Summers Deposition Exposes His Incompetence In Business and His Untrustworthiness as a Fiduciary

[Jim O'Bryan]

Summers Rubbers was worth more at the time of the sale then when his father stepped down, which is no reflection on his father, a really good human. There are many factors in business that can make you successful or not. Some real, some illusionary. I believe the comment at the time was that it was easily worth twice as much under 3rd generation management. Personally I would rather stick to how bad this nightmare was handled, than how the Summers family ran the Summers family business.

.

Fair enough.
The intent is to attempt a simple assessment of Summers' as "competent" businessman. Was he a simple owner/operator of a simple business, a simple owner/operator of a sophisticated business, a sophisticated owner/operator or a simple business, or a sophisticated owner/operator of a sophisticated business. If one can reasonably place him within one of these quadrants, one can begin to predict how Summers' would likely fare in his fiduciary (oops, owner) role at LH. After all, past is prologue. Or is it?

I invite others to offer their assessment.

Yet, no matter which quadrant, Summers apparently sold his inherited business with professional assistance, a standard of care that his family stakeholders likely expected of him. Yet for LH, Summers engaged a very/very/very sophisticated operator in CCF, in a very/very/very sophisticated business, in a very/very/very sophisticated industry, in very/very challenging times.

And for this huge task, Summers appears to have relied upon a manipulated consultant, relied upon in-house counsel (Butler, yes), and relied upon his (oops, our) rapacious partner.

Past is prologue. Or is it?

Past can certainly be prologue, and it is open to discussion, I am just saying from what I remember and know, the company was worth more, and it was through some good/lucky/opportunistic deals and contracts, but that what defines for profit and non-profit businesses. While one could argue selling a family business does not set you up for this kind of business deal, one could also argue that making multi-million dollars deals liquidating businesses is his forte.

I think we have a perfect storm of egos, bad business, misplaced trust, bad advisors, and even worse consultants, with a couple snakes in the grass but out of view. It all adds up to Lakewood getting screwed by a small handful for a variety of reasons. Money to brass plaques.

As to the legal side of this "deal" I have spoken with many people over the last two years, from all sorts of government offices, retired, present, and they all think it is the most lawyered up knife edge walking BS they have ever seen. Which would underline why Kevin got Ohio Law Director of the Year.

I still stand by the metaphor our Mayor got in a stolen car by choice or by accident, along the way they thought they were going cow tippling, screwed up bad and let the prize horse out of the barn to run away. Said it back in September 2014. And when caught, he lied and has tried to cover it up since day 1.

This debacle reeks of "Lakewood Secret Government" Grandiose, ill-conceived, decades late, and self serving, and will pan out just like their high end shopping err Marc's Plaza did.

.

[Brian Essi]

No matter which quadrant, Summers apparently sold his inherited business with professional assistance, a standard of care that his family stakeholders likely expected of him. Yet for LH, Summers engaged a very/very/very sophisticated operator in CCF, in a very/very/very sophisticated business, in a very/very/very sophisticated industry, in very/very challenging times.

And for this huge task, Summers appears to have relied upon a manipulated consultant, relied upon in-house counsel (Butler, yes), and relied upon his (oops, our) rapacious partner.

The healthcare industry is the most heavily regulated industry in the US except for the nuclear energy industry. Summers and Butler were clueless and still have no idea about what they are dealing with -- they bought the no more need for "sick care" narrative so Summers' Club buddies could get "control" a fraction of the millions that the city was entitled to. How sad for the underserved and poor who they have utter distain for.

[Brian Essi]

Summers Rubbers was worth more at the time of the sale then when his father stepped down, which is no reflection on his father, a really good human. There are many factors in business that can make you successful or not. Some real, some illusionary. I believe the comment at the time was that it was easily worth twice as much under 3rd generation management. Personally I would rather stick to how bad this nightmare was handled, than how the Summers family ran the Summers family business.

.

Fair enough.
The intent is to attempt a simple assessment of Summers' as "competent" businessman. Was he a simple owner/operator of a simple business, a simple owner/operator of a sophisticated business, a sophisticated owner/operator or a simple business, or a sophisticated owner/operator of a sophisticated business. If one can reasonably place him within one of these quadrants, one can begin to predict how Summers' would likely fare in his fiduciary (oops, owner) role at LH. After all, past is prologue. Or is it?

I invite others to offer their assessment.

Yet, no matter which quadrant, Summers apparently sold his inherited business with professional assistance, a standard of care that his family stakeholders likely expected of him. Yet for LH, Summers engaged a very/very/very sophisticated operator in CCF, in a very/very/very sophisticated business, in a very/very/very sophisticated industry, in very/very challenging times.

And for this huge task, Summers appears to have relied upon a manipulated consultant, relied upon in-house counsel (Butler, yes), and relied upon his (oops, our) rapacious partner.

Past is prologue. Or is it?

Past can certainly be prologue, and it is open to discussion, I am just saying from what I remember and know, the company was worth more, and it was through some good/lucky/opportunistic deals and contracts, but that what defines for profit and non-profit businesses. While one could argue selling a family business does not set you up for this kind of business deal, one could also argue that making multi-million dollars deals liquidating businesses is his forte.

I think we have a perfect storm of egos, bad business, misplaced trust, bad advisors, and even worse consultants, with a couple snakes in the grass but out of view. It all adds up to Lakewood getting screwed by a small handful for a variety of reasons. Money to brass plaques.

As to the legal side of this "deal" I have spoken with many people over the last two years, from all sorts of government offices, retired, present, and they all think it is the most lawyered up knife edge walking BS they have ever seen. Which would underline why Kevin got Ohio Law Director of the Year.

I still stand by the metaphor our Mayor got in a stolen car by choice or by accident, along the way they thought they were going cow tippling, screwed up bad and let the prize horse out of the barn to run away. Said it back in September 2014. And when caught, he lied and has tried to cover it up since day 1.

This debacle reeks of "Lakewood Secret Government" Grandiose, ill-conceived, decades late, and self serving, and will pan out just like their high end shopping err Marc's Plaza did.

.

Jim,

My sources say Summers was a failure until fracking came along and saved the company. That was like being a a mutual fund manager in the 1990s--they all made money. Summers got out when the getting was good--selling one business on an uptick is not a forte.

The fact remains that he "sold" the hospital without a broker dealer and without any advertising to the lowest and only bidder that he considered--he stole the car and took it to his chop shop.

[Lori Allen _]

Cameron,
I have to disagree with you. We all live in one city named Lakewood. What in the hell does Donald trump have to do with this? The point I was trying to make, which apparently everyone missed, is that this is a non- partisan issue. Mr. Deenen has to make a smart ass political comment on every thread. Not everyone in Lakewood is a Democrat. Not everyone trying to save the hospital is a Democrat. Not everyone doing research behind the scenes on this issue is a Democrat. I voted for Obama twice. A mistake I now regret. A week or so ago, on a political thread, I made a comment that made one of the men here on the Deck mad. He informed Jim and the thread was moved. I am just wondering, why the double standards? Why is it OK for the men to do these things and then I do it and some of them cry about it. Some of my female friends read the Deck, but refuse to come on and comment because of the chauvinistic behaviors of some of the men. FWIW

[Lori Allen _]

P.S. This does not help Save Lakewood Hospital.

[cameron karslake]

Cameron,
I have to disagree with you. We all live in one city named Lakewood. What in the hell does Donald trump have to do with this? The point I was trying to make, which apparently everyone missed, is that this is a non- partisan issue. Mr. Deenen has to make a smart ass political comment on every thread. Not everyone in Lakewood is a Democrat. Not everyone trying to save the hospital is a Democrat. Not everyone doing research behind the scenes on this issue is a Democrat. I voted for Obama twice. A mistake I now regret. A week or so ago, on a political thread, I made a comment that made one of the men here on the Deck mad. He informed Jim and the thread was moved. I am just wondering, why the double standards? Why is it OK for the men to do these things and then I do it and some of them cry about it. Some of my female friends read the Deck, but refuse to come on and comment because of the chauvinistic behaviors of some of the men. FWIW

Lori,
All I meant to point out was that anytime Summers' name is in the title of a thread, it's going to get political. I agree that the hospital issue is non-partisan but Mike Summers is not a non-partisan subject of discussion, his party affiliation flip-flopping not withstanding.

Besides, you seemed to have no problem jumping right in to the fray by bringing Obama into this. You really can't complain what Mr. Deneen posts when you yourself do the same thing. Sorry for continuing the detour...

[Lori Allen _]

I guess you just don't get it, so I won't bother to keep repeating it. Once again Save Lakewood Hospital comes alive in a not so flattering way. I have been trying to coordinate with Pam Wetula on some very important issues regarding the hospital case. With the attitude of some SLH members or affiliates here on the Deck, you can do it yourselves. After all, you all seem to have plenty of time to be here on the Deck. Perhaps your time could be much better spent . I got a phone call from Pam Wetula last week wanting me to help make phone calls for Save Lakewood Hospital. Keep in mind that I am not an active member. Why don't you help her make phone calls? I was told SLH doesn't have enough people to help. I have a roster from awhile ago where there were 107 members. Perhaps some of your attitudes are why you can't get people to help. This was my third time being asked to consider coming back and helping. Forget it. SLH is killing themselves. Now, I will await your come back to my comments as I know you are one of the men that posts here that always has to have the last word!

[Lori Allen _]

Cameron, since you said that this issue is political, then I guess Save Lakewood Hospital has become a political organization.

[cmager]

No matter which quadrant, Summers apparently sold his inherited business with professional assistance, a standard of care that his family stakeholders likely expected of him. Yet for LH, Summers engaged a very/very/very sophisticated operator in CCF, in a very/very/very sophisticated business, in a very/very/very sophisticated industry, in very/very challenging times.

And for this huge task, Summers appears to have relied upon a manipulated consultant, relied upon in-house counsel (Butler, yes), and relied upon his (oops, our) rapacious partner.

The healthcare industry is the most heavily regulated industry in the US except for the nuclear energy industry. Summers and Butler were clueless and still have no idea about what they are dealing with -- they bought the no more need for "sick care" narrative so Summers' Club buddies could get "control" a fraction of the millions that the city was entitled to. How sad for the underserved and poor who they have utter distain for.

... ...

The fact remains that he "sold" the hospital without a broker dealer and without any advertising to the lowest and only bidder that he considered--he stole the car and took it to his chop shop.

This is the point. Independent of an assessment of Summers' business acumen or lack thereof, Summers appears to have applied a standard of care to the sale of his inherited business. He appears to have NOT applied a standard of care in the far/far/far more complex "sale" of LH, and many accuse him (and Butler) of being incompetent, foolish, naive, cavalier, or corrupt. Why did he act this way, who does he represent, and how does he benefit? Was the table already set for him, is he but a minion of larger forces, why was he ~ chosen, and if it is corrupt why does he/all believe he/all can get away with it?

I'm not at all keen on a narrative that claims Summers was duped. Not at all. This doesn't smell stupid.

[Brian Essi]

No matter which quadrant, Summers apparently sold his inherited business with professional assistance, a standard of care that his family stakeholders likely expected of him. Yet for LH, Summers engaged a very/very/very sophisticated operator in CCF, in a very/very/very sophisticated business, in a very/very/very sophisticated industry, in very/very challenging times.

And for this huge task, Summers appears to have relied upon a manipulated consultant, relied upon in-house counsel (Butler, yes), and relied upon his (oops, our) rapacious partner.

The healthcare industry is the most heavily regulated industry in the US except for the nuclear energy industry. Summers and Butler were clueless and still have no idea about what they are dealing with -- they bought the no more need for "sick care" narrative so Summers' Club buddies could get "control" a fraction of the millions that the city was entitled to. How sad for the underserved and poor who they have utter distain for.

... ...

The fact remains that he "sold" the hospital without a broker dealer and without any advertising to the lowest and only bidder that he considered--he stole the car and took it to his chop shop.

This is the point. Independent of an assessment of Summers' business acumen or lack thereof, Summers appears to have applied a standard of care to the sale of his inherited business. He appears to have NOT applied a standard of care in the far/far/far more complex "sale" of LH, and many accuse him (and Butler) of being incompetent, foolish, naive, cavalier, or corrupt. Why did he act this way, who does he represent, and how does he benefit? Was the table already set for him, is he but a minion of larger forces, why was he ~ chosen, and if it is corrupt why does he/all believe he/all can get away with it?

I'm not at all keen on a narrative that claims Summers was duped. Not at all. This doesn't smell stupid.

Mr. Cmager,

You are right. This was a calculated "steered" deal not just a "stupid" deal--although it was sold to the "stupids" based on a huge lie. My point in calling Summers and Butler "clueless" should be refined---they are ignorant of healthcare and the consequences of what they are doing, because they don't care about people--they care only about money and things. (I stole that line from Meg Ostrowski)

Summers & Co. simply used the bogus "healthcare is changing" narrative to achieve their ends. One of the biggest lies of all is currently on the City's website that Summers is allowing CCF to use for selling a fraud:

Our strategic vision of healthcare for the Lakewood community is based on the knowledge that health care is changing from a facility- and physician-based paradigm, designed to care for the sick, to a population-based effort that aims to improve the health of an entire community by helping people live healthier lives, treating their health conditions early to prevent chronic diseases, and reducing the need for "sick care" in hospitals. This is the future of health care.

Summers and CCF have decimated the physician base in Lakewood--almost all are gone or leaving--CCF and Summers don't care. They are together looting Lakewood's charitable financial assets to do things Summers' Club has wanted and to help CCF build and improve hospital facilities in Fairview and Avon and a transfer station facility in Lakewood--all facility based to "care for the sick"--exactly opposite of the LIE used to sell the deal.

The entire premise of the Summers Doctrine is built on a lie--that will be his legacy--a noose he put around his own neck.

Back to the point of this thread---Summers' deposition reinforces the fact of poor business skills, dishonesty and self interest---one of the fundamentals of fiduciary law is that the fiduciary acts for others, not himself and his insiders' club.

[Marguerite Harkness]

Ignorance can be fixed. (That's why SLH is investigating, to inform ourselves and others.)
Stupid is forever. (The folks who were duped, and don't want to know better.)
But Conspiracy is a Federal Offense. (Those who did the duping.)

[Peter Grossetti]

Lori - For the sake of clarification, what would your definition of "politics" or "political" be?

Maybe Mike Deneen would answer that question, too?

[kate e parker]

politics are unavoidable with this issue. but national politics? come on.

deneen has consistently brought presidential candidates into these SLH threads for weeks now. it's like he's killing two birds with one stone. normally, presidential related posts are relegated to the global forum (unless there is a candidate stop in Lakewood or some other local tie in).

look, I don't care what deneen posts but when the presidential stuff gets mixed in on these posts, don't come crying to me when I start jumping in with my usual "global forum" flair.

[Dan Alaimo]

Heretical comment number 85: As someone who doesn't want to click on a bunch of places for a handful of messages, I don't see the point of the separate forums. Judging by the participation, a lot of other people think the same way. So Mike sees a connection between national and local politics. Fine. How much did it hurt you to read it here?

[Lori Allen _]

Thank you Kate. Unfortunately, it appears as though some of the men here on the Deck just don't get it. I guess it's a male thing!