http://www.bbc.co.uk/news/business-13630394



>Disclosure : I am responding to the story you posted only. I have no further knowledge regarding Southern Cross nor Blackstone's investment in them.
>
>Here's how this story reads to me.
>
>A venture capital firm invests in a company who is actively looking for capital. In 3 years they quadruple their investment and sell.
>
>1st question. To whom did they sell in 2007 and why are they not the target of the writer's anger?
>
>During their tenure the VC leads the effort to sell houses and lease them back.
>
>2nd question. Given what we now know about home prices post 2007 doesn't this seem like an excellent and profitable idea?
>
>Following their sale, the economy collapses, the housing market goes into the tank, multiple financial institutions are bailed out, and Southern Cross continues in business for 4 more years until they finally need a bailout themselves.
>
>3rd question. How is this the fault of the VC who sold it 4 years prior as opposed to the subsequent owners?
>
>Update:
>4th question. How does this story jibe with this?
>Far from selling off Southern Cross's assets, Blackstone inherited a large tranche of leases when it bought the company in 2004 and it is understood that by the time it disposed of the company there were only 20 homes which had been sold and leased back at the instigation of the private equity house.
>http://www.independent.co.uk/life-style/health-and-families/health-news/homes-made-1631bn-for-investors-2292037.html
>
>>Here's a heart warming story of how private enterprise can help make our health care more efficient. None of that sexy House style critical care and surgery stuff. This is the real bones of health care, old people.
>>Nice to see what a little asset stripping can do to help improve the business.
>>
>>http://www.dailymail.co.uk/news/article-1393294/Southern-Cross-Healthcare-destroyed-Stephen-Schwarzmans-private-equity-firm-Blackstone.html
>>
>>>>We could go round and round this.
>>>
>>>Why go round and round? We are so close to agreeing.
>>>
>>>>Waiting times are not acceptable but the only way to bring them down is to throw money at the problem wether private or public.
>>>>I expect if the state spent the amount of money you spend in the USA waiting times would come down.
>>>
>>>Minor Correction : The only way for a centrally controlled system to bring down waiting times is more money. See we agree. ;)
>>>
>>>Of course there are other ways to lower wait times, like say, opening up the system to private participation, removing onerous regulation and freeing the markets. There are no shortage of lasik and plastic surgery providers in the USA. They are 2 of the least regulated parts of the health care industry here. Coincidence? Same is true of medical devices. For now...
>>>
>>>>>So it's perfectly acceptable to be waiting 18+ weeks for treatment as long as that's apx the same as others who came before you?
>>>>>
>>>>>This in a nutshell is the difference between myself and those in favor of a centrally planned system. 18 days is an unaccaptable wait for me yet 18 weeks is considered "stable" across the pond.
>>>>>
>>>>>Preemptive answer to the inevitible question : Yes I and many family members have had numerous treatments from the minor to the serious for which we have not waited even 18 days for treatment.
>>>>>
>>>>>>From the article
>>>>>>
>>>>>>A Department of Health spokesperson said: 'Waiting times go up and they go down, but this data shows that waiting times remain broadly stable.'
>>>>>>
>>>>>>>>>Government run health care works in other countries. Why are we supposed to be different?
>>>>>>>>>
>>>>>>>>>Actually, government run health care does not work in the rest of the world. It is health care rationing. Andy knows - he lived with it most of his life. When he was in agony with a knee cap that had slipped, if he had not had private health insurance, he would have been put on a waiting list and would have had to spend 1 - 2 years in great pain waiting for his surgery because it was not life-threatening.
>>>>>>>>>
>>>>>>>>>And I agree. Why should we be any different?
>>>>>>>>
>>>>>>>>Waiting times are nowhere near that now.
>>>>>>>
>>>>>>>I honestly do not know how long the waits were back whenever, what I do know is that they are rising. Again.
>>>>>>>http://pulsetoday.co.uk/story.asp?sectioncode=35&storycode=4129557&c=2
>>>>>>>
>>>>>>>>You are probably looking back to the period of the last Tory government when they where only too happy to underinvest in public services so the rich could reap the economic miracle of Thatcherism and North Sea Oil.
>>>>>>>>
>>>>>>>>BTW I hope ex pat Andy has repaid the cost of any training he may have had in the UK at public expense. As he is no longer paying tax here he must owe quite a lot..