Ouch! Kaiser Loses $399 Million!

The Oakland health care giant Kaiser Permanente took a serious beating in the stock market, according to the San Francisco Business Times. For the third quarter, the nonprofit lost $399 million, mostly in devalued investments. Reporter and steely-eyed mensch Chris Rauber suggests that Kaiser waited to disclose the grim numbers until the election, when the bad news would be all but ignored in the wave of Obama coverage. A Kaiser representative denied that the timing was anything but the product of the organization’s own auditing process.

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