Welcome to Cooperman-ville

Every hospital needs a 100 million dollars.  It’s just a matter of how badly it’s needed   

drummerboy said:

on top of it all, Barnabas doesn't even need the money. So what exactly was the point of his contribution, other than renaming the hospital 


Out of curiousity, does anyone know if the gift was conditioned on renaming the hospital?  Maybe the hospital suggested the renaming upon learning of the intent.


DanDietrich said:

drummerboy said:

on top of it all, Barnabas doesn't even need the money. So what exactly was the point of his contribution, other than renaming the hospital?

you are simply obtuse if you can't figure any of this out.  I know you like to argue, and post in every single thread, but really you are making yourself look ignorant beyond measure in this thread of yours.

sorry, what is it that I can't figure out?


Steve said:

Out of curiousity, does anyone know if the gift was conditioned on renaming the hospital? Maybe the hospital suggested the renaming upon learning of the intent.

I wondered the same thing but decided the question was moot, because if the hospital made the suggestion, then it was Cooperman’s obligation to disabuse Barnabas of its aggrandizing impulses by declining.


Steve said:

Out of curiousity, does anyone know if the gift was conditioned on renaming the hospital?  Maybe the hospital suggested the renaming upon learning of the intent.

I don't know. Does it really matter?  Should Carnegie Mellon have refused David Tepper's  $67 million donation because Tepper wanted the business school to be named after him?  (He was an alumnus and some will find that to be a difference.) 

Tepper is a Pittsburgh native, which brings to mind all of the wonderful contributions made by Andrew Carnegie, who was the leading philanthropist of his time and has his name on many institutions. https://library.columbia.edu/libraries/rbml/units/carnegie/andrew.html


There’s another issue most people are unaware of is unpaid hospital bills. Literally millions of dollars go uncollected. Could it be that these donations help to offset patient debt? I know Catholic charities helped with that. Who pays the bill for the patient who has no social security card? I think if we didn’t have people donating money most hospitals would close. I know Beth Israel in Newark would be closed down if not for donations. I was involved with the heart program run by the rotary club, and the surgeons would donate their time. Rotary would donate the monies raised from the ‘affair of the heart’ dance. 
I don’t think someone can give millions to have their names on the hospital entrance. Did Robert Wood Johnson merging with saint barnabas make it better? Merging with trinitas and Clara Maas? I think so. They are still allowed to operate as Catholic hospitals. Beth Israel is now under RWJ also. Looks like all major hospitals in New Jersey will be under this umbrella. Correct me if I’m wrong or I missed something. 


I am thrilled to see the Cooperman family working hard to give away their hedge fund gains, and don't much care if they like having things named after them, as long as they are re-deploying their hedge fund fortune to the public good.  I think it is far better to praise them for public-minded philanthropy than to complain about the details. 

I'm also glad to see so much of the money deployed around here, where they lived (live?) for years. I'm mostly impressed by the range of charities he has supported (rather than choosing to own 15 homes, a giant yacht, or a stable of politicians).

Having said that, any institution that can get $100 million gifts from rich guys is less likely to get small gifts from me.  There are so many struggling important charities for me to support, so I mainly skip ones that are successful at fundraising among the financial elite (although I give a token annual gift to my alma mater, as they suck up money from financiers and start-up founders).


Jaytee said:

There’s another issue most people are unaware of is unpaid hospital bills. Literally millions of dollars go uncollected. Could it be that these donations help to offset patient debt? I know Catholic charities helped with that. Who pays the bill for the patient who has no social security card? I think if we didn’t have people donating money most hospitals would close. I know Beth Israel in Newark would be closed down if not for donations. I was involved with the heart program run by the rotary club, and the surgeons would donate their time. Rotary would donate the monies raised from the ‘affair of the heart’ dance. 
I don’t think someone can give millions to have their names on the hospital entrance. Did Robert Wood Johnson merging with saint barnabas make it better? Merging with trinitas and Clara Maas? I think so. They are still allowed to operate as Catholic hospitals. Beth Israel is now under RWJ also. Looks like all major hospitals in New Jersey will be under this umbrella. Correct me if I’m wrong or I missed something. 

re unpaid bills - it doesn't appear that any of the money will be used for that. I get a newsletter from Barnabas and they had an article about the contribution and when talking about where the money is going, it just mirrored what Cramer posted earlier.

of course, money is fungible, so a buck extra here means a buck extra there. Or it could anyway. Depends on that the accountants do I guess.

As for your second paragraph, I'm not quite getting you.


DaveSchmidt said:

Steve said:

Out of curiousity, does anyone know if the gift was conditioned on renaming the hospital? Maybe the hospital suggested the renaming upon learning of the intent.

I wondered the same thing but decided the question was moot, because if the hospital made the suggestion, then it was Cooperman’s obligation to disabuse Barnabas of its aggrandizing impulses by declining.

cramer said:

I don't know. Does it really matter?  Should Carnegie Mellon have refused David Tepper's  $67 million donation because Tepper wanted the business school to be named after him?  (He was an alumnus and some will find that to be a difference.) 

Tepper is a Pittsburgh native, which brings to mind all of the wonderful contributions made by Andrew Carnegie, who was the leading philanthropist of his time and has his name on many institutions. https://library.columbia.edu/libraries/rbml/units/carnegie/andrew.html

I think it absolutely matters.  Putting the name on it may lead to others, who want to be publicly recognized, donating substantial sums.  If he conditioned the gift on the naming, that's a bit self-aggrandizing and shouldn't be lauded.


at least it's not crypto.com hospital.  It's only a matter of time.


Steve said:

DaveSchmidt said:

Steve said:

Out of curiousity, does anyone know if the gift was conditioned on renaming the hospital? Maybe the hospital suggested the renaming upon learning of the intent.

I wondered the same thing but decided the question was moot, because if the hospital made the suggestion, then it was Cooperman’s obligation to disabuse Barnabas of its aggrandizing impulses by declining.

cramer said:

I don't know. Does it really matter?  Should Carnegie Mellon have refused David Tepper's  $67 million donation because Tepper wanted the business school to be named after him?  (He was an alumnus and some will find that to be a difference.) 

Tepper is a Pittsburgh native, which brings to mind all of the wonderful contributions made by Andrew Carnegie, who was the leading philanthropist of his time and has his name on many institutions. https://library.columbia.edu/libraries/rbml/units/carnegie/andrew.html

I think it absolutely matters.  Putting the name on it may lead to others, who want to be publicly recognized, donating substantial sums.  If he conditioned the gift on the naming, that's a bit self-aggrandizing and shouldn't be lauded.

"Speaking about his family’s latest contribution, Leon encouraged others to “follow [his] lead if they are able to do so,” stating that hospitals like SBMC “need and deserve the support of private citizens to ensure patients have access to excellent health care and the latest advancements in medical technology.”

https://www.tapinto.net/towns/livingston/sections/health-and-wellness/articles/saint-barnabas-hosts-ceremony-to-unveil-new-cooperman-barnabas-medical-center


I do not have a dog in this fight, by any means, but maybe it would help naysayers to look at it this way: Might there be lives saved as a result of this donation?


"After months of preparation, TCNJ (The College of New Jersey) will welcome its first group of Cooperman College Scholars to campus this summer. For nearly two dozen students, all rising high school seniors from Essex County, New Jersey, it will be a first taste of the TCNJ experience—but thanks to the new Cooperman program, surely not the last.

Leon and Toby Cooperman
Leon Cooperman and his wife, Toby, support academically talented, highly motivated, college-bound students with financial need who reside in Essex County, New Jersey.

Launched this year, the Cooperman College Scholars program has partnered with four select colleges and universities in New Jersey and Pennsylvania—including TCNJ—to help teens from Newark, Irvington, Orange, East Orange, and other Essex County high schools pursue higher education.

“We’re ecstatic to be working with them and so proud to be affiliated with Mr. Cooperman,” says Vice President of Enrollment Lisa Angeloni, referring to the program’s benefactor and namesake, Leon Cooperman. “He’s dedicated his wealth to really helping future generations, and TCNJ is all about helping the next generation succeed.”

The Cooperman College Scholars program, established earlier this year by the Leon and Toby Cooperman Family Foundation, is funded through a $25 million gift by Leon Cooperman to support academically talented, highly motivated, college-bound students with financial need who reside in Essex County, New Jersey, the longtime home of the Cooperman family. "

https://news.tcnj.edu/2015/04/24/tcnj-welcomes-cooperman-college-scholars/


"NEWARK, N.J. — A group of rising high school seniors stood in a circle at Rutgers University—Newark’s campus, playing an icebreaker. Not that they needed it. The group had been living on campus together for three weeks, and already felt like family.

“We all just mesh well together. It's like an ecosystem,” said Sideeq Waziri, 17, who dreams of becoming an inventor. “I think we all just have similar goals and aspirations.”

And if all goes according to plan, they will, thanks to Cooperman College Scholars, a program that supports a select number of motivated low-income students in Essex County, New Jersey, including Waziri and 76 others. They are the first cohort to benefit from hedge fund CEO and philanthropist Leon Cooperman’s $25 million investment in them."

https://www.usnews.com/news/articles/2015/10/01/can-25-million-get-500-poor-kids-to-and-through-college


cramer said:

"NEWARK, N.J. — A group of rising high school seniors stood in a circle at Rutgers University—Newark’s campus, playing an icebreaker. Not that they needed it. The group had been living on campus together for three weeks, and already felt like family.

“We all just mesh well together. It's like an ecosystem,” said Sideeq Waziri, 17, who dreams of becoming an inventor. “I think we all just have similar goals and aspirations.”

And if all goes according to plan, they will, thanks to Cooperman College Scholars, a program that supports a select number of motivated low-income students in Essex County, New Jersey, including Waziri and 76 others. They are the first cohort to benefit from hedge fund CEO and philanthropist Leon Cooperman’s $25 million investment in them."

https://www.usnews.com/news/articles/2015/10/01/can-25-million-get-500-poor-kids-to-and-through-college

a Jewish billionaire can try and give away all his money and still people will hate him. 


On the one hand, Cooperman has contributed heavily to Republican candidates, and gone on CNBC to rant about how unfair the billionaires tax would be to him and his family, for which I shed a tear.  On the other hand, he has joined the pledge to give away half of his money during his lifetime.  So, all in all, a mixed bag.  


Redfruit said:

a Jewish billionaire can try and give away all his money and still people will hate him. 

I mean, look at all the grief George Soros gets.


nohero said:

Redfruit said:

a Jewish billionaire can try and give away all his money and still people will hate him. 

I mean, look at all the grief George Soros gets.

agreed. 


This isn’t a new trend. MD Anderson cancer center is named for a dead businessman. Dana-Farber cancer center is named for a dead businessman and a dead doctor. I doubt anybody getting a bone marrow transplant gives much of a crap what the place is called. 


Jasmo said:

On the one hand, Cooperman has contributed heavily to Republican candidates, and gone on CNBC to rant about how unfair the billionaires tax would be to him and his family, for which I shed a tear.  On the other hand, he has joined the pledge to give away half of his money during his lifetime.  So, all in all, a mixed bag.  

Can you please find that interview?   I have never heard him suggest anything about the billionaire's tax being unfair to him and his family.    Would love to see that.


Looks like he had issues with the wealth tax:

As far as billionaires go, he doesn't sound so bad.


Yes he does.  And he has been consistent about it.  And I have never heard him talk about how unfair it would be to him and his family.    


sbenois said:

Yes he does.  And he has been consistent about it.  And I have never heard him talk about how unfair it would be to him and his family.    

That's because he simply doesn't believe in fairness.

https://www.huffpost.com/entry/leon-cooperman-twitter-jeers-fair-share_n_601327ddc5b653f644d21a24

Twitter Users Jeer Billionaire's Gripe About Not Paying 'Fair Share' Of Taxes

Leon Cooperman ranted on CNBC that the idea of a "fair share" is a "**** concept" that just attacks wealthy people.


What exactly should he be paying as his fair share?  


sbenois said:

What exactly should he be paying as his fair share?  

more.

a lot more.


Good then tell Senator Warren to change the laws.

Don't be pissed at him for her failures.


drummerboy said:

sbenois said:

What exactly should he be paying as his fair share?  

more.

a lot more.

He's more than willing to pay a lot more in income taxes. He has no problem with that.  His problem with the wealth tax is the implementation of it. He's referred to the large number of countries in Europe who have gotten rid of the wealth tax. 

"If a Wealth Tax is Such a Good Idea, Why Did Europe Kill Theirs?"

https://www.npr.org/sections/money/2019/02/26/698057356/if-a-wealth-tax-is-such-a-good-idea-why-did-europe-kill-theirs


The man may be a mixed bag but there's nothing mixed about 100 million bucks.  Take his money.  He'll die and pretty soon, like with all of these things, the name will simply be the name of the place and nobody will think of the benefactor.  


sbenois said

Good then tell Senator Warren to change the laws.

Don't be pissed at him for her failures.

ah, it's her failures.

not all those in Congress who oppose her.

got it.

meanwhile, Obama and Hitler?


The man is paying his taxes.  Go complain to everyone in Congress if you don't think he is paying his fair share.  

You seem to be pushing on the wrong end of the string.


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