A community of 30,000 US Transcriptionist serving Medical Transcription Industry
my question is why all the buyouts lately? - Ugly Betty
Posted: Nov 21, 2011
is it because of the economy?
Yes. The companies are scared and sell cheaply to the Q. sm - ex-MTSO
[ In Reply To ..]They lose a few accounts, have trouble making ends meet and the Q dangles a few million dollars in front of them. It seems like a lot at the time and they jump at it. Problem is, after paying taxes (15% or so) and then all debt including unpaid PTO and payroll and payroll taxes and possibly having to pay of a line of credit or small business loan. Factor in paying off equipment leases and office leases, and there is not a lot of money left. I sold my company to the Q 8 years ago for $2 million dollars. By the time I was done, I had a little over $600k left. I thought I was set. Not so. I had to pay health insurance until I turned 65 (was only 52 at the time) and still had bills to pay. We paid off our house, which is a modest-sized suburban tri-level and our cars. We put $50k in the bank for each of our 3 kids towards college and guess what? I had less than $20k left. I had to go to work for another transcription service within 3 months and have been ever since. It's not as perfect as it seems. The good news is that my house is paid for and my kids did not have to take out student loans. The bad news is that I had no dignity left and had to go crawling back to transcription, after I acted so high and mighty leaving.
You're a brave soul to come on here and admit that you - wannie
[ In Reply To ..]sold to MQ, especially with the way everyone feels about them, lol. At least it's anonymous on here.
Spheris/MedQ = SOROS. Been posting it for YEARS. - Analyst
[ In Reply To ..]Globalist and billionaire George Soros along with some other globalists like Warburg owned most of the stock and served on the board of Spheris. Now that Spheris and MedQ have merged, that means that Soros = MedQ.
I have been posting about Soros on this board for years, only to have to EXPLAIN to the ignorant here who he was/is (which is mindboggling).
Soros made his fortune bankrupting nations with his currency manipulations, much of it criminal. Look it up.
Soros was also a Jew who sold out his own people to the Nazis - I know who he is
[ In Reply To ..]He evicted Jewish people from their homes and farms for the Nazis. His mother was ashamed to be a Jew and so is he. If he could do that to his own people, what makes anyone think he wouldn't throw the MTs under the bus? He is a "one-worlder" and thinks there should be no borders for any countries. He is an evil man.
What are you talking about? Soros was born in 1930. - Nazis ruled1933-1943.
[ In Reply To ..]So when did Soros evict Jews from their homes and farms? Age 3? When he was in elementary school? Fact is, this, along with the rest of Beck's monstrous, pathologic anti-Soros diatribes, has been been debuked and denounced all over the place.
Multiple denouncements by Anti-Defamation League (ADL) members, starting with Abraham Foxman:
Glenn Beck's description of George Soros' actions during the Holocaust is completely inappropriate, offensive and over the top. For a political commentator or entertainer to have the audacity to say � inaccurately � that there's a Jewish boy sending Jews to death camps, as part of a broader assault on Mr. Soros, that's horrific.
While I, too, may disagree with many of Soros' views and analysis on the issues, to bring in this kind of innuendo about his past is unacceptable. To hold a young boy responsible for what was going on around him during the Holocaust as part of a larger effort to denigrate the man is repugnant.
The Holocaust was a horrific time, and many people had to make excruciating choices to ensure their survival. George Soros has been forthright about his childhood experiences and his family's history, and there the matter should rest.
The ADL's Abe Foxman is also a child survivor who lived only because his parents turned him over to his Catholic nanny.
"Look, I spit on Jews when I was six years old," Foxman told me. "Does that make me an anti-Semite?"
The issue of the Shoah "is so sensitive that I'm not even sure Holocaust survivors themselves are willing to make such judgments," Foxman went on "For a political commentator or entertainer to have the audacity to say, there's a Jewish boy sending Jews to death camps, that's horrific. It's totally off limits and over the top."
Beck's comments "were either out of total ignorance or total insensitivity," he said.
Elan Steinberg, vice president of the The American Gathering of Jewish Holocaust Survivors and Their Descendants, called the Beck accusations "monstrous; you don't make such accusations without proof, and I have seen no such proof."
Beck's charges, he said, "go to the heart of the instrumentalization and trivialization of the Holocaust." [...]
Simon Greer, president of the Jewish Funds for Justice, met with Fox News executives in July to discuss Beck's "constant and often inappropriate invocation of the Holocaust and Nazi Germany on the air." [...]
Yesterday's on-air comments by Beck "made a mockery of their professed understanding," Greer said in a statement. "In an effort to demonize a political opponent, Beck and Fox News scurrilously attacked George Soros, a prominent Jewish philanthropist and Holocaust survivor. No one who truly understands 'the sensitivity and sacred nature' of the Holocaust would deliberately and grotesquely mis-characterize the experience of a 13 year old Jew in Nazi-occupied Hungary whose father hid him with a non-Jewish family to keep him alive."
Soros was thirteen years old in March 1944 when Nazi Germany occupied Hungary.[15] Soros worked for the Jewish Council,[7] which had been established during the Nazi occupation of Hungary to forcibly carry out Nazi and Hungarian government anti-Jewish measures. Soros later described this time to writer Michael Lewis:
The Jewish Council asked the little kids to hand out the deportation notices. I was told to go to the Jewish Council. And there I was given these small slips of paper...It said report to the rabbi seminary at 9 a.m....And I was given this list of names. I took this piece of paper to my father. He instantly recognized it. This was a list of Hungarian Jewish lawyers. He said, "You deliver the slips of paper and tell the people that if they report they will be deported."
In 1944, at age 14, Soros lived with and posed as the godson of an employee of the Hungarian Ministry of Agriculture. On one occasion, the official was ordered to inventory the remaining contents of the estate of a wealthy Jewish family that had fled the country. Rather than leave the young George alone in the city, the official brought him along. The following year, Soros survived the Battle of Budapest, in which Soviet and German forces fought house-to-house through the city.
Sources:
Kaufman, Michael T., Soros: The Life and Times of a Messianic Billionaire, Alfred A. Knopf: 2002, p. 32-33
Michael Lewis, "The Speculator: What on earth is multibillionaire George Soros doing throwing wads of money around in Eastern Europe?", The New Republic, January 10, 1994.
Caught red-handed: Beck doctors video and lies about Soros quote
http://mediamatters.org/research/201011110032
Glenn Beck's Obsessive Compulsive Soros Twitch
http://www.thewashingtonnote.com/archives/2010/11/glenn_becks_obs/
Beck on Soros
http://www.guardian.co.uk/commentisfree/michaeltomasky/2010/nov/10/glenn-beck-george-soros
Your own source says he was 13, not 3. - Historian
[ In Reply To ..]It looks like you didn't even read what you copied and pasted here:
Soros was thirteen years old in March 1944 when Nazi Germany occupied Hungary.[15] Soros worked for the Jewish Council,[7] which had been established during the Nazi occupation of Hungary to forcibly carry out Nazi and Hungarian government anti-Jewish measures.
So the question you asked was already answered.
Foxman, ADL? Lefties. I'm not at all surprised they would defend Soros since they all belong to the same liberal "club."
I am no Beck fan. The other poster didn't quote Beck, yet you wasted time destroying him. That's the lame straw man tactic used by those with no point, and you are hereby called out for employing it.
Soros has repeatedly stated that his time spent under Nazi occupation was "the happiest time of my life." His job was to confiscate the land of the Jews in Hungary. He is all about GREED, so that makes total sense.
http://www.youtube.com/watch?v=RZ2U6Rl98PM
I tried to define rhetorical question for you before - Evidently, it did not register
[ In Reply To ..]Rhetorical questions do not require responses. They are posed to either provoke or advance debate. In this context, it was meant to ridicule the credibility of the preposterous assertion that "evicting Jews" was carried out by a child.
I notice you have not given any plausible counter-argument to this credibility issue. Instead, you have launched one of your typical discrediting sources and lib slamming rants. It is irrelevant whether the OP mentioned Beck. Beck is the most prominent spokesperson of the wingnut fringe's pathological obsession with Soros hating. Invoking him is metaphoric and alludes to his mind-numbed followers (a collective Beck entity) who spread his gospel far and wide over the blogosphere. I think that showcasing the purveyor-in-chief is an effective way to introduce some facts into the mix, especially when said purveyor has virtually zero credibility. No straw man need apply, at least not on this side of the fence.
The ADL is not defending Soros. They are debunking and denouncing Beck's lies, as so many others did in the links I provided. ADL members can speak with much more authority, based on their personal life experiences and cultural sensitivities, and credibility on anti-Semitism than you or Beck could ever hope to conceive. I could provide many more sources but, by the looks of your post, it would be a waste of my time to do so.
Now, let's C&P this little gem:
Soros has repeatedly stated that his time spent under Nazi occupation was "the happiest time of my life." His job was to confiscate the land of the Jews in Hungary. He is all about GREED, so that makes total sense.
Of course the years he spent growing up as a child with his parents would be remembered as the "happiest time" in his life. Thanks to the link you provided, the context of the statement is available, so we do not have to rely on Beck's cerebral conniptions. When speaking of that time, Soros said, "...but, when you are 14 years old, you don't believe that it (the Nazi occupation) can actually touch you. You have a belief in yourself, you have belief in your father."
This would lead any RATIONAL person to conclude that the Nazi occupation was both coincidental and incidental to him as a boy growing up in Hungary, virtually off his radar screen, and that his "happiness" derives from his youthful optimism ("belief in yourself" and his admiration for and faith in his father ("a belief in your father").
His alleged "job" has been addressed and belied in the OP and in the links I provided which you either chose not to read, or chose to ignore. Soros left for England at age 17, so only lived under the occupation for a few years, an occuption which he explicitly states "couldn't touch him"...hardly the attitude of Jewish anti-Semite (I am so sure) bent on making Jews suffer.
All about GREED? Really? Soros has contributed $8 billion toward human rights, public health and education. He is philanthropist who has bankrolled numerous dissident movements, especially in iron curtain countries, along with the anti-apartheid upheaval in South Africa, just to name a few. You just don't like his causes and can't stand it that not one single dollar of his billions will ever make it into the campaign coffers of your party-of-choice. Don't worry. The Koch brothers have your back.
Look, if you want to associate yourself with debunked lies constructed by Fox's notorious conspiracy-theorist-in-exile with for the sole purpose of enriching his own personal wealth, go for it. I simply wanted to post some realtime facts about this for the benefit of those who appreciate the beauty of truth.
Soros said it in his own words. - Historian
[ In Reply To ..]Once again, you post spin and attempt to rewrite not only history but definitions of terms.
That was not a rhetorical question and you know it. You misstated a fact, which I corrected you on. Had you taken any intro debate 101 class, you would know that conceding a point once your oppponet has proven you wrong is paramount to building credibility. And, you stand corrected AGAIN: This conversation does not rise to the level of debate, as in this case my "opponent" is not worthy.
The YT video of Geroge Soros in his own words says it all. His "donations" to charities -- for tax writeoff purposes -- do NOT change his historical track record.
The rest of my points fall on either deaf ears or someone who can't comprehend them. I am through wasting my time on you because you are dishonest.
Spheris, now MedQuist? - Me
[ In Reply To ..]If Soros is such a great guy as you claim, then Spheris would not have been run the way that it was -- a pro-globalist sweatshop.
Now that he is at the top of the MedQ pyramid, that says it all!
The proof is in the pudding.
buy-outs - old hand at this
[ In Reply To ..]I have been thinking about this a lot this evening, so much so I could not sleep (it is past my bed time) as a person who was hit with this today. I think the reason is obamacare. It would be nice if the CEO of one these companies who just sold out would come on line and give us the real reason for doing so.
buy-outs - not4me
[ In Reply To ..]We got a recorded message. MQ says it will be wonderful... blah, blah, blah. The reality of it is they are not wonderful. There is not enough work. They send it all to INDIA. Someone commented who worked for MQ to run for the hills....... I started running the minute I hung up the phone!!! They are INDIA-OWNED. The man who sold us did not even have a big enough pair to stand up and say what he did. Recorded a message to end our jobs. Great timing too.. KARMA...... oh, and I'll "Pray For You". Not, really, but the song seems appropriate for you.......
I'll take all the prayer I can get... - Jasper
[ In Reply To ..]I guess even from the guy who sold us down the tubes. I still can't believe it. I woke up this morning and the first thing i thought was 'did i dream that.'
But the reality is setting in.
The reality that my husband's remission failed and that I am waiting to find out if I have uterine cancer, and that I just began major dental work...
and that yesterday i was sold to the highest bidder.
I hope the guy who sold me has a great holiday season.
That is awful that they made a recording. - Ugly Betty
[ In Reply To ..]I hope it all works out for you and for the poster below. I have been at the Q for 14 years, started out as statutory. A friend of mine that went to business school with me got me reeled in but back then it was a lot different and bonuses were good. I still look for something other from time to time and then get scared in leaving. It seems every time there was a reason to look things ended up smoothing out for me. the 1 major thing though are the cuts in pay in ASR and the last one this last summer seemed to have really depressed me. I still cannot believe I stuck it out this long with all these changes that have been happening since 2006. I keep looking for the silver lining but the clouds are too thick. I am still thinking of going PT with another company and pt with MQ just to give me a step in a better direction. Once again good luck to you. If you stay at least its a pay check for now.
not4me - Old Pro
[ In Reply To ..]If you believe that ANYTHING MQ does will "be wonderful," then I have this beautiful bridge up in Northern California that I will sell you for $50 bucks.
mq - not4me
[ In Reply To ..]Oh, I am the one kicking and screaming! I don't believe a word of it. I have been through this before. Yes, how lucky can a person get to choose 2 companies that sell their employees. Well, like I told the owner. He can sell his company, but HE DID NOT SELL ME.. And I would believe it was to the lowest bidder the way these "people" are.
old hand at this - Old Pro
[ In Reply To ..]Personall, I am no fan of Obama (I'm a conservative) but I do not think it is fair to blame him for everything.
Who's blaming him for everything? - What?
[ In Reply To ..]Nobody has blamed Obama for "everything," so whom or what are you responding to?
Is it not fair to "blame" him for what he is directly responsible for? Or should we be blaming his predecessor for HIS mistakes, like so many "O" fans do?
Obamacare IS Obama's signature "watershed," and to pretend that it's not responsible for these adverse changes in health care is just ridiculous.
Bingo-Obamacare causing it - The Seer
[ In Reply To ..]They are working on a super database for all health records, so they can manage costs and dole out who lives and dies, and MQ's parent company is in on it. I constantly tell people their health records are going to India and nobody likes it. The good news is MTs will be Federal employees within 10 years and making 43% more than everybody else.
There won't be MTs in 10 years. - Analyst
[ In Reply To ..]Speech recognition and EHR editors, yes. Transcriptionists? No.
Also I wouldn't bank on that 43% ten years from now. You are projecting the CURRENT differential into the future without any basis for it. Wages across the board are expected to be LOWER -- for EVERYONE -- in 10 years.
Ever heard of tongue in cheek? - The Seer
[ In Reply To ..]Can see it coming already
Of course. Onus is on the transmitter. - Analyst
[ In Reply To ..]YOU are trying to convey a thought. This is the Internet, where there are no voice inflections, gestures, facial expressions, etc.
Since people are not mindreaders, as the transmitter of YOUR idea/thought, the onus is on YOU to convey a clear, concise message. Failure to do so falls on YOUR shoulders, not the recipients.
I am 100% in agreement with you on Obamacare.
Next time take more care with your text message -- like including indicators --- so that readers will recognize that you are making a "tongue in cheek" comment. And if you fail, act a like a grownup and admit it and move on instead of attacking the receiver(s).
Hard to say why - ex-EScriber
[ In Reply To ..]When I hired in I made sure to specifically ask "are there any plans to sell the company to MQ since you are using DQS and work on MQ accounts?" I was told "absolutely not!" In our conference call yesterday, the CEO stated that she had decided to sell after being in business for so long (she gave the years, but I don't remember) Actually don't remember much as after the news "sold to MQ" everything is a blur. I'm a nervous wreck, this is my 3rd company since I lost my job of 15 years after the account we had for 15 years POOF gone to India!!
You know what is really disappointing about ExecuScribe selling? - Happy MT Robin
[ In Reply To ..]The owner has been actively lobbying and working AGAINST off shoring. To hear that she now sold to a company who is owned out of India and has their publicly stated goal to ship at least 80% of their work to their Indian workers is so very, very disappointing.
Money talks - anon
[ In Reply To ..]You would be surprised at the miraculous ability that millions of dollars has to change even the highest morality and ethical fortitude.
Money. Can. Buy. ANYTHING.
It was really disappointing - Ex-Escriber
[ In Reply To ..]I thought I had finally found a company I could call "home". I had even told my team leader that in a phone call that week and she said "that makes me feel so good, you will always have a home here."
But as the following posting says "money talks". I own a small business of cabins, motels and campground rentals. I have to type as it the other business does not make enuf to pay the bills. The estimated value is about $400,000 and if someone offered me a million or more right now, I have to ask myself "would I say no?" I most likely would say "yes".
Any prood Execuscribe sold out - want
[ In Reply To ..]I have looked everywhere and can find no proof of them selling out to the Q. Does anyone have any concrete proof that this has happened?
They aren't going to leak selling plans to MTs. - Analyst
[ In Reply To ..]These negotiations go on behind the scenes, sometimes for months.
They are NOT going to divulge ANYTHING until the public announcement is ready for release, and even IF they were going to reveal it it wouldn't be to an MT.
You will NEVER, EVER get the TRUTH in response to a question like that.
Expect more buyouts by the end of the year - MT
[ In Reply To ..]This is the time of year most of the company sales happen so tax issues don't get carried over to the new year. Hold onto your hats, it's going to be a bumpy holiday season I'm afraid.
Ugly Betty - Old Pro
[ In Reply To ..]Not nearly so much the poor economy as PURE, UNADULTERATED GREED and lack of concern for anyone else. (MQ, are you listening?)
Consolidation/Centralization. - Historian
[ In Reply To ..]Look around, and you will see consolidation (of power) EVERYWHERE: not only in private corporations but government entities as well.
Centralization of power is how dictatorships are set up. If there is NO competition then of course you have a monopoly. There used to be LAWS against corporate monopolies in this country -- and there still are a few -- but they have been largely dismantled.
At the rate it's going, eventually there will be only ONE bank, ONE TV network, ONE radio network, etc.
Specific to transcription, since MedQuist is a Soros company we will probably eventually have two options as our employers as MTs: MedQuist, who has secured all the government contracts, or the government itself.
Historian - Old Pro
[ In Reply To ..]Bet you never thought you would hear a 70-old conservative independent say this, but if that is indeed the case, it is time for a revolution!
The word "MONOPOLY" comes to mind........ - I think its MQ"s big dream. (nm)
[ In Reply To ..]
That was included in my post. - Historian
[ In Reply To ..]Yes, if you had read my post that you replied to, monopolies were addressed within it.
Sheesh - I was trying to agree with you. If you feel - that way, then I rescind my agreement.
[ In Reply To ..]Pfffttt!
whew glad I dodged that one - peachey
[ In Reply To ..]I was offered a job at Execuscribe after I applied there when the Q took over the company I was working for (eTransplus). When she told me that their insurance would be changing after the first of the year and she wasn't sure yet what it was and if I would even be covered I decided not to take the job. I'm glad I'm now working at Transcend. Hopefully, Transcend is too big to allow the Q to buy them out. Hopefully.....
Me too - Historian
[ In Reply To ..]A few months ago when I was looking Execuscribe contacted me. Recently, when I began looking again, I put them on the list of potential companies.
I'm really glad that I read this board because I wouldn't want to work for them now.
Tell me, how do I FEEL? - Historian
[ In Reply To ..]I didn't even state an opinion, merely a fact. And you profess based upon that statement of fact to know how I feel?
You can "rescind your agreement" all you want; I couldn't care less. Regardless, it was already addressed in my post.
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