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by Naomi Wolf
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This is huge...another reason to crush Occupy which might make this kind of shovelling of profits away from the common treasury illegal: immeasurable wealth hidden offshore by the global elite....while you and I pay taxes.
Heartening and a fair approach for a private entity such as the NCAA to punish Penn State economically for the sex abuse cover-up -- the cover-up was partly motivated no doubt by business considerations in the sports marketplace so it feels right that businesses recoil and hit such institutions in the wallet.
Greg Teetsell shared this: Swiss Banks UBS, Credit Suisse Raided by German, French Authorities over Tax Evasion
I may be missing something obvious, but this is a UK government document that spells out how NHS Financial Trusts are different from NHS trusts. Look at page 6 and pages 13-14. It does seem to be, from a non-accountant’s point of view, as if these financial arrangements allow the entity buying the NHS asset to use its money for other investment purposes unrelated to health care...and then it seems as if it allows the Financial Trusts to leverage a vast amount of value? Is it me or does the accounting methods spelled out ( 'Goodwill', etc) on pages 13-15 seem really odd?
I see from having done a bit of research that plans to monetize the NHS with huge consulting contracts seem long to have been in place -- this seems to echo what our citizen journalist Morna McDermott has found about the monetization of US public schools, with the fast consulting contracts that go along with it. You can see from these internal documents that it appears to be spin that this process makes health care more efficient -- rather, these documents appear to demonstrate that the consulting contracts and monetization for private industry that arise out of this process are paramount considerations, at least in the internal documents.
See this concluding paragraph -- especially that final sentence:
Final thoughts: Once a reconfiguration of NHS organisations has occurred, bearing in mind the considerations noted here, the integration period immediately after completion of the transaction must be managed and monitored robustly. It is during this post-merger timeframe that some of the challenges of managing the new entity will come to light and it is also the period when the new organisation can run into problems, perhaps because something did not happen the way it was planned or something should have happened in hindsight that didn’t. Only close monitoring will enable management to react quickly to any issues that arise. The next two to three years will see increasing numbers of transactions across NHS bodies. We believe NHS boards need to be ready for this and have clear strategies either to exploit opportunities or to respond to any approaches from others. We suggest you need to ask yourselves the following questions:
Are you a ‘buyer’ or a ‘target’?
What is your M&A strategy?
If you are proceeding with a reconfiguration involving your organisation, remember the following key considerations:
:: photo courtesy of acaben, via Creative Commons license ::
Author & political activist Naomi Wolf raises awareness of the pervasive inequities that exist in society and politics. She encourages people to take charge of their lives, voice their concerns and enact change.