Quote:
Originally Posted by Honus
Right. They hit their projection. What's the problem?
That's a big ol' loan they got. They must have put on quite a dog-and-pony show.
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.....or made quite a campaign contribution?
You know, I audited a for profit subsidiary of a local hospital some years ago, when the CW then was for hospitals to buy up local GP and internist practices. So, in the first two years, they blew throught about 2.5 milion. I wondered about a "going concern" problem and if I would need to disclose something in the audited statements. I was relieved to find the business plan projected cumulative losses of up to 5 million dollars in the first 5 years.
I was more relieved in year 3 when a retired corp. executive was named Chairman of the parent NP board and pulled the plug on it.
I hate stupidity and waste, whatever the cause.
In the instant example, both were likely present...in spades.
(my $.02)