- Financial Records Contradict Explanation That Home Was Financially Untenable -
LOS ANGELES, Feb. 9 /PRNewswire/ -- According to a story broken last night on TheWrap.Com, official explanations offered for the closing of the Motion Picture and Television Foundation's long-term care home do not add up, raising questions about the underlying reasons for displacing dozens of frail and elderly residents who expected to live out their lives at the facility.
The story by TheWrap.Com's Andrew Gumbel points to accounts filed with the IRS in November 2008, showing that MPTF revenues from Medi-Cal appear to have risen over the past two years, and providing no evidence of the $10 million shortfall described by MPTF executives. Further, the construction of an expensive new fitness facility on the MPTF's Woodland Hills property 18 months ago belies symptoms of financial straits, as do revenue inquiries conducted during recent contract negotiations with the United Healthcare Workers, according to sources interviewed by Gumbel.
Families of residents at the MPTF home are said to be working with a powerful Los Angeles law firm to sue the MPTF to maintain its long-term care facility.
For more information about the latest revelations and developments, or to read the whole story about the MPTF home, log on to TheWrap.Com, Hollywood's newest digest of entertainment news that matters. TheWrap.Com, which premiered on January 26, 2009, has provided an informed journalistic voice about the business of entertainment, with both news and feature coverage from some of the industry's top reporters.
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