Metrics Matter

In the misty land of adjusted and “community adjusted EBITDA” (thanks to The We Company for backing out the “building- and community-level operating expenses,”) we are reminded that to embellish is natural. We sometimes hide our worst selves and fill our dating profiles with dogs, filters, and a professed love of poetry. Corporate structures can be […]

Part 2: Can Healthcare Costs Move Stocks?

They say a great way to lose money is to open a restaurant. Costs, pricing pressures, and low barriers to entry tend to eat into your capital. Dad pun intended. Food, rent and labor inflation are stubborn and every extra dollar counts. All costs matter. Some restaurants make it work and build lasting brands with […]

Can Healthcare Savings Move Stocks?

The proverbial healthcare industry graveyards and nursing homes are full of companies with good intentions and lots of data. Promises to track our steps and make us healthy have done little. Predictive models tell us that we’re 10% more likely to have an adverse healthcare outcome in 5 years. Yawn. Healthcare exchanges and defined contributions […]

Time Frames and Adjusted EBITDA

Corporate earnings calls are dry but can be entertaining. There are the rare “boring boneheaded questions are not cool” Elon Musk type comments. There was a lively moment yesterday on FedEx’s earnings call when a Deutsche Bank analyst started the Q&A session by asking CEO Fred Smith about “balancing capital investments and returns,” given negative […]