11–20 of 143 posts
Earlier quoted context omitted.
The intentions may be good but that's unlikely to happen in our lifetime. What might be a more feasible solution?
Don’t require states to uniformly respect limited liability granted in other states. Allow them to add limits, requirements, etc. let the different states explore the trade off.
And frankly moaning about this used to be right wing conspiracies a few years ago so yey for another pendulum swing...
Private equity didn't. People did. We really need to get rid of limited liability and corporate fictions.
Obviously I’m kidding, and something is rotten
Private equity didn't. People did. We really need to get rid of limited liability and corporate fictions.
The intentions may be good but that's unlikely to happen in our lifetime. What might be a more feasible solution?
All corporate entities require a registration to operate in a state if they have a physical presence.
In this instance, you can also pass a law along the lines of "After setup, all care homes are required to spend 90/95/99% of their income on direct care of the residents or your charter gets revoked." This would prevent the incentives to buy them in the first place.
Yeah, right. My barely mobile 90-year-old parents, one of whom has Parkinson's, are just going to pack up and go. They know perfectly well that they have a captive audience.
Thankfully, my mother died before the acquisition, and my father died last week, only a few months after the acquisition, so I don't have to deal with this any more. But caveat emptor: if you ever go into a retirement home, think about what will happen if they change ownership. Even if it looks great, or even acceptable, now, there is no guarantee that it will still be great, or even acceptable, tomorrow, unless you somehow manage to negotiate such a guarantee. I have no idea what a contract provision like that would even look like. But I am going to be facing this problem myself some day, so I'd love to hear ideas.
My parents ended up being forced by circumstances to move into a retirement home about five years ago. Fortunately, the place turned out to be run by people who mostly cared about their clients and so my parents' lives were basically OK, except that the food sucked (which AFAICT is par for the course at retirement homes). But a few months ago the place was acquired by a different company, which is trying to squeeze o…
https://utswmed.org/medblog/geriatrics-cove-team-makes-house...
Private equity didn't. People did. We really need to get rid of limited liability and corporate fictions.
People created limited liability and private equity. Fiction is not something you get rid off. Its something you live with. It is a permanent side effect of how the over rated Humam Brain works. The brain makes predictions over multiple time horizons. When there are contradictions between these predictions how is the 3 inch chimp brain supposed to handle it while not splitting? Make up a story for the sake of coheren…