Commentary - 11/25/2007

WHY The High Cost of Health Care!
[or Why the New York Times Lies-By-Omission]

Today, the New York Times ran this editorial titled The High Cost of Health Care. The problem is that, because of who controls them, they can only point out the symptoms, not the cause. That's what I mean by lies-of-omission. The staff cannot report on its controllers without fear of losing their job. Certainly that fear is understandable. We all have to work to survive, somehow.

The problem is that they should not have to be afraid to document the reality. However, due to the tight control of the entire newspaper industry, if they lose their job in one place, they'll never find work anywhere else. There is no better example than Gary Webb, author of Dark Alliance, formerly of the San Jose Mercury News. Unfortunately, that sword is hung over every editor and journalist in the media. But that's another story.

We cannot solve the health care problem without getting to the root of the problem. This is proof that the root of the problem is the common ownership of most of our major corporations. For example, here are the Major Holders of the New York Times:


Symbol Name Of Corporation
NYT

Major
Holders
New York Times Co. (As of 30-Jun-2007) (As of 30-Jun-2006) Owns What Else?
Top 10 Institutional HoldersShares2007Value2006
Price (T.Rowe) Associates Inc20,129,66913.99%$511,293,59214.49%
Morgan Stanley10,474,1337.28%$266,042,9786.39%
Massachusetts Financial Services Co - Other9,515,7726.61%$241,700,6084.17%
FMR Corporation (Fidelity Management & Research Corp)9,489,5996.59%$241,035,8148.84%
Private Capital Management, Inc.7,639,8365.31%$194,051,83413.06%
Emigrant Bancorp, Inc. * and **6,700,0004.66%$170,180,000-.--%
Barclays Global Investors UK Holdings Ltd6,687,0574.65%$169,851,2473.16%
Northern Trust Corporation5,091,4153.54%$129,321,941-.--%
Arnhold & S. Bleichroder Advisers Inc. *4,957,0703.44%$125,909,5784.22%
Vanguard Group, Inc. (The)4,952,1213.44%$125,783,873-.--%
% of Shares Held by All Insider and 5% Owners:6%6%
Top 10 [3.4%] of 294 Institutional Holders Control59.51%61.14%
Percentage of Barclays and "Associates" Control41.38%46.35%
NOTE: T. Rowe Price manages three funds that control 8.37%.
Fidelity manages three funds that control 5.19%.
MFS manages a fund that controls 1.64%.
Barclays Ishares manages a fund the control 1.27%.
Therefore, the TOP 10 actually control 75.98%, and
Barclays/Associates control 52.66% of the New York Times.

As you can see above, a little over 3% of the shareholders control almost 76% of the New York Times. You want a journalist to go against that? Now notice below that many of the same Major Holders are involved at UnitedHealth, America's largest health care corporation.
Symbol Name Of Corporation
UNH

Major
Holders
Unitedhealth Group, Inc. (As of 30-Jun-2007) (As of 30-Jun-2006)
Top 10 Institutional HoldersShares2007Value2006
Legg Mason Inc.97,357,5637.35%$4,978,865,7717.03%
Marsico Capital Management, LLC96,156,1107.26%$4,917,423,4656.37%
Barclays Global Investors UK Holdings Ltd79,937,9006.03%$4,088,024,2063.29%
Capital Research And Management Company46,442,0003.51%$2,375,043,8802.96%
FMR Corporation (Fidelity Management & Research Corp)40,350,2063.05%$2,063,509,5348.11%
State Street Corporation39,436,4102.98%$2,016,778,0072.92%
Vanguard Group, Inc. (The)37,328,9832.82%$1,909,004,190-.--%
Wellington Management Company, LLP27,669,4302.09%$1,415,014,650-.--%
AXA (Paris, France)21,900,1031.65%$1,119,971,267-.--%
Davis Selected Advisers, LP19,822,2121.50%$1,013,707,921-.--%
% of Shares Held by All Insider and 5% Owners:0%-.--%
Top 10 [1.1%] of 924 Institutional Holders Control38.24%-.--%
Percentage of Barclays and "Associates" Control16.36%-.--%
NOTE: Capital Group manages two funds that control 1.78%.
Vanguard manages two funds that control 1.55%.
Legg Mason manages a fund that control 1.29%.
Therefore, the TOP 10 actually control 42.86%, and
Barclays/Associates control 17.65% of United Health.

Here, only 1% control almost 43% percent of United Health. That sure doesn't leave much control for the other 99% of the 924 institutional holders. See how control is centralized? These are the Major Holders that permit the top four executives to take salaries of $13.6 million. When bonuses, stock and salary is considered, UnitedHealth's CEO, William W. McGuire, M.D., its CEO, took away $124 million in 2005. His compensation in the five years 2001-2005 was $341 million. *

Therefore, with many of the same Major Holders, it is not in the interest of the New York Times to expose the truth about health care control. This is not just about New York Times or UnitedHealth. Here are other commentaries that show how centralized every facet of health care is under common ownership:

And here's the method the media uses to avoid reporting what's really going on. They simply report the dots, that is WHO, WHAT, WHERE and WHEN. Although they have a ring side seat to all the action, they are not permitted to connect those dots and explain the WHY. So here's who controls media: If people would see through the smoke and mirrors that sociopaths use to lie, steal and murder, we would be able to easily solve most of our major health care costs and our economic problems. See Identifying Psychopaths


2007 by Edward Ulysses Cate
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