I read $20 million, over $16 mil cash up front
Posted By: and the rest in Transcend stock. on 2009-09-03
In Reply to: Would have given everyone a nice fat bonus - me
In other words, serious dough. I'd think a wee bonus to us 500 galley slaves might be in order. Had many of us not been told ''MDI does not send work overseas, Dorothy would never do that'' when we were hired, I doubt we would feel so betrayed.
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I've learned that it is exactly that - a store front. Or maybe just a front. nm
,
And what is required to CASH IT !!!!
What does the accompanying letter with the check say. Anxious to know . . . surely could use my money now.
It is not petty cash to us...
my DH is obviously the one who has the six figure income, which has come from hard work by working for the same company for 24 years and being the best at what he does. Though we are blessed to have this income, we know that at anytime something can happen, so we don't have any debt other than the house and live within or below our means. You won't find a boat, RV, brand new cars, flat screen tv, etc here. Too many people trying to keep up with the Jones out there. As Dave Ramsey says, live like no one else so later on you can live like no one else.
It is not petty cash to us...
my DH is obviously the one who has the six figure income, which has come from hard work by working for the same company for 24 years and being the best at what he does. Though we are blessed to have this income, we know that at anytime something can happen, so we don't have any debt other than the house and live within or below our means. You won't find a boat, RV, brand new cars, flat screen tv, etc here. Too many people trying to keep up with the Jones out there. As Dave Ramsey says, live like no one else so later on you can live like no one else.
Not really "petty cash" sm
Honestly, my husband is the one making most of the money. He works 12 shifts and sometimes 14 hour shifts, rotating nights and days and any overtime offered, he takes it. So, making over 100K a year is very hard earned money with many time sacrifices.
Not everything is as rosey, as you seem to think, when you come across people making 100K + a year.
Another thing, our bills are just as high too.. and we ain't talking living in a big beautiful mansion of a house with BMWs in the driveway either. We are a middle class family, living in a middle class neighborhood with a middle class job, paying a mortgage and other bills just like everyone else.
Unfortunately, in our case, we started out in debt 20 years ago and are just starting to climb out of it slowly but surely. We finally were able to buy a decent house in a nicer neighborhood that is not crime ridden. So, I consider that good debt.
not if, like she said, it came out of petty cash -
key word petty, as in lower than required for reporting.
IC sounds strapped for cash sm
You should have been told before s/he gave you the work. Sounds like they are on a strict budget and can't pay you until they get paid, but they should have told you. Depending on how much you need the money/job, tell them you are sorry to hear but you assumed you would be receiving a weekly paycheck. Ask them to put it in writing that you will be paid and how much. Then, if you can't find anything else right away, do it until you can find other work. They shouldn't accept work they're not sure when they can pay you unless the discuss it with you first. Big issue, cash-strapped people everywhere. I don't think it's fair, but cash is king today and sometimes hospitals, etc., will wait 90 days - that's tough on everyone. She should be more strict with her own accounts and put 10 days payment or COD, otherwise s/he is going to have one nasty group (if any are left) working for her service. My heart goes out to you. I would never do this to anyone, would take it out of my grocery money if I had to, not fair to you.
can cash it but if bounces you lose
and may have to pay a bank penalty$. I think it can take 2 weeks to clear. I guess they don't have direct deposit? Ask. Google direct deposit procedures. They give info on how this goes about. If you do get the check Friday, call and ask if there are funds to cover it as you just cannot afford to pay for a bounced check.
I guess you could take them to labor board of your state. Guess you could take to small claims court for your state. Can google all this stuff.
Since she is talking about cash payments, sm
my next question would be whether this cash is being reported as income? Hmmmm?
You could probably make some nice cash if -
you transcribed all that doctor trash-talking, then offered to SELL IT BACK TO THEM in exchange for NOT publishing it, or handing it over to their department-head.
Heh. Heh-heh.
Unless you cash the checks on the bank they are written on, you
have to cash them against funds in your own account. That's how the banks cover their behinds on NSF checks.
LOL. That was funny. I like that petty cash thing :)
/
That's the attitude that keeps the suits rolling in cash.
=
Don't cash it at your bank; make the trip to THEIRS
THEIR account will be charged, not yours.
Thanks a million!
You're a dear. :)
A million thank you's for saying that
It's so refreshing to hear someone who stands behind the name anon to really believe in what they are saying. It gives you TONS of credibility. On behalf of the entire EDUCATED Mediscribes/Cardiscribes team (including the Indian employees, as you call them) thank you from the bottom of our hearts for sparing us the embarassment of being associated with you any longer.
Take the checks to the bank and cash them outright, don't deposit. nm
I had a similar situation with another MTSO a long time ago, and put up with it for months until I jumped to a major national. I also found out that the bouncy MTSO didn't file Social Security returns or pay my withheld taxes to the Feds. There ought to be major red flags for any MTSO who bounces checks or doesn't offer direct deposit; it could affect you in many other ways you are unaware of.
Yeah, and when the Indian cash cow dries up, they'll
.
I am a shadow of my former self - angry, irritable, and strapped for cash.
dd
That's about 17 million more than he's worth. nm
x
Thank you a million times over - sm
I thought I had simple questions but after all those posts, you'd think not! LOL!
I really appreciate your taking the time to answer my questions - so thankful! Have a lovely weekend :)
I just won a million dollars!
I found one on her computer! Now I can buy out Medquist and return it to pre-2006! No more ASR, no cesspool and each of you only will have one primary and a secondary and generous quarterly bonuses which you can actually GET! 
2 million lines
Exactly, that is what I asked and got some lame answer. No way should we be running out in the morning.
The $70 million powerball
That's a lot of money. $70 million with an estimated cash payout option of $37 million which means after taxes you bring home approx. $19 mil or so. Yeah, that's a lot of money.
I keep trying. Someone has to win it. It may as well be me!!! 
fatcat... you are one in a million.
I really do appreciate everything you have told me. There are so many people on this board so quick to judge and then every now and again you come across a genuine, quality person such as yourself.
I know my schedule is difficult to work with, but these companies never seem to give anyone a chance to explain them, not that it would really matter. They expect 1200 lines a day for full-time, but I have always done that in part-time hours (5 to 6).
To me, that is all that should matter. They want 1200, I will give them that, but I cannot be put on a schedule for 8 hours a day, 6 days a week.
I have only had 2 transcription jobs in 13 years, the most current one with the Q for over 11. I have always done well on testing, from what I am told my last test I took for a company was 99%.
I just don't understand how all of you girls can comit to working every Saturday or every Sunday.
Ok, I am done complaining. I am hitting the job search full force again. Thanks so much again for your kind words and thoughts. You are in my prayers.
PS... I am probably way older than your daughter, I am going to be 39 in May. :)
Thanks a million! I'll be back....
.
Wouldn't matter if they had a million MTs.
lol
Wouldn't do QA again for a million dollars. (sm)
Biggest challenge - keeping your sanity while having to fix crappy work over and over and over again while meeting impossible deadlines for really low pay. Believe me, if you can be an MT, you'd be better off financially and mentally. Oh, and no one is going to pay me a million dollars, so I feel confident in saying that. :) Why on earth would you want to transition to QA? Did someone tell you it's a step up??? Reevaluate that statement by searching the archives for commentary on QA problems. There was a long discussion on here a few weeks ago about it. Good luck to you. Choose wisely!
And the MILLION dollar question is...
Does Transtech get work from Dictaphone? Does Dictaphone have any control over their workload?
THAT is what this entire thing is supposedly about...
Hmmmm, I guess we'll find out when the court case is complete.
Transcend bought MDI for 16 million. sm
So I guess they have to make some of that money back. I am pretty discouraged too as I have heard absolutely nothing from Transcend about what my pay is going to be. Guess does not look too good right now since they cut pay for their existing employees. Never been able to get a straight answer about the range of what I will be making, so assuming that means it will be low.
and scoff all you want... my half million house says it all.
xx
Maybe one in a million MT's makes that but I still find it hard to believe.
It looks more common to me that people who do MT are at the doors of destitution. Just read these boards! We have people who can't even buy their kids Christmas gifts, we have people who have had their car repossessed, we have people in debt up to their eyeballs. Seems to me that's the norm by the amount of postings of that type.
Thanks a million times to all your kind posts!
I feel like I hit the jackpot. LOL. Now, I am exhausted from the stress of worry. It will be nice and I won't miss worrying for the rest of my career! :)
Thanks again.
Wasn't it something like 2 million lines a month? Just a
GYNORMOUS amount? That adds up to like supposedly 66,667 lines a DAY!! And there is no work? Where did it all go?
Transcend Services bought MDI for $16.2 million.
I didnt realize it was that much! No wonder they feel no loyalty to their old MT's! ,,,everybody has a price I guess.
The $16.2 million purchase price consists of $10.2 million in cash payable at closing (less any existing indebtedness assumed and plus or minus certain working capital and tax-related adjustments), $2.0 million in cash payable after receipt of interim financial statements and audited financial statements for the last two fiscal years, a $2.0 million note payable to the selling shareholder due one year after closing, and $2.0 million of Transcend common stock (119,940 shares). The initial cash portion of the purchase price is expected to be funded using a combination of cash on hand and up to $7.0 million in bank term debt.
Larry Gerdes, Chief Executive Officer of Transcend, said, MDI's strong presence in the mid-Atlantic region significantly expands Transcend's national footprint. We are confident that MDI's culture of excellence and total commitment to customers and employees will help ensure the success of this transaction. We look forward to working together to integrate our operations over the next several months.
I recognized that we needed a larger partner to achieve our long-term growth objectives, said MDI Chief Executive Officer Dorothy Fitzgerald. A critical concern for me was to find a partner that recognized MDI's potential and was committed to providing excellent customer service. I am convinced that Transcend is the best partner for MDI, its employees and customers.
Sue McGrogan, Transcend's President and Chief Operating Officer added, I have known Dorothy Fitzgerald for years. Like me, Dorothy is committed to outstanding customer service, which is reflected in her high customer retention rates. In her new role, Dorothy will be President of our MDI subsidiary. She will report to Leo Cooper, Executive Vice President of Sales and Marketing, in order to focus on driving future growth, particularly in the mid-Atlantic region.
http://localtechwire.com/business/local_tech_wire/news/blogpost/5878284/
Great News!! I was able to cash the check yesterday. I called the branch directly and they said-sm
right now it was good. I do live in another state but her bank was bought by a bank that is local to me. I went there as soon as I could get there and they cashed the check for me!!! She owes me another small check ($84 and change) which I still have not received. I was beginning to think that I was never going to see this $$ (the last time I was able to cash a check from her was back in January). I guess if I bug her enough I will get my other funds. I think she just wants me to go away which I will as soon as I get all the funds owed me. She also owes me a 1099 but I am not going to stress over that. I still have my records. Thanks all for your ideas.
I'll say! Wrote off $82 million as "goodwill impairment"
NM
With over 5 million hits per month to this site, it is quite cumbersome to just pick out the bad
posts, so the entire thread goes. Besides that, generally there are a LOT of posts within a thread that are inappropriate. Please don't think for a moment that I'm only referring to OSI. I am referring to ANY company. I am only asking that posters back up what they are saying with FACTS not innuendo.
Thanks a million!! I guess the spread sheet confused my eyes. :)
nm
I know this question is asked a million times but who is good to work for
anymore? I have 13 years experience and I work at a hospital part time but I know I can make more on production plus I need the flexibility because I have osteo in my back and other health problems that require me to kind of break it up if you know what I mean. I'd only like to work 4 to 6 hours a day, make a decent line rate, and have flexibility of having a span of time within which to get my lines done. I don't need benefits but do not like IC status; I prefer statutory. Any ideas?
They do tell you up front that they have a lot of ESL. At least they don't lie about it like mos
nm
I have it in front of me and it says
39 hours working 150 lph gets health insurance, 401K and PTO and soemthing called EAP (employee assistance plan-help with family situations?) 39 hours at 100 lph gets 401 K, PTO and EAP Part-time 24 hours with 100 lph gets 401K and PTO and EAP. 16 hours with 100 lph gets 401K, EAP. 8 hours with 100 lph gets 401K and EAP. You need a manual to understand this manual. hahaha. So you see how the lph plays into the benefits now, not just hours but lines per hour. you can work 39 hours and if you can't get 150 lph done you don't get health insurance.
LOL, I have always said I will die in front
x
I also ask up front if they do VR. sm
Haven't done it yet and I am not going to. I will get out of the business before I will do VR. There are still companies that dont do it and some of them I don't believe ever will.
So sorry about this, yes, they should have been up front with you about what was going on, but (sm)
the norm seems to be to keep quiet until everything is finalized, and then let the ball drop. They should have had the decency to at least make a phone call, that was a nasty way to treat someone. I would tell you to come with my company, but we have work shortages too, so I don't think it would help you. Good luck, again!
Look, if you want up-front responses SM
from people, you need to be more up-front about who you are, what company you are hiring for, etc.
That was kind of them to tell you up front
instead of trying to sugar coat it like some do.
Why not ask for this IN WRITING up front?... SM
However, most of what you get in writing from MTSOs is (have you ever read a rental lease drawn up by LL/mgmt?) almost always in THEIR favor, whether it's an IC contract or employee agreement. Ever notice how they hedge on where it comes to pay rate? Mine states only compensation.... on an agreed-upon rate. Still, you could probably negotiate items that are important to you and not negotiable, like in your case, no typing, specific pay rate, hours, schedules. If they refuse to state these in writing, don't count on being able to negotiate them later.
I was not told that up front . . .
that was the first excuse I got when asking about my check. I have been in this business a long time and this is the first and only time this has happened. Sometimes you can do everything right, but still get ripped off by unscrupulous people.
Perhaps sometimes, but so far these people have ALWAYS been up front with me. (sm)
I also have to admit that today I have had relatively few of those dictators that make you cringe, much less than what I usually get and I have to wonder if perhaps some people were not taking heed to the warning.
Be up front with the company.
I never had OP experience when I was with a hospital and was scared of them. When I went for a national job, I told the company I was lacking in OPs. When I felt a bit e comfortable with all the other acute care that I never had experience with (ophthamology, cancer, etc.), I asked to have a few ops downloaded to me to try them.
Now I don't turn down a single job and believe me, there are a few like the above I don't get too often, but when I do, I just take my time with them and try not to leave blanks. Sooner or later, they will all fall into place just like acute care; i.e., it will take a long time to get through the first few reports, but it's well worth it. I now like doing OPs and am happy when they download first in my queue.
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