Providence corporate officials have lost their way. They have abandoned the founding mission and core values in favor of amassing huge corporate profits. They are already twice as profitable as the health industry norms.
Rather than apply those funds in the community to recruit and retain skilled professionals directly serving the people, they extract money to the Renton-based managers for their million-dollar wages.
Founder Mother Joseph would be ashamed, even as they should be. The mission is no longer to serve the poor and vulnerable, but to make employees poorer and more vulnerable. Showing their corporate mercy, they invite employees to apply for charity care.
Providence has learned from the megabanks how to layer their corporations and conceal funds in corporate shells. We in the community should show our outrage by withholding donations to their foundation until they mend their ways.
We should also contact our elected officials encouraging them to remove the real estate tax exemption enjoyed by Providence. Those funds belong to our communities, not padding some manager’s bonus.