Headline on WDRB of "Humana warns of tough times ahead for Medicare Advantage." Lots of RIFs, cuts, panic, as the never-ending perpetual five-alarm fire created by C-suite execs and VPs at Humana that everything is just on the verge of going under per usual.
Then you actually read the facts embedded in the warnings:
"The company on Wednesday reported results for the January – March quarter that exceeded Wall Street estimates .. Humana’s net income of $1 billion was down from $1.6 billion during the same period in 2023."
Got it. Humana made $1 billion dollars in three months, which 99.99999% of the companies in the world would dream of, heavily subsidized by the US taxpayer. But it was lower than the 1.6 billion made last year, so five alarm fire.
Add this to the panic of downsizing to be bought by Aetna - which ended up with Humana $1 billion dollars richer. Or the panic of the financial ACA penalty they used as justification for cuts - which was rescinded in the end. Or the giant corporate tax cuts by Trump which, well more money for the execs, VPs, and rich shareholders within Blackrock.
Here's a headline I would wish for one day: "Exploitive health care company that leeches off of taxpayers for corporate welfare sends god-like amounts of compensation to self-aggrandizing execs, VPs, and rich shareholders that sit on Zoom calls and read Powerpoints seen for what it is by vast majority of Americans."
Oh well, time for another weekly CEO blog post about how he had a rough week sitting in a catered DC conference room making decisions for others with trite motivational prose thrown in.