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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
May 17, 2014
Page
1
Cedar Rapids will obtain 1.4 million dollars in transportation funds to improve downtown skywalks. The funding aims to upgrade pedestrian routes and safety infrastructure in the city’s core area.
California Chrome, Kentucky Derby winner, enters the Preakness today as the race favorite. The feature notes expectations for Chrome to extend its impressive campaign.
Gazette photographers showcase their favorite images from the week highlighting striking scenes, notable subjects, and diverse locales. The selection offers a glimpse into daily life, culture, and events captured through the paper’s local lens.
Moody's credit ratings and tax forms shed light on hospital finances. A 2005 Florida study found financial pressure linked to higher odds of preventable patient safety events. Revenue from Medicare Medicaid and private insurers funds salaries equipment and facility upkeep.
Moody’s revised the UnityPoint Health system Aa3 rating to negative outlook citing rapid growth and diversified revenue. CFO Mark Johnson of West Des Moines notes regional struggles do not heavily impact the system’s overall credit standing. UnityPoint Health operates 15 facilities in the region.
Moody's expresses concern over a standalone facility amid St. Luke's Hospital 2012 figures. Revenue reached 375.7 million with expenses 358.9 million and net income 16.8 million. The system spans Iowa Illinois and recently expanded in Wisconsin.
Mercy Medical Center in Cedar Rapids holds an A2 rating praised by CFO Nathan VanGenderen as solid for a stand-alone hospital. Moody's shifted the outlook from stable to negative in January due to deteriorating operating margins in fiscal 2013 and ongoing challenges into interim fiscal year 2014, though the rating itself remains unchanged day to day.
Mercy Medical Center posted fiscal 2012 revenues of 290.6 million, expenses of 273.1 million, and net income of 17.5 million. VanGenderen warned that reduced financial performance could prompt reallocating future dollars away from some areas.
The joint House Senate conference committee approved a final Water Resources Reform and Development Act version authorizing 73.13 million dollars for Cedar Rapids flood protection. City leaders hailed bipartisan passage as the measure merges earlier House and Senate versions.
The Transportation Department says General Motors will pay a record 35 million fine as part of the probe into how it handled recalls for 2.59 million small cars with faulty ignition switches. The agreement requires internal changes in GM’s safety review and recall decision processes. Transportation Secretary Anthony Foxx faulted the company for not acting or alerting regulators promptly.
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