Poor babies: UNHC is so over regulated their former CEO walked away with a measly $1.78 billion (minus apparently $400 million that wasn't really his)
UnitedHealth suffers financial setback April 23, 2008 — 6:59am ET "After years of allegations that management engaged in financial manipulations to feather their own nest, some might see this as a bit of karma. Having already missed its first quarter financial targets, UHG has had to cut its full-year profit outlook. The company, which expects 2008 revenue around $82 billion, lowered its profit outlook by 40 cents a share to about $3.60. While UHG faces some unique challenges, this mirrors losses posted by other health plans, many of which seem likely to kick up premiums substantially at their next opportunity. One major factor in UHG's adjusted prediction was customer losses. The company lost 530,000 commercial members during Q1 of this year, including 250,000 from its PacifiCare unit. Meanwhile, enrollment in its Medicare Part D program fell by 290,000. To boot, medical costs went up faster than income, despite raised premiums in 2006 and 2007. This comes just as the air has started to clear from its former CEO's departure. Less than 18 months ago, former CEO William McGuire left the company with a mindbogglingly-golden parachute, options worth $1.78 billion at the time. Since then, McGuire has been forced to give up at least $400 million in assets, after regulators concluded that the options were back-dated to give him the highest possible value." http://www.fiercehealthcare.com/story/unitedhealth-suffers-financial-setback/2008-04-23 On Jul 6, 2:06 pm, bruce majors <[email protected]> wrote: > that's pretty much meaningless gibberish > our current insurance is government insurance already given how regulated it > is > > On Mon, Jul 6, 2009 at 2:27 PM, Frederick The Moderate < > > [email protected]> wrote: > > > 1. He would, as quickly as possible, take every possible step to > > reform healthcare and offer a government-sponsored alternative to > > private insurance. > > > On Jul 6, 11:24 am, bruce majors <[email protected]> wrote: > > > yes what was it > > > > On Mon, Jul 6, 2009 at 1:56 PM, dick thompson <[email protected] > > >wrote: > > > > > Name one!! > > > > > Frederick The Moderate wrote: > > > > > I didn't bother to read the post (I would prefer to read original > > > > thoughts from forum members) but the gist is obvious by the title. > > > > It's only been a very short time but think Obama is keeping many of > > > > his promises. > > > > > On Jul 6, 7:32 am, dick thompson <[email protected]> < > > [email protected]> wrote: > > > > > Strange to see the Miami Herald talk about their president fulfilling > > > > his promises. What planet are they from that they expect a grad of the > > > > Chicago School of Politics to do what he promised to do. Those of us > > > > who did not support him asked the question at the time but the media > > > > never saw fit to examine the damaged goods they supported. Now we are > > > > stuck with this idiot. > > > > > Posted on Monday, 07.06.09 > > > > > * > > > > Recommend > > > > < > >http://www.miamiherald.com/opinion/editorials/story/1128722.html#none> < > >http://www.miamiherald.com/opinion/editorials/story/1128722.html#none> > > > > (0) > > > > * share > > > > < > >http://www.miamiherald.com/opinion/editorials/story/1128722.html#> < > >http://www.miamiherald.com/opinion/editorials/story/1128722.html#> > > > > * email > > > > < > >http://www.miamiherald.com/opinion/editorials/v-emailform/story/11287...> > > <http://www.miamiherald.com/opinion/editorials/v-emailform/story/11287...> > > > > * print > > > > < > >http://www.miamiherald.com/opinion/editorials/v-print/story/1128722.html> > > <http://www.miamiherald.com/opinion/editorials/v-print/story/1128722.html> > > > > * comment > > > > < > >http://www.miamiherald.com/opinion/editorials/story/1128722.html#comment> > > <http://www.miamiherald.com/opinion/editorials/story/1128722.html#comment> > > > > * reprint <http://www.miamiherald.com/reprints/> < > >http://www.miamiherald.com/reprints/> > > > > > FARK it!< > >http://cgi.fark.com/cgi/fark/farkit.pl?u=http://www.miamiherald.com/o...> > > <http://cgi.fark.com/cgi/fark/farkit.pl?u=http://www.miamiherald.com/o...> > > > > > Send to AIM<aim:goim?Message= > >http://www.miamiherald.com/454/story/1128722.html> > > > > Seed Newsvine <javascript:void(0)> > > > > Add to Reddit< > >http://reddit.com/submit?url=http://www.miamiherald.com/454/story/112...> > > <http://reddit.com/submit?url=http://www.miamiherald.com/454/story/112...> > > > > > Add to Google Bookmarks< > >http://www.google.com/bookmarks/mark?op=add&bkmk=http://www.miamihera...> > > <http://www.google.com/bookmarks/mark?op=add&bkmk=http://www.miamihera...> > > > > > Thumb this up at StumbleUpon. <http://www.stumbleupon.com/submit> < > >http://www.stumbleupon.com/submit> > > > > Publish this post to LinkedIn <http://www.linkedin.com/shareArticle> < > >http://www.linkedin.com/shareArticle> > > > > Add to del.icio.us <http://del.icio.us/post> <http://del.icio.us/post > > ><http://buzz.yahoo.com/buzz?publisherurn=the_miami_herald&guid=http%3A...> > > <http://buzz.yahoo.com/buzz?publisherurn=the_miami_herald&guid=http%3A...> > > > > > Post to MySpace <http://www.myspace.com/index.cfm?fuseaction=postto> < > >http://www.myspace.com/index.cfm?fuseaction=postto> > > > > Add to facebook< > >http://www.facebook.com/sharer.php?u=http://www.miamiherald.com/opini...> > > <http://www.facebook.com/sharer.php?u=http://www.miamiherald.com/opini...> > > > > > DIGG This< > >http://digg.com/submit?url=http://www.miamiherald.com/454/story/11287...> > > <http://digg.com/submit?url=http://www.miamiherald.com/454/story/11287...> > > > > > Bookmark this post on Twitter. <http://twitter.com/home> < > >http://twitter.com/home> > > > > > President Obama should do what he says about secrecy > > > > > OUR OPINION: President Obama promised transparency but often sides > > > > with secrecy > > > > > *A*s a candidate for president, Sen. Barack Obama vowed to run an open > > > > government. He reiterated that pledge on Inauguration Day: > > > > ''Transparency and the rule of law will be the touchstones of this > > > > presidency,'' he said. > > > > > Nearly six months later, advocates of open government are still waiting > > > > for the president to fulfill this promise. Compared to the Bush > > > > presidency, this administration is doing better. But what President > > > > Obama has /done/, compared to what he /said/ he would do, are two > > > > different things, thanks in part to the unequivocal language he used > > and > > > > the expections he raised. > > > > > *Ended Ashcroft order* > > > > > The president deserves credit for taking action on his first day in > > > > office to rescind a 2001 memo by then-Attorney General John Ashcroft > > > > giving agencies broad legal cover to reject public disclosure requests. > > > > He also revoked an executive order signed by former President George W. > > > > Bush in 2001 that limited release of former presidents' records, and > > > > replaced it with new language aimed at more transparency. > > > > > Ending unnecessary secrecy, however, has apparently proven tougher than > > > > the president expected. He has come down on the side of keeping the > > > > public uninformed in a variety of decisions that, as a candidate, he > > > > might well have scorned. > > > > > One of the most troubling instances occurred last month, involving > > White > > > > House refusal to turn over White House visitor logs by coal industry > > > > executives. An organization called Citizens for Responsibility and > > > > Ethics in Washington has filed a lawsuit, saying the Obama White House > > > > is essentially embracing the Bush administration position on the > > secrecy > > > > of the comings and goings of visitors to the executive mansion. > > > > > This makes for a murky transparency policy. > > > > > White House spokesman Robert Gibbs said lawyers were reviewing the > > > > policy regarding the release of visitor logs. They should start by > > > > reading the well-publicized ''memorandum of transparency'' that > > > > President Obama signed on his first day in office. > > > > > The president said open government was a way to hold government > > > > accountable, ``so that the American people can know exactly what > > > > decisions are being made, how they're being made, and whether their > > > > interests are being well served.'' > > > > > Nice words, but if the White House doesn't stop hiding the logs, no one > > > > else in government can be expected to take the disclosure policy > > seriously. > > > > > The president's record of open government has fallen short of > > > > fulfillment most often on issues involving national security. > > > > > The White House agreed to release memorandums detailing the alleged > > > > torture of detainees, sparking criticism from former Bush > > administration > > > > officials. But in other instances the president has either embraced Mr. > > > > Bush's positions or changed his mind about following through on > > promises > > > > of disclosure. > > > > > At first, the White House said it would support the release of photos > > of > > > > detainee abuse but later reversed course and decided to leave it up to > > > > the courts. Concerns about secrecy and repercussions are valid, but > > > > passing the buck to the courts on this issue does not add to the > > > > president's credibility regarding disclosure. > > > > > The White House has also continued the Bush administration's objections > > > > to the release of an interview that former Vice President Dick Cheney > > > > gave to the FBI during its investigation of the leak of CIA agent > > > > Valerie Plame's identity. Again emulating the Bush administration, the > > > > current occupant of the White House has moved to dismiss lawsuits > > > > seeking White House e-mails from the past several years. > > > > > *Using legal tactic* > > > > > Mr. Obama's administration has not hesitated to fight disclosure in > > > > court, either. In May, it supported the ''state secrecy'' doctrine in a > > > > case involving a lawsuit against a government contractor by five > > victims > > > > of ``extraordinary rendition.'' > > > > > This is the legal tactic that says the government can prevent the > > courts > > > > from hearing claims by those who say they were hurt by federal actions > > > > -- because the need for state secrecy requires it. > > > > > That is exactly the same position the Bush administration took, a > > policy > > > > that allows government to evade the accountability that Mr. Obama vowed > > > > to champion. In turning down the administration's appeal, a judge noted > > > > that the policy is often a convenient way for governments to hide > > > > politically embarrassing information. > > > > > The administration claims it has valid reasons in each of these > > > > instances to opt for secrecy, but the pattern is both disappointing and > > > > a far cry from what Mr. Obama led voters to believe during the > > campaign. > > > > > The government has a legitimate right to protect certain information. > > > > But the record indicates that given a choice between disclosure and > > > > secrecy, Mr. Obama is falling into the appalling habit of hiding the > > facts. > > > > > * recommend > > > > < > >http://www.miamiherald.com/opinion/editorials/story/1128722.html#> < > > ... > > read more » --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. 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