 100% positive that you went to Princeton and Hopkins and are running a division of a successful spine company.

    If you were an actual Ivy League guy, you'd know how to spell Wharton.

    LMFAO

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  69. For all of you dopes on here who continue to talk about lateral surgery as if it was some sort of revolutionary discovery,, guess what, it wasn't. Lateral surgery has been around for a long time, Nuvasive simply needed something to hitch their foundational technology (Neurovision) to in order to generate revenue. They didn't create anything "new" or a new, revolutionary approach. Lateral based approaches had been around forever, Nuvasive simply said, "Hey, maybe our silly little light box can help do it a little better". And guess what, every other company out there has now proven that you don't need Neurovision to do it.

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  70. 5:38

    You forgot to mention Tery Rich. Wouldn't he be sitting between Roger & Alex?

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  71. 6:27
    Excellent point. Let's all remember what the Big Three were originally working on early days: 1) Neurovision - box with a red & green light, 2) Spine Arc through Kambin's triangle.

    Once Spine Arc failed, there was desperation for the Big Three to have anything work in the company and XLIF was born to facilitate NV. For some reason it was chosen to ignore the IP.

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  72. 6:06

    Interesting that you criticize my spelling when you can't even spell Ivey League!

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  73. 6:37, you really should just stop posting. Ivy League is spelled, IVY.

    Hopkins, Princeton? Yeah, you bet. Nobody from those schools would spell Ivy that way.

    ROTFL

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  74. 6:55

    neidermeyer

    so you think you're a big shot b/c you did some military ROTFL program??? what does that matter in spine? if i had a dime for every arrogant ROTFL guy i knew when i was at jon hopkin i'd be a rich man by know. thought they were so tough just b/c they did calisthenics every morning before class.

    'nuff said!

    johnathan hopkins college class of '95

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  75. MBA my ass. It's spelled Wharton, not Warton. Any "Princeton" fake would know that.

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  76. You guys realize your chain is being yanked by this EyeV Leeg guy by one don't you? Amazing how many dopes have no ability to sense sarcasm. How are you with your customers?

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  77. "by now don't you"....cursed auto correct

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  78. 5:39

    Princeton doesn't even have an MBA program. They offer a Master of Finance at the Bendheim Center. When I wrote my post, I should have reserved a spot on the stupid stick below the public market analyst for you. Please go back to cafe pharma where you belong.

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  79. Come on MM...please put my explanation of what happened on there. First of all it was quite humorous. Second of all, I actually really respect what you do, but I do think there is a tendency for people to be very harsh and disrespectful to each other on this blog. Too many people taking themselves way to seriously. I was trying to bring that to light in a light-hearted manner.

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  80. We're adding a little something to this month's sales contest. As you all know, first prize is a Cadillac Eldorado. Anybody want to see second prize? Second prize is a set of steak knives. Third prize is you're fired!!

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  81. There will no humor on the Spine Blogger! Got that? Now back to serious posts ya animals!

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  82. 5:39

    Take it easy, why that poor blogger was just a kid and me...hey I'm a lover, not a fighter.

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  83. Hey you IVY League wannabes, what does any of this have to do with the biz we are in? While you sit "trying to flex your brain muscles" you are making us all the laughing stalk. Great job guys/gals.

    And just an FYI fellas, just cause some of us don't have the time to sit around watching Alec Baldwin, Glengarry Glen Ross movies doesn’t mean we are a punch of young punks in this biz. Some of us do have lives. My run has been 13 years and it’s still going strong. Why, cause I have built solid relationships and trust with my customers based on ethical selling/consulting.

    And I love the guy that said Teri Rich would be right between Roger & Alex...more like between their legs!

    Good selling.

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  84. 8:05

    it has precisely nothing to do with our business. i think that's the point. but seriously are you intoxicated? your post makes no sense. do you mean that the ivy league wannabees who are behind these posts are making all ivy league wannabees (by your own implication, yourself included) look bad? to call yourself out as an ivy league wannabee is just sad. you're worth more than that!

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  85. 8:09am sounds like one of those ivy league wannabees.

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  86. This thread has grown tiresome

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  87. Michelson filed the "973" patent in 1996, well before NuVasive and XLIF. I don't see how the "973" patent is not due licensing/royalty fees?

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  88. Michelson's patent portfolio was built attending all the research conferences with lawyers in tow and have them write up patents on any new idea presented at these meetings. He correctly assumed that most academicians are not that diligent in filing themselves, and he squeezed through that window of opportunity. Smart, but his real invention is his system, not any product. But he should spare us his larmoyant spiel of how it is all for the benefit of patient.

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  89. 9:58

    Spot on. And what we're now seeing is part of the justification for the $1.35 billion price tag that Medtronic paid for the patents.

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  90. A-B-C. A-Always, B-Be, C-Closing. Always be closing, always be closing.

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  91. This comment has been removed by a blog administrator.

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  92. Funny, I wonder if Alex feels any guilt for his shameless self promotion of his Broadway musical "Memphis" now that all of his loyal shareowners have taken a bath on their Nuvasive stock?

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  93. Any idea if this means that MDT has now staked a claim to Nuvasive's lateral TDR portfolio as well? The initial IDE study has to be closing in on full enrollment at this point.

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  94. This comment has been removed by a blog administrator.

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  95. The Laughing PolicemanSeptember 24, 2011 at 4:13 AM

    hey, while we're on the subject of Nuvasive lawsuits, whats the status of Roger "cross-eyed Mary" Yapp's sexual harassment lawsuit. yes folks...its happened again.
    nice leadership you got there, Alex....

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  96. So if this is how MDT is going to justify there $1.35B patent purchase, what will they do to justify the $4B they blew on Kyphon?

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  97. 4:13 Isn't he Jeff Rydin's boy? Aren't he & Tery Rich untouchable? Could be 2 of the worst managers ever, but since they do a very good job of insulating Rydin, they seem to be untouchable.

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  98. you guys sound like a bunch of old bitches!!! Got nothing better to talk about than NuVu or GloBUST. It’s a shame that you most of you chased away the surgeons that were posting on here giving us their insight, even if we disagreed with it. Now all TSB has come to is a bunch of winey bitches.

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  99. 9:29 Nice productive post. Appreciate your contributions as you bring a tremendous perspective & fresh insight to the board.

    Now, go finishing filling your territory manager's trays so that they're ready for his cases on Monday morning.

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  100. This comment has been removed by a blog administrator.

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  101. Boyz:

    We love the fact that you read our blog. We even love your passion and tete-a-tete, but the majority doesn't condone your opinions when all you are doing is ranting non-sense. Remember whom holds the keys to the Emerald City.

    Peace, Love and Spine
    TSB

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  102. I quit reading this blog about 2 months ago and decided to visit back and I can now see why I will probably remove it from my favorites list. You bad- mouthers are killing yourselves every day and while I used to see many of you during my clinic I will think twice before I allow my staff to let that continue...let's hope there is future professionalism in an industry that I still make a very good living and will definitely do so for many years to come as long as we have some political changes in DC!

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  103. Can't we all just get along?

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  104. I believe Porky Pig said it best:

    "Th-Th-Th-Th-Th-... That's all, folks."

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  105. But he should spare us his larmoyant spiel of how it is all for the benefit of patient.

    September 23, 2011 9:58 AM


    I don't know what larmoyant means, but the rest of this is spot on. Anyone read the recent "interview" with Michelson in OTW? The man is barely coherent.

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  106. Some of you have said spine reps have a "God Complex".I have an MBA from Harvard, I am certified in neuro and ortho spine medicine, I have been awarded citations from seven different medical boards in New England, and I am never, ever sick at sea. So I ask you; when someone goes into that chapel and they fall on their knees and they pray to God that their wife doesn't become paralyzed or that their daughter doesn't bleed to death or that their mother doesn't suffer acute neural trama from postoperative shock, who do you think they're praying to? Now, go ahead and read your Bible, Mr. MD, and you go to your church, and, with any luck, you might win the annual raffle, but if you're looking for God, he was in operating room number two, and he doesn't like to be second guessed. You ask me if I have a God complex. Let me tell you something: I am God

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  107. Somebody really loves Alec Baldwin. Guess they show movie quotes at Globus Sales meetings.

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  108. God, Hi, this is Alex Lukianov,

    Is there any way, any way at all, that you might be able to help Nuvasive find $101.2M? I know that it's asking a lot, but it would really mind a lot. After all, Nuvasive has changed the face of spine surgery God. I know, I know, that may sound a little arrogant, but hey, it's just how we roll here at Nuvasive. That said, we've found ourselves in a bit of a jam, so that $101.2M would REALLY come in handy.

    God, thanks in advance for your support.

    P.S. - Would you be available to attend our NSM next year? Perhaps be a "guest of honor" for our Cheetah Ball? Past guests include Bill Walton & George W. Bush, so you're certainly in good company.

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  109. That's some funny Shit....

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  110. 1:48, love that part from the movie. It couldnt be any closer to the truth on how some surgeons see and hold themselfs in regard.

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  111. Anyone see this:

    http://xlifclassaction.com/

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  112. 6:55pm,

    xlifclassaction.com got one thing right; "XLIF is short for eXtreme Lateral Interbody Fusion, and was patented by Nuvasive." The person who created this site obviously doesn't have a clue.

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  113. The poorest way to face life is to face it with a sneer. There are many men who feel a kind of twister pride in cynicism; there are many who confine themselves to criticism of the way others do what they themselves dare not even attempt. There is no more unhealthy being, no man less worthy of respect, than he who either really holds, or feigns to hold, an attitude of sneering disbelief toward all that is great and lofty, whether in achievement or in that noble effort which, even if it fails, comes to second achievement. A cynical habit of thought and speech, a readiness to criticise work which the critic himself never tries to perform, an intellectual aloofness which will not accept contact with life's realities - all these are marks, not as the possessor would fain to think, of superiority but of weakness. They mark the men unfit to bear their part painfully in the stern strife of living, who seek, in the affection of contempt for the achievements of others, to hide from others and from themselves in their own weakness. The rôle is easy; there is none easier, save only the rôle of the man who sneers alike at both criticism and performance

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  114. I think you mean "twisted", not "twister".

    Thanks,

    --the grammar Nazi

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  115. 1:48 = Narcissistic DB

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  116. God,

    Hi, it's Alex again,, Sorry to be a bother, but it seems that we've lost ANOTHER one of our key XLIF thought leaders and I was hoping that you could help bring them back?

    We've made them proctors, had them consult on our products, created a society for them called SOLAS, but we can't figure why so many of the surgeons that we considered close "friends of the family" would leave Cheetah Nation and move on to work w/ our competitors at Medtronic, K2, Globus, DePuy, Alphatec, etc,? Bottom line is that when you're as great as we are (Yes, I know, sorry again for the arrognace) it's simply perplexing as to why anyone would leave us?

    Anyway, I was wondering if I could request your help to try and bring a few of these surgeons back into the mix w/ us? You know, perhaps send a message via an "act of God" in their vicinity? Something simple, yet impactful, something that sends the message that attending our MVP program, learning all of our "tips & tricks", then taking them to another company is simply rude.

    Anything that you can do to help is this time of need would be greatly appreciated.

    Also, God, I'm sorry for picking on Medtronic all these years as I've clearly learned my lesson.

    P.S. - Have you seen the Broadway musical "Memphis", it's won 3 Tony awards!!

    Hockadoo,
    Alex

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  117. Lauren Hutton and Willem Dafoe - separated at birth???

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  118. @ 2:09 - Good stuff. Keep it rolling!

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  119. What's up with Globus? US sales 75M 2nd qtr. Latest CFO has left the company. !st and 2nd qtr. US sales were approx. 75M for each qtr. Whats their market valuation?

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  120. 3:57 Not enough to go public or be acquired.

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  121. Okay, I finally figured out what this PODS thing is. I was driving behind a truck today with a big sign that said: PODS...Portable On Demand Storage. Seems these storage boxes are springing up everywhere. Now we just gotta find out what's inside:)

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  122. If CNS wanted to figure out how to liven up their meeting next week, they'd place Nuvasive's booth right next to Medtronic's.

    Now THAT would be funny!

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  123. XLIF
    eXtreme
    Lukianov
    Ip
    F up

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  124. Perhaps Charlie Sheen should work for Medtronic,,

    Can you say "WINNING"?

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  125. HEY 1:18The richest one percent of this country owns half our country's wealth, five trillion dollars. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation. It's bullshit. You got ninety percent of the American public out there with little or no net worth. I create nothing. I own. We make the rules, pal. The news, war, peace, famine, upheaval, the price per paper clip. We pick that rabbit out of the hat while everybody sits out there wondering how the hell we did it. Now you're not naive enough to think we're living in a democracy, are you buddy? It's the free market. And you're a part of it. You've got that killer instinct. Stick around pal, I've still got a lot to teach you.

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  126. 5:28 I like you. You hiring?

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  127. 5:28
    Lay off the Red Bull's pal! Speaking of Charlie "I'm Winning" Sheen...that's what he thought until he got replaced with a Teacher better than he. Get Amped Up!

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  128. Letter from Alex to Sales Force, REALLY ALEX can I have some more Purple Juice!!!

    Dear NuVa Sales Force,
    As you know, NuVasive has faced serious obstacles in the past and our current situation is no different. Years from now this will only be another piece of history that made us stronger.
    Despite recent events, our mission remains very clear. Nothing has changed in the way we should be approaching our business. Our products, service and industry presence need only expand to further define our collective legacy.
    There is nothing more that Medtronic wants than for us to miss a step or stumble. They accused us of lying and cheating. What they really wanted to do was throw us off our game. We will reset the record over time, but regardless we know the truth: we developed XLIF with Dr. Pimenta and we are the pioneering Cheetahs who have and will continue to change spine surgery.

    I am asking for your help in sending a clear message to Medtronic and to everyone watching us that we're just getting started, and we will not only prevail, but we will be the dominant force in spine for decades. There is no surer way to send that message loud and clear than to achieve record results despite adversity. To that end you can help NUVA rise above the naysayers by finishing Q3 with every order closed and every option for added business explored. To produce a record quarter will be our collective victory.
    I know we have the best sales team in the industry and that we constantly stretch you for greater results and deeper penetration. For that I am always grateful to all of you. Now it's time, really time for you to take part in massive action to move ONWARD AND UPWARD.
    Feeling Lucky? I am, because I have you and there are many standing behind you proud and tall. SO ARE YOU "IN?" I said, "ARE YOU IN, in a BIG, BIG, REALLY BIG way?" Well, ARE YOU IN?
    REPLY ALL NOW and let me and all the US Cheetahs hear your voice!
    Alex

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  129. Wow...
    That will really mobilize the pack huh ?

    That message (if true) was a sign of weakness.
    The NuVa customers will smell the stench of desperation as soon as the mighty 'cheetahas' open their jowls.

    Meow...

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  130. I hear the reply all emails are close to 1,000 and ALL IN BIG TIME! Say what you want about Alex, the troops are rallied behind him with a score to settle!!!

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  131. 9:43 Interesting that you left out the fact that Alex threatened the entire field that HR would be recording every employees email response. Typical strategy - spin followed by half-baked results. Keep hanging on to your worthless stock options, and voting for people you dont even know for the cheetah awards. (HR is watching you!!)

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  132. Geez, I thought they were going to have to sell the purple sailboat - but with all of those "reply all" emails I guess everything is going to be OK...

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  133. how is globus going public with all the dirty money they throw at drs

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  134. Sorry 4:22, 9:43 is not a shareowner.

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  135. Laughing,, Yeah, Nuvasive's sales force is "All in",,

    That's why morale is terrible, everyone is concerned & complaining, turnover is at an all time high, reps, managers, heck even surgeons continue to leave as fast as they can.

    Once again, an example of the blind leading the blind.

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  136. Alex, great letter, even better management meeting last week in San Diego. Thanks, I feel so much better now that you've re-assured us with your words of encouragement.

    Hockadoo!

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  137. Regardless what one thinks about Nuvasive, but I like the fact how competitors can not settle for the status quo anymore.

    Everybody's talking and no one says a word

    Everybody's making love and no one really cares

    There's Nazis in the bathroom just below the stairs

    Always something happening and nothing going on

    There's always something cooking and nothing in the pot

    They're starving back in China so finish what you got

    Everybody's runnin' and no one makes a move

    Everyone's a winner and nothing left to lose

    Nobody told me there'd be days like these

    Strange days indeed -- strange days indeed ~ Lennon

    P.S. The cheetah is vulnerable. It is the least adaptable in the entire cat kingdom.

    TSB Rules!

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  138. Looks like "Cheetah speed" caused Alex & team to miss a few things along the way:

    IP, patent/ trademarks, to name a few. Or, maybe, when you're running that fast, rules tend to be ignored.

    Sort of like a running a red light or stop sign I suppose.

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  139. Gotta love all you wanna-be's or has-beens bitchin on this Spineblogger site. Talk about a pile-on. We get it. You don't like Nuvasive. Great. Doesn't matter. We're here to stay. I hear about conversions and flipped business from tons of reps across the country. If you don't know about Nuvasive, or haven't seen purple trays in your hospitals, just wait. Only a matter of time until we penetrate your market and take business from your surgeons. Our products are great, Stim to stern. We are constantly launching new products or improvements to old products. We are a motivated sales force, and this lawsuit did nothing more than piss us off. Getting sued by Medtronic is like a rite of passage in spine. Sure I love purple koolaid. But you know what? It tastes great. See ya in the OR

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  140. 7:50: Amen brother! We have a settle to score and its going to be a blast kicking ass and taking names! The Cheetas are on the prowl bigger than ever!!!

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  141. That's a real Hoot !

    Yeaya Brothers !!

    All I hear about is conversions and flipped business away from NuVasive.

    See ya when your resume makes it to my stack of papers....

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  142. Sell that XLIF! 10% of your revenue goes to MDT from now on Cheetahers! Cash, check or charge?

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  143. It's probably just a rumor that the purple thyroid shields will now be changed to blue.

    Probably just a rumor....

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  144. Hey, does that men all Nuva's marketing material will be ordered to be pulled back, and replaced by material with the "Michelson Technology at work" logo?
    Oh, that's just TOO RICH! Now Cheetahs will be reminded every day, who they are really working for! Oh, thats gotta hurt!!

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  145. What? Those nice purple trays to be turned blue too?!?
    NO WAY! (?)

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  146. what does 'stim to stem' mean?

    "we have a settle to score"

    dopes!

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  147. "a settle to score".......... Hahhahaha!

    Good one buddy.

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  148. Damn...these Nuvasive guys are such fags. Cheetahs...really? How gay is that?

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  149. Cheetahs??? Really man?? More like lizards.

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  150. Hey TSB if this is an open blog, how is it that you can block a persons ISP address from posting on here?? Chicken shit!!! Can't stand the heat, get out of the business. I should, as well as others be allowed to post whatever I want on this blog. I don't name names, unlike you, but do and will male my feelings known.

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  151. 10:20

    Never have we blocked an ISP address from posting, on the other hand, it is at our discretion to monitor comments that are childish or derogatory. Did we block yours? Duh? Actually, those of us that contribute to this blog actually take the heat and if ever have not censored any of your comments, unlike our friends that have other industry related web sites and invite your comments. So before you start pointing your finger at TSB, think about how you sound when you post a comment like the one above, for as many times as we have been attacked, we never have censored any criticism, such as the one you posted. Peace. Now stop reading and go back to work and sell something.

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  152. Well said TSB. We do not need morons posting uneducated rants!
    Thank you!

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  153. "...male my feelings known."

    Freudian slip?

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  154. Funny how we rarely hear from surgeons on this site. Perhaps they stopped browsing TSB long ago. But for those of you docs that are out there, what are your thoughts on XLIF, the verdict, Medtronic, Michaelson, Nuvasive, next 5 years of spine.. whatever.

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  155. Busy day i see from 12:14pm. Glad u took time out of your busy day to post something that added nothing. Guess you never make typos?? Get a life.

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  156. Cheetahs is actually better than the dope that said his name badge read, "Widow Maker, Money Maker".

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  157. The Spine Blogger will have to morph soon into the the ________Blogger since this industry is in the shitter! What an embarrassment when we have literally jumped the shark as an industry. I have never seen such an entitled group of "privileged" people in the medical field. How lucky are you reps to earn as much as you do. Many of you brats make more than enough to fall into the top 5% to top 1% in the nation. And for what? I mean really what? Just the mere fact that you were able to get the job and suck ass better than the other reps? Your "best friend" is now your surgeon buddy? Whatever! You bastards are lucky to have whatever it is that you earn. Don't get me wrong, I LOVE that you can earn such money but to believe your skill set is worth CEO money, is to be delusional and naive! You had better be careful as the times they are a changin'!!!

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  158. Man 6:18, next time you think about sharing your thoughts via the inerwebs..... don't. Whatever message you are trying to get across is shadowed by your hatred of anyone that makes more money than you and your obvious deforming envy. Chill out man, things will be ok.

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  159. I appreciate the free thought and everyone should have an opinion 6:27. Would you also agree that we should stop all that democracy crap? Voting, etc.?
    btw...whats an inerwebs?

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  160. Can anyone tell me why 6:18 even took the time to post something on here? I am assuming that you don't go from 6 in the morning until 10 at night 4 days a week, busting your ass for this job?? Well, some of us do. If you want a piece of the pie, it is there for the taking. However, to make the money you are talking about, you have to give this job your LIFE. I can guarantee you that if reps did not make the money you are talking about, NO ONE would do this job. Put out or shut up.

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  161. Great Post 7:00! 6 to 10 4 days a week! Ha, ha. Damn you work less than a truck driver and carry less. Ha, ha, ha!

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  162. Nuvasive just hired 2 exStryker Ortho Reps to cover spine in Tucson. Are they that desperate?

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  163. Guys this Michaelson patent doesnt just hurt Nuvasive. The patent is not just for lateral interbodies it also covers TLIF and PLIF interbodies for all companies. Medtronic could collect royalties from all companies if this patent holds up.

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  164. I heard the Michaelson patent covered breathing. Damn you are all F*cked!

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  165. 7:10--- 6 to 10 in the OR smart ass

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  166. 6:18pm I love love love making over $300k a year. Remember, this is the career i choose to do. You sound like a guy that just fired for not making quota, again. Sorry bro, we all have choices in life.

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  167. 6:18 is the epitome of "Entitlement". God forbid someone starts a business and is successful, earns a substantial living, pays taxes and works hard for what he or she makes. Yes there are reps that luck into a territory and make more than they are worth. That is true in any field you can find. How many Christmas mornings have you missed because of cases, how many birthdays, how many little league games, middle school or high school games have you missed? How many days have you woken up and left your home while your wife and kids are still asleep only to come home to the same? So before you judge someone, take a long look into the mirror. I own my business, We employ people and help them provide for their families, We give to our community, we believe in America and the "Dream" it allows us to work for. How many jobs do you create? How many employees do you have and pay? Do you pay workers comp for your employees, do you assist with their insurance and do you pay the government business taxes on top of your income tax? I doubt it. I am willing to bet you are an employee of a company and bitch about the money taken out for your group insurance. You probably get paid vacation days, which most of us don't. When you are ready to put your ass on the line to better yourself, don't be a chicken shit and give it a shot. If not sit back and collect your monthly paycheck and quit being jealous of others that have and do it well. Instead of hating what others have, go out and get more for yourself. Unless that is too much risk, work and pressure for you. It's people like you who are killing the passion of what America is made of. You rather complain about people who make a great living instead of trying to put yourself in the position to do so. I wish you the best.

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  168. Very well said.
    Thank you.

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  169. Can you say NuVasive? Just when you thought they were down and out, another acquisition! Watch out spine world, more market share going to NUVA!

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  170. Smoke and mirrors 9:07

    They had to acquire something that has a positive revenue stream to make up for future royalties they will pay to Big Blue for patent infringement. They will figure out a way to screw it up.

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  171. 9:32 - NuVasive expected to win the patent fight, and at this stage havent lost yet by a long shot (muddying up the water with a jury is one thing, doing it in the post trial motions and appeal would be another) so I assume that you are suggesting they put an $80M deal together in a week. Thats pretty impressive stuff...

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  172. $18.27....? Really?

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  173. The market has reached a verdict on Nuvasive, its monitoring purchase, and its leadership. Where is the NUVA board in all of this while the stock loses 50% since July?

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  174. Interesting comments - let's just say, I have a friend of a friend of a friend who spent some time in that courtoom back in August/Sept. Complete and unbiased observer - nothing to do with either companies.

    MDT "won" in the sense that they bamboozled the jury with Michelson's shtick. NUVA showed that the '973 patent is invalid. Juries shouldn't be the arbitrator's of patent claims - the law is too arcane and complicated. They allowed MDT/Michelson to import "translateral implant" as some sort of functional limitation into the claim. That isn't the law. MDT will lose on appeal - the Federal Circuit (which hears all patent appeals) - will shred this verdict. The Michelson patent will be invalidated.

    In any event - it expires on Feb. 27, 2015 - so no one really will be held up. Trust me - every spine company in the world has an opinion(s) of counsel that this thing is invalid. MDT is not counting on ever getting this cash - it is a play to knock NUVA off balance.

    Personally, I think its a play for NUVA's patent portfolio - which has an equal amount of crap that they snuck through the patent office as well as a number of really impressive items. Knock NUVA down a couple of pegs and then acquire the portfolio by (1) acquiring NUVA or (2) cross-licensing IP between MDT and NUVA. MDT wants a free and clear path to sell the DLIF product and to not be bothered by NUVA.

    It's kinda funny in a way - everyone has focused on the implant verdict (which carried the largest chunk of the jury award) - but folks should really look at the MDT patents for the cervical plates/screws (NUVA clearly swiped that idea from Danek) and the retractor.

    So - just as a little bet, I bought 50 shares of NUVA at 17.50... I'll hold it until after the Fed Cir appeals court decision (if NUVA survives that far - although the do have 500mm in the bank, I believe...?) Let's see how I do.

    ~Ed

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  175. Good points.

    Bad bet, so far you've lost about ten percent in a very short time.

    Short time....

    Short time?

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  176. Nuvasive is at about half it's market cap just one year ago and the stock has taken a lashing. While Alex has been "The Guy" for a number of years, numbers don't lie. Maybe I will hate myself for not buying low, but feel money could be spent on devices out of the spine industry (declining market and margins is not good). regardless of the outcomes of the legal battle with MDT, Nuvasive just sunk some serious cash into the legal system and the purchase of Impulse shows that the Neurovision device has some potential holes in it...not speculating here. It is a fact that there have been some issues with it. In the end, Nuvasive is the aging sex pot and everyone is waiting for the next hot model. As much as I think Alex is impressive, I don't want to see him in a bikini.

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  177. By the way, who let all of the sophomore Frat guys into this blog. It is a sign that the hey day of spine is truly gone. In the end, most of these folks will get weeded out. Money comes and money goes, and with it, the people that spend too much time here and not enough time selling.

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  178. The letter from Alex sounds a lot like what the CEO's from Enron did in THEIR death throws a few years ago. He wants to make sure everyone keeps selling the doughnuts, while he gets his golden parachute ready.

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  179. Alex, Keith, and Pat are all set when it comes time to bail out. Look at all the stock options they keep granting themselves over the years. Just like any bank robber..you have to have the discipline to drop it all when the heat comes down, and just walk away. They don't have a worry in the world!

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