Cash out your IRA, Bulldoze your house
Posted: Fri May 22, 2015 9:22 am
"Whoa! You don't MEAN that!" you say.
That's what the Mayor and Cleveland Clinic are telling (make that, "ordering") us to do with our Lakewood Hospital. Spend the $54 million in long-term investments (on the Hospital's Balance Sheet 12/31/2014) to raze the hospital (worth more than twice that) and let Cleveland Clinic build a puny, not-equipped little "Wellness Center" in its place. Clinic calls that an "investment" of $34 million. That's our own money, folks!
Then the Lakewood Hospital Foundation will have no more hospital to support with its $33 million investments - so it will "reinvent" itself, with Cleveland Clinic board members (say again??), change its mission, and give the money to surrounding communities for soccer fields, park benches, fancy new buildings for histerical societies, or whatever people ask for.
Note that half the board members of Lakewood Hospital Association, and half the board members of Lakewood Hospital Foundation, are not Lakewood residents; and some of them are Cleveland Clinic executives. What gives them the right to order us to destroy our hospital?
That's what the Mayor and Cleveland Clinic are telling (make that, "ordering") us to do with our Lakewood Hospital. Spend the $54 million in long-term investments (on the Hospital's Balance Sheet 12/31/2014) to raze the hospital (worth more than twice that) and let Cleveland Clinic build a puny, not-equipped little "Wellness Center" in its place. Clinic calls that an "investment" of $34 million. That's our own money, folks!
Then the Lakewood Hospital Foundation will have no more hospital to support with its $33 million investments - so it will "reinvent" itself, with Cleveland Clinic board members (say again??), change its mission, and give the money to surrounding communities for soccer fields, park benches, fancy new buildings for histerical societies, or whatever people ask for.
Note that half the board members of Lakewood Hospital Association, and half the board members of Lakewood Hospital Foundation, are not Lakewood residents; and some of them are Cleveland Clinic executives. What gives them the right to order us to destroy our hospital?