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Assuming that he worked 50 weeks a year, his compensation works out to be $59,000/hour. And he still has to resort to this kind of tactics to pad his income? What a scumbag. No wonder out health insurance costs so much.
Investors made enormous amounts of money as McGuire increased UNH market value from less than $1 billion to more than $56 billion, with McGuire collecting only a tiny fraction of stockholder gains. On the other hand, investors who bought at the peak may have lost some money because of the UNH price driven down by the bad press.
No white collar criminal should ever be prosecuted because they are not an expert in everything. So should a murderer get off because he does not have a medical degree and doesn't understand the physiology? "I didn't know the bullet would strike a vital organ!"
Just watch, he will get off with a slap on the wrist. Nobody will go to jail and it will become a landmark case that executives use for the next 40 years.
McGuire has no defense. His excessive earnings, at the very least, did harm to others by diverting wealth from the potential of providing care to others into serving his own selfish interests.
If his actions are illegal the only just penalty will be jail time. Any monetary penalty is meaningless to a billionaire.
Bet he didn't mention that in his interview for the CEO position..."ahh, I can speak to only one specific sector of the entire Health Care and Medical Community...pulmonology...I don't know squat about anything else."
Evidently I'm more qualified for his job.
McGuire was CEO. Stupidity is not a defense. Ignorance is not a defense.
This rip off artist is a caricature of unbridled greed and all that is wrong with our health care system.
The board, compensation committee, CFO and all other complicit in the crime should have to forfeit all payments from Untied Health.
In the land of the highly-paid, he's a piker: Assuming that Oprah Winfrey worked 50 weeks last year, her compensation works out to be $81,000/hour; Assuming that Steven Spielberg worked 50 weeks last year, her compensation works out to be $366,500/hour.
This man needs to go to jail! He is a disgrace to mankind. The company is just as horrible. Absolutely no respect to their employees. They bring em in and throw them out as often as they throw out their garbage!!
Then I suppose the UNH stockholders should have to forfeit the over $50 BILLION of increase in stockholder value. Where should they send their checks?
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