There are strengths and weaknesses to all five of the lease proposals for Albemarle Hospital, say officials who will have the ultimate responsibility of choosing one them.
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Comments
Inside job!!!!!
Research "Dixon Hughes Goodman LLP Sentara LinkedIn Bryce Snyder CPA" in google! He is a top CPA for Sentara Tidewater region, he used to work in management for Dixon Hughes Goodman LLP until last February.
The proposals financial summary was NOT done by an indepent non affiliated accounting firm! Is this the reason for a 10 million dollar mistake? This could be an inside job, this smells!!! Dixon Hughes Goodman LLP should remove themselves from this case.
Transparency?
At what time did the leadership of Albemarle Hospital borrow 46 million? Who loaned them the money? What assets are obligated for this debt? County taxpayers through a bond issue in the late 50's paid for the land and the original building. Now we find that there is this enormous debt and nobody seems to know anything about it. Maybe the State Auditor needs to look at the past actions of this group because something is not right out there. Aint Bee has run our hospital into the ground and one wonders if her CMO, Dr. Firecracker, has completed his court ordered mental health evaluation. The County Commission needs to show some leadership and start holding the hospital board accountable. The citizens of Pasquotank County deserve better!
Read what White said carefuly
White thinks that the Hospital Authority Board is separate from the county. LOL, good one. So the board who is supposed to watch the management of the hospital since it's a country owned asset is not part of the county. So then it is not responsible to the citizens of the county then? To top it off this entity can run up a 64 million + debt with-out any assets? Who do they think they are fooling? This is not legal. The county is going to get slammed by a lawsuit from the lenders.
Where is transparency when the financial summary is off
Where is transparency when the financial offers for the hospital are off by nearly 10 million dollars! I heard rumors that Sentra was paying people off under the table but I always ignore such rumors. A 10 million dollar mistake though? Add intrest (4 percent) and all the money paid from Sentra and Lifepoint go to only paying the debt intrest.
before tANNER
and during the tenure of CFO Witosky the Hospital enjoyed a substantial money cushion.....and now we are $64 million in debt.... I think the members of the Hospital Authority were asleep at the wheel while tanner robbed us. I hope an explanation of that debt will be explained and I think that the commissioners need to seriously look at replacing members of the current board with those willing to do the job and not become "yes men"
I totally agree!
Albemarle Hospital used to be one of the most financially stable hospitals in the state with a large cushion. Why did the Hospital Board fail us? The 12 years under Tanner should only have been 6 if the board was doing their jobs. I think it comes down to three items 1) Tanner ran off Drs who made the hospital money and didn't do her job 2) The area changed, 70 percent of all patients are either Medicare, Medicaid, or Pay what you can. Add to the fact District 1 is one of the most unhealthiest in the state (more charity work when hospitalized). 3) 68 percent of potential insured patients go north for care.
Vident only reasonable offer
Once you figure in county owned debt or what will be left of it only Vident's offer is reasonable. Lifepoint the county will be paying the same amount in interest as they are getting, nearly the same with Sentara.
Senatra and Vidents offer are the same once math is done
Everyone check out ahfuture(dot)org to see that once you calculate in the debt Vidents offer is the same as Sentaras. Sentara is only offering $25 million toward debt and wind down and Vident is assuming ALL debt which if the article is correct $10 million higher than the summary sheet written by Dixon Hugh Goodman LLP. They got the numbers wrong listing debt as $55 Million when it is $65 million skewing all of the numbers!
Mr. Meads is spot on!
You're right on track Mr. Meads! Money isn't everything, nor is a long term lease good for our community. Think about the last long term lease signed for this area. I'm referring to the ElectriCities lease that has the EC and their electrical customers on the hook, for mostly forever it seems, with higher than high electrical bills. It looked REAL GOOD at the start and then quickly became everyone's worst nightmare.
Please, Please, Mr. Meads and Mr. White, don't let the county or our area down. Both of you are being sensible and thinking about the good of the community. Stay on track with your rational thinking.
God bless you both!
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