Apparently, Essent seems to want to weasel out of the new hospital in Ayer.... The CEO of NVMC is quoted as saying that their 1.9% profit is not enough to justify the endeavor. (Where does that put Haverhill?) Personally, I wouldn't say that even a 2.5% would be enough to dump in 50Million, but what do I know....
They are trying to get a 20 year tax abatement, but wasn't this all taken into account when they purchased the hospital? Sounds like a new Essent strategy--be prepared, you other locations, the abatement train may be pulling in sooner than you think!
6 comments:
From the article, it seems that Essent is trying to shirk it's commitment under the contract. Don't they have to spend $16,000,000 within a specific time?
Hey Steve... Two things you can count on in life... death and taxes. If Al Capone couldn't get away with it what makes you think you can. Why should the town of Ayer give you a deal, it would set a bad precedent for all the other businesses in town. Hud is quoted as saying the company is worth 340 million dollars so don't be crying poor mouth to the residents of Ayer. The people in this town, which has the lowest income per capita of any town around, pay their taxes and don't ask for handouts from the town. After all, the "new hospital" is the reason the fire dept. had to expand. Now you don't want to pay your share of it. Shame on you!! I hope the news article got some blood boiling and the town fathers received an earfull from the residents.
Mr. Roach, you were on the front page of the Lowell Sun not two months ago spouting about how you were going to make this new hospital more like a hotel.
Maybe you need to scale down your grandiose plans and concentrate on getting back the quality care that was a constant under the name and management of Deaconess Nashoba. This would help solve your taxation issues also. Quit conniving and work on caring for the patients of the valley!!
They want a 20 year abatement? With capital equipment excluded? And what about the decreasing percentage? Gee, is that on the depreciated value? What is their write-off period? Probably the same as the decreased amount.
So, they get to write-off the depreciation, plus at the end of the time, when the depreciated value is $0, they pay nothing on the taxes. Not bad, Stevie....
For the benefit of my fellow Yankees, the definition of what the Nashvillians are doing is called "crawfishing". ANd considering the hot water E$$ent seems to be getting into, it looks like we gonna have us a big ol' crawfish boil, Ah gah-ron-tee!!
IIRC, wasn't part of the reason we booted the British off the continent back in the late 1700s over taxes? Back then, it was "taxation without representation" that made us mad. Now it's "Less taxation on the corporation"- and oh yes, for 20 years, if you could. All this to get the Hilton of hospitals? And the regular Joes and Janes get to make up the difference on THEIR tax bills?
Oh, please.........
Any large company asking for tax abatements in any community is a slap in the face to the working man. To have a small firm like Essent whose CEO's actions reek of arrogance blow into town and do the same is grounds for revolution all over again.
The only things coming out of Nashville are arrogant CEOs and boy-band "country" music- both of them bad. Can't do anything about the latter, but I think it's time to ship the former back to Tennessee- either marched out, or tarred & feathered, take your pick.
Roach- hee hee hee, appropriate name for an Essent figurehead.....
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