Preparing for moving day Oct. 14
Website compares senior facilities
Several years ago, my 94-year-old mother lived in a large retirement community in Missouri. It was clean, expensive and beautiful, but when she moved to the care facility, I saw problems that went beyond what you can tell from visits: thefts, abuse by aides, withholding drugs, and every month we'd see large mistakes on her bills. The story in the Business section's tips to choose a senior community missed the most important information, which is available on Medicare.gov: search Nursing Home Compare. This site tracks results of government investigations of all nursing facilities in the United States, and rates safety, health and other issues. It is crucial to check this site to really learn which facilities to avoid and which are good.
Linda Hunt, St. Petersburg
JPMorgan's legal bills lead to $380 million loss | Oct. 12
CEO Dimon has earned exit papers
Why is chairman and CEO James Dimon of JPMorgan Chase still an employee of the business? Dimon used to be a darling of the financial press, but conditions have changed sharply and are sufficient to justify his immediate termination, though he will still be a wealthy man.
The bank just reported a significant loss, faces multiple lawsuits, including ones involving the U.S. Department of Justice and some states, has set aside $23 billion to cover legal costs and is known to have mishandled, as did other banks, residential mortgage processing. The extent of Dimon's personal knowledge of such misconduct is unclear, but as senior executive he has failed his employees, investors and shareholders. Dimon has admitted only that he made some blunders.
Worse, his continued employment makes the board of directors appear incapable of competent governance and appear to lack independent judgment, compels investors to resort to civil actions to recoup for damages to the bank, and offers a sense of impunity to other bankers similarly situated. But, of course lawyers, make out like bandits.
James Gillespie, St. Petersburg