MI hospital defaults on bonds, discusses selloff

NORTH OAKLAND MEDICAL CENTER

The City of Pontiac is again being taken for a ride to the tune of millions of dollars and this scheme will also leave creditors who had loaned millions of dollars to the city for the new hospital, holding the bag!

For over two years, members of the management and a group of doctors have led the NOMC to the brink of bankruptcy by shutting down needed services, moving patients away to other hospitals, driving physicians away by mistreating them and spreading rumors about the poor care quality in spite of being a JCAHO approved hospital. Now the same group of doctors, have offered to buy the hospital worth millions of dollars for one dollar! Moreover they want the city that is already in financial trouble, to deal with the millions of dollars of debt! The 800 jobs would be reduced to 400 or less and the Union would be done away with. They claim that the hospital that was doing so poorly in the past two years in their hands will magically become profitable after they own it! On the other hand, they have stated that if they do not get the hospital for a dollar, they will walk away forcing their patients to follow.

Surprisingly several members of the City Council support this ‘deal’ and the members of the City Hospital Finance Committee such as Dr. Eugene Rogers or Miss Barclay who questioned this irresponsible scheme were thrown off the Committee overnight by our own former deputy Mayor Leon Jukowski who chairs the committee!

A group of investors lead by Dr. Nasir Iqbal (248 703 2450) came forth with a $15 Million commitment and offered to help turn the hospital around, pay all the dues to the city, pay all the creditors, ensure that all 800 jobs were secure and revitalize not only NOMC but also the community. He was asked to first put $250,000 in escrow to show good faith which he did. His proposal was still ignored by the city and the hospital in favor of the One dollar scheme. Dr. Iqbal brought an experienced hospital CEO who could turn the hospital around, many large physician groups who wanted to begin working at NOMC and several large investors who expressed their willingness to infuse cash to revitalize the hospital but to no avail.

This whole episode makes one wonder why our elected representatives would condone such an act if they were not being paid off as well?? We have silently stood by and watched our city get raped by greedy ‘insiders’. How long are going to just standby and do nothing?

Questions of Concerned Citizens of Pontiac