To The Editor:
I’ve been following the saga of Victory Memorial in your paper, and the last story of the 150 leads me to write.
As you note, Victory was $90 million in debt and sold at auction for $45 million. Certainly, the party plunking down $45 million wants to see a return on his money. Running the facility at a loss, or “non-profit,” was not a requirement for purchase.
As the union notes, medical reimbursement costs are fixed, and the only place to cuts costs is with personnel. So, where else can they cut? The union claims the prior owner ran into debt through mismanagement and union personnel costs had nothing to do with it. Hard to believe when they note the only place to save is personnel.
The place is falling apart, so money was definitely not spent on the building. The new owner will have to pour money in. It seems the new owner bought a bridge and not a nursing home/hospital.
Al C. Daley
©2008 Community News Group
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