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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (23814)	1/29/2003 6:06:46 PM
From: DMaA	Read Replies (2) \| Respond to of 57110

Check out this logic. This hospital is laying off 1.5% of its workers to maintain its profit margin so it can borrow money for an expansion that's "critical because of increased demand for medical care" As many as 100 jobs, including those cut Tuesday, may be eliminated from the health system's payroll in the next six weeks to two months, SMDC Chief Operating Officer Mary Johnson said Tuesday. . . . The unexpected spike in expenses threatened to erase a projected 2 percent profit margin for SMDC's fiscal year, which ends June 30, as the health system prepares to embark on a $75 million expansion of its downtown campus. Avoiding the profit loss will improve SMDC's ability to borrow money for the construction project, scheduled to begin this spring, which includes construction of a $50 million cancer center adjacent to its two Duluth hospitals, Johnson said. Pushing forward with the planned expansion is critical because of increased demand for medical care, particularly by an aging population, she said. duluthsuperior.com