305, 311 (2013) (noting that bankruptcy reorganization is generally available to charitable entities); Douglas, supra note 58 (noting the recent bankruptcy filings of churches, the nonprofit healthcare chain, AHERF, and the National Benevolent Association); Skeel, Avoiding Moral Bankruptcy, supra note 82, at 1182 ("bankruptcy is not limited to the for-profit world").
The Fall of the House of AHERF: the Allegheny Bankruptcy, 19 Health Affairs 7, 8 (2000).
AHERF became synonymous with corporate greed and malfeasance, facilitated, in part, by an ineffective board of directors seemingly unable to reign in its power-hungry CEO.
After working at AHERF, I became skeptical of leaders considered "visionary" and capable of "thinking outside the box." The experience taught me to be wary of leaders with engaging personalities used to mask hot tempers.
Another study (Carpenter et al., 2003) analyzed access to bond insurance and the yields of insured hospital bonds before and after the AHERF
On July 21, 1998, AHERF, a Pennsylvania hospital chain, defaulted on $256 million in bonds that MBIA had guaranteed, the department said.
It borrowed money to cover the AHERF losses from three reinsurers--Munich Re, Axa Re Finance, and Zurich Re--and then disguised the loan payments as insurance premiums, misleading investors on the impact of the AHERF loss on MBINs business, said the department.
In particular, my experience working in the now defunct Allegheny Health Education and Research Foundation (AHERF
) taught me many lessons about managing career risk.
Aquino, (2000), "The Fall of the House of AHERF
: The Allegheny Bankruptcy," Health Affairs, Vol.
Consider, for example, the bankruptcy of the Pittsburgh-based Allegheny Health Education and Research Foundation (AHERF
) and the plight of its former CEO and president, Sherif Abdeihak, who pleaded guilty to misappropriating funds.
Among them I include the infamous Allegheny Health Education and Research Foundation (AHERF
), the largest bankruptcy in the history of health care.
Most industry analysts agree that the substantial financial losses attributed to the employed physician practices were a major contributor to the bankruptcy by the Allegheny Health and Education Research Foundation (AHERF
) in the Philadelphia area.