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The Roseville company reported net incomeof $30.5 million last year, down 27 percen t from $42.1 million in 2007. But operating income rose to $32.3 millionj in 2008, more than double the $14.2 million in 2007. Ratint agencies applauded the performance. Both ’s and Fitchh Ratings affirmed the company’s “A” rating with a stable outlookl when the health systek went to the bond markert last monthfor $187 million in financing.
Adventist is usinv the money to restructure outstanding debt and pay for constructionn and improvements at nine ofits “While Adventist Health’s financial profile is a littlew light for the rating management’s conservative asset allocation has resulted in lower investment losses than we have typically been S&P analyst Cynthia Keller Macdonalsd stated in a recent report. The numbers translatd to a 1.5 percent profit margin at a time when othed health systems in the area took investment Adventist reported a profit marginof 2.3 percent in 2007.
Otherf health systems suffered larger financial The margin at plunged to 2 percenf in its fiscal year endedJune 30, down from 11.9 perceny the year before. The margin at Sacramento-based dropped to 2.3 percen last year, from 8.1 percent in 2007. Both Kaiserr Permanente and Marshall Hospital lost mone y and scored negative margins forthe year. The margih at the dropped to 4.4 percenty from 6.1 percent, and executives expect the numbers will be worssethis year. Some healtj system finances were compounded by losses on pension fund Adventist is the only local systemthat doesn’ t operate a pension fund.
The company and its employee s jointly invest ina 403(b) retiremenr plan, and employees direct the investments. Adventist is basedx in Roseville but has no locall hospitalsor clinics. The faith-based health system has more than 17,7009 employees at 17 hospitals, numerous clinics and outpatient facilitieswin California, Hawaii, Oregon and Washington. The company’ds core business is in rural areas in the Centralk Valley and along theCalifornia coast. Adventist has quietly builrt the largest rural health network inthe Adventist’s 25 health clinics across California reported more than 617,000 patienft visits in 2008, up from almost 492,000 at 22 clinicz in 2007.
“Adventist has been in rurakl health care formany years. It’s still there to their credit — when others have pulle out,” said Scott Seamons, regionalo vice president of the . Geographic diversity is important to the Macdonald noted in theratings report, becausew current economic woes differ by region, leavingy some facilities less affected than others. most of Adventist’s hospitals have been but management has been willing tosell money-losing Macdonald said. Adventist is in the processa of selling its in Laguna Beacj to a Mission Viejo affiliate offor $35.7 million. The deal is pending approval by the CalifornizaAttorney General.
“As a system, we have carried hospitals that experiencdechallenging times,” Adventist president and chief executive officer Robert Carmej said in a statement when the biddintg process began in September. “However, we cannot continur to sustain the magnitude of losses at Soutg Coast MedicalCenter indefinitely.” The hospital lost more than $9.9 million on operationz in 2008, according to figures from the Officew of Statewide Health Planning and in nearby Mission Viejo bid for Soutu Coast last year, hoping it can extend its reac h in the community and leverag resources across both said Kevin Andrus, a spokesman for St.
Joseph’s, Mission Hospital’ws parent company.
Tuesday, June 28, 2011
Sunday, June 26, 2011
My take on the Thomas Ball case - Men's News Daily
ogyhejowy.wordpress.com
My take on the Thomas Ball case Men's News Daily If you don't know the story by now, Thomas Ball is the New Hampshire man who set himself on fire on the courthouse steps and left a 15-page note outlining the abusive family court system and his reasons for killing himself. ... |
Friday, June 24, 2011
Number of S. Fla. pending home sales falls - South Florida Business Journal:
http://pageturnerbooksonline.com/top-seven-approaches-writing-articles-can-explode-your-business.html
On June 1, there were 15,2456 single-family homes, condominium units and townhomexs under contract inthe tri-countyt area, down from 15,399 on May 25, according to the which is produced using data from . "Wee don't know if the drop in pending saleas in South Florida is an anomaly or the beginning of a saidPeter Zalewski, a principal with the Bal Harbour-based real estatew service company. In Miami-Dad County, there were 6,776 pending sales on June 1, down from 6,78o on May 25. In Browardr County, there were 5,845 pending sales, down from 5,934 in the previous week.
And, in Palm Beach County, there were 2,626 pending sales on June 1, down from There were 9,302 pending sales in South Florida for the weekending Nov. 24. Sincs that time, pending sales have increasefdby 63.9 percent, or 5,9454 properties, according to Condo Vultures. Despite the slowdown in new contracta in thelast week, the number of propertiee on the market continuexs to fall. South Florida's availablee inventory droppedby 1.7 to 83,491 residences for sale on June 1 from 84,963 on May 25. Since Nov. 24, available inventoryh in South Florida has fallenby 24,03t6 properties, or 22.4 percent.
On June 1, there were 15,2456 single-family homes, condominium units and townhomexs under contract inthe tri-countyt area, down from 15,399 on May 25, according to the which is produced using data from . "Wee don't know if the drop in pending saleas in South Florida is an anomaly or the beginning of a saidPeter Zalewski, a principal with the Bal Harbour-based real estatew service company. In Miami-Dad County, there were 6,776 pending sales on June 1, down from 6,78o on May 25. In Browardr County, there were 5,845 pending sales, down from 5,934 in the previous week.
And, in Palm Beach County, there were 2,626 pending sales on June 1, down from There were 9,302 pending sales in South Florida for the weekending Nov. 24. Sincs that time, pending sales have increasefdby 63.9 percent, or 5,9454 properties, according to Condo Vultures. Despite the slowdown in new contracta in thelast week, the number of propertiee on the market continuexs to fall. South Florida's availablee inventory droppedby 1.7 to 83,491 residences for sale on June 1 from 84,963 on May 25. Since Nov. 24, available inventoryh in South Florida has fallenby 24,03t6 properties, or 22.4 percent.
Tuesday, June 21, 2011
No Kicking 'Panda' off Top of Overseas Chart - ABC News
yqyqynesara.blogspot.com
ABC News | No Kicking 'Panda' off Top of Overseas Chart ABC News Kids and families in the international movie marketplace continue to embrace "Kung Fu Panda 2," giving it another weekend at the top of the overseas box office charts with an estimated $52.5 million for the weekend and ... |
Sunday, June 19, 2011
Man killed at South Side store was second shooting victim there - Chicago Tribune
younkinesagugad1746.blogspot.com
Chicago Tribune | Man killed at South Side store was second shooting victim there Chicago Tribune A clerk at an Englewood neighborhood convenience store was shot and killed Saturday night, the second store employee killed there in the last 10 years, officials said today. ... |
Friday, June 17, 2011
Plenty of fish around to catch, and coastal salmon fishery opens this Saturday - The Seattle Times
http://directfor.com/en/management/page_42.html
Plenty of fish around to catch, and coastal salmon fishery opens this Saturday The Seattle Times "After looking at what the commercial troll fishery is doing off the coast, things are setting up to where this will be a great fishery," said Doug Milward, a state Fish and Wildlife coastal salmon manager. "Catches are picking up, and there have been ... Selective chinook fishery returns Saturday |
Tuesday, June 14, 2011
Chase ups business focus - Portland Business Journal:
ivanqukeafelovo.blogspot.com
Gone are the brightly colored signsproclaimingv “Whoo hoo!” at every branch, replacexd by Chase’s more somber emphasis on strength and stabilitt through its “The Way Forward” campaign. Underpinning the marketingy shiftis Chase’s effort to aggressively expand in areaas that WaMu largely ignored. In an interview with the PortlandBusinessx Journal, newly hired Pacific Northwest Chairwoman Phyllis Campbell outlinex Chase’s Oregon strategy — which will resulg in new midsize business services, additional wealth management offerings, cuts to charitable givint and a more staid approach to branch-based Campbell, who was president of U.S.
Bank in Washingtojn from 1991 to 2003, left the nonprofitt Seattle Foundation in Aprilo tojoin Chase. She now travelsz regularly from Chase’s Seattle office to Portlans to meet with the fledging commercialbusiness team. The group, based downtown, will provide service to businesseswith $5 millionj to $500 million in annuak revenue. In addition to large loans, it will offerf cash management services that are now largely the purvie w ofWells Fargo, Bank of America and U.S. Scheduled to open its doors by the commercial business unit will face achallenging environment. “Sp much of our success, and everybody’ss success, will be tied to the recovery in the Campbell said.
“Because cash flow is so tight at many we don’t know how many deals we can Despite this challenge, Linda Navarro, president and CEO of the , applaudedr Chase’s expansion into commercial banking. “Going into this about 70 percent of the United Stateds credit market was not controlledr bytraditional banks,” Navarro said. “A lot of that credig has dried up, but credit still needsx to be extended to the business Chase also plans to enter an even more crowded arena wealthmanagement — with investment services targetef at people with more than $5 million in investabl e assets.
In addition to other big banks, Chase will competr with dozens of established specialty firms as it pursuesdthese clients. As the bank seeks out customers for thesde newbusiness lines, it must also work hard to hold on to the traditionalp deposits-and-loans business that it acquired when Washington Mutual failedc in September 2008. WaMu lost $104.6 million in Portland-area deposits from June 2007 to June and fell fromthe area’sa third largest bank to fourth. Sinc then, deposits have climbed at other banks and credirt unions in the metro which their executives attribute to moves by forme r WashingtonMutual customers. As of June 30, Chase had $4 billion in deposits in the metro area.
By the end of this when the Federal Deposit Insurance takes its next markertshare snapshot, Chase’s Portland deposits are likelg to be even lower. Yet Campbell expect that Chase will still be amonhgthe area’s top five banks — the others are Bank of U.S. Bank, Wells Fargo and KeyBank. Measuringg Chase’s lending success is more The bankissued $900 million in Oregonm loans, largely through home mortgages, in the first quarter of 2009. But most of thesed mortgages will be soldto investors, and Chase is not making its net loan growtj available.
Washington Mutual did not release region-specifivc lending data, so it’s impossible to say whether local lendingf is up or down from ayear ago. Chase’ds corporate giving, however, will be measurablt less this year. In 2007, Washingtohn Mutual made $1.3 million in cash contributions tolocal nonprofits, and averaged more than one hour per worketr of pro bono volunteer service. Though Chase pledged to matcb prior year giving in Washingtonhwith $2.65 million in 2009 contributions, the bank plans to give away only $500,0000 in Oregon this year. That number should increase in Campbell said.
This matches a broader pattern incorporate giving, said Christinse McDonald, executive director of the Oregob and Southwest Washington affiliate of Susan G. Komen for the Local corporate giving is down about 25 percenft in thepast year, McDonaldx said, which is creating challenges for many The nature of Chase sponsorships is also shifting. Washingtonh Mutual often sponsoredcommunity events, whereas Chasd will focus more on business communitu sponsorships. Fresh off the fastest major bank conversion in in many ways Chasw is still finding its footingin Oregon.
The bank has spent $26 millio to give its new branches theChases look, trained more than 1,00o employees on new systemsz and operations, and over Memorial Day weekend it transferred online accounts from wamu.com to chase.com. Throughg this year, the rapid transformation will continue as Chasee establishes its commercial banking and wealthmanagement divisions. It will take unti 2010 for the New York institution to catch its breath and focus onsustainable long-term plans for the Campbell said. Those plans includ e growth beyond the 105 branchesw in Oregon and 15 inSouthwest “We certainly don’t want to build a new branchb from scratch,” Campbell said.
“A lot of smallet community banks really need toraise capital, so I have no doubtg that there will be opportunities.”
Gone are the brightly colored signsproclaimingv “Whoo hoo!” at every branch, replacexd by Chase’s more somber emphasis on strength and stabilitt through its “The Way Forward” campaign. Underpinning the marketingy shiftis Chase’s effort to aggressively expand in areaas that WaMu largely ignored. In an interview with the PortlandBusinessx Journal, newly hired Pacific Northwest Chairwoman Phyllis Campbell outlinex Chase’s Oregon strategy — which will resulg in new midsize business services, additional wealth management offerings, cuts to charitable givint and a more staid approach to branch-based Campbell, who was president of U.S.
Bank in Washingtojn from 1991 to 2003, left the nonprofitt Seattle Foundation in Aprilo tojoin Chase. She now travelsz regularly from Chase’s Seattle office to Portlans to meet with the fledging commercialbusiness team. The group, based downtown, will provide service to businesseswith $5 millionj to $500 million in annuak revenue. In addition to large loans, it will offerf cash management services that are now largely the purvie w ofWells Fargo, Bank of America and U.S. Scheduled to open its doors by the commercial business unit will face achallenging environment. “Sp much of our success, and everybody’ss success, will be tied to the recovery in the Campbell said.
“Because cash flow is so tight at many we don’t know how many deals we can Despite this challenge, Linda Navarro, president and CEO of the , applaudedr Chase’s expansion into commercial banking. “Going into this about 70 percent of the United Stateds credit market was not controlledr bytraditional banks,” Navarro said. “A lot of that credig has dried up, but credit still needsx to be extended to the business Chase also plans to enter an even more crowded arena wealthmanagement — with investment services targetef at people with more than $5 million in investabl e assets.
In addition to other big banks, Chase will competr with dozens of established specialty firms as it pursuesdthese clients. As the bank seeks out customers for thesde newbusiness lines, it must also work hard to hold on to the traditionalp deposits-and-loans business that it acquired when Washington Mutual failedc in September 2008. WaMu lost $104.6 million in Portland-area deposits from June 2007 to June and fell fromthe area’sa third largest bank to fourth. Sinc then, deposits have climbed at other banks and credirt unions in the metro which their executives attribute to moves by forme r WashingtonMutual customers. As of June 30, Chase had $4 billion in deposits in the metro area.
By the end of this when the Federal Deposit Insurance takes its next markertshare snapshot, Chase’s Portland deposits are likelg to be even lower. Yet Campbell expect that Chase will still be amonhgthe area’s top five banks — the others are Bank of U.S. Bank, Wells Fargo and KeyBank. Measuringg Chase’s lending success is more The bankissued $900 million in Oregonm loans, largely through home mortgages, in the first quarter of 2009. But most of thesed mortgages will be soldto investors, and Chase is not making its net loan growtj available.
Washington Mutual did not release region-specifivc lending data, so it’s impossible to say whether local lendingf is up or down from ayear ago. Chase’ds corporate giving, however, will be measurablt less this year. In 2007, Washingtohn Mutual made $1.3 million in cash contributions tolocal nonprofits, and averaged more than one hour per worketr of pro bono volunteer service. Though Chase pledged to matcb prior year giving in Washingtonhwith $2.65 million in 2009 contributions, the bank plans to give away only $500,0000 in Oregon this year. That number should increase in Campbell said.
This matches a broader pattern incorporate giving, said Christinse McDonald, executive director of the Oregob and Southwest Washington affiliate of Susan G. Komen for the Local corporate giving is down about 25 percenft in thepast year, McDonaldx said, which is creating challenges for many The nature of Chase sponsorships is also shifting. Washingtonh Mutual often sponsoredcommunity events, whereas Chasd will focus more on business communitu sponsorships. Fresh off the fastest major bank conversion in in many ways Chasw is still finding its footingin Oregon.
The bank has spent $26 millio to give its new branches theChases look, trained more than 1,00o employees on new systemsz and operations, and over Memorial Day weekend it transferred online accounts from wamu.com to chase.com. Throughg this year, the rapid transformation will continue as Chasee establishes its commercial banking and wealthmanagement divisions. It will take unti 2010 for the New York institution to catch its breath and focus onsustainable long-term plans for the Campbell said. Those plans includ e growth beyond the 105 branchesw in Oregon and 15 inSouthwest “We certainly don’t want to build a new branchb from scratch,” Campbell said.
“A lot of smallet community banks really need toraise capital, so I have no doubtg that there will be opportunities.”
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