The past few days haven’t been good to Bruce Rauner, especially when it comes to revelations about his former company, GTCR, and its relations to Trans Healthcare Inc. (THI). GTCR first invested $1 milllion in THI in 1998, and also became more heavily involved with the company while Rauner was on board. In fact, he was with GTCR until 2012 at which point he resigned in order to pursue his bid for governor.
When news came out that Rauner’s former company GTCR had been involved with THI, reporters and bloggers seized upon the story. Doug Ibendahl, for instance, wrote, “Republican gubernatorial candidate Bruce Rauner pledges to run Illinois government ‘like a business.’ In light of some disturbing facts which have come to light through multiple lawsuits involving Rauner’s former private equity firm, voters had better do their homework into what exactly the catchphrase ‘like a business’ means to Mr. Rauner.” Ibendahl provides devastating analysis of Rauner’s role at GTCR and how it worked with THI.
Another piece, published at the Tribune, covered the number of nursing home neglect lawsuits filed against THI. At one point, for example, there were claims of more than $2.3 billion against the company. These were cases that included neglect to wrongful death in nursing home facilities. Some personal attorneys accused the company off shifting assets around in order to avoid paying for damages. THI eventually filed for bankruptcy. Rauner has been on the defensive about the matter, too.
Apparently Rauner has developed a bullying tactic with reporters when it comes to this story. Thus far he has refused to answer questions about it. But those who wish to see the truth come out, such as the No-Rauner blogger, hope that they perceive to be churlish behavior will fail the green candidate and his refusal to come clean.
In an era when those who are perceived to be part of the 1% – and this is even true among Republican voters – if you have a track record for making money off of investments from a company that had dealings in the nursing home industry, something in and of itself that hints at shadiness, and then it turns out that said company was involved in wrongful deaths, abuse, and neglect, your candidacy is in for troubled times. There is no other way to spin it.
To make matters worse for Rauner, he is a rookie candidate. So, the only thing he can go by, when running, is his track record as a business man, and that is not looking too good. Far from it. This means that his opponents are going to go to town on this information, and it seems, even though he isn’t name in the legal documents against THI, he has a lot to lose when it comes to his reputation as a business man.
It also sounds like this story won’t be going away. Ibendahl indicated that there was more to come. So, stay tuned, folks.
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