A community of 30,000 US Transcriptionist serving Medical Transcription Industry

That was NOT the email I have been hoping - to receive all day.

Posted: Mar 20, 2014

Ah well, we all knew it was coming. It is true though, lots of companies do Ch. 11 and come out better than before.

This is me hoping MM is one of them.

A chapt 11 BK is not the end of the world and may - actually put them in a stronger

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position when they come out the other end. The fact that they have a large customer base and positive cash flow is probably a huge plus. It would be nice if they were forced to take a look at those huge suit salaries and bonuses and something done there. When you see those amounts and then see the debt issue, it certainly does sting from our viewpoint since we're in the trenches allowing them to be a position to collect those salaries.

Who knows, maybe this will be the beginning of a positive future for MModal and all of us.

I seriously doubt there will ever be any kind of a - good future with MM unless one is a suit.

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.

Chap 11 restructuring will probably be done - Annie

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by taking more away from the "lowly workers" (us). I'd like to think otherwise, but that hasn't been the history with this company - even in their good times!!

This is the line - that scared me:

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"First and foremost, we expect to continue providing you with your usual pay and benefits throughout this process."

"Expect" being the operative word here. Oops, something unexpected came up!

India - not included*

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*M*Modal India will continue to conduct business as usual.
Employees based in India will continue to be paid and receive benefits in the ordinary course.*

They get "will" and we get "expect"

Expectations - BTDT

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Are they continuing to fund the 401K? It's just me, but I would be concerned about my retirement funds if my employer filed for Chapter 11.

After the retirement raids & bankruptcies in the past by other corps, I personally would - sm

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never trust a corporate employer with my money. I'll put my money in my own IRA, thank you very much ;)

They can't touch our 401k. That's OUR money. Doesn't even make sense. - All they can do is stop the 401k match. nm

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--

mmodal bankrruptcy - Phatty

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I always wondered why Vern Davenport and Amy Amick left. Spheris did the same thing after I was working for them for about 6 months (they were in trouble when I was hired), and Medquist, now MModal acquired them. I hope, too, that MModal comes out a better company for their transcriptionists and editors. This is hard work, to say the least, and the compensation now is very low for such hard, hard work.

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