Abbott

I had planned on writing a blog tonight about the general goodness of people, and I still will, but something else came up and I thought id let you know.


This morning at 7am I got a call from my friend Josh up in MN, he wanted to know if I heard that our company AMO (Advanced Medical Optics) had been bought out today by Abbott Labs.
They are a huge medical company, and seem like a decent outfit as far as I can tell. It will be interesting to see what sort of changes they make.

I'm not terribly worried about my job in particular. The Field Service Engineers are on the front line making all the systems work. We recently went though a downsizing due to the economy and the comparative percentage of FSE's let go vs. in-house and managerial staff was like 2-3% so I feel fairly confident that Ill be safe, but you never know so ill be working extra hard to make sure i'm valuable.

In the short run its an awesome thing for me, I have a few hundred shares of AMO that, as of last week were hovering around $6.00 a share. Abbott bought the company shares at $22.00 each. That's huge! If you had 100 shares, last week it was worth $600, today its worth $2200! WOOT!

In the long run though, Abbott will definitely make changes within the AMO group, it just remains to be seen if they will be helpful, smart and beneficial, or idiotic, useless and detrimental.

E