Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#16
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#17
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I’m not sure what I’m disappointed about most. The thought of losing my provider or the Developer being so greedy. This doesn’t need settled as a bankruptcy as much as we all need to know and perhaps get back all the money that was stolen.
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#18
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What's your proof of greed??
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Identifying as Mr. Helpful |
#19
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But then again many of us have a great concept of operational expenses AND profits! And then to top it off you have Medicare Advantage, anything you want for free. Well, if you were able to get what you needed..
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#22
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Very easy to do, but we are miles away from "stolen", "greed", "throw the family in jail".
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Identifying as Mr. Helpful |
#23
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#24
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They have no obligation to "open up the books" to the public. I've never a privately held company wanting to open books to the public.
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Identifying as Mr. Helpful |
#25
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I suspect some of the above but there are others in a better position to determine what happened.
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#26
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I’m well aware that private companies aren’t required to “open up their books”. I had private placement lending specialists reporting to me when I managed the portfolio of a large life insurance company. That being said, not having an obligation to open up their books didn’t keep the private companies we lent to from opening up their books to us. If a company has nothing to hide, they would absolutely be willing to open up their books in exchange for more favorable loan terms. A couple of rules I always followed throughout my career was that I never did business with Companies that shielded transparency and I always ran away when seemingly expedited time constraints were imposed on a transaction. TVH appears to be taking evasive actions regarding transparency as well as pushing very hard for an expedited sale. Two huge red flags!
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#27
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The legal "look back" period runs 1-4 years under Federal Law, depending on the circumstances. There are no secrets in Bankruptcy, especially one of this type.
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"God made me and gave me the right to remain silent, but not the ability." Sen John Kennedy (R-La) " ... and that Norm, is why some folks always feel smarter, when they sign onto TOTV after a few beers" adapted from Cliff Claven, 1/18/90 |
#28
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#29
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As best as I can tell, Centerwell (Humana) is willing to pay $50 million for essentially taking over the 55 thousand Villages Health patients. That is essentially the only asset they will be purchasing, since there won’t be any tangible assets remaining after the creditors bankruptcy claims. My guess is that Humana would back out in a heartbeat if the bankruptcy court attaches any of TVH’s unsettled liabilities to the sale. Another concern would be if Florida Blue’s objection is honored by the bankruptcy court, which would be to void the assignability of their MA contracts if TVH does not make good on the over billing associated with their contracts. Humana must believe that after shelling out $50 million upfront, they can generate enough future profit providing health care to TVH’s 55 thousand patients, using CMS compliant billing, to meet their hurdle internal rate of return. Humana obviously believes they can operate more cost efficiently than TVH, or they wouldn’t want to take on the acquisition risk.
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#30
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According to a small article on the front page of the newspaper, TVH has accepted Centerwell’s offer pending approval by the bankruptcy court. The court is expected to make a ruling today.
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