Norbu
03-02-2019, 03:21 PM
My doctor advises me that if I have a trauma or a possible heart attack or stroke to not go to urgent care because the docs there won't know any more about taking care of me than an ambulance medic. She said for trauma go Memorial because they always have a trauma surgeon on the premises and for a heart attack go to Sutter where they will have a cardiologist present.
As far as the sale of the hospital goes, there actually will not be any rent payments, the buyer gets to keep the money to do maintenance, yet the cost of deferred maintenance was deducted from the sales price and that is double dipping as far as I can see. Additionally, the cost of demolition was also deducted, yet AAMG is using the buildings.
I fully expect AAMG to wait the allowable 6 years before shelling out the 4 million to buy the property since it's not costing anything to use it, using the hospital is making money, and they are still earning income on the 4 million, so why be in a rush to pay it out?
I also expect that if AAMG finds that the urgent care facility is earning less than the expected discount on the purchase price they will promptly shut it down, and I expect that to happen.
Also, after AAMG does pay the 4 million and it's used to pay off some debt the remaining debt is no longer in the form of non-taxable bonds. Therefore a higher interest rate has to be offered on those bonds in order to make them attractive to investors. In a few years paying the higher interest rate to investors will offset having received the 4 million. So in any case we, and our heirs and their heirs will be paying the property tax for the failed hospital far into the future, so I'm voting no on giving away that primo piece of property and getting absolutely no benefit in return.
That's the way I see things. It breaks my heart to disagree with you Dan after you and your wife have put so much time, effort and money into keeping the hospital going. I've always backed your decisions and even though it's not worked out it has saved lives along the way, so it was worth while. I feel a tremendous amount of gratitude to you both. Thank you so much!
As far as the sale of the hospital goes, there actually will not be any rent payments, the buyer gets to keep the money to do maintenance, yet the cost of deferred maintenance was deducted from the sales price and that is double dipping as far as I can see. Additionally, the cost of demolition was also deducted, yet AAMG is using the buildings.
I fully expect AAMG to wait the allowable 6 years before shelling out the 4 million to buy the property since it's not costing anything to use it, using the hospital is making money, and they are still earning income on the 4 million, so why be in a rush to pay it out?
I also expect that if AAMG finds that the urgent care facility is earning less than the expected discount on the purchase price they will promptly shut it down, and I expect that to happen.
Also, after AAMG does pay the 4 million and it's used to pay off some debt the remaining debt is no longer in the form of non-taxable bonds. Therefore a higher interest rate has to be offered on those bonds in order to make them attractive to investors. In a few years paying the higher interest rate to investors will offset having received the 4 million. So in any case we, and our heirs and their heirs will be paying the property tax for the failed hospital far into the future, so I'm voting no on giving away that primo piece of property and getting absolutely no benefit in return.
That's the way I see things. It breaks my heart to disagree with you Dan after you and your wife have put so much time, effort and money into keeping the hospital going. I've always backed your decisions and even though it's not worked out it has saved lives along the way, so it was worth while. I feel a tremendous amount of gratitude to you both. Thank you so much!