GoldStar pulling out of Galveston County

June 17, 2005

OK , you really need to lay off the hard stuff....I think you

you mean " million " and not " billion " and your figures are way off

from my annual Laidlaw statement!!!! Most of yor summary is right

except for the money part! you may want to re-read the web site ...

Bob

> > >

June 17, 2005

Wes,

No...we can't. Sorry, but EMS is a local function (I can agree on that) but how

each local area chooses to provide it should be up to that location. There are

a number of private EMS providers that are doing a great job all over the

country.

Additionally, I see two groups at fault here. First, the company for poor

financial management and oversight...secondly is the governmental entity that

didn't have bonding and procedures in place in case of failure...that is also

bad use of tax dollars.

Dudley

BTW, where are the studies to show that it is provided better (and don't quote

anecdotal stories of companies bailing on cities to show me) by a government?

(and yes...I do run a municipal EMS agency)

Re: Re: GoldStar pulling out of Galveston County

Is Goldstar 1 company or different companies with the same name? jamessolis100

wrote:Sounds like Goldstar hired the old Laidlaw/AMR

hachet men Bobby

Knowles,Ron Meyer and Jeff McCullum or maybe they need to!!!! They

got AMR back to a point where Laidlaw sold them for a great profit...

It all seems Dejavu of AMR in Port Arthur 7-8 years ago!!! Good luck

to the poor employees..

In , larry <larry_phillips28@y...>

wrote:

> Goldstar is pulling out of Brownwood tomorrow morning @ 9 am.

>

> Will M <will980_2000@y...> wrote:

>

> GoldStar pulling out of Galveston County

> By TJ Aulds

> The Daily News

>

> Published June 16, 2005

> Less than two years after signing on to provide

> ambulance services for most of the mainland, GoldStar

> EMS is pulling out.

>

> Company officials confirmed the imminent pullout

> following a meeting with employees Wednesday. Human

> resource director Patty Dinkle said the pullout would

> take place " sometime in the next 14 days. "

>

> The Beaumont-based company announced it was seeking

> reorganization bankruptcy protection in late April.

> The emergency medical provider is also under review by

> the U.S. Department of Justice over the Medicare

> billing practices of its Corpus Christi-area

> operations.

>

> Mike Sztary, director of operations for the

> Houston-Galveston region, said that the company

> employs 34 people in Galveston County.

>

> GoldStar is under contract to provide EMS service for

> Texas City, La Marque, Dickinson, San Leon, Tiki

> Island, Bacliff and Hitchcock.

>

> The loss of GoldStar EMS means the mainland

> communities are looking for the third ambulance

> service within two years. GoldStar took over in the

> fall of 2003 after Rural Metro pulled out of contract

> talks.

>

> That instability of service from private companies has

> local emergency officials considering alternatives,

> which may include folding an EMS service under area

> fire departments.

>

> " That's one of the options that would be on the table

> at some point I am sure, " said Texas City Fire Chief

> Gerald Grimm, who oversees emergency services

> operations for the city. " Right now our priority is

> making sure service goes uninterrupted. "

>

> Dickinson public safety director Kiplinger said

> he thought developing a public EMS service would be a

> topic for discussion.

>

> Grimm said he was fearful that GoldStar would actually

> shut its doors as soon as Friday, which is payday for

> its crews.

>

> " When I asked for a timetable, (Dinkle) was

> uncommitted to anything beyond saying it would be

> within those 14 days, " said Grimm. " We have a loosely

> woven contingency plan that has been in place (for

> about 13 years) that we will have at the ready. "

>

> That plan, said Grimm, includes the use of a rescue

> truck from the Texas City fire department that can

> double as a transport ambulance. If there were a need

> for additional units, the cities under contract with

> GoldStar would have the ability to " commandeer "

> GoldStar units " at a market lease rate, " said Grimm.

>

> The plan also would call for Santa Fe, which has its

> own EMS service, to assist on calls in the western

> portion of the county. League City, which also has a

> volunteer EMS service, would assist in the northern

> portions of the county that GoldStar was responsible

> for servicing.

>

> While Texas City has a full-time fire department where

> all its personnel are certified " in some capacity " as

> emergency medical technicians, the surrounding

> communities do not. Dickinson, La Marque, Hitchcock

> and the San Leon area communities are protected by

> volunteer services.

>

> Kiplinger said his city also was ready with a backup

> plan.

>

> Its immediate plan calls for them to borrow an

> ambulance from another jurisdiction and temporarily

> hire paramedics to run it, he said. This immediate

> plan will be replaced by a mid-term plan in about

> three days, he said.

>

> " There will not be any lapse in service. There won't

> be a five-minute or 10-minute period when there's not

> any ambulance rolling, " said Kiplinger.

>

> Officials from the various communities affected by

> GoldStar's pullout are scheduled to meet Friday to

> discuss short-term as well as long-term options.

>

> +++

>

> GoldStar EMS Timeline

>

> November 2003 ? Rural Metro announces it will not

> renegotiate EMS contracts for mainland communities in

> Galveston County.

>

> December 2003 ? GoldStar EMS wins contract to provide

> ambulance services for the bulk of the mainland.

>

> April 7, 2005 ? U.S. Department of Justice subpoenas

> GoldStar records in Corpus Christi as part of an

> investigation into the company's Medicare billing

> practices.

>

> April 27, 2005 ? GoldStar announces it has filed for

> Chapter 11 bankruptcy.

>

> June 14, 2005 ? GoldStar announces it is pulling out

> of Galveston County " within the next 14 days. "

>

> Save Mail Print Comment

>

> __________________________________________________

>

June 17, 2005

Wes,

No...we can't. Sorry, but EMS is a local function (I can agree on that) but how

each local area chooses to provide it should be up to that location. There are

a number of private EMS providers that are doing a great job all over the

country.

Additionally, I see two groups at fault here. First, the company for poor

financial management and oversight...secondly is the governmental entity that

didn't have bonding and procedures in place in case of failure...that is also

bad use of tax dollars.

Dudley

BTW, where are the studies to show that it is provided better (and don't quote

anecdotal stories of companies bailing on cities to show me) by a government?

(and yes...I do run a municipal EMS agency)

Re: Re: GoldStar pulling out of Galveston County

Is Goldstar 1 company or different companies with the same name? jamessolis100

wrote:Sounds like Goldstar hired the old Laidlaw/AMR

hachet men Bobby

Knowles,Ron Meyer and Jeff McCullum or maybe they need to!!!! They

got AMR back to a point where Laidlaw sold them for a great profit...

It all seems Dejavu of AMR in Port Arthur 7-8 years ago!!! Good luck

to the poor employees..

In , larry <larry_phillips28@y...>

wrote:

> Goldstar is pulling out of Brownwood tomorrow morning @ 9 am.

>

> Will M <will980_2000@y...> wrote:

>

> GoldStar pulling out of Galveston County

> By TJ Aulds

> The Daily News

>

> Published June 16, 2005

> Less than two years after signing on to provide

> ambulance services for most of the mainland, GoldStar

> EMS is pulling out.

>

> Company officials confirmed the imminent pullout

> following a meeting with employees Wednesday. Human

> resource director Patty Dinkle said the pullout would

> take place " sometime in the next 14 days. "

>

> The Beaumont-based company announced it was seeking

> reorganization bankruptcy protection in late April.

> The emergency medical provider is also under review by

> the U.S. Department of Justice over the Medicare

> billing practices of its Corpus Christi-area

> operations.

>

> Mike Sztary, director of operations for the

> Houston-Galveston region, said that the company

> employs 34 people in Galveston County.

>

> GoldStar is under contract to provide EMS service for

> Texas City, La Marque, Dickinson, San Leon, Tiki

> Island, Bacliff and Hitchcock.

>

> The loss of GoldStar EMS means the mainland

> communities are looking for the third ambulance

> service within two years. GoldStar took over in the

> fall of 2003 after Rural Metro pulled out of contract

> talks.

>

> That instability of service from private companies has

> local emergency officials considering alternatives,

> which may include folding an EMS service under area

> fire departments.

>

> " That's one of the options that would be on the table

> at some point I am sure, " said Texas City Fire Chief

> Gerald Grimm, who oversees emergency services

> operations for the city. " Right now our priority is

> making sure service goes uninterrupted. "

>

> Dickinson public safety director Kiplinger said

> he thought developing a public EMS service would be a

> topic for discussion.

>

> Grimm said he was fearful that GoldStar would actually

> shut its doors as soon as Friday, which is payday for

> its crews.

>

> " When I asked for a timetable, (Dinkle) was

> uncommitted to anything beyond saying it would be

> within those 14 days, " said Grimm. " We have a loosely

> woven contingency plan that has been in place (for

> about 13 years) that we will have at the ready. "

>

> That plan, said Grimm, includes the use of a rescue

> truck from the Texas City fire department that can

> double as a transport ambulance. If there were a need

> for additional units, the cities under contract with

> GoldStar would have the ability to " commandeer "

> GoldStar units " at a market lease rate, " said Grimm.

>

> The plan also would call for Santa Fe, which has its

> own EMS service, to assist on calls in the western

> portion of the county. League City, which also has a

> volunteer EMS service, would assist in the northern

> portions of the county that GoldStar was responsible

> for servicing.

>

> While Texas City has a full-time fire department where

> all its personnel are certified " in some capacity " as

> emergency medical technicians, the surrounding

> communities do not. Dickinson, La Marque, Hitchcock

> and the San Leon area communities are protected by

> volunteer services.

>

> Kiplinger said his city also was ready with a backup

> plan.

>

> Its immediate plan calls for them to borrow an

> ambulance from another jurisdiction and temporarily

> hire paramedics to run it, he said. This immediate

> plan will be replaced by a mid-term plan in about

> three days, he said.

>

> " There will not be any lapse in service. There won't

> be a five-minute or 10-minute period when there's not

> any ambulance rolling, " said Kiplinger.

>

> Officials from the various communities affected by

> GoldStar's pullout are scheduled to meet Friday to

> discuss short-term as well as long-term options.

>

> +++

>

> GoldStar EMS Timeline

>

> November 2003 ? Rural Metro announces it will not

> renegotiate EMS contracts for mainland communities in

> Galveston County.

>

> December 2003 ? GoldStar EMS wins contract to provide

> ambulance services for the bulk of the mainland.

>

> April 7, 2005 ? U.S. Department of Justice subpoenas

> GoldStar records in Corpus Christi as part of an

> investigation into the company's Medicare billing

> practices.

>

> April 27, 2005 ? GoldStar announces it has filed for

> Chapter 11 bankruptcy.

>

> June 14, 2005 ? GoldStar announces it is pulling out

> of Galveston County " within the next 14 days. "

>

> Save Mail Print Comment

>

> __________________________________________________

>

June 17, 2005

Wes,

No...we can't. Sorry, but EMS is a local function (I can agree on that) but how

each local area chooses to provide it should be up to that location. There are

a number of private EMS providers that are doing a great job all over the

country.

Additionally, I see two groups at fault here. First, the company for poor

financial management and oversight...secondly is the governmental entity that

didn't have bonding and procedures in place in case of failure...that is also

bad use of tax dollars.

Dudley

BTW, where are the studies to show that it is provided better (and don't quote

anecdotal stories of companies bailing on cities to show me) by a government?

(and yes...I do run a municipal EMS agency)

Re: Re: GoldStar pulling out of Galveston County

Is Goldstar 1 company or different companies with the same name? jamessolis100

wrote:Sounds like Goldstar hired the old Laidlaw/AMR

hachet men Bobby

Knowles,Ron Meyer and Jeff McCullum or maybe they need to!!!! They

got AMR back to a point where Laidlaw sold them for a great profit...

It all seems Dejavu of AMR in Port Arthur 7-8 years ago!!! Good luck

to the poor employees..

In , larry <larry_phillips28@y...>

wrote:

> Goldstar is pulling out of Brownwood tomorrow morning @ 9 am.

>

> Will M <will980_2000@y...> wrote:

>

> GoldStar pulling out of Galveston County

> By TJ Aulds

> The Daily News

>

> Published June 16, 2005

> Less than two years after signing on to provide

> ambulance services for most of the mainland, GoldStar

> EMS is pulling out.

>

> Company officials confirmed the imminent pullout

> following a meeting with employees Wednesday. Human

> resource director Patty Dinkle said the pullout would

> take place " sometime in the next 14 days. "

>

> The Beaumont-based company announced it was seeking

> reorganization bankruptcy protection in late April.

> The emergency medical provider is also under review by

> the U.S. Department of Justice over the Medicare

> billing practices of its Corpus Christi-area

> operations.

>

> Mike Sztary, director of operations for the

> Houston-Galveston region, said that the company

> employs 34 people in Galveston County.

>

> GoldStar is under contract to provide EMS service for

> Texas City, La Marque, Dickinson, San Leon, Tiki

> Island, Bacliff and Hitchcock.

>

> The loss of GoldStar EMS means the mainland

> communities are looking for the third ambulance

> service within two years. GoldStar took over in the

> fall of 2003 after Rural Metro pulled out of contract

> talks.

>

> That instability of service from private companies has

> local emergency officials considering alternatives,

> which may include folding an EMS service under area

> fire departments.

>

> " That's one of the options that would be on the table

> at some point I am sure, " said Texas City Fire Chief

> Gerald Grimm, who oversees emergency services

> operations for the city. " Right now our priority is

> making sure service goes uninterrupted. "

>

> Dickinson public safety director Kiplinger said

> he thought developing a public EMS service would be a

> topic for discussion.

>

> Grimm said he was fearful that GoldStar would actually

> shut its doors as soon as Friday, which is payday for

> its crews.

>

> " When I asked for a timetable, (Dinkle) was

> uncommitted to anything beyond saying it would be

> within those 14 days, " said Grimm. " We have a loosely

> woven contingency plan that has been in place (for

> about 13 years) that we will have at the ready. "

>

> That plan, said Grimm, includes the use of a rescue

> truck from the Texas City fire department that can

> double as a transport ambulance. If there were a need

> for additional units, the cities under contract with

> GoldStar would have the ability to " commandeer "

> GoldStar units " at a market lease rate, " said Grimm.

>

> The plan also would call for Santa Fe, which has its

> own EMS service, to assist on calls in the western

> portion of the county. League City, which also has a

> volunteer EMS service, would assist in the northern

> portions of the county that GoldStar was responsible

> for servicing.

>

> While Texas City has a full-time fire department where

> all its personnel are certified " in some capacity " as

> emergency medical technicians, the surrounding

> communities do not. Dickinson, La Marque, Hitchcock

> and the San Leon area communities are protected by

> volunteer services.

>

> Kiplinger said his city also was ready with a backup

> plan.

>

> Its immediate plan calls for them to borrow an

> ambulance from another jurisdiction and temporarily

> hire paramedics to run it, he said. This immediate

> plan will be replaced by a mid-term plan in about

> three days, he said.

>

> " There will not be any lapse in service. There won't

> be a five-minute or 10-minute period when there's not

> any ambulance rolling, " said Kiplinger.

>

> Officials from the various communities affected by

> GoldStar's pullout are scheduled to meet Friday to

> discuss short-term as well as long-term options.

>

> +++

>

> GoldStar EMS Timeline

>

> November 2003 ? Rural Metro announces it will not

> renegotiate EMS contracts for mainland communities in

> Galveston County.

>

> December 2003 ? GoldStar EMS wins contract to provide

> ambulance services for the bulk of the mainland.

>

> April 7, 2005 ? U.S. Department of Justice subpoenas

> GoldStar records in Corpus Christi as part of an

> investigation into the company's Medicare billing

> practices.

>

> April 27, 2005 ? GoldStar announces it has filed for

> Chapter 11 bankruptcy.

>

> June 14, 2005 ? GoldStar announces it is pulling out

> of Galveston County " within the next 14 days. "

>

> Save Mail Print Comment

>

> __________________________________________________

>

June 17, 2005

Happy Birthday!!!!!

Dudley

Re: Re: GoldStar pulling out of Galveston County

In a message dated 6/17/2005 11:28:49 A.M. Central Daylight Time,

ExLngHrn@... writes:

Folks -- NOW can we agree that 911 EMS response needs to be a government

function? (fire department, hospital district, or third-service provider)

Some of us might most of us won't take the time to think about the question

or care and for the most part the idea that " WE " agree on anything is

actually kind of funny.

I'm in a bit of a mood today B-Day's do that to me ;(

Louis N. Molino, Sr., CET

FF/NREMT-B/FSI/EMSI

LNMolino@...

(IFW Office)

(Cell Phone)

(IFW Fax)

" A Texan with a Jersey Attitude "

The comments contained in this E-mail are the opinions of the author and the

author alone. I in no way ever intend to speak for any person or

organization that I am in any way whatsoever involved or associated with unless

I

specifically state that I am doing so. Further this E-mail is intended only for

its

stated recipient and may contain private and or confidential materials

retransmission is strictly prohibited unless placed in the public domain by the

original author.

June 17, 2005

Happy Birthday!!!!!

Dudley

Re: Re: GoldStar pulling out of Galveston County

In a message dated 6/17/2005 11:28:49 A.M. Central Daylight Time,

ExLngHrn@... writes:

Folks -- NOW can we agree that 911 EMS response needs to be a government

function? (fire department, hospital district, or third-service provider)

Some of us might most of us won't take the time to think about the question

or care and for the most part the idea that " WE " agree on anything is

actually kind of funny.

I'm in a bit of a mood today B-Day's do that to me ;(

Louis N. Molino, Sr., CET

FF/NREMT-B/FSI/EMSI

LNMolino@...

(IFW Office)

(Cell Phone)

(IFW Fax)

" A Texan with a Jersey Attitude "

The comments contained in this E-mail are the opinions of the author and the

author alone. I in no way ever intend to speak for any person or

organization that I am in any way whatsoever involved or associated with unless

I

specifically state that I am doing so. Further this E-mail is intended only for

its

stated recipient and may contain private and or confidential materials

retransmission is strictly prohibited unless placed in the public domain by the

original author.

June 17, 2005

OK Bob, I apologize, I did mean million but I think the rest of the

stuff is right, came from their web site

Jimmy

> > > >

June 17, 2005

OK Bob, I apologize, I did mean million but I think the rest of the

stuff is right, came from their web site

Jimmy

> > > >

June 17, 2005

OK Bob, I apologize, I did mean million but I think the rest of the

stuff is right, came from their web site

Jimmy

> > > >

June 17, 2005

Going by memory so please add necessary corrections.

1997 - Med Trans (Laidlaw) was the largest EMS provider and AMR was the

second largest.

In 1997 Med Trans buys AMR for a boat load of money **( your figures of

4.6 BILLION with a B may be correct, I had 4 Billion, but who is

quibbling over 600 million)** creating an even larger ambulance

provider. The name to be used after the merger was AMR. I don't recall

which of the two companies held EmCare at the time of the merger but I

believe it was Laidlaw.

Shortly after Laidlaw purchased AMR, the bottom fell out of Laidlaw's

bucket so to speak. The value of the combined companies became a

fraction of what the combined value of the companies were prior to the

merger or at least a fraction of the purchase price of AMR alone.

Laidlaw seeks Federal bankruptcy protection in 2001.

In 2003 Laidlaw comes out of bankruptcy which was certainly impressive.

November or December 2004 Laidlaw announces the sell of AMR and EmCare

to Onex. The price tag was $820 million and an effective price of $775

MILLION with a M which was considerably less than Laidlaw paid for AMR

alone, much less the added value of the Med Trans EMS operations and

EmCare company's value.

I am confident that the collected values of those three companies at the

time of acquisition was a many times the final selling price to Onex.

After all, stockholders and stakeholders generally have long memories on

stocks that go bad.

In most any scenerio, if a company buys another and merges operations

with them and sells the combined company for 4% above the single company

purchase price 8 years later, I would not necessarily consider that

profitable.

If any of the above information is incorrect, I apologize in advance.

My memory is not as clear as it once was!

bkw

bobbyk_48 wrote:

>OK , you really need to lay off the hard stuff....I think you

>you mean " million " and not " billion " and your figures are way off

>from my annual Laidlaw statement!!!! Most of yor summary is right

>except for the money part! you may want to re-read the web site ...

>Bob

>

>>

>>>,

>>>I suspect you have been smoking crack!!!

>>>Quoting you and wondering if your numbers are wrong or are mine

>>> " They got AMR back to a point where Laidlaw sold them for a great

>>>

>>profit... "

>>

>>>How sure are you about that statement?

>>>bkw

>>>

>

June 17, 2005

Going by memory so please add necessary corrections.

1997 - Med Trans (Laidlaw) was the largest EMS provider and AMR was the

second largest.

In 1997 Med Trans buys AMR for a boat load of money **( your figures of

4.6 BILLION with a B may be correct, I had 4 Billion, but who is

quibbling over 600 million)** creating an even larger ambulance

provider. The name to be used after the merger was AMR. I don't recall

which of the two companies held EmCare at the time of the merger but I

believe it was Laidlaw.

Shortly after Laidlaw purchased AMR, the bottom fell out of Laidlaw's

bucket so to speak. The value of the combined companies became a

fraction of what the combined value of the companies were prior to the

merger or at least a fraction of the purchase price of AMR alone.

Laidlaw seeks Federal bankruptcy protection in 2001.

In 2003 Laidlaw comes out of bankruptcy which was certainly impressive.

November or December 2004 Laidlaw announces the sell of AMR and EmCare

to Onex. The price tag was $820 million and an effective price of $775

MILLION with a M which was considerably less than Laidlaw paid for AMR

alone, much less the added value of the Med Trans EMS operations and

EmCare company's value.

I am confident that the collected values of those three companies at the

time of acquisition was a many times the final selling price to Onex.

After all, stockholders and stakeholders generally have long memories on

stocks that go bad.

In most any scenerio, if a company buys another and merges operations

with them and sells the combined company for 4% above the single company

purchase price 8 years later, I would not necessarily consider that

profitable.

If any of the above information is incorrect, I apologize in advance.

My memory is not as clear as it once was!

bkw

bobbyk_48 wrote:

>OK , you really need to lay off the hard stuff....I think you

>you mean " million " and not " billion " and your figures are way off

>from my annual Laidlaw statement!!!! Most of yor summary is right

>except for the money part! you may want to re-read the web site ...

>Bob

>

>>

>>>,

>>>I suspect you have been smoking crack!!!

>>>Quoting you and wondering if your numbers are wrong or are mine

>>> " They got AMR back to a point where Laidlaw sold them for a great

>>>

>>profit... "

>>

>>>How sure are you about that statement?

>>>bkw

>>>

>

June 17, 2005

Going by memory so please add necessary corrections.

1997 - Med Trans (Laidlaw) was the largest EMS provider and AMR was the

second largest.

In 1997 Med Trans buys AMR for a boat load of money **( your figures of

4.6 BILLION with a B may be correct, I had 4 Billion, but who is

quibbling over 600 million)** creating an even larger ambulance

provider. The name to be used after the merger was AMR. I don't recall

which of the two companies held EmCare at the time of the merger but I

believe it was Laidlaw.

Shortly after Laidlaw purchased AMR, the bottom fell out of Laidlaw's

bucket so to speak. The value of the combined companies became a

fraction of what the combined value of the companies were prior to the

merger or at least a fraction of the purchase price of AMR alone.

Laidlaw seeks Federal bankruptcy protection in 2001.

In 2003 Laidlaw comes out of bankruptcy which was certainly impressive.

November or December 2004 Laidlaw announces the sell of AMR and EmCare

to Onex. The price tag was $820 million and an effective price of $775

MILLION with a M which was considerably less than Laidlaw paid for AMR

alone, much less the added value of the Med Trans EMS operations and

EmCare company's value.

I am confident that the collected values of those three companies at the

time of acquisition was a many times the final selling price to Onex.

After all, stockholders and stakeholders generally have long memories on

stocks that go bad.

In most any scenerio, if a company buys another and merges operations

with them and sells the combined company for 4% above the single company

purchase price 8 years later, I would not necessarily consider that

profitable.

If any of the above information is incorrect, I apologize in advance.

My memory is not as clear as it once was!

bkw

bobbyk_48 wrote:

>OK , you really need to lay off the hard stuff....I think you

>you mean " million " and not " billion " and your figures are way off

>from my annual Laidlaw statement!!!! Most of yor summary is right

>except for the money part! you may want to re-read the web site ...

>Bob

>

>>

>>>,

>>>I suspect you have been smoking crack!!!

>>>Quoting you and wondering if your numbers are wrong or are mine

>>> " They got AMR back to a point where Laidlaw sold them for a great

>>>

>>profit... "

>>

>>>How sure are you about that statement?

>>>bkw

>>>

>

June 17, 2005

Britton....my caps on the right side of the keyboard are still not

working.....you are right on by my recollection also. in addition, laidlaw /AMR

also owned/owns Greyhound and when i once talked to a Greyhound union rep, the

Greyhound employees were pitching a fit because so much of their profits were

going to the AMR transport division and the union was fighting to get that

stopped. i always assumed they were successful with that when AMR started

getting rid of some of the transportation companies that were so unprofitable.

in addition, when they talk about the sale price, not all of that is

CASH....some of the sale price is the value of the property/tangible assets the

new company is taking as part of the purchase.

ps....Brit, did you get the forms i sent you yesterday and today.

-------------- Original message from Britton Waldron :

--------------

Going by memory so please add necessary corrections.

1997 - Med Trans (Laidlaw) was the largest EMS provider and AMR was the

second largest.

In 1997 Med Trans buys AMR for a boat load of money **( your figures of

4.6 BILLION with a B may be correct, I had 4 Billion, but who is

quibbling over 600 million)** creating an even larger ambulance

provider. The name to be used after the merger was AMR. I don't recall

which of the two companies held EmCare at the time of the merger but I

believe it was Laidlaw.

Shortly after Laidlaw purchased AMR, the bottom fell out of Laidlaw's

bucket so to speak. The value of the combined companies became a

fraction of what the combined value of the companies were prior to the

merger or at least a fraction of the purchase price of AMR alone.

Laidlaw seeks Federal bankruptcy protection in 2001.

In 2003 Laidlaw comes out of bankruptcy which was certainly impressive.

November or December 2004 Laidlaw announces the sell of AMR and EmCare

to Onex. The price tag was $820 million and an effective price of $775

MILLION with a M which was considerably less than Laidlaw paid for AMR

alone, much less the added value of the Med Trans EMS operations and

EmCare company's value.

I am confident that the collected values of those three companies at the

time of acquisition was a many times the final selling price to Onex.

After all, stockholders and stakeholders generally have long memories on

stocks that go bad.

In most any scenerio, if a company buys another and merges operations

with them and sells the combined company for 4% above the single company

purchase price 8 years later, I would not necessarily consider that

profitable.

If any of the above information is incorrect, I apologize in advance.

My memory is not as clear as it once was!

bkw

bobbyk_48 wrote:

>OK , you really need to lay off the hard stuff....I think you

>you mean " million " and not " billion " and your figures are way off

>from my annual Laidlaw statement!!!! Most of yor summary is right

>except for the money part! you may want to re-read the web site ...

>Bob

>

>>

>>>,

>>>I suspect you have been smoking crack!!!

>>>Quoting you and wondering if your numbers are wrong or are mine

>>> " They got AMR back to a point where Laidlaw sold them for a great

>>>

>>profit... "

>>

>>>How sure are you about that statement?

>>>bkw

>>>

>

June 17, 2005