imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Calendar Publish RSS
Features
latest news
best of news
syndication
commentary


KILLRADIO

VozMob

ABCF LA

A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List

LAAMN List




IMC Network:

Original Cities

www.indymedia.org africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech

Surviving Cities

www.indymedia.org africa: canada: quebec east asia: japan europe: athens barcelona belgium bristol brussels cyprus germany grenoble ireland istanbul lille linksunten nantes netherlands norway portugal united kingdom latin america: argentina cmi brasil rosario oceania: aotearoa united states: austin big muddy binghamton boston chicago columbus la michigan nyc portland rochester saint louis san diego san francisco bay area santa cruz, ca tennessee urbana-champaign worcester west asia: palestine process: fbi/legal updates process & imc docs projects: radio satellite tv
printable version - js reader version - view hidden posts - tags and related articles

jeb bush Joins the Tenet Gravy Train

by get jeb in d hed Wednesday, May. 16, 2007 at 6:13 AM

crime pays



By Brett Arends

Mutual Funds Columnist

5/9/2007 10:25 AM EDT

A senior member of the Bush dynasty is about to get a large sum of money

from a company with a history of ethical violations.

Stop me if you've heard this one before.

Jeb Bush, the president's brother and former governor of Florida, is up

for election Thursday as a director of troubled hospital chain Tenet

Healthcare (THC - Cramer's Take - Stockpickr - Rating). Assuming he's

waved through, his pay in his first year would come to nearly ,000 a day.

This is the same Tenet that had to pay 0 million to Uncle Sam last

summer to settle charges that it had overbilled Medicare and Medicaid

over many years.

Nine hundred million dollars.

The U.S. attorneys announcing the settlement accused the company of

"fraud" and trying to "manipulate and cheat the system."

Mike Leavitt, the Health and Human Services Secretary appointed by Jeb's

brother George, said the company had "fraudulently abused the Medicare

program."

It's also the same Tenet that just paid million to the IRS after an

audit found it owed back taxes going back as far as 1995.

The company recently had to restate nearly five years of earnings

statements after an investigation into its books.

And this is just the big stuff. Tenet's recent public filings read like

a police blotter. One of its clinics in South Carolina performed 436

open heart operations without certification. The company is being sued

in California by staff claiming they were systematically short-changed

on pay and overtime, in breach of the state's labor code. Three former

Tenet staff members, at a New Orleans hospital it owned, are under

investigation for allegedly euthanizing four patients following

Hurricane Katrina.

 All in all, it's hardly a surprise Tenet Healthcare stock has lost 85%

of its value over the past five years.

The company hadn't returned phone calls seeking a comment by press time;

neither had the former governor's representatives.

Tenet isn't partisan. Among its current directors is Bob Kerrey, the

former Democratic senator from Nebraska.

This will be Jeb Bush's first job since leaving the governor's office in

Tallahassee four months ago.

Of course, it's not quite the election he was hoping for. Once upon a

time, the dynasty was grooming him to run for president. But his older

brother got there first and has probably poisoned that well forever.

Chris Matthews and Wolf Blitzer won't be on hand for the vote at

Thursday's stockholders meeting. Do not expect to see many "Jeb '08"

badges around the Westin Hotel in Dallas. Somehow, the atmosphere won't

quite match the excitement of waiting for the returns from Ohio.

But Jeb, look on the bright side.

You've been complaining about your finances. Your last filings as

governor showed your net worth was down to just .4 million. Obviously,

that figure won't count any of the vast Bush family fortune. But still,

it's embarrassing. Who wants to ask mom and pop for extra cash every

Fourth of July? At your age, you should be buying your own yacht.

Sure, the Tenet job may look pretty tacky for someone of your standing,

but the pay isn't bad.

It's lucky the media aren't paying too much attention. Anyone reading

the public filings would have discovered that in your first year, you'll

earn 4,500 -- for 13 days' work.

That's ,500 a day. And the "work" consists of sitting in a board

room, so it's not exactly heavy lifting.

If the board meetings last an average of four hours, you'll be pulling

in ,125 an hour.

Not bad for a guy who could manage only a B.A. in Latin American Studies

from the University of Texas. Many of Tenet's 65,000 personnel are

qualified medical staff with years of experience. Yet according to

public filings, their average salary and benefits last year came to

around ,000 for full-time work.

You get that in two days.

Who says all the good jobs are going to China?

I'm sure your family lawyer has already explained the details, Jeb, but

just to recap the terms: As a nonemployee director you'll get an

immediate golden handshake of 0,000 in "restricted stock units."

Nothing says "welcome aboard" quite like a quarter-million. Plus you'll

get another 0,000 in restricted stock units each year. That's on top

of your retainer of ,000 a year.

And all that is before you turn up for a single board meeting. For each

one you attend, you get another ,500. There's another ,200 every

time you show up at a committee meeting.

A word of advice: Avoid the audit and compliance committees. There's too

much work and there's always the risk something will go wrong. For an

easy life, join the compensation committee. It meets only seven times a

year and you don't have to do anything. Just hire some consultants to

review executive pay, and agree to whatever they suggest. The executives

will be grateful, and that can pay real dividends down the road. See it

as using shareholder money to stock up the favor bank.

What a deal!

http://www.thestreet.com/_tsccom/funds/followmoney/10355637.html

Report this post as:

Local News

More Pix: "Families Belong Together," Pasadena J02 12:16PM

"Families Belong Together" March, Pasadena J02 12:08PM

Short Report on the Families Belong Together Protest in Los Angeles J30 4:26PM

Summer 2018 National Immigrant Solidarity Network News Alert! J10 11:58PM

Watch the Debate: Excluded Candidates for Governor of California M30 10:20PM

Change Links June 2018 posted M28 12:41AM

The Montrose Peace Vigil at 12 Years M22 1:01PM

Unity Archive Project M21 2:42AM

Dianne Feinstein's Promotion of War, Secret Animal Abuse, Military Profiteering, Censorshi M17 3:22PM

CA Senate Bill 1303 would require an independent coroner rather than being part of police M10 2:08PM

Three years after OC snitch scandal, no charges filed against sheriffs deputies M10 1:57PM

California police agencies violate Brown Act (open meetings) M02 1:31PM

Insane Company Wants To Send Nuke Plant Waste To New Mexico A29 4:47PM

Change Links May 2018 A27 1:40AM

Worker-Owned Car Wash on Vermont Closed A26 10:37PM

GUIDE TO REBEL CITY LOS ANGELES AVAILABLE A12 5:39PM

lausd whistle blower A10 11:58PM

Website Upgrade A10 3:02AM

Help KCET and UCLA identify 60s-70s Chicano images A04 1:02PM

UCLA Luskin: Casting Youth Justice in a Different Light A02 11:58AM

Change Links April 2018 A01 11:27AM

Nuclear Shutdown News March 2018 M31 6:57PM

Join The Protest Rally in Glendale on April 10, 2018! M29 7:00PM

Spring 2018 National Immigrant Solidarity Network News Alert! M19 2:02PM

Anti-Eviction Mapping Project Shows Shocking Eviction Trends in L.A. M16 5:40PM

Steve Mnuchin video at UCLA released M15 12:34AM

Actress and Philanthropist Tanna Frederick Hosts Project Save Our Surf Beach Clean Ups M06 12:10PM

After Being Told He's 'Full of Sh*t' at School Event, Mnuchin Demands UCLA Suppress Video M02 11:44AM

More Local News...

Other/Breaking News

“Animaniacs in Concert!” Starring Voice Legend Rob Paulsen J18 2:41PM

Nation's Largest Voting Machine Co., ESS, Admits Lying Re Having Installed Remote Control J18 11:55AM

Du pain et des jeux J18 9:53AM

Fbi joins with Facebook to remove this report J18 7:08AM

Paraphysique de martyrologie J17 8:00AM

Asian Countries:Cambodia, Vietnam, N. Korea do not permit unlawful immigration J16 8:06PM

Children Incorporated Earns 4-Star Rating on Charity Navigator J16 11:24AM

Democratic Socialists of America J14 4:57PM

Leonard Peltier Non Violent Native American Political Prisoner since 1970's J14 4:18PM

Paraphysique miscellanées de l'aggiornamento J14 12:54AM

Actress and Philanthropist Tanna Frederick Hosts Project Save Our Surf Beach Cleanup J13 4:14PM

FBI Investigated LA County Sheriff Baca,Why Not Hank Skinner's Persecution? J13 3:52PM

Updated Partial List Of Famous Vegetarians, Vegans, & Fruitarians J13 2:59PM

The Shortwave Report 07136/18 Listen Globally! J12 4:36PM

Social Policy as Social Infrastructure J12 3:38AM

Vol I: 84 Varieties Of GOP Election Fraud J12 1:50AM

Texas Can Call it An Execution,But It is A State Sponsored Murder of Hank Skinner.. J11 6:48PM

June 2018 Honduras coup update J11 3:35PM

Maria Estrada doubles down on racist support J11 1:40PM

New York Women in Film & Television Announces 2018 NYWIFT Ha Phuong Scholarship Recipients J11 10:14AM

Trapps de la domination, trapps de l'aliénation J11 1:31AM

Please Work For The Defeat Of Brett Kavanaugh And Why J09 8:54PM

Change Links 2018 July posted J09 1:27PM

Transinhumanisme ( transe inhumanisme ) J09 12:44PM

Google, World's Biggest Censor, Was Founded By The CIA J09 10:25AM

For a World Free of Nuclear Risks J09 8:29AM

Corrupt CDC Ignores Meat Fish Recalls J09 4:55AM

The (Temporary) End of Globalization J09 3:03AM

More Breaking News...
© 2000-2018 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy