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Stanford Health Care-ValleyCare merger approved

Original post made on Apr 9, 2015

California Attorney General Kamala Harris Tuesday issued the final approval needed for Stanford Health Care to proceed with its acquisition of ValleyCare Health System and its medical center in Pleasanton.

Read the full story here Web Link posted Wednesday, April 8, 2015, 7:45 AM

Comments (13)

Posted by Bill Woodward
a resident of Ridgeview Commons
on Apr 9, 2015 at 11:23 am

VCHS merger Interesting, but upon completion of the merger how will affect present patient doctor relationship? How will it affect the doctors' relationship with the hospital?
ny Email-

Posted by Cholo
a resident of Livermore
on Apr 9, 2015 at 12:04 pm

I have no reason to believe that medical services will be anything but excellent.

Posted by Name hidden
a resident of Another Pleasanton neighborhood

on Apr 10, 2015 at 9:03 am

Due to repeated violations of our Terms of Use, comments from this poster are automatically removed. Why?

Posted by Where's Marcie?
a resident of Another Pleasanton neighborhood
on Apr 11, 2015 at 4:07 pm

It's a little inconceivable to me that an $80 million dollar debt can be run up without the ability to service it and no criminal wrongdoing has occurred. This is the usual scenario with public organizations - they are afraid of backlash and value the relative pittance raised through donations, Christmas Tree Lane, etc... and thus hide the criminal conduct. I would feel better if Kamala Harris would investigate how this large debt was amassed while Marcie Feit was pulling down a million dollar a year salary and constant praise from her hand picked board of directors.

Posted by Ask Cholo
a resident of Another Pleasanton neighborhood
on Apr 15, 2015 at 1:28 pm

Cholo - can you comment on whether you think this debt was amassed based on illegal conduct on the part of ValleyCare management including former CEO Marcie Feit? Thanks Cholo!

Posted by I will help cholo
a resident of Another Pleasanton neighborhood
on Apr 17, 2015 at 10:00 pm

The debt is from construction bonds to build the new wing.

Posted by Hey Not Cholo
a resident of Another Pleasanton neighborhood
on Apr 18, 2015 at 7:08 pm

Those bonds bonds to build the new wing are about $20 Million. The report of $80 million in debt came out of the blue about the time Marcie Feit "retired". Financial institutions don't loan money to organizations that don't have the ability to repay it. So how does Marcie Feit run up an $80 million dollar debt without the ability of the organization to repay it while pulling down a salary of $1 million a year for herself? It should be investigated and a full accounting given to the public.

Posted by Dick Tracy
a resident of Another Pleasanton neighborhood
on Apr 23, 2015 at 10:43 pm

Ok, the secret is out. It was actually all embezzled and sent to a secret bank account in the Cayman Islands.

Posted by corp memeber
a resident of Castlewood
on Apr 24, 2015 at 11:10 am

It's like I said about a year ago, when the changes started happening,
this is all about a couple of Valley Board memebers wanting to get on the Stanford board.
Now they can start getting paid. sounds like mini Clinton's in the making.
As a community, we should all insist that this does not happen,although we welcome Stanford, it's not right that the Valley members gain more because of the merger.

Posted by Corp member
a resident of Danville
on Apr 24, 2015 at 11:22 am

Just so we are clear ,Marcy never made a $1+ million dollar salary,
Her actual income was a matter of public record. She had one year that was over a million dollars, because she cashed out her retirment after 30+ years of work.
Her actual base salary was was under half of that. CEO pay is set by a team of current board members who hire independant consultants to see what the job should pay in comparison to her counterparts. Marcy's pay was always in the lower third,nataion wide for like hospitals, to think that she somehow set her own pay rate is stupid. The only criminal conduct that has taken place here is that the hospital has been forced to provide FREE Healthcare to people who say they cant pay or won't buy insurance. It really easy to rack up debt when your providing srevices for free. In addition, and debt/bonds that where run up had to first be approved by the board. Wait a minute, isn't the chairman a CPA? must not be a very good one. lol
I guess thats what we get when we let a CPA, Realtor, and a few rotary members run a hospital.

Posted by Thank You
a resident of Another Pleasanton neighborhood
on Apr 26, 2015 at 3:00 pm

Thank you for the info Dick Tracy. That makes sense since it is close to South Carolina where Marcie Feit now lives and ran ValleyCare from the last couple years of her tenure as CEO.

And thanks also Corps Member for explaining how Marcie Feit never earned more than $ 1 million a year except for the year(s) she earned more than $ 1 million.

Posted by ActiveMD
a resident of Pleasanton Meadows
on Apr 27, 2015 at 12:15 pm

OK,Here is how I see it,I'll dumb this down for those of you who went to public school, Marcie was the "CEO" that stands for "chief executive officer" her job was to manage the day to day operations, plan future growth, quality of care, compliance etc. There was a man by the name of Ken Jenson, he was "CFO" that stands for "chief financial officer". he was in charge of all things financinal, including budgets,debts,cash, salarys etc. he reported directly to the chairman of the board John Sensiba, who is also a CPA, and along with other board members have been treating their spouses to nice stays at the Ritz , paid for by Valley Care. So why all the concern about Marcie? lets start looking at who actually handeld the money, approved salarys etc. Also- to "thank you" she never earned over a million, she cashed out her retirment, big difference, Was her income off scale to what her counter parts made at other like hospitals? did she set her own pay? is there a big cash vault at Valley that she could just access for cash anytime she wanted?Did she rightfully accmulate a large retirment after working there for 40+ years? come on pull your head out, at least a little.

Posted by Thank You Active MD
a resident of Another Pleasanton neighborhood
on May 1, 2015 at 8:30 pm

Thank you Active MD for clearing that up and being so condescending! Since most Pleasanton families send their children to PUSD, you are doing a great job of advertising for San Ramon Regional and Kaiser! Who would want to show up sick at a hospital staffed by someone with your attitude? Or a hospital that is so inefficient they run up an $80 million debt that can't be explained or repayed. By the way, those $80 million stays at the Four Seasons must have really been something!

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