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(CBS News)   Buy a hospital. Take out a loan against its equity to pay yourself a dividend. Sell a diferent hospital you own to pay back the loan, but then lease the hospital you sold back from the company you sold it to. In case you missed it, profit was step 2   (cbsnews.com) divider line
    More: Fail, Private equity, Private equity fund, Leveraged buyout, Hospital, Emergency department, Prospect Medical Holdings, Los Angeles-based for-profit company, Private equity firm  
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843 clicks; posted to Business » on 07 Dec 2022 at 7:05 AM (8 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



17 Comments     (+0 »)
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2022-12-06 9:49:44 PM  
'Murica.
 
2022-12-07 2:55:33 AM  
Fark user imageView Full Size
 
2022-12-07 5:19:28 AM  
Maybe things like health care and education should not be run by for-profit companies.

/ don't come at me, Bob Kelso
 
2022-12-07 7:08:17 AM  

bostonguy: Maybe things like health care and education should not be run by for-profit companies.

/ don't come at me, Bob Kelso


Nailed it
 
2022-12-07 7:56:04 AM  
One of the largest day care companies in the country is owned by Romney's vampire private equity group. Kind of scary.
 
2022-12-07 7:59:33 AM  
Waaaaaah? You mean we can't trust private equity to treat critical infrastructure as nothing more than a pump and dump scheme?

I'm so shocked.
 
2022-12-07 8:26:47 AM  
Every time I read a piece about the Vulture Capitalists, I think of the poem "Hungry Mungry".
 
2022-12-07 8:47:13 AM  
This is what happens when you let the GOP run the federal government
 
2022-12-07 9:33:08 AM  

Scorpitron is reduced to a thin red paste: One of the largest day care companies in the country is owned by Romney's vampire private equity group. Kind of scary.


Wait until you read about what's been happening to dentists.

Funny thing, once a dentist office has been purchased by private equity, for some reason people start getting more x-rays, cavities, crowns, etc.
 
2022-12-07 9:55:32 AM  

Another Government Employee: Every time I read a piece about the Vulture Capitalists, I think of the poem "Hungry Mungry".


These aren't vulture capitalists - they're not picking over the remnants of failing businesses. They're draining otherwise functional businesses of capital, then kicking the exsanguinated, gasping victim to the curb in front of horrified onlookers.

They're vampire capitalists.
 
2022-12-07 9:57:37 AM  
The company has pledged to save the facility by turning it into a "desperately needed 100-patient facility for those in need of behavioral health and other services."

This is the evil part. They know that the community's screaming at them for gutting their only emergency room and hospital, and their "pledge" is "we promise to continue doing exactly what we intended to do, only now we'll bilk your insurance company for mental health & rehab - your injuries didn't make us rich enough, so let's see if your additions and nutcases might."
 
2022-12-07 9:58:45 AM  
And, again - entirely legal, entirely above board. When evil is legal and profitable, then evil folks are going to profit from it.
 
2022-12-07 10:23:44 AM  

FormlessOne: The company has pledged to save the facility by turning it into a "desperately needed 100-patient facility for those in need of behavioral health and other services."

This is the evil part. They know that the community's screaming at them for gutting their only emergency room and hospital, and their "pledge" is "we promise to continue doing exactly what we intended to do, only now we'll bilk your insurance company for mental health & rehab - your injuries didn't make us rich enough, so let's see if your additions and nutcases might."


Insurance Companies: "We ain't got time for that. Kick those losers back out on the street!"
 
2022-12-07 10:34:13 AM  
Vulture capitalism should be illegal and punished with forfeit of all assets and life with out parole.
 
2022-12-07 11:00:28 AM  
Nationalize it all.
 
2022-12-07 11:31:55 AM  

bostonguy: Maybe things like health care and education should not be run by for-profit companies.

/ don't come at me, Bob Kelso



take it to the next actual reality we face.

maybe civilization is only actually civilization, if it's not behind a FOR PRIVATE PROFIT paywall.

The water tap at the house, the roads we use, the electricity that even allows it all the go on.
none of that is free, there is a cost for all that. but the cost of those things does not need to include any private for profit margin.

As long as you you have a pay wall between you and the things that allow for civilization, then we don't actually have civilization.

Is that a private for profit pay wall between you and food, shelter or water?
Well then, looks like you better pay up to your overlords or you don't get any.

and you fools give a rat's about medical care? What good will that do yo when you can be left to die of dehydration, starvation or exposure to the elements first cause you were not profitable enough to let have those basic needs of existence?
 
2022-12-07 12:54:32 PM  
Hey now, we don't want no Socialized medicine in the USA
 
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