Sunday, May 24, 2015
Quincy, IL News - QuincyJournal.com

Recent Comments

quincymike - Illinois House panel approves millionaire tax amendment - Quincy, IL News - QuincyJournal.com
They pass what they want to pass. The millionaire tax means nothing. Its merely another angle of this class warfare the Dems love to push. The What happened to term limits? Went down in flames. Its not about the people its about the political class and protecting their own turf. That is what we need to be concerned with! Higher taxes are coming soon to everyone. Think taxing retirement income and…
cgbrocksmith - Updated NASA Data: Global Warming Not Causing Any Polar Ice Retreat - Quincy, IL News - QuincyJourna
The sheeple followed the media and of course the fake and false science mislead you all. Learn the truth before you leap.
QuincyGuy - Senate Approves fast track for Obama - Quincy, IL News - QuincyJournal.com
Until we replace the current Senate and President, we will continue to have stuff like this TERM LIMITS!
QuincyGuy - Two children safe after Fri abduction - Quincy, IL News - QuincyJournal.com
Great work. It is good to see positive stories on Police and how they help keep us safe.
ONCEMORE1 - Germanfest on June 6th - Quincy, IL News - QuincyJournal.com
Is the location of this event a secret?

Most Popular

Quincy School Board to re-bid QHS construction

Local McDonalds changing hands QJ Original

Criders in court

National Study Quantifies Impact of Kroc Centers

Two children safe after Fri abduction QJ Original

Paid Ferguson protesters still waiting for the check

Real Estate Transfers May 11 thru May 15

Quincy, Adams County want your feedback

Editorials & Opinion

REBEL MEDIA: Rauner’s GTCR linked to nursing home deaths and abuse

1 year, 3 months ago by Doug Ibendahl, Republican News Watch

From by Doug Ibendahl, Republican News Watch:

Republican gubernatorial candidate Bruce Rauner pledges to run Illinois government “like a business.” In light of some disturbing facts which have come to light through multiple lawsuits involving Rauner’s former private equity firm, voters had better do their homework into what exactly the catchphrase “like a business” means to Mr. Rauner. 

The nursing home industry came under serious stress in the wake of the Balanced Budget Act of 1997. The law significantly changed Medicare’s reimbursement system. Where before Medicare had reimbursed nursing homes for their costs plus a profit, now there were strict limitations on reimbursements and new regulations on how long patients could stay in nursing homes for certain conditions.

In 2000 The Wall Street Journal said: “The vultures are circling the carnage in the nursing-home industry. With some of the largest nursing-home operators under bankruptcy protection and others heading in that direction, a number of deep-pocketed investors are preparing to swoop in on the choice morsels.”

Bruce Rauner’s Chicago-based investment firm GTCR, LLC (formerly known as GTCR Golder Rauner)decided to get in on the action and one vehicle it used was Trans Healthcare Inc. (“THI”). THI’s launch to acquire nursing homes appealed to GTCR “because a new prospective payment system for Medicare was just being implemented,” said Ned Jannotta Jr., then a GTCR principal.

Jannotta continued, “We thought it would create a lot of distress, and there would be a decline in multiples for assets and a decline in buyers for those assets.”

Rauner was with GTCR for three decades. He left the firm in October 2012 in advance of his run for governor.

GTCR’s foray into the nursing home business might have been good for the bank accounts of Bruce Rauner and his friends. But according to court documents, some elderly residents of those nursing homes paid the ultimate price.

Click Here to Read Full Article


From the Newsroom

QuincyJournal on Twitter

QuincyJournal 1 hour, 42 minutes ago

Updated NASA Data: Global Warming Not Causing Any Polar Ice Retreat http://t.co/ipwRuR6w1y
QuincyJournal on Twitter

QuincyJournal 6 hours, 40 minutes ago

Scout cornfields for black cutworms, Purdue pest management expert advises http://t.co/MCooDrxdYu
QuincyJournal on Twitter

QuincyJournal 21 hours, 37 minutes ago

Muddy River Opera presents La Boheme by Puccini http://t.co/C0VSWZ4AMm
QuincyJournal on Twitter

QuincyJournal 22 hours, 37 minutes ago

Lebron leads Cavs to a 2-0 series lead over Atlanta http://t.co/wwhNBosLLR