In late 2007, the investment firm The Carlyle Group purchased one of the country’s largest nursing home chains despite the concerns of regulators, lawmakers and workers’ groups that the acquisition would lead to staffing cuts and cause a decline in quality of care for residents. The $6.3 billion purchase of Toledo, Ohio-based Manor Care Inc. closed after a Michigan judge… return to article
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Reader Comments (2)Page 1 of 1 pagesThe Carlyle Group, long connected with the Bush family (George W. was on their board) and business associates including some of the bin Ladens, was worth $12 billion on 9/11. Several years later, it was worth $40 billion. I haven’t heard the value lately. The Carlyle Group is one of the largest manufacturers of weapons in the world. They have ambitions to lead in nuclear weaponry and robotic armies. Yet here they are diversifying into care of the infirm at a profit. I don’t know about you. But it gives me the creeps.
Posted by urthsong on Jan 21, 2008 at 10:36 PM This story begins with the, “The $6.3 million purchase of ... Manor Care Inc.” The author must have meant to write 6.3 billion—a quick glance at Manor Care’s financial records shows that they made 167 million in net income (profit) in 2006.
Posted by pauld32 on Jan 23, 2008 at 7:29 AM Page 1 of 1 pages -
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