Retirement homes making big profits

I recently read where two highprofile retirement homes have made huge profits at the expense of the elderly.

One made $230 million profit in a year, the other owner proud of turning his initial $10,000 joint investment with a partner into a $400 million personal wealth.

Sure the latter had been generous with public charities, and knighted for doing so, but the elderly have very little choice when they reach this stage of their lives.

Yes, these homes are business ventures, but what they charge the elderly must be exorbitant and well above costs if in one year their profit is $230 million.

The elderly spend a lifetime saving for their retirement, only to have it stripped away by these big companies in the so-called business of providing care for the older generation.

The most annoying thing of all is that there are pamphlets stuffed in our newspapers every week saying how great these places are, but never a word as to what it will cost you.

Looking forward to a happy retirement, I think not.

FLORENCE STEVENSON