Don't Thank Me....--3/10

Don't thank me so quickly--any change is going to cost in the short-term. A lot of what has been thrown out is true: I just can't see Essent making the changes necessary to improve the situation. I think that it's a matter of control.

Crossroads lost money through most of its tenure, yet they held on to it as long as they did--five years. If we are still in a money-making situation, then they will be hard-pressed to let go.

Crossroads was an ego thing as well: Their first venture. PRMC is their first 'larger' hospital. It doesn't seem like Hud would take failure well.

Obviously our hospital had to make changes, it was bleeding red because of the attitude of (local) administration and a good many employees. But the idea that Essent had the only ideas for change is insufferably arrogant.

Many of us had noted the waste, the poorly planned projects (Gibraltar Hotel), and above all the phrase, "We're non-profit, we don't have to worry about that." Even non-profits have to watch the bottom line, or the lights go out.

One analyst forecasted one more acquisition before Hud marketed or IPOed the package, maybe he’s right, and Southwestern (in Pennsylvania??? Like calling us Northeastern...) would be the last. If not, maybe this will prove to be more costly than they expected, with as many temps as they are using! (Figure 2-3x what regular staff would have cost.) The balance sheet must be soaked in red ink. If it isn’t, doesn’t that tell you what a poor job Monty and his ’band of brothers’ was doing?

One is drawn back to Crossroads, and wonder if the problems there are resurfacing? With the statement of one of the former administrators that it was only profitable one out of five years, kind of makes you think that their rough-shod ways didn’t go over any better there than here….