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Hospital CEO Scott North said St. John’s has been experiencing the same troubles as other health fewer patients, more of them failing to pay their bills and unfriendly credit “We’re not immune to the economics of the day righ t now,” North said. For now, the hospital expects to spendabou $7 million over the next year to sprucew up and provide equipment for its women’x care, cancer care and emergency departmentsd while adding a level to its one-deck parkin g garage. Roseville-based McGough Cos. is the lead That project will be funded by normalcash flow. The projecyt is a far cry fromthe $68 million that St.
John’s originally planned to spenxd to expandthe 320,000-square-foot facility by 33,000 square increasing the number of beds by 30 to a total of 214. “We’re trying to be good stewards ofour dollars,” Nortgh said. “I don’t want the communityy to think we’re not going to invesyt in St. John’s.” After officials at St. Paul-basedr considered declining patient admissions and a tightcredig market, they decided that taking out a $68 milliob bond issue wasn’t prudent right now, said Bob Gill, HealthEast’sd chief financial officer.
HealthEasrt also wanted to eventually expand its Woodwindsw Health Campusin Woodbury, but that project will have to too. “It didn’t take long to realizs it made good business sense to put everythingyon hold,” Gill said. “All of those things are very disappointinhfor us.” As the economic crisise ramped up in July and August, inpatienr admissions at St. John’s were 7.3 percentf lower than a year before, and admissions for the entirw HealthEast systemdropped 6.2 percent, Gill said.
Gill isn’gt sure why admissions are down, but hospital administratorse across the country have reported caseesof cash-strapped patients forgoing elective procedures such as knee replacementas and hernia surgery. Meanwhile, the bottojm has fallen out of the credit with once-respected financial insitutions going under and Congresws speeding through a $700 billion bailout to stave off disaster. Back in HealthEast was able to pay for its expansionat St. Joseph’as Hospital in St. Paul with a $105 milliomn bond issue at a 5.8 percengt fixed rate. A bond issue now could run as high as 9 Gill said.
Lawrence Massa, presidenty of the , said it’s been difficult recentlty forthe association’s larg members to borrow money. Even at , one of the largesr providers in the Twin executives recently expressed relief after securinga $521 million debt-refinancin g deal that reduced a skyrocketingh interest rate on some bonds. It also issued $225 millionn in new bonds to help pay for areplacemeny children’s hospital in Minneapoliss that’s under construction. Fairview CEO Mark Eustis said the financial-industr y collapse delayed the deals.
“Wer had to step back from that and wait until the credit market returned to some kindof stability,” he isn’t planning a bond issue for the expansiomn of its hospital in Stillwater. But CEO Jeff Robertson said the economic downtur n caused him to hold off for afew months, especiallyh after he started getting $30 millionb construction quotes for the first phase. The quotes were highet than the $25 million projection from in St. “We need a better sense moving forwarcd with what these numbers are goingvto be,” Robertson said.
Saturday, December 31, 2011
Thursday, December 29, 2011
Report: California to shed 1M jobs during recession - Phoenix Business Journal:
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The pace of private-sector job losses will slow over the next few but state and local government layoffeare beginning, the Business Forecastingv Center at the said in its latesy California and Metro Forecast released The forecast said California’s unemployment will peak at 12.3 percenft early next year, and will remain in double-digits until the end of 2011. The cented produces quarterly economic forecasts of the United California and ninemetro areas, from Sacramento to Fresnpo and the San Francisco Bay In the Sacramento unemployment will rise from 11.1 percent this year to peak at 11.4 percent next year, before dipping to 10.2 percent in 2011, the reporyt said.
Unemployment is expected to reac 9.2 percent in 2012. The Sacramento area is forecast to reboundf in the third quarterf ofnext year, when job growth will improvre to 0.8 percent. A “strong rebound is expected to take placer in professionaland business, and educational and health services sectors,” the report said of “Job growth is expected to have its first positive full year at 2.0 perceny in 2011.” Sacramento’s real personal meanwhile, will grow at a slow rate of 1.
5 percent next San Jose and San Francisco will be the firstt metro areas in Northern California to return to theire pre-recession employment levels, in the second and third quarterw of 2012, respectively, the study Sacramento and Merced will be amontg the last north state metro areas to regain peak in fourth-quarter 2013. Vallejo is last, with a returb expected in the second quarterof 2014. The Central Valley will be hard hit by the combinatio of recent state tax increasesd and massive expectedbudget cuts, the Business Forecasting Centet said.
“The state budgetf crisis is a dangerous aftershock to a regiobn still reeling from the foreclosure earthquake,” Jeff Michael, director of the Businessx Forecasting Center, said in a news The Central Valley is an economic disaster area, but most of its “economic shocks are cyclicapl in nature rather than permanent changes such as closed militart bases,” the news release said. • Construction continuex to lead job lossed inpercentage terms, declining anotherr 15 percent to 110,000 in 2009. Manufacturing will lead the declinein 2009, losingt 135,000 jobs this year. Retail sales will not return to theidr 2007 leveluntil 2011.
• New car and trucl sales will fallbelow 1.06 million in 2009, aftetr exceeding 2 million for most of the Sales will gradually increase as the economy reaching 1.46 million next year, and 1.73 milliobn in 2011. • Housingb starts hit bottom in 2009at 36,000 more than 80 percent below the levels seen in 2004 and 2005. Housinf starts will be back to 100,000 unitz in 2011, and exceed 150,0090 by 2013. • Health care is the only secto that will not shrinkthis year. The gain of 13,000 health care or 0.9 percent, is the slowest growth this • Personal income declines 0.8 percent in 2009.
• Nonfarnm payrolls will declineby 1,020,000 jobs statewide during the two-year • The California economy will finally hit bottom in the fourtu quarter of this year, and will begin a slow, multi-year recovery. It will be 2013 beforr many key economic indicators such as unemployment returm tohealthy levels. • The state’w recession should end in the last quarter of this but the job markey will remain weak through most ofnext
The pace of private-sector job losses will slow over the next few but state and local government layoffeare beginning, the Business Forecastingv Center at the said in its latesy California and Metro Forecast released The forecast said California’s unemployment will peak at 12.3 percenft early next year, and will remain in double-digits until the end of 2011. The cented produces quarterly economic forecasts of the United California and ninemetro areas, from Sacramento to Fresnpo and the San Francisco Bay In the Sacramento unemployment will rise from 11.1 percent this year to peak at 11.4 percent next year, before dipping to 10.2 percent in 2011, the reporyt said.
Unemployment is expected to reac 9.2 percent in 2012. The Sacramento area is forecast to reboundf in the third quarterf ofnext year, when job growth will improvre to 0.8 percent. A “strong rebound is expected to take placer in professionaland business, and educational and health services sectors,” the report said of “Job growth is expected to have its first positive full year at 2.0 perceny in 2011.” Sacramento’s real personal meanwhile, will grow at a slow rate of 1.
5 percent next San Jose and San Francisco will be the firstt metro areas in Northern California to return to theire pre-recession employment levels, in the second and third quarterw of 2012, respectively, the study Sacramento and Merced will be amontg the last north state metro areas to regain peak in fourth-quarter 2013. Vallejo is last, with a returb expected in the second quarterof 2014. The Central Valley will be hard hit by the combinatio of recent state tax increasesd and massive expectedbudget cuts, the Business Forecasting Centet said.
“The state budgetf crisis is a dangerous aftershock to a regiobn still reeling from the foreclosure earthquake,” Jeff Michael, director of the Businessx Forecasting Center, said in a news The Central Valley is an economic disaster area, but most of its “economic shocks are cyclicapl in nature rather than permanent changes such as closed militart bases,” the news release said. • Construction continuex to lead job lossed inpercentage terms, declining anotherr 15 percent to 110,000 in 2009. Manufacturing will lead the declinein 2009, losingt 135,000 jobs this year. Retail sales will not return to theidr 2007 leveluntil 2011.
• New car and trucl sales will fallbelow 1.06 million in 2009, aftetr exceeding 2 million for most of the Sales will gradually increase as the economy reaching 1.46 million next year, and 1.73 milliobn in 2011. • Housingb starts hit bottom in 2009at 36,000 more than 80 percent below the levels seen in 2004 and 2005. Housinf starts will be back to 100,000 unitz in 2011, and exceed 150,0090 by 2013. • Health care is the only secto that will not shrinkthis year. The gain of 13,000 health care or 0.9 percent, is the slowest growth this • Personal income declines 0.8 percent in 2009.
• Nonfarnm payrolls will declineby 1,020,000 jobs statewide during the two-year • The California economy will finally hit bottom in the fourtu quarter of this year, and will begin a slow, multi-year recovery. It will be 2013 beforr many key economic indicators such as unemployment returm tohealthy levels. • The state’w recession should end in the last quarter of this but the job markey will remain weak through most ofnext
Tuesday, December 27, 2011
Borobudur: place of pilgrimage - The Nation
ogarawo.wordpress.com
The Nation | Borobudur: place of pilgrimage The Nation Buddhists from Thailand, Tibet, China and other Asian countries make a point of including Borobudur in Java on any pilgrimage. The monument, which some call a temple, others a mandala or cosmic mountain, ... |
NBA Free Agents 2011: Los Angeles Clippers Sign Reggie Evans SB Nation The Clippers made if official Thursday afternoon, announcing that they had signed Reggie Evans to a one-year contract. Evans will earn the veteran's minimum of about $1.3 million. The 6-foot-8 Evans will be a backup and provide the Clippers with a ... Clippers sign Evans Reggie Evans Is Last Ha wk Standing Clippers sign free agent Reggie Evans |
Tuesday, December 20, 2011
Greater Kansas City LISC seeks applicants for redevelopment loans - Kansas City Business Journal:
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The loans are available through the Acquisition and PredevelopmengLoan Fund, which Greaterr Kansas City LISC started in 2007. The fund now has $7 millionj from three investors: and each provided $1 and , of which Greateer Kansas City LISC isa member, providecd $5 million. No loans have been made from the John Wood, senior program officer for Greater Kansase City LISC, said Tuesday. “We’ve had some interest in it, but the projectsd haven’t quite gelled,” he said. “The projectg falls through because the economy and the real estatee market has really hitus hard.
” This fund differzs from other funds administered by Greated Kansas City LISC because it focuses on such as land acquisition, engineering and architecturall services, and environmental studies, Wood said. Loanzs will be considered to suppor development in LISC NeighborhoodsNOW communities on both sides of thestatw line, the organization said in a The fund’s loans carry a 7 percent fixe interest rate, closing fees of as much as 1.5 percent and applicable legal fees.
Phase I environmenta l assessment and evidence of complianc with zoning and regulatory and land use requirements may be Since 1981, Greater Kansas City LISC has invested more than $106 milliom in urban-core neighborhoods on both sides of the stater line. The loans have leveraged $567.7 millio in total development.
The loans are available through the Acquisition and PredevelopmengLoan Fund, which Greaterr Kansas City LISC started in 2007. The fund now has $7 millionj from three investors: and each provided $1 and , of which Greateer Kansas City LISC isa member, providecd $5 million. No loans have been made from the John Wood, senior program officer for Greater Kansase City LISC, said Tuesday. “We’ve had some interest in it, but the projectsd haven’t quite gelled,” he said. “The projectg falls through because the economy and the real estatee market has really hitus hard.
” This fund differzs from other funds administered by Greated Kansas City LISC because it focuses on such as land acquisition, engineering and architecturall services, and environmental studies, Wood said. Loanzs will be considered to suppor development in LISC NeighborhoodsNOW communities on both sides of thestatw line, the organization said in a The fund’s loans carry a 7 percent fixe interest rate, closing fees of as much as 1.5 percent and applicable legal fees.
Phase I environmenta l assessment and evidence of complianc with zoning and regulatory and land use requirements may be Since 1981, Greater Kansas City LISC has invested more than $106 milliom in urban-core neighborhoods on both sides of the stater line. The loans have leveraged $567.7 millio in total development.
Sunday, December 18, 2011
Workers at two MillerCoors plants ratify new deals - Atlanta Business Chronicle:
loxezop.wordpress.com
and Fort Worth, have ratified new, three-year contracts. The agreements cove r more than 900 employees at the two breweries and provide wage and pension increases over the cours ofthe contracts. “Our membersx overwhelmingly ratified these contracts at MillerCoorsz because they provide stability fortheir families,” said Jack Cipriani, director of the Teamsters Brewery and Soft Drink Workerz Conference, which represents workers at the breweries. “For the next threed years, our members at MillerCoorxs know that their wagess and pension benefits will which is saying a lotin today’s economy.
” The contracts call for no healthg care cost increases for workers in the firstr year of the contract and only minor increasesx for the second and third years, according to the The new deal also guarantees that employee s who have retired or who will retire during the course of the three-year contracts won’t be required to pay healthg care premiums. “We valued all generations of our members, so we made sure that ther e were improvements for both active memberzs at MillerCoors and the retirees who had pavedr the way before with theier long yearsof service,” Ciprianji said. The Teamsters union represents 1,20p MillerCoors workers nationwide.
The union also representd workers at the MillerCoors breweryin Irwindale, Calif. Negotiationse for a new contract covering employees at the plant areunder way. MillerCoors is a join venture between MillerBrewing Co., Milwaukee, and Coorss Brewing Co., Golden, Colo., that launched in July 2008. MillerCoorsw operates a major brewery and regionao officeon Milwaukee’s west side. Workera at the Milwaukee brewery are represented by Breweru Workers Local 9 of the United AutoWorkersw union.
and Fort Worth, have ratified new, three-year contracts. The agreements cove r more than 900 employees at the two breweries and provide wage and pension increases over the cours ofthe contracts. “Our membersx overwhelmingly ratified these contracts at MillerCoorsz because they provide stability fortheir families,” said Jack Cipriani, director of the Teamsters Brewery and Soft Drink Workerz Conference, which represents workers at the breweries. “For the next threed years, our members at MillerCoorxs know that their wagess and pension benefits will which is saying a lotin today’s economy.
” The contracts call for no healthg care cost increases for workers in the firstr year of the contract and only minor increasesx for the second and third years, according to the The new deal also guarantees that employee s who have retired or who will retire during the course of the three-year contracts won’t be required to pay healthg care premiums. “We valued all generations of our members, so we made sure that ther e were improvements for both active memberzs at MillerCoors and the retirees who had pavedr the way before with theier long yearsof service,” Ciprianji said. The Teamsters union represents 1,20p MillerCoors workers nationwide.
The union also representd workers at the MillerCoors breweryin Irwindale, Calif. Negotiationse for a new contract covering employees at the plant areunder way. MillerCoors is a join venture between MillerBrewing Co., Milwaukee, and Coorss Brewing Co., Golden, Colo., that launched in July 2008. MillerCoorsw operates a major brewery and regionao officeon Milwaukee’s west side. Workera at the Milwaukee brewery are represented by Breweru Workers Local 9 of the United AutoWorkersw union.
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