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All That And A Tax Cut, Too
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How capitalist are you? Conversely, are you strongly in favor of redistributing wealth? Either way, check out this story about the former CEO of Genesis HealthCare, one of the largest nursing home chains in America, getting a $5.2 million "retention payment" bonus in October, then retiring and, despite having to pay some of that money back, still getting an immediate $650,000 bonus and $300,000 consulting contract, all despite the business not doing so well and with 14,352 residents contracting COVID-19 and 2,812 dying as of December 20th. The chain had PPE shortages right up to the time this guy's huge bonus was approved. And this is all happening while the company is telling the SEC and investors that it might go under due to the financial squeeze of the pandemic. Let's go back to that $5.2 MILLION bonus: Should ANYONE get paid that big a "retention payment," let alone one who is presiding over a company that says it's on the brink of going under? How many salaries, how many vendor bills could be paid with that money? (Washington Post)
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