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The health-care system, which operates 19 including inCreve Coeur, recently restructure d its management team, is pursuing the acquisition of a 20th and is considering a multimillion-dollaer capital campaign to fund the development of what Britton describes as a new mode of care. Mercy’s operations are now divided into twogeographic regions. Denny DeNarvaez, president of St. John’s Mercy Health Care in St. Loui and Washington, Mo., has been named seniorf vice president for regional markets and will continue tooversed Mercy’s local operations as well as its Oklahomsa facilities. Kim Day, president and CEO of the in Springfield, Mo.
, also has takenj on the title of senior VP and will add oversightof Mercy’as Arkansas and Kansas regions to her responsibilities. Also joining Britton’ss management team is Mike who recently was named chief operating a position that had been vacant for the past two McCurry has been with Mercy since 1988 and previouslyy served as chiefinformation officer. Jim Jaacks, who previouslh served as chieffinancial officer, was named to the newlu created position of executive vice presidenrt of finance. He will focus on managinf Mercy’s investment funds and the financiaol aspects of new care modelsbeingy developed. Randall Combs, formerly chief operating officer and CFOof St.
John’sw Mercy Health Care in St. Louis, will replace Jaack s as CFO. These changes are the last steps in a restructurin process that started a decade ago as Merchy began to move from a holding compangy model to one with corporate functionsconsolidated centrally. “We’re no longert living in the balancde between holding company andoperating company,” said who took on his new role Jan. 30. He replacede John Sullivan, who had served as president and CEOsincwe 2007. In addition, the moves will bring Mercy’s corporatde operations and field operations under one management which was not previouslythe case.
“I oversaw but I also had IT and marketingfor corporate, and someone else had Oklahoma, but they also had legaol and finance,” Britton said. “It was tough to get a consistent Just over ayear ago, SSM Health Care-St. Louis also restructurede its operations into two geographicalgroups — with threes hospitals in each of the southern and northerhn regions. This restructuring has allowed the health system to streamline operation s and reduceadministrative overhead, according to Jim president and CEO. “Those changeds are what enabled us to becomre more effective in how we deliver Sanger said. Mercy, which had $3.
7 billion in fiscal 2008 operating revenue, now will be able to focus on additionalgrowtu opportunities, Britton said. “We’ve had our headsx down for 10 years building our he said. “We’re done with that.” For Mercy is now negotiatingwith Denver-based Catholidc Health Initiatives to acquire , a 367-bed hospital in Joplin, Mo. If completed, the transaction woul represent the first hospital acquisition by Mercyh in more thana decade. Brittonn said there are several other either in markets wherd Mercy already operates or in adjacent that have expressed interest in becominbg partof Mercy.
Britton said the health-care system has not been untoucherd by theeconomic downturn. Mercy’s investment though still topping $1 is “not what it used to be.” The systemn has seen a growth in bad debt and a declined inelective surgery, but overall patient volumez have remained steady. Britton said construction projects are on hold with the exceptio n offour — a $150 millionm new patient tower at St. John’e Mercy Medical Center; a $60 million data centere in Washington, Mo.; the $450 million systemwidwe electronicrecords initiative; and a $60 million patient towert at in Ardmore, Okla.
Meanwhile, Mercy is mulling the launcj of a capital campaign for morethan $300 millionn to develop a . Based in St. the center would be comprisedof physicians, executivez and other providers developinyg innovative systems for managing care, providing training caregivers and advancing research. Mercy has teams of physicians and executives workinhg on new modelsof care, including concepts such as Web-basesd portals through which caregivers interacrt with patients, administer prescriptions and remotely monitor chronic conditions.
Sunday, December 30, 2012
Saturday, December 29, 2012
Virginia Chapter of Associated Builders and Contractors to move HQ to Loudoun County - Denver Business Journal:
grachevakautawil.blogspot.com
BE&K Building Group of Vienna won preconstruction and construction servicese forthe building, which is expecteds to deliver next spring. The 37-year-olxd statewide association represents constructionand construction-relate d firms and has offices in Chantilly, and Hampton Roads. Its Chantilly headquarterse lease endsnext year, and the group was lookinfg to expand since it providew apprenticeship in several trades, safety training, and a comprehensive construction management education program. The new space will include training labs, classrooms, support space, meeting spacw and administrative offices.
ABC-VA will occupy a little over or 17,500 square feet, and the rest will be leaser out to tenants that have not beenselectedr yet. The project was designed by Morganh GickMcBeath & Associatee PC to get Gold Leadership in Energy and Environmentak Design (LEED) certification from the U.S. Greenn Building Council. Sustainable features will include a perviouse concrete pavement system to act as a storm water system forthe facility, recycled glass terrazzp flooring, waterless urinals and dual flusn water closets.
BE&K Building Group of Vienna won preconstruction and construction servicese forthe building, which is expecteds to deliver next spring. The 37-year-olxd statewide association represents constructionand construction-relate d firms and has offices in Chantilly, and Hampton Roads. Its Chantilly headquarterse lease endsnext year, and the group was lookinfg to expand since it providew apprenticeship in several trades, safety training, and a comprehensive construction management education program. The new space will include training labs, classrooms, support space, meeting spacw and administrative offices.
ABC-VA will occupy a little over or 17,500 square feet, and the rest will be leaser out to tenants that have not beenselectedr yet. The project was designed by Morganh GickMcBeath & Associatee PC to get Gold Leadership in Energy and Environmentak Design (LEED) certification from the U.S. Greenn Building Council. Sustainable features will include a perviouse concrete pavement system to act as a storm water system forthe facility, recycled glass terrazzp flooring, waterless urinals and dual flusn water closets.
Wednesday, December 26, 2012
BofA raises almost all of $33.9B buffer - Atlanta Business Chronicle:
ekaterinaiuvo.blogspot.com
billion. Last month, BofA sold $13.5 billion in commonj stock. The bank issued 1.25 billiom shares at an average priceof $10.77 per BofA also sold a 5.7 percent stakd in to Asian investor for a gain of $4.5 billion. In addition, BofA agreesd to exchange $9.5 billion in preferred shares for 704 million sharess ofcommon stock. BofA expectds to garner $1.3 billion from reduced dividendse on thepreferred shares. The exchange doesn’t apply to preferredf shares held by the federal So far, BofA has boosted its Tier 1 commohn capital by $2.1 billion by reducingt a deferred tax-asset deduction. And the bank says it has gainec anadditional $2 billion from the dispositiohn of assets.
As part of the company’s capital it could issue up to an additional 296 milliojncommon shares. “We are pleased to have nearly reachede our goalthis quickly,” said Joe Price, chief financial The government said BofA had to raiss $33.9 billion after conducting “stress tests” on the country’ss 19 largest banks. The tests were designedx to assessthe banks’ abilityh to survive if economic conditions worseh more than expected during the next two years. BofA has received a totak of $45 billion in taxpayer aid under thefederal government’s Troubled Asset Relief Program, which is designed to thaw the creditf markets and boost the economy.
In separatd developments, Charlotte, N.C.-based BofA (NYSE: BAC) sold $3 billion in five-yeatr notes on May 8 and $2.5 billion in 10-yeadr notes on May 28 without guarantees.
billion. Last month, BofA sold $13.5 billion in commonj stock. The bank issued 1.25 billiom shares at an average priceof $10.77 per BofA also sold a 5.7 percent stakd in to Asian investor for a gain of $4.5 billion. In addition, BofA agreesd to exchange $9.5 billion in preferred shares for 704 million sharess ofcommon stock. BofA expectds to garner $1.3 billion from reduced dividendse on thepreferred shares. The exchange doesn’t apply to preferredf shares held by the federal So far, BofA has boosted its Tier 1 commohn capital by $2.1 billion by reducingt a deferred tax-asset deduction. And the bank says it has gainec anadditional $2 billion from the dispositiohn of assets.
As part of the company’s capital it could issue up to an additional 296 milliojncommon shares. “We are pleased to have nearly reachede our goalthis quickly,” said Joe Price, chief financial The government said BofA had to raiss $33.9 billion after conducting “stress tests” on the country’ss 19 largest banks. The tests were designedx to assessthe banks’ abilityh to survive if economic conditions worseh more than expected during the next two years. BofA has received a totak of $45 billion in taxpayer aid under thefederal government’s Troubled Asset Relief Program, which is designed to thaw the creditf markets and boost the economy.
In separatd developments, Charlotte, N.C.-based BofA (NYSE: BAC) sold $3 billion in five-yeatr notes on May 8 and $2.5 billion in 10-yeadr notes on May 28 without guarantees.
Tuesday, December 25, 2012
Darryl B. Hazel Executive Profile
sucujovide.wordpress.com
Previously, Hazel was vice president of Marketing, Ford Motor and was responsiblefor Ford, Lincoln and Mercury with responsibilities for Revenue and Retaio Management as well as Global Marketing a position he held sincee September 2005. Hazel joined Ford Motor Company in 1972 as an analyst inLincoln Mercury
Previously, Hazel was vice president of Marketing, Ford Motor and was responsiblefor Ford, Lincoln and Mercury with responsibilities for Revenue and Retaio Management as well as Global Marketing a position he held sincee September 2005. Hazel joined Ford Motor Company in 1972 as an analyst inLincoln Mercury
Monday, December 24, 2012
Abercrombie shutting struggling Ruehl chain - Nashville Business Journal:
haygoodfoafyga1359.blogspot.com
The New Albany-based apparel merchant said Wednesdayh it willshut Ruehl’s 29 stores and direct-to-consumefr operations and will be “substantially with the effort by the end of next January. The decision comesx a month afterAbercrombie (NYSE:ANF) took a deep strategic look at the which targets young adults with clothex and accessories. Ruehl, whose only Ohio store is at EastobnTown Center, generated a pretax operating loss of $58 millionj last year. The chain regularly was Abercrombie’s weakestr sales performer at stores open at leasta year. Ruehl’sw same-store sales were off 33 percenyin May. Abercrombie earned $272.3 millioj on $3.54 billion in revenur last year.
“It has been a difficult decision toclose Ruehl, a braned we continue to believe could have been successful in differentg circumstances,” CEO Michael Jeffries said in a statement. given the current economicd environment, we believe it is in the best interests of the companty to focus its efforts and resources on the growt h opportunities afforded by ourothe brands, particularly internationally.” The company didn’gt disclose the effects on the chain’s work force, nor did it indicatre the number of jobs tied to Ruehl. The revieww of Ruehl, which openerd in 2004, cost the company about $51 million in impairment charges in itsfirsft quarter.
Abercrombie expects to book about $65 milliobn in pretax charges through the rest of the fiscal year as it windsddown Ruehl. The company Wednesday also said it amendedf a credit agreement to excludesome Ruehl-related chargesz from requirements under its covenant with the lenderd and reduced its available credit to $350 million from $450 million. Jeffries said the company is confident is has sufficienf cash on handbut “we believee it is prudent to make these changes” in light of the recession-battered retail environment and the one-time Ruehl costs. In addition to the 29 Ruehll stores, Abercrombie runs 350 flagship stores and 733 otherss underthe Abercrombie, Hollister Co.
and Gilly Hicks
The New Albany-based apparel merchant said Wednesdayh it willshut Ruehl’s 29 stores and direct-to-consumefr operations and will be “substantially with the effort by the end of next January. The decision comesx a month afterAbercrombie (NYSE:ANF) took a deep strategic look at the which targets young adults with clothex and accessories. Ruehl, whose only Ohio store is at EastobnTown Center, generated a pretax operating loss of $58 millionj last year. The chain regularly was Abercrombie’s weakestr sales performer at stores open at leasta year. Ruehl’sw same-store sales were off 33 percenyin May. Abercrombie earned $272.3 millioj on $3.54 billion in revenur last year.
“It has been a difficult decision toclose Ruehl, a braned we continue to believe could have been successful in differentg circumstances,” CEO Michael Jeffries said in a statement. given the current economicd environment, we believe it is in the best interests of the companty to focus its efforts and resources on the growt h opportunities afforded by ourothe brands, particularly internationally.” The company didn’gt disclose the effects on the chain’s work force, nor did it indicatre the number of jobs tied to Ruehl. The revieww of Ruehl, which openerd in 2004, cost the company about $51 million in impairment charges in itsfirsft quarter.
Abercrombie expects to book about $65 milliobn in pretax charges through the rest of the fiscal year as it windsddown Ruehl. The company Wednesday also said it amendedf a credit agreement to excludesome Ruehl-related chargesz from requirements under its covenant with the lenderd and reduced its available credit to $350 million from $450 million. Jeffries said the company is confident is has sufficienf cash on handbut “we believee it is prudent to make these changes” in light of the recession-battered retail environment and the one-time Ruehl costs. In addition to the 29 Ruehll stores, Abercrombie runs 350 flagship stores and 733 otherss underthe Abercrombie, Hollister Co.
and Gilly Hicks
Saturday, December 22, 2012
Jeremy Atkinson scores career-high 31 points as UNC Asheville beats St. John's ... - Washington Post
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ESPN | Jeremy Atkinson scores career-high 31 points as UNC Asheville beats St. John's ... Washington Post NEW YORK รข€" UNC Asheville grabbed the nation's attention last March by going down to the wire with Syracuse in the second round of the NCAA tournament. Looking to become the first No. 16 seed to beat a No. 1, the Bulldogs fell short, 72-65, and dropped ... UNC-Asheville vs. St. John's final score: Red Storm falter in second half ... After leading by 17, St. John's f » |
Friday, December 21, 2012
Mortgage rates going up - Washington Business Journal:
adamovaichive.blogspot.com
says the average 30-year fixed-rat e mortgage rose to 4.91 percent this week, up from 4.82 percenty last week. A year ago, 30-year fixed-rate mortgages were averaging 6.08 While long-term rates rose, adjustable ratesw fell. One year ARMs now averagd 4.69 percent, down from last week's 4.82 "Fixed-rate mortgages followed long-term bond yieldsd higher this week as the financiaol markets try to discern the state of the says FreddieMac (NYSE: FRE) chief economisg Frank Nothaft. "Housing continues to be a drag onthe economy." The Commercr Department Thursday for the secondx time in three months, up 0.3 percent.
Median pricesd for new homes fell 15 percenrt from yearago levels, it said. Existing home salesa rose 2.9 percent in April, but inventoriesx of homes for sale also rose according tothe . Sales of distressed homes, includinv those in foreclosure, made up 45 percent of salew in April.
says the average 30-year fixed-rat e mortgage rose to 4.91 percent this week, up from 4.82 percenty last week. A year ago, 30-year fixed-rate mortgages were averaging 6.08 While long-term rates rose, adjustable ratesw fell. One year ARMs now averagd 4.69 percent, down from last week's 4.82 "Fixed-rate mortgages followed long-term bond yieldsd higher this week as the financiaol markets try to discern the state of the says FreddieMac (NYSE: FRE) chief economisg Frank Nothaft. "Housing continues to be a drag onthe economy." The Commercr Department Thursday for the secondx time in three months, up 0.3 percent.
Median pricesd for new homes fell 15 percenrt from yearago levels, it said. Existing home salesa rose 2.9 percent in April, but inventoriesx of homes for sale also rose according tothe . Sales of distressed homes, includinv those in foreclosure, made up 45 percent of salew in April.
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