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Most recent 15 results returned for keyword: JP Morgan (Search this on MAP)

Fraser Kinnear : Mr. Indispensable “The cemeteries are full of indispensable men.” — Attributed to several indispensable men Fire Jamie Dimon. There, that got your attention, didn’t it? Seriously, folks, the brouhaha surrounding the upcoming nonbinding shareholder vote to separate the Chairman and Chief Executive Officer roles at J.P. Morgan is getting a bit silly. People are marshaling all sorts of weak, irrelevant, and disingenuous reasons on both sides to argue for and again... 8 minutes ago - Via Google Reader - View - CS Creative : "When you expect things to happen, strangely enough, they do happen." --J. P. Morgan "When you expect things to happen, strangely enough, they do happen." --J. P. Morgan 4 hours ago - Via HootSuite - View - Real Money Insider : The Falling COMEX Gold Stocks - Much has been made about the drop in COMEX gold stocks. COMEX gold stocks... The Falling COMEX Gold Stocks - Much has been made about the drop in COMEX gold stocks. COMEX gold stocks have fallen from 11.1 million ounces in the end of 2012 to just under 8 million ounces today. The bulk of the decline has occurred at the JP Morgan Chase Depository that has http://ow.ly/2x9P4B The Falling COMEX Gold Stocks Much has been made about the drop in COMEX gold stocks. COMEX gold stocks have fallen from 11.1 million ounces in the end of 2012 to just under 8 million ounces today. The bulk of the decline has o... 6 hours ago - Via HootSuite - View - Ken Piaskowski : Watch the video: Gretchen Morgenson on Why Banks Are Still Too Big To Fail Pulitzer Prize-winning New York Times columnist Gretchen Morgenson tells Bill that, five years after the country’s economic near-collapse, banks are still too big to fail, too big to manage, and too big to trust. Stockholders’ reaffirmation of Jamie Dimon as JP Morgan Chase’s chairman and CEO this week -- despite a year of accusations and investigations at the bank -- is further evidence, she says, of an unchecked system that continues to covet profits and eschew accountability, putting our economy and democracy at risk. Morgenson also discusses how behemoth companies like Apple manipulate the system and avail themselves of the biggest tax loopholes money and influence can buy. 6 hours ago - Via Google+ - View - Michael Blue : #Chase Bank #Chase Bank #JP Morgan Chase Bank, A Square Peg in a Round Hole? #JP Morgan Chase Bank, A Square Peg in a Round Hole? What you say? #Chase Bank, history lesson. I am 55 years old, grew up in the Encinitas area (North San Diego Coastal) and started in real estate in 1984. I have worked distressed properties each down cycle since than, 3., 7 hours ago - Via Mobile - View - jack santana :  Thru work I've paid at least 200K in healthcare premiums in my life (based on 600 month avg. over 30...  Thru work I've paid at least 200K in healthcare premiums in my life (based on 600 month avg. over 30+years--this is too much, another illustration of the outrageous cost of Healthcare is the budget for LQ Stores which I personally viewed and operated as acting manager.  Medical benefits, which included family coverage for many, were HALF as much as wages. In other words the State of Wash. was paying 1 dollar for medical benefits for every two dollars of wages for their LQ clerks). I've scarcely used any of these so called benefits, now I'm expected to pay 10's of thousands more in premiums  before I retire under Obeymycare before I get one penny of "care". In addition i'll have to pay 4 or 5k out of pocket expenses  PER YEAR after paying those exorbitant premiums...this is before getting one red cent of health benefits!  As someone familiar with Casino actuarials it is dead to rights obvious that the mandate to purchase must be repealed.  It's like a Casino forcing you to gamble if you stay at their hotel.  these are for-profit insurers. ps: Nation of Change is not a conspiracy rag, it's a Liberal/Progressive paper. pps: what should we do?  Anything but Obeymycare...http://en.wikipedia.org/wiki/Healthcare_in_Taiwan   Nomi Prins is an American author, journalist, and Senior Fellow at Demos.[1] She has worked as a director at Goldman-Sachs and as an analyst at Bear Stearns. Prins is known primarily for her whistleblower book, It Takes a Pillage: Behind the Bonuses, Bailouts, and Backroom Deals from Washington to Wall Street, for her views on the U.S. economy,[2][3] for her published spending figures on federal programs and initiatives related to the 2008 bailout,[4] and for her advocacy for the reinstatement of the Glass–Steagall Act and regulatory reform of the financial industry.[5]     Demos is a United States-based research and policy center founded in 2000 that presents a liberal[1] viewpoint on economic issues. Based on its widely cited work in the media and growing impact on national and state policy,   Real Danger of “Obamacare”: Insurance Company Takeover of Health Care By Nomi Prins Election rhetoric shuns the big picture in favor of the bigger platitude. Now that The Show is over, we are left with the equivalent of a Sunday morning hangover following a binge of promises and lies. We leave the theatre of political spectacle on steroids for the real world of unstable economy, a globally and publicly subsidized financial sector, and increased costs of living on everything from food to education to health-care; outpacing declining median incomes. The average cost for health insurance for a family is $15,745 per year vs. a median income of $50,502, or about half post-tax take-home pay. “Obamacare” is the name commonly used for the Patient Protection and Affordable Care Act (PPACA) of 2010. The very moniker is indicative of how name-and-image-centric our world has become; Medicare was never called “Johnsoncare” when President Johnson signed it into law in 1965 and Johnson was not exactly a man of small-personality. At any rate, Obamacare or the PPACA ranks as one of the most misrepresented issues from the campaign, by both sides of the ever-slimming aisle. The Tea-Party Conservative types get it embarrassingly wrong when they call it a “government takeover of health care.” Likewise, Progressive Obama-supporters are deluded in accepting it as the most sweeping healthcare reform since Medicare. (Side note: I wish the word ‘sweeping’ could be retired from politics until it actually means -sweeping.) Here’s why. The PPACA does nothing to restructure the health insurance industry, anymore than the Dodd-Frank Act restructures the banking industry. This means everything else it attempts to do, positive or negative, will be vastly overshadowed by an industry accelerating to morph itself into a acquisition machine in order to circumvent anything that even smells like a restriction, including laws that exist and ones to come. How? By doing the same thing energy and telecom companies did after they were deregulated in 1996, and that banks did after they were summarily deregulated (after moving that way for decades) in 1999. They are merging, consolidating, eliminating competitors, and controlling their domain. They are manufacturing power. Investment bankers are roaming the world to exploit this hot new opportunity. That’s one reason insurance companies don’t even call themselves that anymore. Now, they are ‘managed health care’ companies. Call yourself a managed health care company, and you can buy everything from other insurance companies to hospitals to clinics to doctors. The more consolidation, the more fees bankers rake in, and the more premiums and medical reimbursements and health care procedures, each company can control. The result of 1996 energy deregulation was a glut of crime-spawned bankruptcies like Enron. Likewise WorldCom led a pack of telecom degenerates in the production of tens of billions of dollars worth of accounting fraud. The final repeal of Glass-Steagall ignited a merge-fest of investment and commercial banks, their linkages ensuring that taxpayers, whose deposits have been protected since the New Deal, provide a safety-net upon which they can mint toxic assets loosely based on over-leveraged home mortgages, and engage in risky, speculative activity; big banks don’t go bankrupt when they fabricate values or lose big on stupid bets, they get federally subsidized in all sorts of ways. You know who else is similarly too big to fail? The insurance industry. UnitedHealth Group, the nation’s largest health insurer covers 50% of the insurable population in over 30 states. Blue Cross-Blue Shield, covers 100 million people through a constellation of 38 sub-companies. They, and other insurance companies are growing in breadth. When companies consolidate, the result is less transparency, less competition, and more possibility for fraud and shady behavior. Every. Single. Time. Obamacare and Accounting Fraud By January 2014, the PPACA will require insurance companies to list their prices on competitive exchanges. In Obama-theory, this is supposed to reduce premiums via competition. But what if, say, only three companies control nearly all of the premiums? Consider the fact that it costs the same $3 to extract your money from a Chase, Bank of America or Citigroup ATM (if you don’t get it directly from the firm you bank at.) They constitute a monopoly that defies anti-trust inspection (thank you, Department of Justice.) What incentive would any of them have to charge less? None. That’s why they don’t. Managed Health Care companies don’t just administer private, but government health insurance policies as well. The http://www.healthcare.gov website says that under the PPACA, the life of the Medicare Trust Fund will be extended to 2024 as a result of reducing waste, fraud, abuse, and slowing cost growth. President Obama promised to reduce Medicare fraud 50% by 2012 according to the site – but if he did, he forgot to mention it during the campaign period.  To supposedly combat price hikes, the PPACA calls for a new Rate Review program, wherein insurance companies must justify premium hikes of more than 10% to a state or federal review program. Given that banks aren’t supposed to hold more than 10% of the nation’s deposits in any one institution, and three do, this isn’t a comforting constraint. While it is positive that the PPACA requires coverage of people with pre-existing conditions and prohibits lifetime caps, it can’t control what people pay for insurance, because it doesn’t limit actual premiums, which have risen 13% on average since the Act was passed. The medical cost ratio limitation the PPACA instills; that 80% of premiums must be used for medical care in the case of individuals and small groups, and 85% in the case of large groups) to supposedly ensure companies operate on a more efficient premium in vs. premium out basis, is a joke. Its punch line is accounting manipulation.  Call everything a medical cost; even buying another company, and the ratio is meaningless. WellPoint got the Joke WellPoint got that joke immediately. The largest for-profit “managed health care” company in the Blue Cross and Blue Shield Association, it began trading publicly on December 1, 2004. Depending on the state, it operates under Blue Cross and Blue Shield, Blue Cross or Anthem.  After the PPACA was passed, in March 2010, WellPoint allegedly reclassified certain administrative costs as medical care costs in order to meet the law’s new medical loss ratio requirements (which requires insurers spend at least 80% or 85% of premiums on health care services, depending on the type of plan, individual or group respectively.) A month earlier, WellPoint announced its Anthem Blue Cross unit would raise insurance rates for some individual policies in California up to 39%. Federal and California regulators are still investigating this, but the premium hikes remained. WellPoint is also one of Wall Street’s favorite “managed health care” companies; cause it keeps getting bigger through acquisitions that pay hefty fees to the bankers involved. On October 23rd, WellPoint got approval from Amerigroup’s shareholders to acquire Amerigroup, a Medicaid-focused health insurer, in a $4.9 billion cash deal. The deal makes WellPoint the nation’s largest Medicaid insurer, and provides it greater access to Medicaid patients who also qualify for Medicare. It was the largest cash deal ever, and the largest premium paid for a company in the managed health care realm. As a result, Goldman Sachs (who advised Amerigroup) and Credit Suisse (who advised WellPoint) retained their top positions in the global healthcare deal advisory league table. The value of Amerigroup, as a company, dropped 34% within two weeks of that agreement, in stark shades of what happened when Bank of America took over Merrill Lynch in the fall of 2008. This summer, Amerigroup and Goldman Sachs faced a shareholder lawsuit filed by the city of Monroe Employees Retirement System and Louisiana Municipal Police Employees Retirement System. It alleged that Goldman advised Amerigroup to accept WellPoint’s offer quickly, rather than seek other bids, because the bank had structured a complex, and fee-heavy derivatives transaction on the back of the deal. The insurers resolved the suit by tweaking the deal parameters. All parties denied ‘any wrongdoing.’ But where there’s smoke in complex derivatives land, there is fire. Other Mergers After the Supreme Court upheld the PPACA, a spate of mergers rippled through the managed health care realm, to ostensibly cope with smaller profit margins and  ‘compliance costs.’  But really, it’s because each firm wants to corner as much as possible of the market, in as many states as it can, to garner more premiums and control more disbursements and prices at the upcoming insurance ‘exchanges.’ In late August, the third largest insurance company in the US, Aetna announced it was buying Coventry Health Care for $5.7 billion. Coventry provides Medicare and Medicaid services, thus the takeover expands Aetna’s Medicare and Medicaid business. Being part of Aetna enables Coventry to grab more consumers on more state-run health insurance exchanges, reducing competition in the process. The Department of Justice is examining anti-trust issues surrounding the deal, but it’s still expected to close in mid-2013. On October 17th, UnitedHealth Group issued $2.5 billion of bonds as part of its $4.9 billion acquisition of Brazil’s Amil Participacoes. Bank of America Merrill Lynch, Goldman Sachs, J.P. Morgan Chase & Co., Morgan Stanley, UBS and Wells Fargo Securities were lead underwriters on the deal. They are not buying international companies in order to increase accounting transparency. Like other multinationals, they are doing so to move profits around and circumvent restrictions and tax laws. They are using cash, or raising extra debt, to do so, rather than to reduce premiums or increase disbursements to medical professionals. And if you’re keeping score – billion of dollars are flowing from insurance companies – NOT to reduce premiums to patients and NOT to reimburse doctors and NOT to enhance the quality of care, but to simply expand nationally and globally. Meanwhile, their CEOs are doing quite well from all that non-health care related movement. Total compensation for the bulk of health care company CEOs rose by 14.7% in 2011 by 14.7%, or $11.1 million, to $87 million. Cigna’s CEO David Cordani made $19.1 million.UnitedHealth Group's CEO, Stephen J. Hemsley bagged $49 million in salary, stock options, and other compensation last year. The highest-paid CEO made 94 times the average compensation level of primary care physicians. And none of them had to pick up a single scalpel in the process. Doctors as profit centers Not just patients, but physicians have been bled steadily from the current state of insurance company controlled health care through diminishing insurance reimbursements, electronic medical records mandates whereby they spend as much time complying with Kafkaesque controls over their decisions on performing surgeries and providing care, and debt. New doctors are graduating with an average of $250,000 in debt, which, combined with diminishing disbursement and soaring costs, will keep many, underwater. Forever. According to Dr. Michael H. Heggeness, President of the North American Spine Society, a group of 6500 global spinal and orthopedic surgeons (at which I delivered a speech last month), “The last people, that most of the population feels sorry for are doctors, yet they are in an economic crisis of their own. In 2002, 80% were in private practice, now 70% are in hospitals because they can’t afford to make a private practice work.” Meanwhile the more hospitals are viewed as profit centers, the more their Chairmen will cut costs to maximize returns, and not care quality. They will seeks ways to sell underperforming assets, programs or services and reduce the number of nonessential employees, burdening those that remain. No doubt the private equity community will be getting more into this game, as insurance companies buy more hospitals, doctors, clinics, and perhaps drug companies, or vice versa, and ‘restructuring’ accelerates. And if insurance companies can manage doctors directly, they can control not just costs, but treatment – our treatment. It’s not an imaginary government takeover anyone should fear; but a very real, here-and-now insurance company takeover, to which no one in Washington is paying attention. This article was published at NationofChange at: http://www.nationofchange.org/real-danger-obamacare-insurance-company-takeover-health-care-1352648027. All rights are reserved. ps: feel free to forward this in toto to anyone who isn't on my 'Friends" list. i never can keep track of who i'm sending this too. Healthcare in Taiwan - Wikipedia, the free encyclopedia Health care reform [edit]. Taiwan started its health reform in the 1980s after experiencing two decades of economic growth. In 1987, the government did away with the martial law which mobilized the governmental departments. The government set up a planning commission and looked abroad to study ... 8 hours ago - Via Google+ - View - Sportsophy : Brad Delong weighs in on the great debate between the Washington Super Whale that is Ben Bernanke and... Brad Delong weighs in on the great debate between the Washington Super Whale that is Ben Bernanke and his Hedge Fund Counterparts 10 hours ago - Via Google+ - View - Cara Wick : 11 hours ago - Via Google+ - View - Diversity Best Practices : Missed this week's Diversity in the News? Read it now. Are your ERGs relevant? Which countries are most... Missed this week's Diversity in the News? Read it now. Are your ERGs relevant? Which countries are most diverse? Why Boomers are missing the mark with Gen Y and more. http://ow.ly/lmBom Diversity in the NewsUntitled Document In her three years at JP Morgan Chase, Patricia David has transformed the company's approach to employee resource groups. She will share key insights on how companies can revamp their own ERGs during her opening keynote at the Network and Affinity Leadership Congress on June 5 in New York City. 11 hours ago - Via HootSuite - View - Philippe Abeille : JPMorgan wins contract from Russian government to boost its credit rating — RT Business Beating out a number of other investment banks, JP Morgan will consult Russia in its effort to boost the country’s sovereign credit ratings. 1 day ago - Via Google+ - View - Carol Lawson : 1 day ago - Via Google+ - View - Icom : Cool Blue (designed and built by Simon Cory of Cory Yachts Kent) prepping for her delivery trip (ETD ... Cool Blue (designed and built by Simon Cory of Cory Yachts Kent) prepping for her delivery trip (ETD 10:30) to Cowes for entry in the J.P Morgan Asset Management Round the Island Race on the 1st June & Aberdeen Asset Management Cowes Week 3rd – 10th August. Nice bit of branding! 1 day ago - Via Google+ - View - Breaking London News : Federal Reserve risks boom and bust as QE dilemma presses • Is quantitative easing about to be pulled? • FirstGroup comeback not impossible • Standard Chartered share sell-off • JP Morgan's governance problem 1 day ago - Via dlvr.it - View - Mosaic : Great read, The Future of Finance (Is the Future of Energy) by Billy Parish on the new Medium blogging... Great read, The Future of Finance (Is the Future of Energy) by Billy Parish on the new Medium blogging platform.  "Each dot in the image above represents one of the 823 people who have so far invested in solar power...They’re enabling a new energy revolution...By the simple act of investing, they’re helping to secure a better future for our kids, our communities, and the planet."  SHARE this if you believe that anyone can become a clean energy advocate. The Future of Finance (Is the Future of Energy) The first person whose home blazed with electric light was J.P Morgan. The financier also owned the first business lit with incandescent bul… 1 day ago - Via Google+ - View - Darren Button : Don't forget that next Saturday is the Round the Island Yacht Race.  Maybe a chance for some sailing ... Don't forget that next Saturday is the Round the Island Yacht Race.  Maybe a chance for some sailing shots before our meet up on the Sunday! J.P. Morgan Asset Management Round the Island Race - The course The annual J.P. Morgan Asset Management Round the Island Race, organised by the Island Sailing Club, is a one-day yacht race around the Isle of Wight, an island situated off the south coast of England. The race regularly attracts over 1,800 boats and around 16,000 sailors, making it one of the largest yacht races in the world and the fourth largest participation sporting event in the UK after the London Marathon and the Great Nor... 1 day ago - Via Community - View -