Viewing a single comment thread. View all comments

PierogiPowered t1_ixmb8cj wrote

  1. they only made $200 million dollars of profit rather than closer to a billion. They shouldn’t be making any profit.

  2. They have around $10 billion dollars they use for investing. Checking Wikipedia, that’s larger than the combined endowments of all the Pittsburgh universities combined.

22

fangboner t1_ixn57e5 wrote

Your second point is what angers me. A health system, and almost all businessess shouldn’t be invested in the stock market. If they have so much extra capital that they have to spend it somewhere they should be investing in their personnel, their facilities and improving care.

17

pittbiomed t1_ixoqp5o wrote

You haven’t seen the entire new hospital they are building next to Mercy ? Or have you missed the 2 new hospital they are building where the old Childrens’s used to be? Cmon now , be reasonable

2

fangboner t1_ixp00mf wrote

“Investment losses have been common across the country due to a bearish stock market, and UPMC has not been immune to those trends. In the first nine months of this year, UPMC reported more than $1.2 billion in losses from investing and financial services.”

1

pAul2437 t1_ixnc355 wrote

Now do colleges.

Those funds held by upmc are donor restricted

−2

[deleted] t1_ixniq7q wrote

[deleted]

−3

fangboner t1_ixozwzt wrote

Then what exactly does this paragraph mean?

Investment losses have been common across the country due to a bearish stock market, and “UPMC has not been immune to those trends. In the first nine months of this year, UPMC reported more than $1.2 billion in losses from investing and financial services.”

3