Federal monies are not Christmas presents for CEOs. Enough of this. The monies come back into the US Treasury and the American people so they can decide how best to address this level of greed.
June 8, 2020
By Jessica Silver-Greenberg, Jesse Drucker and David Enrich
HCA Healthcare (click here) is one of the world’s wealthiest hospital chains. It earned more than $7 billion in profits over the past two years. It is worth $36 billion. It paid its chief executive $26 million in 2019.
But as the coronavirus swept the country, employees at HCA repeatedly complained that the company was not providing adequate protective gear to nurses, medical technicians and cleaning staff. Last month, HCA executives warned that they would lay off thousands of nurses if they didn’t agree to wage freezes and other concessions.
A few weeks earlier, HCA had received about $1 billion in bailout funds from the federal government, part of an effort to stabilize hospitals during the pandemic....
This is a cover-up for greed. If a CEO's hospital is not doing well financially, they need to make real cuts to CEO's and middle management salaries. I don't want to hear how they will leave and the hospital will lose their best management. Hello? Financial failure is not good management and the professionals in the hospital don't need management. They can get along very well without their CEOs and Middle Management. All the professionals need is a purchasing clerk and stockpile management. The CEO needs to go if a hospital can't "make it" without federal money.
Federal monies are to stabilize the hospital and not indulge management and purchase another home for the CEO.
...Industry officials argue that furloughs and pay reductions allow hospitals to keep providing essential services at a time when the pandemic has gutted their revenue....
