Haven's Viability Doubted

Haven Healthcare CEO Raymond Termini's "siphoning of cash" from his nursing home chain into personal investments - including $5 million he used to buy a yacht and three apartment buildings in Connecticut - is a ... Full Story
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Good Luck

United States

#1 Dec 6, 2007
Is there anyone who didn't know this? Ray would rather pay himself and destroy the company than pay a vendor. All of Haven's money goes to Ray and his friends that have been promoted to the big names in management, including his girlfriend. Good luck getting out of this one Haven!
Fred

United States

#2 Dec 6, 2007
It just gets worse and worse. Starkowski gets what he's wanted for years.Public destruction of the largest CT. nursing home chain without the state having to pay extra for receivership or doing right by the patients. All was preventable if Gov. Rell and Starkowski cared enough for nursing home residents to require reimbursements for staffing levels and Medicaid pay the bills for Medicaid patients. But its hard to require a private company do what the state won't even do.
Fred

United States

#3 Dec 6, 2007
Gov Rell: Stop "watching" and start doing. Change the system. Fix all CT. nursing homes and guarantee Medicaid will cover the full cost of patients care. Rell needs to stop "siphoning" the money from patients care.
Looking forward to change

AOL

#4 Dec 6, 2007
Ray and his "corporate pyramid" (all of them) need to be replaced by a minimal management staff with a focus on patient care rather than the current and prior focus on profit. Corporate salaries should be utilized for building repairs, supplies, patient care staffing, recreational activities, and quality of life issues for the residents.
No patient care issues were found in any of the buildings in spite of Ray and his corporate staffs gross mismanagement. The front line staff work with no support, limited supplies and understaffing. We rely on each other, working long hours, often using personal funds, and personal time to take care of these people.When Ray and his corporate staff are gone and the appropriate funds (including the salaries of the currently useless corporate positions)are directed back to the buildings we have the skills, the determination,and the heart to make it a true Haven for the elderly.
looking forward to change

AOL

#5 Dec 6, 2007
I would love to see The Courant report on the number of corporate positions in "The Haven Pyramid" and the salaries that support them.
Tom

Plainville, CT

#6 Dec 6, 2007
Did McCormack admit to finding this in a 2005 audit and had nothing to say then but has a long statement judging viability now? Hasn't McCormack been successfully sued for this type of destructive action before?
The department of health says that the care is good and the judge is looking at the finances.....what is it that Blumenthal is doing now....is it headline grabbbing...
Tom

Plainville, CT

#7 Dec 6, 2007
There was wide speculation that John McCormack has had a personal issue with Haven for some time. The information given to the Hartford Courant clearly could have been leaked by him, including the sealed warrant information. Now, as Starkowski was supposed to report to Rell, its all John McCormack. Wasn't he sued successfully recently for trying to do this to other providers?

Gov. Rell, are you willing to look into your own people without the courant reporting it (Lisa)
Seems ODD

Plainville, CT

#8 Dec 6, 2007
The Courant wrote..."Although it was anticipated that Termini would resist submitting to a sworn deposition, Haven attorney Alan Kolod said, "There's nothing to hide." "... Who told the courant that they thought Termini would resist a sworn deposition. HMMM...sounds like JMc. And the FACT that Termini willingly was deposed and delighted to get the truth out, does the courant even consider that maybe he's telling the truth and the State, through the efforts of one auditor and the hartford courant, are out of control. Remember when the freedom of the press was to protect the people from abuses in the government, not permission to destroy private lives...and by the way, not one life, but about 20 thousand employees, residents and all off these peoples families. Congratulations courant...does bin Laden need a PR rag?
rickbee

Milton, MA

#9 Dec 6, 2007
He may be a crook,but he is also way smarter than the investigators. It seems to me that he is just another high flying CEO.
Virginia

AOL

#10 Dec 6, 2007
It's amazing how people look at things....recieve money from Medicaid and Medicare, as well as some private pay...deposit it in the nursing home account...cut a check for yourself...maybe a large bonus ecause you deserve it...deposit into your personal acct....I used my own money to buy a yacht, condo, apartment houses....ooooops, didn't pay the heating bill for the nursing home....what's the problem? What a low life....
Fred from Glastonbury

Glastonbury, CT

#11 Dec 6, 2007
Hey Fred - use a location so people don't mix you up with Fred from Glastonbury...people know who Fred from Glastonbury is!

My comment about this....Haven will be vindicated!!!!!
poster

Cleveland, GA

#12 Dec 6, 2007
Equations and "if".
Eq 1
If x = 1x-5d-b=??
(1x -salary, d-personal debts, b=bankruptsy costs)
Eq 2
B=H+I-d=??
((H=Haven Health, I=Parnet company investments, d=all bussiness debts)
Eq 3
d=?
(d=all debts)
x= the realm of confusion

Sounds like the auditors have their work cut out for them, and good accountants are rare these days?
Electrocuted in CT

United States

#13 Dec 6, 2007
"No serious patient care issues now"
'Now that Termini is under the microscope.' There have been many patient problems including death and amputations, that's serious! Termini is going to prison along with some of his top management.
This writer thinks the pending divorce is a sham, a way to keep half of the stolen funds from seizure. The state and the feds should keep a close eye on these assets and how they are used for a long time.
It loks like Termini has used his roofers ladder to 'climb over the wall into the BIG HOUSE' and that's just where a man of his moral character belongs!
Nursing Home corruption

Bridgeport, CT

#14 Dec 6, 2007
Scimming money from Nursing homes is not a new problem. Many cry poor (especially for-profits) but then pay low wages to workers and embezzle money. The State needs to look at Pilgrim Manor in Plainfield next.
Nursing Home corruption

Bridgeport, CT

#15 Dec 6, 2007
I meant Village Manor.
FAV

East Hartford, CT

#16 Dec 6, 2007
Fred from Glastonbury wrote:
Hey Fred - use a location so people don't mix you up with Fred from Glastonbury...people know who Fred from Glastonbury is!
My comment about this....Haven will be vindicated!!!!!
The same old BS. You're likely one of those star-struck entrepeneurs straight out of one of our prestigious business schools for which the new mantra is "Greed is Good". Nothing like having a corporate structure that allows a CEO to use the assets as his own piggybank. All legal as the Board of Directors said it's OK. Naturally, they are hand picked by management to be like minded. Thanks to our two professed demo?catic senators who voted to revoke post Great Depression secuities laws designed to keep Wall Street at bay. And they've gone right back to milking the system. The Bubble at the turn of this century saw the outrageous feeding at the trough by management, in many cases as they were driving their companies into bankruptcy, their golden parachutes at the ready. Now we have the subprime crisis. No regulation in sight to stop down payment free mortgages or Wall Street's repackaging of them as securities. Now of course our politicoes will come out of the woodwork with their brilliant "bailouts". We pay the bill and Wall Street is saved. Our senators campaign war chests are well endowed with Wall Street money. Recent news shows that financial concerns now lead all other sectors in contributions to the best candidates money can buy. The very best investment these elitists ever made. Letting private interests control these facilities with the current state of our ethics-less entrepreneurs is bound to end up as this sorry mess.
pepperboy

Plainville, CT

#17 Dec 6, 2007
Seems like electrocuted in ct has everything figured out except how to get a life. Former employees are biased. You were probably fired for being a jerk, and yet you keep proving it day after day.
Scott

Killingworth, CT

#18 Dec 6, 2007
Hey Fred in Glastonbury. I hope there's more to the story than what's been reported so far. Which is, CEO takes money for himself under bogus corporations and then Haven can't pay it's bills?? Vindication?? Yeah right!!!! Everyone deserves a fair trial, but I can't wait for his defense.
AudioLoveMagic

Orlando, FL

#19 Dec 6, 2007
Did Termini buy any jewelry with that money?
With money comes entitlement, with jewelry comes embezzelment.
Get it?
Bwahahaha...he's going to jail.
Nick

Meriden, CT

#20 Dec 6, 2007
Something doesn't add up.

First off an audit of a corp this size doesnt get done in a few weeks.

Second and I know most people don't like the idea of this but corporations "lend" money to their executives..even if the corp is losing money at the time..not good for the business but it is common place and not ilegal.

Third how come now there is no problem with patient care..

Alot of this stuff doesnt add up

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