Mail from Everywhere Regarding The Company Formerly Known as Fresenius

I apologize for not posting this update to the Trident Blog much earlier, but even at this late date, Trident is still wading through and responding to numerous faxes and emails received from our blog discussion post about the new company's policy to hold salaries in arrears.

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The responses we have received have paralleled the sentiment behind Trident’s inital impression. Thank you to those of you who have agreed to share the contents of your correspondence reflecting your feelings of dismay, discouragement and in some cases, even anger. To many we’ve heard from, it’s not even the money that’s being held as a point of contention (although that certainly is a factor), it's the fact that a major decision regarding salaries seemingly took place without regard, care or consideration to the many long-time employees who have endured much over these constant mergers and buy-outs.

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Whether a new payroll system of payment is initiated based on cash flow considerations or State-regulated legalities, or simply as the means to assuage a department’s workload, the reason of company “convenience” to change an important payroll policy (although legal in many states) speaks volumes about a corporate philosophy. What is evident from the correspondence we received, the communication to the field was poorly handled and was deja vu all over again (as Yogi Berra so eloquently once stated).

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The perception of cold and impersonal management is not new and was the hallmark of past owners perpetuated by these kinds of management decisions that disregard the needs of the front line. Clearly that’s what happened, or else why did the new venture group retreat and offer to postpone the payroll adjustment until March 2008, even offering an improved repayment program to employees of need (for their own paycheck), if not to acquiesce to the pressures of "exempt associates"? The overwhelming response that we have received seems to indicate that many of the rank and file continue to question management decisions.

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A management team which sways from a firm decision under pressure exposes the soft-underbelly of weakness...of having acted hastily, needing to then back-peddle to make a correction in a flawed decision. It happens in some organizations and history shows us, such handiwork can destroy credibility instantly.

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We are touched by the stories of those who’ve contacted us. With permission, a few of the quotes that we have received follow:

• "We are very confused about what we have heard and do not know what to make of it, since we have no details."
• "The funny thing is the people in charge are all new...they never worked for Fresenius or Edwards or Baxter....all new benefit people, as well. So no one can blame it on Fresenius this time. It's all the fault of the new management. I am not a happy employee and I am personally tired of all the mergers and changes in policies every few years....I am tired of the lack of competitive pay. I was optimistic that the new management might make the necessary changes, but I'm not impressed with what I have seen so far, and they haven't been in charge that long. And now...this."
• "Many of the old upper management people were laid off, so in many ways we have a new company...I have been through three mergers and having been with this company for over 12 years, I am not impressed. This acquisition has been nothing short of disorganized and virtually no information has been forthcoming. We got a letter telling us who our 401k, health, and dental will be with, but no details or info on costs. We just got info on the 401k package last week, but nothing else. .... It is a disaster, if you ask me."
• "It was sold in May, although our benefits are still covered through Fresenius until the beginning of October. Now, I can say that this organization has not been very organized in getting out information to us in a timely fashion. Our benefits are due to switch over on October 7th and we still have not received our benefits package. Hello??? And they have no phone number designated for us to call in and ask questions, including benefits questions, so a few of us are very irritated and unhappy with the way things are going in that regard."

Upon review of these comments above, it's clear that communication is the essential factor to good employer/employee relations and it seems from the comments we received that it was somewhat lacking in the new venture company's payroll policy change. The responses that we received were more about a lack of communication than anything else and that this problem seems to have been persistent throughout the three mergers, etc. It was Trident's intention in blogging about this to bring forward shared information for the good of all, however, some comments to us expressed concern that maybe we were too heavy-handed in our message.

For example, several individuals expressed the following:

• "It was inappropriate to prematurely post that information before you were certain that all Fresenius/HCSG employees were notified."
• "...not exactly a professional thing to do, especially if it involves speculation." (Trident's Response: Note: which it did not)
• "You never know when information you post will be disproved and make it appear that you are just spreading propoganda. Like I said, I don't believe this was your intention...just be careful."

We thank all of you who responded to our blog post of 9-10-07 . I appreciate all of your comments and your points of view. Please keep writing and we will attempt to be as responsible as we know how to post factual information that benefits the entire Perfusion Community. Trident views our niche industry like family and wants to keep communication open and positive, addressing any concerns as they arise.

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Perfusionists have historically aspired to the highest standards regarding the Profession and the care of the patient. Shouldn't they also hold their management to the same standards that they aspire for themselves? Because if they can't find it in the environment that they're in, they will eventually seek alternatives with other companies which aspire to that same excellence.

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As always, we welcome your comments and if given permission, will post on this blog.

Never settle!

Sincerely,

Ralph E. Jordan
President and CEO

Trident Health Resources, Inc.