lihung-associations.blogspot.com
Investment losses for the latest quarter totalednearly $101 million. Chied Financial Officer Greg Gombar anticipates gains in the financial markey in April and May will erassethose losses. Carolinas HealthCare uses investment earning s forcapital expenditures. That money is not used for dailyy operations. The health-care system hopes negotiations with several lenders will cut its interestr expenses tied to variable debt andhigher bank-liquidity Those fees are about $1 million per Interest expenses in the first quarter were $21.9 million.
From an operationao standpoint, Carolinas HealthCare had a strongfirst quarter, says Russ executive vice president for business development and Net operating revenue climbed 8.6 percent to $1.2 billion Operating income exceeded $24.5 The health-care system saw adjusted discharges a calculation that gauges patient activitg — climb 5.2 percent from a year Growth within the health-care system and expensde management “is the primary driver why we’re abovre budget significantly,” Guerin says. Carolinas HealthCare spent morethan $106 milliom on capital projects in the first quarter.
Projects includ new operating roomsat CMC-NorthEast and Carolinasz Medical Center, an expansion of CMC-Pineville, a new hospita l at CMC-Lincoln and construction of health-care pavilionss in Steele Creek and Waxhaw, whichn will include free-standing emergency departments. Challenges in the cominb months include managingthe system’s growing bad-debft and charity-care costs, reducingh interest expenses and preparing for a possible statse cut in Medicaid funding, Gombafr says. Bad-debt costs were 12 percent over budget durintg thefirst quarter, topping $48 million in the first During the same period last year, bad debt was abour $43 million.
The health-care system spent more than $770 million in community care in includingbad debt, charity care and subsidizinb Medicare and Medicaid. That equals 18.8 percent of the health-care system’s net operating ”It’s a trend everybody’s seeing across the Gombar says. “We can’t control how many people are uninsured, how many peoplew show up at our door without North Carolina’s budget woes could results in a cut of up to 15 perceny for Medicaid. That could equate to $36 million in annuaol losses forCarolinas HealthCare. “Medicaid cuts are the worst economicx benefit cut the statecan make,” Gombar “It’s painful.
” Says Guerin: “It raises prices for thosw who do pay. It makes no good business sense to do Gombar says every dollar cut from Medicaidxeliminates $4 from the economy. Carolinas HealthCare is the largest health-care system in the Carolinas and the third-largest publicc system in the The system owns, leases or manages 25 It has more than 40,000 full - and part-time employees.
Wednesday, February 29, 2012
Monday, February 27, 2012
Duke, CFO study: CFOs foresee more job cuts, credit woes - Business First of Columbus:
http://keroncongemas.com/worldnews/divided-we-stand-what-if-south-carolina-were-independent/
The quarterly Duke University/CFO Magazine Global Business Outlooi Surveyasked 1,309 CFOs worldwide abouyt their expectations for the economy. Their answers paint a gloomy picture for the rest ofthe * CFOs in the U.S. and Europe expectes employment to shrinkby 5.5 percent, with the unemploymenf rate in the U.S. seen rising to perhap as high as 12 percent in the next12 months. Employmeny in Asia is expected to recedrby 1.2 percent.
“Presumably, government programs will offsetr some ofthese losses, but even the most optimistic governmeng forecasts would reduce the lossez by only 2 million,” said Campbelo Harvey, founding director of the survey and international business professor at Duke’s Fuqua School of “We’re facing the possibility of anothert 4 million lost jobs.” * U.S. and European CFOs foreseed capital spending plunging by more than10 percent. In CFOs anticipate a 3 percent decline. * Six in 10 U.S. companiew covered by the surveyg reported having trouble findin credit or acquiring creditg at areasonable rate.
Among those firms encounterinfgcredit impediments, 42 percent say the credit markets have gotten worse this year, whilre 23 percent say conditions have improved. * Weak consumee demand and the creditf markets ranked as the top two externaol concernsamong U.S. chief financial officers, with the federall government’s policies coming in third. Among internal CFOs are losing the most sleep over their inability to plan due toeconomic uncertainty, managing their companies’ capital and liquidity, and maintaining employe morale.
Despite all the negative indicators, a majority of the CFOs in the Unitee States and Asia reported being more optimistic this quarter than they were the previous That was not the casein Europe, wheree only 30 percent of the CFOs said they were more compared to the 31 percent who said they were less “Our survey carries an important message: Don’t put too much weighgt on the ‘soft’ data like consumere confidence. Recovery requires sustained confidence, and such confidence is forges by strongereconomic fundamentals,” Harvey “The economic fundamentals –- employment, capital spending, the cost of credi – are still fundamentally troubling.
” To see the complete survey go to the official Web .
The quarterly Duke University/CFO Magazine Global Business Outlooi Surveyasked 1,309 CFOs worldwide abouyt their expectations for the economy. Their answers paint a gloomy picture for the rest ofthe * CFOs in the U.S. and Europe expectes employment to shrinkby 5.5 percent, with the unemploymenf rate in the U.S. seen rising to perhap as high as 12 percent in the next12 months. Employmeny in Asia is expected to recedrby 1.2 percent.
“Presumably, government programs will offsetr some ofthese losses, but even the most optimistic governmeng forecasts would reduce the lossez by only 2 million,” said Campbelo Harvey, founding director of the survey and international business professor at Duke’s Fuqua School of “We’re facing the possibility of anothert 4 million lost jobs.” * U.S. and European CFOs foreseed capital spending plunging by more than10 percent. In CFOs anticipate a 3 percent decline. * Six in 10 U.S. companiew covered by the surveyg reported having trouble findin credit or acquiring creditg at areasonable rate.
Among those firms encounterinfgcredit impediments, 42 percent say the credit markets have gotten worse this year, whilre 23 percent say conditions have improved. * Weak consumee demand and the creditf markets ranked as the top two externaol concernsamong U.S. chief financial officers, with the federall government’s policies coming in third. Among internal CFOs are losing the most sleep over their inability to plan due toeconomic uncertainty, managing their companies’ capital and liquidity, and maintaining employe morale.
Despite all the negative indicators, a majority of the CFOs in the Unitee States and Asia reported being more optimistic this quarter than they were the previous That was not the casein Europe, wheree only 30 percent of the CFOs said they were more compared to the 31 percent who said they were less “Our survey carries an important message: Don’t put too much weighgt on the ‘soft’ data like consumere confidence. Recovery requires sustained confidence, and such confidence is forges by strongereconomic fundamentals,” Harvey “The economic fundamentals –- employment, capital spending, the cost of credi – are still fundamentally troubling.
” To see the complete survey go to the official Web .
Saturday, February 25, 2012
Thursday, February 23, 2012
GE Energy lands $500M in contracts in Bahrain project - Atlanta Business Chronicle:
gardellaorymiid1354.blogspot.com
The country is planning additional capacit y expansions over the next 20 yearzs for its increasingpower needs, which are growing at rates of 7 perceny to 10 percent a year, officials there Atlanta-based GE Energy is supplyiny two steam turbines and four heavy-duth Frame 9FA gas turbines, whichh are equipped with GE advanced emission-control technologies. GE also contracted to service the equipment for20 years. When completed, the planr is expected to provide 1,250 megawattsw of power, which would account for 30 percen t ofthe kingdom’s existing electricity grid output, as well as 48 million imperial gallons of desalinated waterf per day.
“Worldwide, we are seeinbg a trend toward the integration of power and watetr production at a single saidSteve Bolze, president and CEO of GE Energy’ds Power and Water business. “Water and energyt are inextricably linked; energy is needed to generat e water and water is needed to produce GE hasthe scale, diversityh and expertise to effectively pursue and managre power and water projects around the Under the contract, GE Energy will supply parts, repairas and provide field services for planned and unplanned maintenance for the gas turbine-generators and accessoryh equipment. The two steam turbinesz will be manufacturedin N.Y.
; the four gas turbinew will be built at in Greenville, S.C. They primarilu will be powered bynaturao gas. It’s GE’s first installation of the F-class gas turbinesa in the Kingdomof Bahrain.
The country is planning additional capacit y expansions over the next 20 yearzs for its increasingpower needs, which are growing at rates of 7 perceny to 10 percent a year, officials there Atlanta-based GE Energy is supplyiny two steam turbines and four heavy-duth Frame 9FA gas turbines, whichh are equipped with GE advanced emission-control technologies. GE also contracted to service the equipment for20 years. When completed, the planr is expected to provide 1,250 megawattsw of power, which would account for 30 percen t ofthe kingdom’s existing electricity grid output, as well as 48 million imperial gallons of desalinated waterf per day.
“Worldwide, we are seeinbg a trend toward the integration of power and watetr production at a single saidSteve Bolze, president and CEO of GE Energy’ds Power and Water business. “Water and energyt are inextricably linked; energy is needed to generat e water and water is needed to produce GE hasthe scale, diversityh and expertise to effectively pursue and managre power and water projects around the Under the contract, GE Energy will supply parts, repairas and provide field services for planned and unplanned maintenance for the gas turbine-generators and accessoryh equipment. The two steam turbinesz will be manufacturedin N.Y.
; the four gas turbinew will be built at in Greenville, S.C. They primarilu will be powered bynaturao gas. It’s GE’s first installation of the F-class gas turbinesa in the Kingdomof Bahrain.
Tuesday, February 21, 2012
Manpower: 6% of Honolulu employers to hire in 3Q - Baltimore Business Journal:
ogarawo.wordpress.com
From July to September, 6 percent of the companiesd interviewed in the Honoluliu metro area plan to hiremore employees, while 11 percent expectr to reduce their payrolls, according to the survet from Milwaukee-based (NYSE: MAN). Seventy-eight percent expect to maintaibn their current staff levels and 5 percent remaih uncertain abouthiring plans. Hiring is expected to be a little lighter than in thesecond quarter, when 10 percentg of companies surveyed planned to hire and 12 percent expectee to cut payrolls, said Manpower spokeswoman Mary Lou For the coming quarter, job prospectss in the Honolulu area appear best in wholesales and retail trade and leisure and Employers in durable goods manufacturing, nondurablew goods manufacturing, information, professional and businesse services, education and health services and government intend to cut Hiring in construction, transportation and utilities, financiakl activities and other services is expected to remain National survey results showed little change from the second quarter.
Of the more than 28,000 employers surveyexd acrossthe country, 15 percengt expect to increase their staff levels during the third while 13 percent expect to reduce their Sixty-seven percent expect no changs in hiring and 5 percent are undecidefd about their third-quarter hiring plans. “The data showes continued hesitancyamong employers,” said Jonass Prising, president of the Americas for Manpower. “They are treading slowlyh and watching withguarded optimism, hoping a few quartersw of stability will be the precursor to the recovery.
”
From July to September, 6 percent of the companiesd interviewed in the Honoluliu metro area plan to hiremore employees, while 11 percent expectr to reduce their payrolls, according to the survet from Milwaukee-based (NYSE: MAN). Seventy-eight percent expect to maintaibn their current staff levels and 5 percent remaih uncertain abouthiring plans. Hiring is expected to be a little lighter than in thesecond quarter, when 10 percentg of companies surveyed planned to hire and 12 percent expectee to cut payrolls, said Manpower spokeswoman Mary Lou For the coming quarter, job prospectss in the Honolulu area appear best in wholesales and retail trade and leisure and Employers in durable goods manufacturing, nondurablew goods manufacturing, information, professional and businesse services, education and health services and government intend to cut Hiring in construction, transportation and utilities, financiakl activities and other services is expected to remain National survey results showed little change from the second quarter.
Of the more than 28,000 employers surveyexd acrossthe country, 15 percengt expect to increase their staff levels during the third while 13 percent expect to reduce their Sixty-seven percent expect no changs in hiring and 5 percent are undecidefd about their third-quarter hiring plans. “The data showes continued hesitancyamong employers,” said Jonass Prising, president of the Americas for Manpower. “They are treading slowlyh and watching withguarded optimism, hoping a few quartersw of stability will be the precursor to the recovery.
”
Sunday, February 19, 2012
UW-Stout names dean to new post - The Business Journal of Milwaukee:
ivyhofy.wordpress.com
Meyer, dean of the Colleged of Technology, Engineering and Manufacturing, will begij the new role as director of federap and state relations beginningJuly 1, the university said He will work as a liaison between the universit y and federal and state elected representatives and other officials, to find financiakl support for the university's initiatives. "Bob Meyer is an excellenty fit forthis position," UW-Stoug chancellor Charles Sorensen said in a "He understands the great strengths of he is passionate about using the resource base to drivw economic development, and he has strong interpersonal Meyer replaces the retiring Joe Benkowski as director of the Stout Technology Transfer Institute, whic h promotes technology transfer between UW-Stout and industry.
Meyee had previously served as director of the Carol Mooney, associate dean of the College of Engineering and Manufacturing, has been namedf interim dean while the university searche s for a permanent replacement.
Meyer, dean of the Colleged of Technology, Engineering and Manufacturing, will begij the new role as director of federap and state relations beginningJuly 1, the university said He will work as a liaison between the universit y and federal and state elected representatives and other officials, to find financiakl support for the university's initiatives. "Bob Meyer is an excellenty fit forthis position," UW-Stoug chancellor Charles Sorensen said in a "He understands the great strengths of he is passionate about using the resource base to drivw economic development, and he has strong interpersonal Meyer replaces the retiring Joe Benkowski as director of the Stout Technology Transfer Institute, whic h promotes technology transfer between UW-Stout and industry.
Meyee had previously served as director of the Carol Mooney, associate dean of the College of Engineering and Manufacturing, has been namedf interim dean while the university searche s for a permanent replacement.
Friday, February 17, 2012
FAR economist Lawrence Yun stays positive in Tampa trip - Orlando Business Journal:
grihanovveimavox.blogspot.com
Those were just some of the insights chiefc economist Lawrence Yun sharefd with members of theThursday morning. “Ws have the lowest mortgage rates since Presidenr Eisenhower but not withjumbo loans,” Yun “We hear about the 50-year low mortgagse rates at 4.9 percent or 4.8 but with jumbo mortgages, they still remain stubbornlgy high at 6.5 percent and 7 Fannie and Freddie can’t buy those, so they have to charge a highet interest rate.” At the same time help is needefd to sell homes listing for more than Yun said.
“The government needs to raise the loan limift or get rid of the loan limit altogethee if they want the housing marketto stabilize,” he “In the middle market, we are seeing a rise in and the high end will begihn to suffer if there are no buyers. If there are no then they have toreduce prices, and reducwe prices and reduce prices, and we’ll nevere find a bottom.” Last year, many of the foreclosures hittingg the market came from interest rate resetsw caused by adjustable rate mortgages.
Now, however, other economicv issues like job loss and other large bills are fueling thatparticular market, whicj is likely to stay strong through the rest of the year, Yun “This area has had large job creatiomn in recent years, but now we’rew seeing job cuts that are much deeper than in past Yun said. One of the leading industriesa with job lossesis construction, but financial jobs and business servicesz aren’t that far behind, he said. In fact, the only areas that seem to be showingt solid growth are education andhealth care.
“Independen of any political the most likely occurrence is that there will be increased health care spending and increasededucatioj spending, so we’ll probably continue to see growth in thoswe areas over the next four years,” Yun said. On a broaderr scale, the United States is facingy some of its biggest budgetdeficits ever, whic h could force the government to call on the more, thus boostingb inflation. Such a move could be good for “In an inflationary society, the winners wouls be property owners as they wouldd see theirvalues rise,” Yun said.
“I it’s a deflation, the losers wouldf be responsible homeowners with The signs are in place for a homesaless rebound. During the economicd downturn ofthe 1980s, home sales dropped dramatically becausew mortgage rates were rising from 10 to 18 Yun said. In the most recen prior recession, following the 11, 2001, terrorist attacks, home salez actually rose mostly because mortgag e rates were falling from 8 percent downto 6.5 “Today, it is 5 percent, and it’s likelyg to be 5.5 percenyt by the year’s end,” Yun said. “Tha t represents great opportunity. Home sales can rise, even in a when the mortgage ratesare favorable.
We may be facingb an unemployment rate of 10 which is a highunemployment rate, but that still mean s there are 90 percent of the peopls out there with jobs.”
Those were just some of the insights chiefc economist Lawrence Yun sharefd with members of theThursday morning. “Ws have the lowest mortgage rates since Presidenr Eisenhower but not withjumbo loans,” Yun “We hear about the 50-year low mortgagse rates at 4.9 percent or 4.8 but with jumbo mortgages, they still remain stubbornlgy high at 6.5 percent and 7 Fannie and Freddie can’t buy those, so they have to charge a highet interest rate.” At the same time help is needefd to sell homes listing for more than Yun said.
“The government needs to raise the loan limift or get rid of the loan limit altogethee if they want the housing marketto stabilize,” he “In the middle market, we are seeing a rise in and the high end will begihn to suffer if there are no buyers. If there are no then they have toreduce prices, and reducwe prices and reduce prices, and we’ll nevere find a bottom.” Last year, many of the foreclosures hittingg the market came from interest rate resetsw caused by adjustable rate mortgages.
Now, however, other economicv issues like job loss and other large bills are fueling thatparticular market, whicj is likely to stay strong through the rest of the year, Yun “This area has had large job creatiomn in recent years, but now we’rew seeing job cuts that are much deeper than in past Yun said. One of the leading industriesa with job lossesis construction, but financial jobs and business servicesz aren’t that far behind, he said. In fact, the only areas that seem to be showingt solid growth are education andhealth care.
“Independen of any political the most likely occurrence is that there will be increased health care spending and increasededucatioj spending, so we’ll probably continue to see growth in thoswe areas over the next four years,” Yun said. On a broaderr scale, the United States is facingy some of its biggest budgetdeficits ever, whic h could force the government to call on the more, thus boostingb inflation. Such a move could be good for “In an inflationary society, the winners wouls be property owners as they wouldd see theirvalues rise,” Yun said.
“I it’s a deflation, the losers wouldf be responsible homeowners with The signs are in place for a homesaless rebound. During the economicd downturn ofthe 1980s, home sales dropped dramatically becausew mortgage rates were rising from 10 to 18 Yun said. In the most recen prior recession, following the 11, 2001, terrorist attacks, home salez actually rose mostly because mortgag e rates were falling from 8 percent downto 6.5 “Today, it is 5 percent, and it’s likelyg to be 5.5 percenyt by the year’s end,” Yun said. “Tha t represents great opportunity. Home sales can rise, even in a when the mortgage ratesare favorable.
We may be facingb an unemployment rate of 10 which is a highunemployment rate, but that still mean s there are 90 percent of the peopls out there with jobs.”
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