StrangeTony,
Kindred's investor presentation at Jeffries Global Healthcare Conference touched on its desire to buy Gentiva:
So how do we get there; well first, we really want to get into a room and work with the Gentiva management team to understand their business plan so they can understand our offer better.
One has to listen to understand. I see Gentiva's senior leaders gave Kindred the same ear it's offered employees the last several years.
Kindred wants one group to listen and pressure Gentiva to the negotiating table, Wall Street investment houses.
All of the analysts that cover Gentiva share this view. If you look at the commentary in terms of the strategic premises we’ve talked about here, the industrial logic, the financial capabilities of the combined company, I have not seen anyone who doesn’t think this transaction doesn’t make sense, and we think ultimately it will make sense to the board and the management team of Gentiva. And again, we look forward to those conversations.
I look forward to Gentiva senior leaders listening to employees. We'll see which conversation occurs first.
Anonymous (from Gentiva)
Gentiva Healthcare, Mr. Strange, Gentiva Healthcare has 33 different vice presidents each earning over 200 thousand dollars a year. Now, I have spent the last two months analyzing what all these guys do, and I still can't figure it out. One thing I do know is that your healthcare company lost money last year, and I'll bet that half of that was spent in all the paperwork going back and forth between all these vice presidents. The new law of evolution in corporate America seems to be survival of the unfittest. Well, in my book you either do it right or you get eliminated.
ReplyDeleteIn the last seven deals that I've been involved with, there were 2.5 million stockholders who have made a pretax profit of 12 billion dollars. Thank you. I am not a destroyer of companies. I am a liberator of them! The point is, ladies and gentleman, that greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind. And greed, you mark my words, will not only save Gentiva, but that other malfunctioning industry called healthcare. Thank you very much.
Paul Diaz
StrangeTony of Generic Hospice is not to be confused with Tony Strange of Gentiva. Gentiva's Tony has greed down, which is why he doesn't want to give up the pot of post-acute care gold he sees at the end of the health reform rainbow.
ReplyDeleteKnowledge is not synonymous with greed. Extrinsic motivators destroy intrinsic ones. The result is the Veterans Administration, where people lie, cheat or steal to garner the prize, either getting the bonus award or "meeting" the imposed performance standard, which has nothing to do with system capability.
Our management is killing us and Obamacare brings toxic reward systems to already dysfunctional healthcare. The clinical lowest common denominator awaits most Americans, while corporate flippers get executive health care.
Kindred will win or lose Gentiva. Paul Diaz and Tony Strange will be financially set. Each in his own way will have done massive harm to the people they are supposed to serve. Their management theory and methods ensure it.
How proud is a mother who's friend called her boy greedy, hyper-competitive, a poor loser? Most would say I tried to raise him right, but there's something broken, damaged inside.
Greed kills in more ways than one.