This whole thing is a very interesting real life business case study. Speculation abound. At this point no one, not on the inside, really knows if this is an innocent mistake, total incompetence, our intentional fraud. The original question from the first post in this thread, “where did all the money go”, is a valid question. Generally speaking, the money could have gone into three broad categories, or a combination there of.
1) Invested wisely back into hard assets necessary to support a growing long term business.
2) Used to both retain and attract talented employees necessary to service a rapidly growing and health care needy senior population.
3) Diverted away from the he business to benefit the controlling principles.
Bases on the available assets, relative to liabilities (many being owed back to Medicare for overpayments and associated penalties), listed in the bankruptcy filing, it’s pretty clear the money didn’t go into option #1. It’s difficult to say where the money went between options #2 and 3? Here is hoping, for the long term best interest of all Villagers needing quality local health care, the money went the path of option #3. If the money was truly spent mostly on option #2, that’s not a good thing, as that money won’t be available in the future, and a drain of quality talent could be in the near future.
As previously noted in post #37 of this thread, the bigger picture here isn’t about blame for what has happened, it’s about the availability, going forward, of enough quality health care to meet the needs of a a very rapidly growing 55+ senior citizen retirement community that already has a highly stressed health care system. This is not only extremely important for all of us Villagers extremely important health care needs, but also the value of our Villages homes. Let’s not all bury our heads in the sand and lose track of the much bigger picture. This event casts a very dark cloud over the future of health care in our community.
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