Vultures: The Private Equity Firms That Gobble Up Hospitals and Spit Them Out

[Disaffected]

3. Bastards.

So, the process seems to be gain control of a company via stock purchases (especially when its stock price is low), take out big loans using the hospital assets as collateral, use the proceeds to pay fat executive salaries, bonuses and "management" fees, pay big share dividends, buy back shares (to increase executive "stock performance" bonuses), cut employee wages, sell other assets, loot pension funds (use as more collateral for more loans). etc.

Declare bankruptcy and walk away when the place is sucked dry.

IIRC didn't Mitt Romney's outfit operate that way?