In his latest commentary from the National Institute of Health Policy, former U.S. Senator David Durenberger (R - Minn.), reacts to the management meltdown at UnitedHealth Group (UHG) that led to the ousting of CEO & chairman Bill McGuire:
"Minnesota journalists, asleep at the UHG switch while the Wall Street Journal and others did their work for them, are interesting in their reaction. What will happen to Twin Cities philanthropy? To the arts? The University of Minnesota? Would McGuire use his money to cover the uninsured? In our very best “Minnesota Nice� style, no one in MN but Attorney General Mike Hatch would even suggest the McGuires forego the financial gains from Bill’s bad judgment. Why risk Bill’s infamous temper if you’re hooked on “philanthropy?� Perhaps they’ve forgotten that the company foundation gave less than 10% of its gifts to Minnesota charities last year.
Minnesota’s donor/benefactor community knows what happened to the last Stanley Cup hockey winner in Minnesota when we criticized owner Norman Green for both his grating personality and mounting financial and legal problems. He quickly moved the North Stars to Dallas. This was about the same time United founder – and now new chairman - Rich Burke was buying the Winnipeg Jets and moving them right through Minnesota to Phoenix. And Minnesotans assume Texan McGuire can do the same. After all, we’re still a “small fish� market for folks who like to swim with sharks. And, as I mentioned a year ago, United directors actually believe the company would move its headquarters out of a state that won’t let them sell insurance products if the heat was turned up. So why not now?"
As if billion dollar health care industry issues aren't complicated enough, let's bring in "philanthropy" and big-league sports. Durenberger offers an interesting perspective.
Posted by schwitz at October 20, 2006 07:36 AM | TrackBack