Puppycow
Penultimate Amazing
I'm not inclined to be an anti-capitalist, but stories like these make my blood boil:
CEO of failing hospital chain got $250M amid patient deaths, layoffs, bankruptcy
Is any of this criminal? Seems like it should be, and perhaps an investigation will find that some crimes have been committed. He lived a very lavish lifestyle, buying a 190-foot yacht for $40 million and a 500-acre ranch for $7.2 million while the hospitals he ran were loaded up with debt and he paid himself and his companies millions.
CEO of failing hospital chain got $250M amid patient deaths, layoffs, bankruptcy
As the more than 30 hospitals in the Steward Health Care System scrounged for cash to cover supplies, shuttered pediatric and neonatal units, closed maternity wards, laid off hundreds of health care workers, and put patients in danger, the system paid out at least $250 million to its CEO and his companies, according to a report by The Wall Street Journal.
The newly revealed financial details bring yet more scrutiny to Steward CEO Ralph de la Torre, a Harvard University-trained cardiac surgeon who, in 2020, took over majority ownership of Steward from the private equity firm Cerberus. De la Torre and his companies were reportedly paid at least $250 million since that takeover. In May, Steward, which has hospitals in eight states, filed for Chapter 11 bankruptcy.
Critics—including members of the Senate Committee on Health, Education, Labor, and Pensions (HELP)—allege that de la Torre stripped the system's hospitals of assets, siphoned payments from them, and loaded them with debt, all while reaping huge payouts that made him obscenely wealthy.
Is any of this criminal? Seems like it should be, and perhaps an investigation will find that some crimes have been committed. He lived a very lavish lifestyle, buying a 190-foot yacht for $40 million and a 500-acre ranch for $7.2 million while the hospitals he ran were loaded up with debt and he paid himself and his companies millions.