by Doug Ibendahl, Republican News Watch
Thursday, Oct 30, 2014
Quincy, IL News - QuincyJournal.com
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eaglebeaky - Mid-America Port Authority pledged $1.3 million from Illinois - Quincy, IL News - QuincyJournal.com
What the heck are you talking about, XBC? (To be honest with you, I didn't even realize that your previous comment was directed towards me.) What group is it that you seem to think I am "trying to lump Rauner into"? That's news to me... especially since I'm actually supporting Mr. Rauner this time -- if only because (in my opinion) he is (marginally) the lesser of two evils. (And,…
AYHSMB - Rauner racking up newspaper endorsements - Quincy, IL News - QuincyJournal.com
Calling him a Republican is misleading. Still, better for the State than Quinn.
AYHSMB - Amazon to open facility in Illinois, hire 1,000 - Quincy, IL News - QuincyJournal.com
WC. Got that right.
eaglebeaky - Illinois quarantine for people who touched Ebola patients - Quincy, IL News - QuincyJournal.com
Oh, I see. Point well taken, AYHSMB. Thank you for the clarification. (I guess I'm just hoping that nobody starts throwing that kind of negative stuff around in relation to the Ebola issue. That's probably just wishful thinking on my part... but I'd like to hope that some sense of civility and humanity will win out -- at least while the doctors and nurses lives are at risk.) It's…
AYHSMB - Illinois quarantine for people who touched Ebola patients - Quincy, IL News - QuincyJournal.com
sorry for the late reply, eagle. Just seems as of late we can't do anything sensible without someone being accused of racism.

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Editorials & Opinion

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

9 months ago 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.

http://republicannewswatch.com/wp/?p=13297

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