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February 24, 2021, 5:47 PM
The columnist, a Los Angeles freelancer, is a former Detroit News business reporter who blogs at Starkman Approved.
By Eric Starkman
CEO John Fox
While Beaumont Health’s medical and custodial staff risked their lives and hundreds of hospital employees lost their jobs, CEO John Fox and his top managers appear poised to rake in big bonuses for leveraging the 2020 pandemic into a very good year financially for Michigan’s biggest hospital network.
The results make clear why Fox commands the loyalty of John Lewis, the retired Comerica banker who serves as Beaumont’s chairman and whose commands the company’s directors obediently follow. Beaumont in 2020 not only came within a smidgen of its ambitious four-percent operating profit margin, but the hospital company increased its cash and investment reserves by 54 percent to $3.5 billion. ....

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