Gentiva's 2012 Performance

StrangeTony,

The real Tony Strange commented on Gentiva's 4th quarter and 2012 financials. Financial analysts seemed impressed the company has a new Executive Chairman. Rod Windley.  Strange stated Windley already sat on the board but will go from working 20% of his time on behalf of Gentiva to working 100%.  Windley made roughly $250,000 in board compensation working part time.  Turning that pay rate into full time means over $1 million in compensation.  That's a new $750,000 of corporate overhead.

Analysts also noted Gentiva's cash position of $200 million.  They wondered what management planned to do with these resources.  Here's what the company won't do:

Company policy does NOT allow Gentiva to provide scrubs for employees at this time.

Company policy does NOT allow Gentiva employees to receive a raise.

Company policy does NOT enable clinical employees to be fully reimbursed for their mileage driven or be paid the full federal mileage rate.

Company policy does NOT allow for company paid Christmas parties

Company policy does NOT allow for wages to remain competitive or for scales to hold integrity over time.

Company policy does NOT allow for employees to share their voice via a company-wide employee survey.

Company policy does NOT allow for employees to share their ethical concerns in a confidential manner via telephone.

One thing's for sure.  Gentiva won't put the $200 million into its employees.  However it did put $5 million into buying back stock during the first three quarters of 2012.

Anonymous