A community of 30,000 US Transcriptionist serving Medical Transcription Industry

Reining in the MedQuist Beast - Brain storming

Posted: Nov 25, 2011

Please please please don't get upset with me for posting this; it is just an idea. I was just "sold" to MedQuist and I am quite unhappy about it. MQ shares (MEDQ) are currently $10.41. Perhaps we should all buy as much stock in this company as we can afford, and perhaps we could be enough of a power block to rein them in, put a stop to the things we don't like; make this an employee-owned company, and employee oriented. This may be a very bad idea or hopelessly impossible, but any intelligent criticism out there? Go ahead and shoot this down, maybe it needs to be shot down, but please do so in a constructive manner. On the other hand, maybe this could work if we got organized.

Well, to be honest, I think the fact that an MTSO - can have shares sold on the - sm

[ In Reply To ..]
stock market, with shareholders wanting the company to then show more and more profits is a large part of what got us all into this mess in the first place.

It's also been many years since my MT paycheck has even allowed me to fund my own 401K or savings account, let along buy stock on Wall Street.
"
Even back in the day", when I COULD afford to buy a stock or two, I was careful to only buy stock in companies I believed in, companies that were GOOD for America, and that treated its employees fairly. So even if I could afford to buy stock in anything, MQ would not even meet my minimum requirements.

- Meerkat

Rein in the MedQuest beast - Wonderin

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I think it is a wonderful idea!

Two thoughts come to mind. - Ponderer

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First of all, I commend you for thinking outside the box a little and coming up with creative avenues of action.

Typically, holders of common shares don't have any or much say in how a large company is run. You would need to own enough shares to own "controlling interest" or own preferred stock (as its name suggests, not as many preferred shares are offered to the public [if at all] as common shares and they are also much more expensive on a per-share basis) in order to do that. To have the kind of impact you're suggesting here, you would have to not only own shares but have a "plant" (for lack of a better word; please ignore the negative connotation) or two of yours/ours sitting on the board. That's where the real decisions are made.

Secondly, someone seated on the board who is on "our side" wouldn't last long because they would be the odd man out. So they would be booted in short order.

Remember that you are talking about a GLOBAL corporation that is owned by WEALTHY GLOBALISTS. Anything that isn't "pro globalist" would be viewed by them as not in the company's best interest. The rest of the stockholders would probably hold that same view since people own stock to earn a PROFIT, whether it be from dividend income or just resell for the capital gain. The company's leadership is beholden to and answers to the STOCKHOLDERS, and the other stockholders would view your ideas as being against their bottom line, i.e. against their interests.

Indeed all you say is true, my thought is . . . - Brain Storming

[ In Reply To ..]
We would have to be become the controlling stockholders. This is obviously long range. Of course, if the majority of common stock is held by one person or like-mind group that it is not going to happen, they will continue their present course and no stockholder has any say whatsoever.

Clearly The MTs of the USA would have to own 51% of voting stock, elect a proxy to vote the stock, and oust the present management. I don't know how much stock is public, and my idea may be total nonsense, I'm not saying it isn't, I just think we need to do something about our situation and start thinking and talking about it.

(Incidentally, the bigger MQ becomes, the easier it is going to be to organize a union. -- And that is going to make the stockholders pretty unhappy too, isn't it?Z)

This is just an idea. And as I said, not necessarily a good one.

What I think we need to do is to start talking about how we can stand together and find a solution that works for us.

Would it be so terrible for American MTs to be the majority stockholders of the biggest American MT company?

I think it's a novel idea, and an admirable one. - (sm) - Meerkat

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However, I don't think there are enough MTs in America, and certainly not enough MTs with enough of a disposable income to buy stock, to ever be able to gain a controlling interest in the company.

Still, I commend you on thinking outside the box! We should all keep on thinking creatively on what we can do to save ourselves, just like you've been doing! :)

Not gonna happen... - justpassingby

[ In Reply To ..]
Are you kidding? The idea proposed by the OP is simply not gonna happen -- ever. I'm not trying to bust anybody's bubble here. For example, the reality is that the "other big MTSO" sells on the stock market at DOUBLE (somewhere around $24 per share) which is something to consider. Why are the shares at the Q selling on the market for so much less than the "other big MTSO" -- hmmmmm. Do your homework (such as a Google alert) and some fact finding.... In the meantime, keep dreaming.

She didn't need a snotty answer. So keep on - passing by, please. nm

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.

We should support EVERY idea no matter what! NM - NotAYesGirl

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NM

Passing by was not snotty - Burma Shave

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She was being REALISTIC.

Even if every MT on the planet bought - investor

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shares in Medquist, CBay would still control the company as they appear to own considerably in excess of 50% of the shares. Evil companies being turned around by plucky employees and small shareholders only happens in the movies.

Buy shares in the company by all means but only after doing proper research to determine whether it will further your own financial goals, i.e. because you believe they have the potential to increase in value, produce a substantial and reliable dividend, or other sound financial reason.

CBay now owns 100% of Medquist shares - as of October

[ In Reply To ..]
The sale of MQ has been taking place bit by bit over the last few years and was complete in October - CBay of India now owns Medqust 100% outright.

Well there you go, then. - investor

[ In Reply To ..]
Thanks for digging that out.

Absolutely 100% wrong, Medquist is traded on the Nasdaq - here are some basic stats: - Brain Storming

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Here is a synapse of the info I obtained from my own brokerage account (Wells Fargo)

As I said, I don't know if this is an idea that could work or not, but yes, you can most certainly purchase Medquist stock. It most definitely not a privately held company owned by C-Bay.

Medquist Holdings is traded on the Nasdaq

Symbal MEDH

Price as of 11/25/2011 $8.14

Previous Close: 8.25
P/E Ratio: N/A
Open 8.23
EPS: N/A
High: 8.31
Low: 8.00
Shares Outstanding 56.1 million
Market Cap 457.3 million
52 Week Range 6.21 - 14.20
Dividend 0.00
Average Volume 286.3 thousand
Dividend Yield 0%

Key Stats:
Price/Earnings 14.5
Price/Book Value 4.9
Sales (Latest Fiscal Year) $428.05 million
Price/Sales 1.12
Debt $279.50 million
Debt/Equity 2.85
Dividend Yield 0
Return On Equity 49.3

CEO Mr. Roger L. Davenport
Auditors KPMG LLP
Auditor Opinion Unqualified (means auditor finds the analysis correct)
Common Issue Type Common Stock
Employees 12000

Nope, not "100% wrong" â�¦ you need to get - your facts straight

[ In Reply To ..]
"Medquist Holdings" and "Medquist" are 2 different companies. The company you are referring to and have listed is "Medquist Holdings" â�¦ aka CBay of India.

Medquist is no longer listed on the NASDAQ - but Medquist Holdings is

[ In Reply To ..]
Medquist Holdings (CBay) completed a short-form purchase of Medquist (the company) back in October. As a result, Medquist (the company) removed its listing from NASDAQ.

http://www.streetinsider.com/Corporate+News/MedQuist+Holdings+(MEDH)+Commences+Company+Consolidation/6415440.html

investor - Old Pro

[ In Reply To ..]
I have been a serious investor in the stock market since the 1980s. My broker has always told me that MQ is NOT a good buy.

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