HCA execs in big options transactions

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  1. This is a discussion on HCA execs in big options transactions in Nursing News, part of General Nursing ... hca execs in big options transactions four hospital company big wigs exercise options and add a...

    by Jan 13, '09
    hca execs in big options transactions

    four hospital company big wigs exercise options and add a healthy chunk of change to their net worth

    nashvillepost.com
    by walker duncan





    12-19-2008 6:43 am —

    perusing sec filings late yesterday, nashvillepost.com discovered a number of large transactions that have boosted the net worth of a cadre of upper-echelon hca executives.

    leading off the filings was western group president samuel hazen, who exercised 28,123 options at $12.75, then paid for that transaction by giving up 14,151 shares at $55.86. the move left hazen with a paper gain of $432,000.

    moving up the line, senior vice president vic campbell exercised options on 55,215 shares before forfeiting 27,033 of them. in the process, campbell generated a gain of a little more than $800,000.


    cfo milton johnson exercised his options to buy 87,180 shares and offloaded about 44,400 of them at the $55.86 mark. his net worth gain: $1.4 million.

    but truly leading the pack was general counsel robert waterman, who acquired $1.78 million worth of shares via options before forfaiting 70,920 shares at $55.86 for $3.96 million. waterman's paper profit: $2.2 million.

    all told, the group boosted its net worth by roughly $4.8 million.
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    by jsrRN Jan 13, '09 10:03 pm
    ©2013 allnurses.com INC. All Rights Reserved.
    lindarn and herring_RN like this.
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  3. 15 Comments so far...

  4. Guide
    Jan 14, '09 by
    Shame on them when they staff unsafely because of "the budget"!
    lindarn likes this.
  5. Jan 15, '09 by
    Actually I think congrats to them all. I feel HCA is an extremely well run corporation.I am very happy with them
  6. Jan 15, '09 by
    Dear iam46yearsold: Where do you or did you work for HCA and what was your job there? Yea, they run a good company at no equipment and very short staffing along with unethical dealings, attempting to place the nurses in a position of liability. I worked for a small county hospital in Texas were I was the director of the ED. HCA bought out this facility. At the time they did not want to take any non funded patients if they did not have to, so they were trying to come up with some innovation ways to prevent these patients from getting into the system. This was just as a law came out requiring everyone who comes to the emergency department to have a minimum of a medical screening exam. They hired a bunch of lawyers from Vincent and Elkins (big firm in Houston) to help them figure out how they could get around this law. They were trying to come up with some definition of "medical screening exam" which was stupid as it was already outlined under the law. In any case, we go into this big meeting and they start telling me that the nurses at triage will be performing the medical screening exams. If the nurse does not feel it is an emergency, the patient is sent away. I thought I was going to have a STROKE. I told the administration along with the attorneys (who by the way had never read the nurse practice act), that there was no way what so ever that the nurse at the triage desk would be performing the medical screening exams. This is practicing medicine without a license and goes directly against the law. In addition, it places the nurse at great liability. I guarantee you that if they had gone ahead with this policy, the first screw up and the nurse would have been hanging out to dry be herself. I had to read the nurse practice act to them and informed them in no uncertain terms that the nurses in that ED would not be doing this and if they tried to make them, they would all walk out. Additionally, I told them that I would report this event to the BNE and to the state health department. I thought the CEO was going to come across the podium and assault me. I got the hell out of that place as soon as I could. This is not the only example. They replaced our best physician group with some kind of group that had been thrown out of every other place they had tried to practice. I mean the care took a major nosedive and complaints went up. It was sad because it was a great ED, with great patient care and great outcomes. It all went down the drain with HCA. All they care about is $$$$ and I think it is unethical to make a profit for share holders on the backs of sick people. I will never work for any kind of for profit hospital again. They are in the lowest area of Dante's hell.
    herring_RN and lindarn like this.
  7. Jan 15, '09 by
    How long ago did this happen?

    You're certainly allowed your opinion, Diane, but you're describing the advent of the 1986 COBRA laws that included the initial EMTALA regulations. (46 & I know all about it.) It sounds like you'll forever have that bad taste in your mouth, so none of my counter-points will make a difference.

    I've been on & off with HCA since 1992. Not everything I've witnessed was great, but I also realize that the grass usually ends up being the same color on both sides of the fence. Deep down, not-for-profit CEOs want to turn profits, too.
  8. Jan 15, '09 by
    This is true, Ive been with them off and on for a long time. Ive been treated very well all the time. I am very happy with my experiences there.
  9. Jan 15, '09 by
    where is heir, former Senator bill Frist, MD of HCA?
  10. Jan 15, '09 by
    link:


    bill frist
    http://en.wikipedia.org/wiki/Bill_Frist
  11. Jan 15, '09 by
    Quote from diane227
    Dear iam46yearsold: Where do you or did you work for HCA and what was your job there? Yea, they run a good company at no equipment and very short staffing along with unethical dealings, attempting to place the nurses in a position of liability. I worked for a small county hospital in Texas were I was the director of the ED. HCA bought out this facility. At the time they did not want to take any non funded patients if they did not have to, so they were trying to come up with some innovation ways to prevent these patients from getting into the system. This was just as a law came out requiring everyone who comes to the emergency department to have a minimum of a medical screening exam. They hired a bunch of lawyers from Vincent and Elkins (big firm in Houston) to help them figure out how they could get around this law. They were trying to come up with some definition of "medical screening exam" which was stupid as it was already outlined under the law. In any case, we go into this big meeting and they start telling me that the nurses at triage will be performing the medical screening exams. If the nurse does not feel it is an emergency, the patient is sent away. I thought I was going to have a STROKE. I told the administration along with the attorneys (who by the way had never read the nurse practice act), that there was no way what so ever that the nurse at the triage desk would be performing the medical screening exams. This is practicing medicine without a license and goes directly against the law. In addition, it places the nurse at great liability. I guarantee you that if they had gone ahead with this policy, the first screw up and the nurse would have been hanging out to dry be herself. I had to read the nurse practice act to them and informed them in no uncertain terms that the nurses in that ED would not be doing this and if they tried to make them, they would all walk out. Additionally, I told them that I would report this event to the BNE and to the state health department. I thought the CEO was going to come across the podium and assault me. I got the hell out of that place as soon as I could. This is not the only example. They replaced our best physician group with some kind of group that had been thrown out of every other place they had tried to practice. I mean the care took a major nosedive and complaints went up. It was sad because it was a great ED, with great patient care and great outcomes. It all went down the drain with HCA. All they care about is $$$$ and I think it is unethical to make a profit for share holders on the backs of sick people. I will never work for any kind of for profit hospital again. They are in the lowest area of Dante's hell.
    Great post!!!

    if you have time...

    send this to the Nashville newspapers.

    home of HCA and former senator bill frist, MD--
    HEIR to HCA.
  12. Guide
    Jan 15, '09 by
    Much of those millions are our tax dollars WE paid for Medicare patients. Sad that administrators, not nurses & physicians & others who provide care or support to the hospital have to struggle for patients needs.

    HCA RN Network for those interested:

    http://www.calnurses.org/hca/?print=t