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The ceo isn't really in control. The board of directors is. And even they are subject to "democratic" elections by the shareholders. Just happens to be the same people on the board who own a large portion of the shares, in most cases.
Just thinking.. isn't capitalism neat?
While everyone is understandably happy about this, I have to wonder if UHC's competitors gained value at the same time. Because I could absolutely see investors dumping UHC because of its reputation now but continuing to invest in insurance companies, just moving their money. Selling off UHC stock to buy Anthem stock.
One would hope that would be a risky move. Other CEOs could be next if there are copycats. They should invest more in the military industrial complex. Those CEOs don't get assassinated, they do the assassinating. Much safer bet.
Wait can we use the stock market to bet on the next dead CEO? Brian gets murdered, Anthem goes up. Buy anthem, anthem CEO gets murdered, sell anthem (faster than the other idiots doing this) and buy a different company?
Anyone else remember when the math came back and universal Healthcare would have saved the US like $11,000,000,000 every year or every 10 years or something.
Anyway, they chose not to do that because Citizens United made bribery legal. They did pass a republican Healthcare plan that didn't actually change anything. Just made it easier to pick who was gonna fuck you and how hard on a convenient website maintained by GovCo.
if they're not out of business, it's not enough of a loss.
completely unrelated but who's the new ceo just out of curiosity?
That's $21 billion per bullet ROI.
We've never seen a better cost/benefit ratio
That sounds like a treatment we should pre-approve of
And Luigis life, unfortunately.
He'll be treated like a king in prison until he's killed by a bribed prison guard. And that's assuming the US itself lasts long enough to enforce his sentence.
I wonder what the odds are trump accidentally pardons him.
0 his ceo friends will stop him
Looking at that number made me think that it can’t be right unless the company has many customers (much more than Canada’s population) for it to make sense.
Looked it up, and they have 52 million customers.
So they make sooo much money from 52 million people that they have this amount to spare that would cover 40 million.
Yeah, holy shit.
Edit:
Honestly, they didn’t even lose that much:
That's why private healthcare is so much more expensive than public healthcare. They constantly seek more and more profits.
Americans always say their taxes will go up if they get free healthcare and yeah, no shit it needs to be paid by someone. Overall though they will pay much less than whatever insurance they are currently paying for because there is no profit involved.
It is even wilder when one considers how challenging the Canadian Healthcare System actually is to run. They are on the hook to provide every citizen duty of care over a landmass 1.6% larger than the entire US. It regularly employs helicopter ambulances for access to remote communities and has exceedingly challenging terrain and despite this Canada has lower infant mortality, maternal mortality and longer life expectancy outcomes. On the Numbeo Health Care index which ranks quality of care, doctors and facilities it outpaces the US on that metric too. The Government run Medical Services Plan also covers partial on things like Massage Therapy visits, physio appointments and various services covering based on income so more people have access to those services at affordable prices.
It does all of this on an income tax base that charges 4% less than that of the US. It's a monumental effort keeping it afloat. The amount paid to insurers in the US, not even the system just insurance is just mind-boggling from a Canadian perspective.
That’s $1575USD for each Canadian at the rounded number of 40mil, or $2258CAD.
In 2022 we spent $8563CAD per Canadian, according to the first source I found. (https://www.cihi.ca/en/national-health-expenditure-trends-2022-snapshot)
Just crunching some numbers 🤷♂️
Edit: continuing crunching:
For their 56m customers, that’s $479.5B CAD, or $334.3B USD if they were to spend the same amount as Canada did in 2022.
Now to find out how much they’re profiting yearly compared to how much they’re spending to find out how (roughly) how much you’re being ripped off…
Edit: computing…
Wow. Apparently they increased profit by $340% from 2023 to $168.9 in 2024. (https://m.macrotrends.net/stocks/charts/UNH/unitedhealth-group/gross-profit)
According to this source, operating costs are only in the hundreds of millions.
https://www.statista.com/statistics/622295/operating-costs-of-unitedhealth-group-by-type/
They only have numbers up to 2023 and I don’t want to have to go back and change my numbers. This is time consuming and I want to go do something else. :)
I can’t imagine operating costs rose by 340%. Someone else can finish the numbers, but my conclusion is: the situation is fucked up.
Edit: back in the morning to say, even if we said operating costs were $999 million (To keep my earlier statement accurate)(I don’t feel like finding the numbers again) and they rose 340% in the last year to 3B, that’s still $165.9 billion dollars that should be spent on health care that they’re pocketing.
Indeed - still up on this time last year.
Yeah, and not only that, losing valuation can mean nothing in the long run. Tesla lost half its valuation and then beat its all time high.
UHC exec suit still got paid their salary and bonuses.
Since I don't get my news from memes:
https://finance.yahoo.com/news/unitedhealth-lost-63-billion-value-183122649.html
I get my news from memes, but I appreciate the source confirming it.
Thank you for verifying the source so I don’t have to.
“Brian helped build this company and forged deep, trusted relationships for over 20 years, and the positive impact he had on people will be felt for years to come,” Chief Financial Officer John Rex said.
Fuck right off
Maybe they could ressurect him and we can watch Luigi shoot him again.
It’s simply not true that Canada’s health care costs less than $63 billion. The actual number is closing in on $400 billion ($372 billion for 2024).
And it also should be noted that there are severe problems with our health care system. Severe nursing shortages and very long wait times for a lot of critical care, long wait times to see specialists, etc.
That's per year, it's been less than 2 months since the event, the meme appears to be accurate in that way.
Sorry, when someone says "more than it costs Canada to fund its universal healtcare", I guess we most commonly think in total, like years or something. So I find this unintentionally misleading
Our healthcare only has those problems after alot of cuts. When it used to cost more, it also used that money more efficiently and effectively. The cuts made it far worse than the respective amount of money "saved", redistributed to worse projects is more accurate.
US healthcare has all those problems and on average costs about twice what any other country spends on healthcare
USian here. We have nursing shortages and long wait times as well, and the private equity fucks taking over our system are always looking for ways to make it worse for more money. One thing they've been pushing lately is trying to widen physician/patient ratios, so that doctors spend even less time with each patient.
Depose, deny, defend
Think deeply about the state monopoly on violence and what purpose it serves. Consider how non-violence has been used to cull and mitigate the effectiveness of movement politics since the civil rights movement, where a class of "liberal" white moderates gets to decide what is acceptable or unacceptable as protest, while they themselves have never and will never participate in any kind of meaningful involvement to increase the sphere of rights for all people. Understand why the grievance politics of the right have been so effective at splitting the white working class from other members of the working class, that the white working class is also abused and broken to the wheel of this system, even if their critisism of it are misplaced and ill informed.
Unfortunately thats is nothing (tho it's 73bn I think).
The lower price is a bit in tune with the recent market overall (-13% vs the -5ish% of the market or whatever) and its still like over 12× higher than it was 20 years ago.
The saddest part is that what was Saint Luigi's effect on price was prob the market expectation that one of the megacorps subsidiaries might miss their claim-denial goals to keep up appearances & marketing.
Thats why I'm saying its the shareholders/capitalism that kills people, CEOs are just dogs with white collars that execute ~~people~~ business for their masters to appease the ever hungry money gods.
Information like this is staggering when it hits you right in the face. And yet, millions of everyday people still empathize with billionaires and giant corporations as if they're just the guy next door on his way to work with his lunchbox, just tryin' to keep his pickup runnin'.
