Friday, January 12, 2007

Biotech Firm Embarrassed by Missteps

By Chris Thompson
Fri, Jan 12, 2007 at 3:26 PM

Bio-Rad Laboratories, the Hercules biotech firm with five thousand employees and annual revenues of $1.1 billion, has been hit with a few embarrassing mistakes lately. Last month, the Environmental Protection Agency slapped the company with a $29,900 fine for mishandling toxic waste at its Richmond facility. Now, the American Stock Exchange has sent Bio-Rad executives a letter warning that their audit committee was understaffed, and giving them until April 9 to comply with their orders to beef it up. Apparently, there's a job opening in Hercules.

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