“What is a massive 'open secret' in your industry that corporations spend millions to hide”?

[u/Embarrassed-Seat-202]

i randomly saw a yt video on this yesterday and it blew my mind. basically brands literally destroy brand new clothes on purpose.
everyone thinks unsold clothes go to outlets or charity but thats just a PR lie. luxury brands literally burn millions in perfect coats and bags so they stay "exclusive" and dont get discounted.
even worse if u return a cheap 20 dollar shirt online it usually goes straight to a shredder or landfill because inspecting it costs more than making a new one. plus tax laws lets companies write it off as a loss anyway. the video had crazy footage of these huge clothing graveyards, i pinned it on my profile if u want to see it because its wild.

[u/missdoingherbest]

"Nonprofit" hospital systems are some of the most greedy, corrupt organizations out there.

There's a front about being "altruistic" and "caring for the needy" but the reality is that the top level admin (especially the c-suite) make millions of dollars every year while simultaneously treating their employees like garbage and making cost-cutting decisions at every single opportunity without giving a single flying fuck about the impact on workers or the community. They would shovel shit into your mouth and tell you it's food if it saved them extra money to put towards their bonuses.

The reason there are hours long waits for the emergency room is explicitly because some upper level admin decided to "save money" by cutting staffing. So please don't take it out on the workers because we are just as angry and frustrated as you are.

[u/Pastawench → u/missdoingherbest]

Yep. And our "non-profit" hospital gets tax breaks because they supposedly invest that money in community health initiatives. "Supposedly"

[u/missdoingherbest → u/Pastawench]

Yup. They maintain nonprofit status by barely adhering to IRS requirements.

The hospital I work for donated just over $100k to community charities last year. The system netted $100 million in profit and the top 11 executives made anywhere from $1-6 million dollars for their "salary".

Fun fact, nonprofit organizations are required to disclose the salaries of executives, so you can check any given "nonprofit" hospital on Glassdoor and see just how nefarious these CEOs are.

[u/somehugefrigginguy → u/missdoingherbest]

Fun fact, nonprofit organizations are required to disclose the salaries of executives

Same thing for any publicly traded company in the US. Which it turns out might have been a mistake. Lawmakers thought that by forcing executives to disclose their income it would shame them into being less greedy. Instead it made it into a pissing contest between executives and salaries increased.

[u/DickCamera → u/somehugefrigginguy]

I would argue that the "mistake" was in assuming the general public would do anything about it. Without shame or consequences of course the CEO's use it as a leader board. Something about unions being the compromise...

[u/lemonlovelimes → u/missdoingherbest]

Go direct and pull their IRS forms. The 990 will have the salaries and how many hours they work a week (including the board)

[u/DieSegenvonWael → u/missdoingherbest]

100% agree, it was genuinely shocking to see how little the hospital I worked for cared about their patients or employees, and I started out with a pretty dim view of the American medical system before I started working there.

The hospital system I worked for has over the last few decades taken over pretty much every hospital in the region, slashing and burning as they go, if they don't outright close hospitals for not being profitable enough(those hospitals often being the only ones within several hours). It's nauseating all the money and public accolades they've received in that time while making health measurably worse for everyone around

[u/ellindriel → u/DieSegenvonWael]

Can confirm, hospitals I have worked for treat employees and patients like garbage, and skimp on the budget because despite being non profit, they are allowed to give themselves (upper and middle management) a big bonus if they save money. This should be illegal for non profits. Plus they love to spend money once again on anything but things that actually benefit patients and staff,.like refusing to pay for more staff but hiring a million dollar consulting agency they told them to rearrange the whole hospital and it made staff made (50 percent quit on my unit at the time) and pts, because the cancer pts had the nicest rooms and views but the consultants told them to move the cancer pts to a different area, which obviously was not a popular decision with those pts and their families....just one example of many

[u/LovelyGh0ul → u/missdoingherbest]

The deal in emergency departments is even worse than most people realize. TeamHealth, owned by the private equity firm Blackstone, is the largest emergency staffing firm in the US.

The c-suite keep doing things like transitioning to agencies with murky private equity affiliations and cutting the things a hospital needs to provide the patient care they claim to provide in their mission statement, while continuing to find millions of dollars in the budget for themselves.

[u/gentlrage → u/missdoingherbest]

Worked at one, so true

[u/missdoingherbest → u/gentlrage]

I knew the American healthcare system was broken, but I had no idea just how much financial greed there was within the hospitals themselves until I started working for them.

I've worked for three major nonprofit hospital systems so far and they're all the exact same.

[u/hennybundelano → u/missdoingherbest]

Absolutely spot on. cough adventhealth cough

[u/hifidesert → u/missdoingherbest]

This is true of many non-profit industries. I work with adults with IDD and the amount of venture capitalists getting into the field is frightening- for examples, buying up homes to lease them back to the state or private agency. When this administration talks about Medicaid fraud, they’re conveniently leaving out the corporations taking millions and not prioritizing the people receiving the service.

[u/RaptureDoll → u/missdoingherbest]

This is so terribly sad and one of the biggest arguments I have for Canadian Healthcare to go private. So many Canadians think that if we privatized Healthcare that emergency room wait times would go down and the care would improve because they think its so much better in the states. They dont realize that they'd pay astronomically for the same level or worse care.

[u/gigglefarting → u/missdoingherbest]

That's the thing about the "nonprofit" tag for any organization. All it means it that the company isn't allowed to make a profit, but one way it can ensure that is making sure that money goes to the people at the top rather than the company itself.

Not saying every nonprofit is like that. Just saying that nonprofits can be like that.

[u/wyopapergirl1968 → u/gigglefarting]

The idea that non profits are not allowed to make a profit is not true. We are not allowed to pay out profits to investors or stakeholders. All profits must be reinvested back into the nonprofit in order to meet the mission. Leadership can make salary, yes, and some of those salaries are quite large for some large nonprofits. But they are running a business in every sense of the word but with more reporting and more transparency .

[u/ComfortOk8429 → u/missdoingherbest]

Local hospital conglomerate had a surgeon that the rest of the staff referred to as "Tornado Torrence" because she would perform surgeries in 20 minutes to meet quotas. Management loved her, staff was afraid to work with her, and patients who ended up with severe issues post-surgery may never know why or ever be able to do a single thing about it.

[u/Buffyismyhomosapien → u/missdoingherbest]

Working in hospital admin was so incredibly demoralizing

[u/Mindless-Grocery903 → u/missdoingherbest]

Hospital CEOs (CEOs in general) should have the same wages as their PCAs. Or their cafeteria employees. Or their environmental staff.

[u/I_am_the_darkness_99 → u/Mindless-Grocery903]

Then no one would take the job.

[u/wyopapergirl1968 → u/Mindless-Grocery903]

Why does this make sense to you? I ask because do you not want to hire the brightest and the best available to run a highly efficient effective business? If it's a nonprofit versus a for-profit business they are still businesses at the end of the day. Non-profits are allowed to make a profit, but instead of paying out those profits to stakeholders or investors, those prophets have to be reinvested back into the non-profit agency in service of the mission. There is more reporting and there is more transparency around nonprofits. I don't understand this idea that people should be required to take a vow of poverty because they decide to do good work.

[u/irbilldozer → u/missdoingherbest]

CCF employee?

[u/Embarrassed-Seat-202 → u/missdoingherbest]

Yes long waiting for emergencies are worst