You'd never guess Wishard wants to build a new $754 million hospital complex based on the ballot question that will decide the issue.You've got to love this quote from the HHC's CEO: "We in conjunction with the (county) auditor tried to be very careful and meticulous in providing a description of the project," said Matthew Gutwein, chief executive officer of the Health and Hospital Corp. of Marion County, which operates Wishard Health Services." Gutwein is lucky he's not the CEO of a publicly-traded company. Enticing investors and lenders with the kind of misleading and false statements his ballot question represents would lead some folks to accuse you of committing securities fraud. I guess when it's the government making the misrepresentations, it's okay.
Marion County voters heading to the polls Nov. 3 will read a ballot question on whether to approve financing for the proposed hospital -- but that question provides no information about project financing.
No mention of the estimated cost.
No mention of the expected debt level of roughly $613 million.
The ballot question doesn't even say that Wishard expects to complete the project with no need for additional tax money.
Instead, the three-part question, posted at indy.gov, says the project would allow Wishard to provide health care, including specialized services such as high-level trauma and burn treatments, to all county residents, regardless of ability to pay, and would help train future doctors, nurses and other health workers.
Thursday, August 06, 2009
Star Thinks Wishard Referendum Question Is Light On Details
Star business reporter Dan Lee has a story today that echos my post from earlier this week raising questions about the wording of a referendum Marion County has certified on behalf of the Health & Hospital Corporation asking voters to approve up to $750 million in borrowing to construct a new hospital.