Net Worth:$1.7 bil
Fortune:self made
Source:HCA Healthcare
Age:70
Country Of Citizenship:United States
Residence:Nashville, Tennessee
Industry:Health Care
Education:Vanderbilt University, Bachelor of Arts / Science, Washington University, Medical Doctor
Marital Status:married, 3 children
Former Air Force flight surgeon took HCA, nation's largest hospital operator, private with Bain Capital, KKR and Merrill Lynch in 2006. At the time the $33 billion leveraged buyout was the largest in history; eclipsed by $45 billion purchase of power giant TXU four months later. "Being private in these times is a blessing. The timing couldn't have been better." Founded Hospital Corp. of America with father and Jack Massey 1968; took public following year. Led management buyout 1989; took public again 3 years later. Merged with Richard Rainwater's 1994, became chief exec again 3 years later. Nashville native left board in January, now focused on philanthropy through family foundation.
Friday, March 13, 2009
Thursday, March 12, 2009
"update of the August 10 R&D Earmarks analysis..."
Congress Piles on R&D Earmarks in 2006 Appropriations
(This analysis is an update of the August 10 R&D Earmarks analysis. Please see the August 10 analysis for full information. This update covers developments since August.)
- As the FY 2006 appropriations process drags on well into the new fiscal year, Senate appropriators are on a record-setting pace for R&D earmarks with $1.5 billion so far (see Table A and Figure 1). House R&D earmarks are lagging behind Senate levels because of tighter budget targets, but final FY 2006 appropriations could end up adding House and Senate earmarks together instead of splitting differences.
- Since August, the Senate has drafted a Department of Defense (DOD) appropriations bill containing $520 million in R&D earmarks, bringing the total to $1.5 billion among all agencies. Like the House, the Senate’s earmarks are concentrated: four agencies (DOD, $520 million; USDA, $334 million; DOE, $318 million; and Commerce, $198 million) receive 91 percent of Senate R&D earmarks, while NIH,NSF, DHS, and other agencies are earmark-free.
- FY 2006 R&D earmarks are likely to exceed the $1.9 billion total in 2004 or the $2.1 billion total in FY 2005 if House and Senate earmarks are combined in final budgets. In finalizing the USDA budget,congressional negotiators allocated $334 million for R&D earmarks, more than earlier House ($183 million) and Senate ($292 million) bills had provided.
(This analysis is an update of the August 10 R&D Earmarks analysis. Please see the August 10 analysis for full information. This update covers developments since August.)
- As the FY 2006 appropriations process drags on well into the new fiscal year, Senate appropriators are on a record-setting pace for R&D earmarks with $1.5 billion so far (see Table A and Figure 1). House R&D earmarks are lagging behind Senate levels because of tighter budget targets, but final FY 2006 appropriations could end up adding House and Senate earmarks together instead of splitting differences.
- Since August, the Senate has drafted a Department of Defense (DOD) appropriations bill containing $520 million in R&D earmarks, bringing the total to $1.5 billion among all agencies. Like the House, the Senate’s earmarks are concentrated: four agencies (DOD, $520 million; USDA, $334 million; DOE, $318 million; and Commerce, $198 million) receive 91 percent of Senate R&D earmarks, while NIH,NSF, DHS, and other agencies are earmark-free.
- FY 2006 R&D earmarks are likely to exceed the $1.9 billion total in 2004 or the $2.1 billion total in FY 2005 if House and Senate earmarks are combined in final budgets. In finalizing the USDA budget,congressional negotiators allocated $334 million for R&D earmarks, more than earlier House ($183 million) and Senate ($292 million) bills had provided.
Bigger than Enron-Financial FRAUD
How long was Sen Grassley Chairman of the Finance Com? Our financial system went off a cliff Sep 08
Wednesday, March 11, 2009
Where does Assosciated Press get their information...Bigger then Enron...they don't even touch the real story...Richard Scott can you find him here?
Sentencing set for Ohio CEO in $1.9B fraud case
Associated Press - March 11, 2009 12:13 PM ET
COLUMBUS, Ohio (AP) - The former chief executive of a failed health care financing company will learn his sentence later this month in a $1.9 billion fraud case.
U.S. District Court Judge Algenon Marbley will sentence 65-year-old Lance Poulsen on March 27 in Columbus.
Marbley set the date in a court filing Wednesday.
Poulsen was convicted in October on 12 counts of securities fraud, wire fraud and money laundering.
Prosecutors likened the fraud uncovered at National Century Financial Enterprises in suburban Columbus to the Enron or WorldCom scandals.
Poulsen faces up to 135 years in prison, though his actual sentence will likely be shorter under federal sentencing guidelines.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Associated Press - March 11, 2009 12:13 PM ET
COLUMBUS, Ohio (AP) - The former chief executive of a failed health care financing company will learn his sentence later this month in a $1.9 billion fraud case.
U.S. District Court Judge Algenon Marbley will sentence 65-year-old Lance Poulsen on March 27 in Columbus.
Marbley set the date in a court filing Wednesday.
Poulsen was convicted in October on 12 counts of securities fraud, wire fraud and money laundering.
Prosecutors likened the fraud uncovered at National Century Financial Enterprises in suburban Columbus to the Enron or WorldCom scandals.
Poulsen faces up to 135 years in prison, though his actual sentence will likely be shorter under federal sentencing guidelines.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Tuesday, March 10, 2009
Bigger than ENRON JUDGES....OHIO and TENNESSEE
What do you want from Southern Ohio?
Really?
You have the Bankruptcy Judge in Memphis telling lawyers not to sue the 'F'raud worj in her court amidst of the NCFE FRUADULENT CLAIMS,,,,why would this judge in SOUTHERN Ohio be any different?
Ex-National Century Exec Drops Claims V. JPMorgan
Law360, New York (March 09, 2009) -- A judge has signed off on the stipulated dismissal of crossclaims brought by a former National Century Financial Enterprises Inc. executive against JPMorgan Chase & Co. and two of the company's former outside directors in multidistrict litigation over the health care lender's multibillion-dollar collapse.
Judge James L. Graham of the U.S. District Court for the Southern District of Ohio approved the dismissal with prejudice Friday and brought the crossclaims by former National Century Chief...
Really?
You have the Bankruptcy Judge in Memphis telling lawyers not to sue the 'F'raud worj in her court amidst of the NCFE FRUADULENT CLAIMS,,,,why would this judge in SOUTHERN Ohio be any different?
Ex-National Century Exec Drops Claims V. JPMorgan
Law360, New York (March 09, 2009) -- A judge has signed off on the stipulated dismissal of crossclaims brought by a former National Century Financial Enterprises Inc. executive against JPMorgan Chase & Co. and two of the company's former outside directors in multidistrict litigation over the health care lender's multibillion-dollar collapse.
Judge James L. Graham of the U.S. District Court for the Southern District of Ohio approved the dismissal with prejudice Friday and brought the crossclaims by former National Century Chief...
Monday, March 9, 2009
Economic Pear Harbor
CNBC great show? Well let us look at John Stewart's clip showing us how GREAT CNBC is!
IDIOTS!
N.Y. Times, 'CNBC Thrives as Hosts Deliver News With Attitude,' by Brian Stelter and Tim Arango: 'One month shy of its 20th anniversary, CNBC is being jokingly called 'the recession network' within the halls of its headquarters in New Jersey. After it achieved record ratings last fall, the network's audience remains above its annual average. But CNBC's executives and hosts seem well aware that their ratings have traditionally stagnated in down times for the Dow. 'People do not want to come to a show each night and hear how poor they are,' ['Mad Money' host Jim] Cramer said. But in a change from previous downturns, CNBC is now a place for politics, to borrow a phrase from its sister channel MSNBC. The network's journalists have been encouraged to speak their minds, making the line between reporter and commentator almost indistinguishable at times. ... With economic attention focused on Washington, the network is spending less time on bullish stock picks and more time assessing the government's actions. In recent weeks some have perceived the network to be leading the campaign against President Obama's economic agenda. ... Just as the first cable news channel, CNN, rose to prominence during the gulf war in 1991, and another one, the Fox News Channel, became a ratings leader in the period before the Iraq war in 2002 and 2003, CNBC is on a war footing. ... CNBC is a boon to NBC Universal's bottom line; it has posted record profits for at least the last three years.'
John Stewart, where are you?
IDIOTS!
N.Y. Times, 'CNBC Thrives as Hosts Deliver News With Attitude,' by Brian Stelter and Tim Arango: 'One month shy of its 20th anniversary, CNBC is being jokingly called 'the recession network' within the halls of its headquarters in New Jersey. After it achieved record ratings last fall, the network's audience remains above its annual average. But CNBC's executives and hosts seem well aware that their ratings have traditionally stagnated in down times for the Dow. 'People do not want to come to a show each night and hear how poor they are,' ['Mad Money' host Jim] Cramer said. But in a change from previous downturns, CNBC is now a place for politics, to borrow a phrase from its sister channel MSNBC. The network's journalists have been encouraged to speak their minds, making the line between reporter and commentator almost indistinguishable at times. ... With economic attention focused on Washington, the network is spending less time on bullish stock picks and more time assessing the government's actions. In recent weeks some have perceived the network to be leading the campaign against President Obama's economic agenda. ... Just as the first cable news channel, CNN, rose to prominence during the gulf war in 1991, and another one, the Fox News Channel, became a ratings leader in the period before the Iraq war in 2002 and 2003, CNBC is on a war footing. ... CNBC is a boon to NBC Universal's bottom line; it has posted record profits for at least the last three years.'
John Stewart, where are you?
Sunday, March 8, 2009
Richard Scott the MEDICAID FRAUD THIEF writes to President....PLEASE !
"Mr. President, Americans don’t want surprises…Please tell us the specifics of
your plan so that all Americans can make a judgment on it for themselves."
The epitome of Fraud Waste and Abuse---Richrd Scott & Richard Rainwater!
Summary: The Wall Street Journal reported that Richard Scott, "the former chief executive of HCA Inc," had formed the non-profit organization Conservatives for Patients' Rights as part of a "lobbying campaign to derail or modify" President Obama's health care proposals, but failed to note that Scott resigned from HCA in 1997 amid a federal investigation into the company's Medicare billing, physician recruiting, and home-care practices. HCA eventually pleaded guilty to fraud charges and paid approximately $1.7 billion in fines and penalties.
THURSDAY, JUNE 26, 2003; WWW.USDOJ.GOV;
HCA Inc. (formerly known as Columbia/HCA and HCA - The Healthcare Company)
LARGEST HEALTH CARE FRAUD CASE IN U.S. HISTORY SETTLED; HCA INVESTIGATION NETS RECORD TOTAL OF $1.7 BILLION
Note: Hospital Corporation of America (HCA) was acquired by Columbia in 1994.
Who is Richard Scott? Who is Richard Rainwater? Who is Darla Moore?
Dear Mr. President:
Americans generally agree that our health care system is too expensive.
You made health care a centerpiece of your campaign and just last week announced a sweeping
$634 billion plan to reform our nation’s health care system. While you were very specific
about how you would pay for this plan, you offered virtually no details on your plan itself.
One of our basic rights as consumers is to be able to shop and compare. As taxpayers, we should have
the ability to not only know the cost of your plan, but the specifics of what we get out of your plan.
That is the only way Americans can make an informed decision.
As you convene your health care summit at the White House, we call upon you to lay out the
details and specifics of your plan for all to see. We are entitled to a healthy debate on how
your plan will impact each of us.
Many Americans are leery about allowing the government to have a more significant role in
making private health care decisions that should only be made by a patient and their doctor.
Americans learned that buried deep inside your stimulus plan was a very ominous sounding
“Federal Coordinating Council.” This “Council” could have a very far reaching impact on
how our doctors treat us in the future.
Mr. President, Americans don’t want surprises. And we don’t want national boards or faceless
bureaucrats taking away our rights to make our own health decisions in the name of
controlling costs.
Sharing the details of your plan is the best way to allay our fears and end the speculation. Please
tell us the specifics of your plan so that all Americans can make a judgment on it for themselves.
Respectfully,
Rick Scott
Conservatives for Patients’ Rights
http://cprights.org/pdf/openletter20090305.pdf
your plan so that all Americans can make a judgment on it for themselves."
The epitome of Fraud Waste and Abuse---Richrd Scott & Richard Rainwater!
Summary: The Wall Street Journal reported that Richard Scott, "the former chief executive of HCA Inc," had formed the non-profit organization Conservatives for Patients' Rights as part of a "lobbying campaign to derail or modify" President Obama's health care proposals, but failed to note that Scott resigned from HCA in 1997 amid a federal investigation into the company's Medicare billing, physician recruiting, and home-care practices. HCA eventually pleaded guilty to fraud charges and paid approximately $1.7 billion in fines and penalties.
THURSDAY, JUNE 26, 2003; WWW.USDOJ.GOV;
HCA Inc. (formerly known as Columbia/HCA and HCA - The Healthcare Company)
LARGEST HEALTH CARE FRAUD CASE IN U.S. HISTORY SETTLED; HCA INVESTIGATION NETS RECORD TOTAL OF $1.7 BILLION
Note: Hospital Corporation of America (HCA) was acquired by Columbia in 1994.
Who is Richard Scott? Who is Richard Rainwater? Who is Darla Moore?
Dear Mr. President:
Americans generally agree that our health care system is too expensive.
You made health care a centerpiece of your campaign and just last week announced a sweeping
$634 billion plan to reform our nation’s health care system. While you were very specific
about how you would pay for this plan, you offered virtually no details on your plan itself.
One of our basic rights as consumers is to be able to shop and compare. As taxpayers, we should have
the ability to not only know the cost of your plan, but the specifics of what we get out of your plan.
That is the only way Americans can make an informed decision.
As you convene your health care summit at the White House, we call upon you to lay out the
details and specifics of your plan for all to see. We are entitled to a healthy debate on how
your plan will impact each of us.
Many Americans are leery about allowing the government to have a more significant role in
making private health care decisions that should only be made by a patient and their doctor.
Americans learned that buried deep inside your stimulus plan was a very ominous sounding
“Federal Coordinating Council.” This “Council” could have a very far reaching impact on
how our doctors treat us in the future.
Mr. President, Americans don’t want surprises. And we don’t want national boards or faceless
bureaucrats taking away our rights to make our own health decisions in the name of
controlling costs.
Sharing the details of your plan is the best way to allay our fears and end the speculation. Please
tell us the specifics of your plan so that all Americans can make a judgment on it for themselves.
Respectfully,
Rick Scott
Conservatives for Patients’ Rights
http://cprights.org/pdf/openletter20090305.pdf
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