DarkFury
Platinum Member
- Banned
- #1
I knew about this story first hand because I was one of the people assigned by the state of Washington to review and report on BEI and its practices. Hillary Clinton at that time was found GUILTY of setting up a "shell" company to protect a Texas banker. Its a long story but its all I will provide. Lets open with this....
"Robert Van Tuyle stepped down as chairman of the board in May 1990, after 19 years of leadership. He was succeeded by David Banks. In summer 1990, the company moved its headquarters from Pasadena to Fort Smith, Arkansas. The move to new headquarters, in the back of a shopping center, was a cost-cutting measure, and it also put the company in closer proximity to its major shareholder, the Little Rock investment firm, Stephens Inc. Stephens owned 10 percent of Beverly's stock, and the firm had a keen interest in keeping Beverly financially sound. Stephens helped Beverly put through a sale of 41 of its Iowa nursing homes in 1990 to raise cash. The 41 homes were acquired by anonprofit corporationcalled Mercy Health Initiatives (later known as Care Initiatives), financed by $86 million in tax-exempt revenue bonds. This deal became the subject of controversy when an Iowa Supreme Court judge found that Care Initiatives was a "shell" nonprofit controlled by a Texas banker, not truly a charitable institution. The banker had made a profit of at least $15 million. The story attracted more attention than it might have because the transaction had been handled by the Rose Law Firm, where First Lady Hillary Rodham Clinton worked, and two of the lawyers involved were close aides to President Clinton."
The BEI company was later found guilty of covering up rapes/physical abuse/mental abuse/economic abuse and fraud. Like I said its long but damn, you want HER in charge of your healthcare?
Read more:Beverly Enterprises, Inc. - Company Profile, Information, Business Description, History, Background Information on Beverly Enterprises, Inc.
Beverly Enterprises, Inc. - Company Profile, Information, Business Description, History, Background Information on Beverly Enterprises, Inc.
"Robert Van Tuyle stepped down as chairman of the board in May 1990, after 19 years of leadership. He was succeeded by David Banks. In summer 1990, the company moved its headquarters from Pasadena to Fort Smith, Arkansas. The move to new headquarters, in the back of a shopping center, was a cost-cutting measure, and it also put the company in closer proximity to its major shareholder, the Little Rock investment firm, Stephens Inc. Stephens owned 10 percent of Beverly's stock, and the firm had a keen interest in keeping Beverly financially sound. Stephens helped Beverly put through a sale of 41 of its Iowa nursing homes in 1990 to raise cash. The 41 homes were acquired by anonprofit corporationcalled Mercy Health Initiatives (later known as Care Initiatives), financed by $86 million in tax-exempt revenue bonds. This deal became the subject of controversy when an Iowa Supreme Court judge found that Care Initiatives was a "shell" nonprofit controlled by a Texas banker, not truly a charitable institution. The banker had made a profit of at least $15 million. The story attracted more attention than it might have because the transaction had been handled by the Rose Law Firm, where First Lady Hillary Rodham Clinton worked, and two of the lawyers involved were close aides to President Clinton."
The BEI company was later found guilty of covering up rapes/physical abuse/mental abuse/economic abuse and fraud. Like I said its long but damn, you want HER in charge of your healthcare?
Read more:Beverly Enterprises, Inc. - Company Profile, Information, Business Description, History, Background Information on Beverly Enterprises, Inc.
Beverly Enterprises, Inc. - Company Profile, Information, Business Description, History, Background Information on Beverly Enterprises, Inc.
