The Sunrise Senior Living saga gets uglier every day:
Accounting problems, suspiciously timed stock selling and a call for investigation.
-Corrupted Chamber of Commerce: Thomas Donahue by Matt Stoller at The Huffington Post.
"If it were possible to pick one person as the representative for American business in Washington, Thomas Donahue is that man. He is the President and CEO of the United States Chamber of Commerce, the most important business lobbying group in the country. He is also on the Board of Directors and the Audit Committee of Sunrise Senior Living, and was caught selling stock ahead of the revelations of accounting problems."
A project of the Service Employees International Union (SEIU) Capital Stewardship Program that owns a lot of Sunrise stock and wants an investigation into problems at the company.
-Sunrise Insider Sales Need Independent Probe, Pension Fund Says - by Mark Pittman at Bloomberg.com
"Five board members, including founder and chief executive Paul J. Klaassen and his wife, director Teresa M. Klaassen, sold $32 million in shares before a May 9 announcement that the company would review its accounting, pension fund spokesman Dan O'Sullivan said in a statement today that repeated claims made in last week's letter."
It is hard for me to even think about this; we're in the new Sunrise, and I'm hoping for the best. Its so disgusting how people can take advantage of people with Alzheimer's...as if the disease itself isn't bad enough!
Posted by: Karma | January 01, 2007 at 01:40 PM
I agree. You and I have learned things the hard way. Fixing the system is the ultimate goal but for now I want to alert people who may be considering assisted living to go into it with their eyes wide open. This is a business with little to no oversight and many clients unable to protect themselves. A VERY bad combination.
Posted by: AlzHub | January 02, 2007 at 02:39 PM
My 95 year old mother with Alzheimer's disease was put into Sunrise Senior Living in CA. She's in their dementia unit, 'Reminiscences.' My brother who is her conservator moved her from her home to Sunrise. She can afford to live in her home with around the clock caregivers which she has had since 2003. She had her attorney put in her trust documents that she wanted to remain in her home and not be sent to a retirement home. I am attempting to get her back to her home. A hearing is set in court for the middle of June and I need information about Sunrise. She does not belong there and I believe she has deteriorated and will continue to deteriorate if kept there. I have seen many instances of neglect at Sunrise of my mother and of others there. Please refer me to cases, incidents, articles, people or anything or anybody else which might help me show a judge why she needs to be out of there. Thanks for any help. Salle - again my email is sallesol@aol.com.
Posted by: salle soladay | May 19, 2008 at 03:19 PM