By Jeffery DoLittle contributor to EOC.
Citrus County, FL. The TRIMS (Truth In Millage-the notice telling you what your taxes are going to be on Nov. 1st) were mailed out Friday, Aug 15, 2014, If you haven’t gotten them in the mail yet, you can go to the Citrus County Property Appraiser’s website and download them in your home. Grab hold of the arms of your chair, taxes will be going up if this budget goes through, as is, and the Taxing Authority raising it’s millage rate to an unbelievable level is the HOSPITAL BOARD. The uninformed electorate needs to understand that HCA is Rick Scott’s Company HCA, the man that spent 73 million of his own money in the first election to become Florida’s Governor anticipates spending more for this upcoming election and wants a return on his investment by taking over all the hospitals in Citrus County along with any others he can get his hands on in the state. Could this possible be why there is such a dramatic increase in the Hospital Boards Taxes (refer to you TRIM NOTICE) that you recently got in the mail? Continue reading for the rest of the story!
The increase is for the Hospital in Inverness, Citrus Memorial, which, by the way, is soon to be privatized and the Appointee of Gov. Rick Scott, Bob Priselac, who had a twenty year career acquiring Hospitals and medical facilities for HCA and the Governor were a major player in this privatization. The same Governor, Rick Scott, when with HCA, resigned and pled the 5th Amendment 75 times to not incriminate himself while HCA ended up paying 1.7 billion to the Federal Government for it’s wrong doing! The 73 million dollars Rick Scott spent of his personal, ill-begotten gains, to win the Florida Governorship in 2010 would seem to be well worth it through HCA connection which announced In July 2013, HCA signed a definitive agreement with IASIS to acquire three Florida hospitals (which two being Seven Rivers and Citrus Memorial). HCA posted $1.6 billion in profit in 2012 and $33 billion in revenue. EBITDA in the past 12 months was roughly $6.6 billion. Among the secrets to HCA’s success: It figured out how to get more revenue from private insurance companies, patients and Medicare by billing much more aggressively for its services than ever before; it found ways to reduce emergency room overcrowding and expenses; and it experimented with new ways to reduce the cost of its medical staff, a move that sometimes led to conflicts with doctors and nurses over concerns about patient care. These are the people who are taking over our Citrus County Hospitals and you can be sure that this increase in the HOSPITAL BOARD millage rates have their signature all over it. All of these companies will rake in multiples of billions because of the Affordable Healthcare Law while the middle class and small businesses suffer because of the greed of this cable of Corporate Monoliths in the HealthCare Industry. How many more examples does it take before the public wakes up to realize that privatization is not the answer, has never been the answer to problems of the past and never will be the answer. When privatization occurs the result is that you have given the keys to the safe to the people who were robbing you to begin with.
This privatization will include Seven Rivers Regional Medical Center, TAMPA BAY GENERAL was in the running for this privatization, in fact, it was the lead candidate, then HCA stepped in.
The stories below refer to the Scott’s dealing while he was the CEO of HCA, he subsequently put his stocks into his wife’s name!
Florida Republican Governor Rick Scott better hope his wife doesn’t leave him any time soon.
Scott transferred 62 million dollars in Solantic stock (a chain of healthcare clinics) to a revocable trust in his wife’s name after he got elected. Now he’s passing a bill that will hugely benefit Solantic. He calls this privatization, which might ring a bell for you since Republicans have been singing its high praises ever since they discovered government contracts (i.e., socialized profits for their private companies, aka, welfare for the wealthy). Basically, your tax dollars will soon be going directly to Rick Scott’s wife’s bank account if his bill passes.
Perhaps in Republican circles, transferring your stock options into your wife’s name is distancing yourself from your personal profit. Sure, Republicans hate to empower a woman like that (hence, the trust is “revocable”), but it’s either give the stocks to her or heaven forbid, sell them just before you get into office and finally get to pass laws to enrich yourself, aka, the “Medicaid Reform Law.”
It sounds so Foxian, so “competition-oriented” – so “clean out government waste and fraudish.” Scott’s “Medicaid Reform” would give private health care companies unprecedented control over the government health care program for the poor, expanding on a pilot program started in Florida in 2005.
Mother Jones reported that the privatization pilot program was a total bust and caused huge delays in healthcare for patients:
According to a 2008 study by the Georgetown Center for Children and Families, participants experienced huge delays and restricted access to necessary treatments, says the center’s co-executive director, Joan Alker. Patients found the new system bureaucratic and confusing—and HMOs were prone to dropping out without warning. Dr. Aaron Elkin, president of the Broward County Medical Association, recently declared the program to be a failure. And Medicaid patients don’t have much better reviews. “It has taken four months to get a biopsy on a throat cancer due to the impediments placed by the HMOs for authorizations,” one participant in the program told NPR.
Gosh, that rings a bell, doesn’t it? These are the sorts of problems the Republicans claimed government healthcare would cause. Working with the SwiftBoat folks, Scott created the astroturf movement “Conservatives for Patient’s Rights” to oppose the Democrats’ healthcare reform act on the basis that it would be a “takeover” by “Washington bureaucrats” who would force patients to “stand in line” for care (also known as waiting 4 months for a throat biopsy).
And yet, these exact problems were caused by privatization. Perhaps it would be fair for us to call Scott’s privatization bill “Death Panels for Profit.”
Scott’s company, Solantic, does not take Medicaid, but they do business with private Medicaid HMOs. There are 32 Solantic clinics around the state of Florida, and they are growing rapidly – looking to do an IPO any day now. According to Scott’s female partner and former TV anchor, Solantic is the fourth largest clinic in the country.
In the 1990′s, Scott headed Columbia/HCA Healthcare, the largest for-profit hospital in America. Under Scott’s leadership, Columbia/HCA committed major Medicare fraud. They had to pay the government 2 billion dollars in settlement fees and interest, which made it the largest fraud case in history. The company was found guilty of systematically over-billing the taxpayer for services. Scott was forced to resign just before the judgment came down and Dr. Thomas Frist Jr., brother of U.S. Sen. Bill Frist, R-Tenn., was brought in to replace him as chairman and CEO. Feel better yet?
Forbes reported that HCA “increased Medicare billings by exaggerating the seriousness of the illnesses they were treating. It also granted doctors partnerships in company hospitals as a kickback for the doctors referring patients to HCA. In addition, it gave doctors ‘loans’ that were never expected to be paid back, free rent, free office furniture, and free drugs from hospital pharmacies.”
Rick’s stewardship in one of the FBI’s highest priority white-collar crimes brought fraud not just to Florida, but also Texas, Georgia and Tennessee, in case you were feeling left out. This is what Rick Scott calls the competitive “free market.” And they wonder why we need regulators and we wonder why they don’t want them. Not to worry, though, Scott was paid $9.88 million in a settlement for being forced to resign as CEO, and he also left owning 10 million shares of stock worth over $350 million.
When Republicans tell you that private hospitals will be more “cost efficient,” they meant they are more cost efficient for the private company that has a deal with the government to get their hands on your tax dollars while denying services to the needy that you pay for. When they tell you these CEOs deserve their pay because they are “job creators,” it’s fair to ask just who paid for those jobs. When Republicans tout themselves as pro-business and claim that running a state or the country is like being the CEO, it’s probably best to look into their background and see exactly what they did with that company they ran. If they, like Scott, ran a company that admitted to committing fourteen felonies, you might want to think twice before turning your state’s coffers over to him.
A few years after the major fraud debacle, Scott started Solantic, a chain of urgent cares that quickly became one stop shopping for healthcare, sort of like the Wal-Mart of healthcare (an irony here is that urgent care clinics have grown as people are not able to take time off of work to see their regular doctors). Then Scott ran for governor, won, and refused to sell off his stock options or exclude his company from profiting from his legislation. Cue the stock transfer to his wife.
By the way, Solantic is currently under investigation by U.S. Department of Health and Human Services for alleged Medicare fraud.
Do you want to turn your healthcare decisions over to a man who already had to step down for Medicare fraud once? I mean, do you think he has your best interests at heart?
Do you think anyone who stands to make a profit from not giving you services and who has already proven that profit rules his ethics and morals will suddenly want to do the right thing? Does it scare you when I say that Scott’s bill puts a “hard cap” on what these “private companies” can spend on their Medicaid patients? In other words, it’s not going to be about what you need anymore, but about what they can afford to give you within their profit model.
Leave it to a Republican governor to put a cherry on the insult. Scott signed an executive order ordering drug tests for state employees. And wouldn’t you know it, drug tests are one of the more popular services provided by Solantic. He’s also suggesting they do the same for welfare recipients.
“Floridians deserve to know that those in public service, whose salaries are paid with taxpayer dollars, are part of a drug-free workplace,” Scott said in a statement. “Just as it is appropriate to screen those seeking taxpayer assistance, it is also appropriate to screen government employees.”
Big daddy is in the house, and he’s cleaning up government fraud and waste by those awful, horrible, lazy, entitled state workers and the welfare bums won’t get away with it anymore! In other words, keep your eye over here, on the state workers and the welfare recipients while Scott dips his hands into the wide-open cookie jar of your tax dollars and just takes what he wants. After Enron, our non-activisty supreme court ruled that enriching oneself at the taxpayers cost is not illegal. So technically, Scott’s theft of the taxpayers to enrich himself is not prosecutable this time around.
No wonder he ran for office.
Florida does, however, have an ethics code that supposedly prevents them using their office for private gain. Scott spokespeople led voters to believe that Scott would recuse himself regulatory decisions that might impact his single largest financial holding, Solantic, since he refused to put the stocks in a blind trust.
Speaking of money, those drug tests will cost 2-3 million a year for taxpayers, plus the costs of the inevitable litigation. But it’s worth it, Scott’s administration assures us, for the peace of mind that your tax dollars won’t be paying for some drug addict to have a job.
Again, no need to concern yourself with Scott’s fortunes, as he owns a stake in S&S Family Entertainment as well as having been tied to Fox News via WebMD and Fit TV. Color yourself shocked. You might also like to know that Solantic has been subjected to numerous employment discrimination suits, stemming from an alleged Scott policy of not hiring overweight or elderly people. Also, Scott was once business partners with George W Bush.
And we wonder why things aren’t going well in Florida….
It seems that nosing into private healthcare decisions and playing hall-monitor to state employees is what Republicans do best. Of course, they do this best when they’re using your tax dollars to enrich their cronies and themselves.
If Scott wanted to put his money where his mouth is, he’d issue random drug tests for his doctors and nurses at Solantic, as well as monthly independent audits of the books. We can’t be too careful, after all. We have a known fraudster at the helm in Florida and he’s turning taxpayer money over to his private company. Kinda seems like we better keep an eye on him.
And he’d better keep an eye on his wife.
It may not seem like it now, but the dealings of HCA Healthcare, the largest U.S. hospital operator, could be one of the biggest political stories of August. In an unusual happenstance, the company’s shares plummeted today after it made two surprising disclosures: First, the cardiology practices at its hospitals were under investigation by the Justice Department; and second, The New York Times was about to publish an investigative piece on the firm’s treatment of uninsured patients (or so it assumes). Why should anyone care about the rumored misdeeds of a Tennessee-based health care company? Here are three big reasons.
HCA’s connections Turns out, HCA’s biggest shareholder is Bain Capital LLC, the company once led and co-founded by Mitt Romney. And this isn’t some tiny asset: HCA own 160 hospitals and 110 surgery centers. As of April, Bain held 20 percent of HCA’s outstanding shares, an amount Bloomberg’s Alex Nussbaum says is worth $2.2 billion, and just last year, Bain and KKR & Co. took the company public in an IPO that raised $3.79 billion.
The Corporation: MANAGEMENT
IS COLUMBIA/HCA’S CEO ON THE CRITICAL LIST?
Rick Scott may have made too many enemies–including some on his own board
It was only a year and a half ago that Dr. Thomas F. Frist Jr. and Richard L. Scott flouted decorum by exchanging high fives in the dining room of Nashville’s exclusive Belle Meade Country Club. But the camaraderie is long gone between Tommy Frist, the vice-chairman and largest individual stockholder of Columbia/HCA Healthcare Corp., and Rick Scott, the chairman and chief executive of the embattled hospital colossus. "I wouldn’t say that Tommy is angry," says one confidant, choosing his words carefully. "He’s focused. Very focused."
With revelations about the widening scope of the government’s criminal investigation of Columbia appearing almost daily, a behind-the-scenes campaign to rein in Scott–or perhaps remove him altogether–seems to be coalescing around Frist, who at 58 is the very model of the patrician physician. The 24% drop in the company’s stock since February is both a symptom and a cause of the growing disillusionment with Scott among large investors. Even Texas billionaire Richard Rainwater, who co-founded Columbia Hospital Corp. with Scott in 1987 and has been his biggest booster ever since, may be wavering in his support.
IN-YOUR-FACE. While Scott’s personal culpability in the unfolding scandal is uncertain and likely to remain so for months, the 44-year-old CEO clearly has become a political liability. Under Scott’s relentlessly aggressive leadership, Columbia has made scores of powerful enemies at every level of government. "To paraphrase Tommy, the basic problem is the in-your-face style of Scott coming home to roost," says a Frist ally.
Since March, when federal agents raided Columbia offices in El Paso and carted out documents by the truckload, Frist has met privately with Scott and urged him to adopt a more statesmanlike stance. Scott listened, but did he hear? Publicly, anyway, the CEO has not conceded that he needs to modify either the substance or style of his approach. "There are certain things beyond your control," Scott told BUSINESS WEEK in a June interview. "But what I like about this industry is that if we do a good job of taking care of patients, things will work out."
Also last month, Rainwater reaffirmed his faith in Scott and Columbia’s prospects in an interview with BUSINESS WEEK. "As far as I’m concerned," said Rainwater, who still owns 9.8 million shares of Columbia stock to Scott’s 9.4 million, "Rick will lead the company forever, or until he wants to step down." But on Monday, July 21, Rainwater suddenly backpedaled from his unconditional embrace of the status quo, saying only that significant developments were imminent.
Almost immediately, reports surfaced that Columbia was talking to Tenet Healthcare Corp. about a merger. Both companies declined to comment on the reports. Tenet, the industry’s second-largest company, is roughly a quarter of Columbia’s size. Its CEO, Jeffrey C. Barbakow, guided the company through its own scandal four years ago when he forged a settlement of massive fraud charges for $380 million. Many in Washington and in the industry believe prosecutors won’t let the next violator off with just a fine, but will seek jail terms.
The rumors gave a lift to Columbia’s battered stock, which had fallen as low as 32 as investors fled. The company’s largest stockholder, FMR Corp.–the parent company of the Fidelity family of mutual funds–has unloaded more than half of its 56 million shares since March, paring its interest to about 4%, from 9%, according to estimates by Alpha Equity Research, a New Hampshire brokerage that tracks Fidelity for institutional investors. "It looks like they have really lost confidence in the company," says David J. O’Leary, president of Alpha. FMR has declined to comment.
Still, the disgruntlement of Frist and other Columbia directors poses the most imminent threat to Scott. Frist, who owns 14.6 million shares, founded Hospital Corporation of America with his father in 1961 and sold it to Columbia in 1994. While few HCA executives remain in Columbia’s senior management ranks, no fewer than five of its ten directors were affiliated first with HCA and are considered likely to back Frist in any showdown with Scott. "These are not the sort of people who will sit quietly in the corner if they think changes are needed," says a former HCA executive.
BUSINESS WEEK has learned that soon after the March raid in El Paso, the board voted to appoint a special three-person committee to conduct an internal investigation into the company’s basic business practices. The panel retained its own outside legal counsel and is expected to report its findings at the next regularly scheduled board meeting on Aug. 14. The committee includes two longtime directors of HCA: Dr. Frank Royal, a Richmond, Va., physician, and Carl Reichardt, the retired chairman of Wells Fargo Bank. The third member is from the Columbia side of the corporate marriage: T. Michael Long, a partner at investment banker Brown Brothers Harriman & Co. A Columbia spokeswoman declined all comment on board matters.
PROBABLE CAUSE. All three members of the special committee declined BUSINESS WEEK’s requests for interviews, as did Frist. However, it seems highly unlikely, given the mounting gravity of the government’s probe, that the panel will present management with a clean bill of health.
On July 16 and 17, a small army of FBI and other federal agents served at least 35 search warrants on Columbia facilities in seven states: Florida, Georgia, North Carolina, Oklahoma, Tennessee, Texas, and Utah. To obtain such warrants, prosecutors first must persuade a federal judge that they have probable cause to believe that a crime has occurred. According to reports in The New York Times, investigators already have found evidence of fraud in Columbia’s Medicare billings and indictments will be handed down in Florida within a few months.
The primary allegations against Columbia appear to center on overbilling. The Times stated that investigators have obtained internal Columbia cost reports and worksheets that contain significantly lower expenses than in reimbursement claims submitted to government agencies. Samuel A. Greco, a senior Columbia financial official, has said that the company has done its best to submit accurate cost reports. Columbia declined to comment further on the investigations to BUSINESS WEEK.
But the federal inquiry into Columbia is not limited to its cost accounting. Investigators are also trying to determine whether unnecessary blood tests have been routinely conducted at certain hospitals. At the same time, both civil and criminal authorities are looking into the many investment partnerships Columbia has formed with physicians affiliated with its hospitals. Meanwhile, at least two states–Alabama and Texas–are conducting their own inquiries into Columbia’s Medicaid billing practices.
However events play out over the next few weeks and months, Richard Rainwater is certain to be in the thick of any attempt to revamp Columbia, if only because he is as close to Tommy Frist as to Rick Scott. Rainwater got to know Frist in the early 1980s, before he met Scott, and for a time owned stock both in HCA and Columbia and served simultaneously on the boards of both companies. "Rainwater kept telling me about Rick Scott and how great he was, and I kept blowing it off," Frist told the authors of the book The For-Profit Healthcare Revolution.
However, by 1993 Frist had decided that he’d be better off joining forces with Scott and asked Rainwater to introduce him. Columbia paid $7.6 billion for HCA in early 1994 and capped a memorable year by shelling out $3.5 billion to acquire a second Nashville-based hospital company, HealthTrust Inc. The HealthTrust acquisition reunited Frist with R. Clayton McWhorter, a former president of HCA. Frist surrendered his chairman’s title to McWhorter and settled into the vice-chairman’s role.
Frist could not have found a more dissimilar successor than Scott, who grew up poor in Missouri, the son of a truck driver. After a stint in the Navy, Scott earned a degree in business administration at the University of Missouri and a law degree at Southern Methodist University. Scott joined a big Dallas law firm, where he specialized in merger-and-acquisition assignments for health-care companies and made partner in 1984. Three years later, he joined with two former executives of a Dallas hospital company to make an unsolicited and unsuccessful offer for HCA.
CRITICAL MASS. Not long afterward, Rainwater came calling with an offer the lawyer found irresistible: Join me in starting a hospital company from scratch. Scott put up $125,000, Rainwater matched him, and Columbia Hospital Corp. was born. The underlying strategy was simple but powerful: to establish the company as the lowest-cost, highest-volume health-care provider in as many cities as possible. In other words, Scott and Rainwater wanted to make Columbia the leading agent of the managed-care revolution that was just beginning to gather momentum in key markets.
Convinced that speed was of the essence, Scott and Rainwater launched the most prolific acquisition binge that health care had ever seen. Columbia reached critical mass in 1993 as Scott pulled off his first megadeal: the $3.2 billion acquisition of Galen Health Care, formerly the hospital arm of Humana Inc. At 18.9%, Columbia’s operating margin for 1993 hugely exceeded the industry average of 13.6% (chart). The company has maintained its superior profitability ever since as the acquisitions of HCA, HealthTrust, and a half-dozen other major companies piled on the volume. In 1996, Columbia reported net income of $1.5 billion on revenues of $20 billion.
Even many of Columbia’s harshest critics concede that Scott is a brilliant entrepreneur. "I think he comes in second only to Bill Gates as the businessman of the decade in that he created the business model par excellence for restructuring health care," says Peter Young, a Florida health-care consultant who has been inveighing against Columbia for years. "My problem is with the propriety of its implementation."
As Columbia grew, Scott invested heavily to create information systems that would enable him to closely monitor the performance of each of the company’s hospitals and clinics. He imposed precise and highly ambitious revenue and profit goals on his nationwide corps of regional and local managers and yet allowed them considerable operating latitude–an approach that, in retrospect, seems obviously fraught with danger. "One of the basic problems is that when your compensation is tied to the profitability of your hospital or your region, it can cloud your judgment," says a former Columbia executive.
Then, too, in its ham-handed attempts to acquire not-for-profit hospitals–or "nontaxpaying" hospitals, as Scott pointedly prefers to call them–Columbia/HCA offended countless public officials all across the land. In Ohio, for example, Attorney General Betty Montgomery was so outraged by what she characterizes as the "peremptory, bullying" tactics that Columbia employed in its failed attempts to acquire Blue Cross/Blue Shield of Ohio and Massillon Community Hospital that she recently took the company’s Ohio chief aside and delivered a blunt threat. Says Montgomery: "I told him that if you want to do business in Ohio, just play it straight from now on. Otherwise, I will fight you in court any time, anywhere."
In the June interview with BUSINESS WEEK, Scott insisted that Columbia had played by the rules in Ohio and everywhere else. He attributed the company’s political problems to effective lobbying by not-for-profit institutions that fear having to compete with Columbia. "There are many places where an entrenched hospital doesn’t want you to come in," Scott said. "These people are smart, and they’re spending significant amounts of money to fight us."
This is undoubtedly the case. But Scott and his lieutenants have fanned the flames by repeatedly attacking the very concept of not-for-profit hospitals, even though they still account for more than 80% of the industry. In late 1994, according to the Washington Post, Scott told the board of a recently acquired hospital that "nontaxpaying hospitals shouldn’t be in business. They’re not good corporate citizens." On the same visit, David T. Vandewater, Columbia’s president, was equally tactless. "The enemy is St. Mary’s," he told the board, referring to a competing not-for-profit. "They’ve got your patients."
During Columbia’s early years, Rainwater proved an effective foil to the headstrong and often impolitic Scott. But as Rainwater shifted his focus to other investments as the company grew, "there was no one [willing] to challenge him, including Tommy Frist," says one insider. Reportedly unwilling to settle for figurehead status, McWhorter resigned as chairman in early 1996, but remains a director. Scott promptly claimed the chairman’s title for himself. While Frist still keeps an office next to Scott’s, it is often unoccupied.
Frist’s allies say that they have no doubt that he will stand and fight if need be. "Tommy has what he built on the line," says one. He also has a pile of Columbia stock worth a cool $175 million less today than before the Federal Bureau of Investigation started raiding Columbia offices earlier this year. However, his allies add, Frist does not aspire to succeed Scott as CEO, except perhaps on an interim basis.
The history of companies that have come under heavy federal investigation suggests that Scott’s days as CEO are numbered. And even Scott’s greatest champion might not be willing to wait much longer.
OK, so there’s something of a connection to Mitt Romney—so what? What’s the risk of HCA being dragged into the headlines in a supposedly forthcoming Times story? For that answer, you’d have to look at HCA’s history.
HCA’s history For years, HCA has attracted government scrutiny of its business practices. After a stellar growth period in the 1970s and 1980s, the firm ran into trouble in the late 1990s for stretching the legal limits of pursuing profits. In 1997, Rick Scott resigned as chairman and CEO and so did his top lieutenant David Vandewater under pressure from the Feds who were investigating into whether HCA "engaged in practices such as fraudulently overstating their expenses to increase their compensation from Medicare, and regularly conducting unnecessary blood tests,"as The New York Times‘ Kurt Eichenwald reported in 1997. But that was just the beginning. In 2003, the Justice Department announced a settlement with HCA in what was the largest health care fraud case in U.S. history: The company coughed up $631 million in civil penalties and damages related to government allegations of Medicare fraud. At the time, the DOJ issued a litany of offenses dating back to the late 1980s, all of which amounted to the recovery of $1.7 billion from HCA. Per a DOJ release from 2003:
"Let this case be a continuing reminder to all that in the fight against health care fraud this office will not be deterred," said Acting Principal Deputy Inspector General Dara Corrigan. “Medicare dollars paid to provide ever more expensive health care services to the country’s taxpayers should never be fraudulently diverted. This is our job and our trust and we take these duties very seriously," Corrigan concluded.
Now that brings us to today. In a statement released on its website, HCA said The Times story probably related to the number of cardiac procedures its hospitals do and how it determines when the procedures are necessary. It also said the newspaper provided it with examples of cases where “individual patients may have had adverse outcomes from the care they received at HCA-affiliated facilities” to which the company noted that its conducted 20 million total visits last year and "we deeply regret any adverse occurrences to even one of our patients."
The timing Now it’s not clear how damning The Times story will be but the fact that a company is under scrutiny from the newspaper and the DOJ, suggests it’s in for a major PR hassle. Making matters worse, it’s happening near the tail end of a presidential campaign in which one of the candidates has a connection, however tangential, to the company. It should be said that Romney says he gave up management control of the company in February 1999. Bain didn’t undertake its $33 billion leveraged buyout of the company until 2006. But that won’t likely stop the Obama campaign or its surrogates from using the story. For one thing, it diverts the discussion away from the economy, and for another, it gets into the sticky issue of when Romney actually left Bain (Though he says he left in 1999, SEC documents listed him as CEO and chairman up until 2002.) Regardless of the merits of a potential attack, its the type of thing that’s low hanging fruit during the campaign season. But you don’t have to take our word for it: Just look at how market analysts are anticipating the story. "My concern is that it gets political legs," Sheryl Skolnick, a CRT Capital Group LLC told Bloomberg. "I think we have to look at it seriously."
Below is an example of the information on your TRIM notice, the actual rate varies between different taxing districts and have seen them as high as 496% increase in the HOSPITAL BOARD millage rate.