Related: Boston Medical
"BMC paid chief executive $3.5m on top of salary" by David Abel, Globe Staff | September 22, 2009
A year before Boston Medical Center reported its first loss in five years, the hospital paid its chief executive, Elaine Ullian, $3.5 million in deferred compensation on top of her $1.35 million salary and benefits, according to a recent filing with the state attorney general’s office.
It's called LOOTING!
Ullian, who announced her resignation this summer when her contract ends in January, received the additional compensation last year, a time when the hospital reported $56 million in profitable earnings.
It's called rats deserting a sinking ship.
But the hospital has said it expects to lose $38 million by the end of this fiscal year and projects it will lose an additional $175 million next fiscal year, which begins on Oct. 1, an 18 percent operating loss that is unusually large even in Massachusetts’ topsy-turvy hospital industry.
The additional compensation has raised concerns in the state attorney general’s office and the mayor’s office. “Our office is concerned about escalating executive compensation levels at our larger charitable institutions,’’ said Emily LaGrassa, a spokeswoman for the attorney general’s office, in a statement....
Pfft.
Hospital officials declined to say how much compensation Ullian has received this year....
Yeah, think of it as a "reward."
In a statement, Ted English, chairman of the hospital’s board of trustees, defended Ullian’s compensation, which was first reported by WCVB-TV.
Not the Glob? Sigh
He said it was set by a committee formed by the trustees that “consult[s] with independent compensation advisors.’’ “It is based on her performance evaluation and measurable goals that are reviewed annually,’’ English said.
How much healthcare would $3.5 million dollars buy, Bay-Stater?
