Friday, May 1, 2009

NHC Claims Frivolous Lawsuits Hurt, But Sister Corp. Very in the Black

Posted By on Fri, May 1, 2009 at 12:04 PM

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National Health Investors, a real estate investment company whose business interests are inseparable from that of National HealthCare Corp., saw an increase in revenue in the first quarter of this year compared to last year, according to the Nashville Business Journal.

The timing is funny because it wasn't that long ago that NHC was pleading poverty to Sen. Jim Tracy, claiming frivolous lawsuits by out-of-state lawyers were a big drain on its coffers. The tort reform that would decrease punitive damages in some cases to preposterously low sums failed to make it out of committee last week. This is the selfsame company that the Scene reported earlier this month may have allowed an employee to engage in some allegedly nefarious conduct with old folks.

To be fair, NHI and NHC are separate companies, technically, but the Adams Family--Robert and Andy--are at the helm of each, and from what I hear their management is basically the same. So I'm calling shenanigans today on a company that, in the middle of a recession, reported earnings that are $1.6 million more this quarter than what they were last year. Yeah, they're hurting.

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