Allegheny repaid Mellon $87 million

Article Abstract:

Allegheny Health Education and Research Foundation gave in April 1998 a lender consortium, which is led by Mellon Bank, with $87 million to repay its credit line. Allegheny Health Education and Research Foundation opted to repay the Mellon Bank-led lender consortium even as its was suffering delays in paying its suppliers and it was losing close to $1 million everyday. Allegheny Health Education and Research Foundation's move angered its workers and other creditors, with the debt payment's timing to be used as an issue of contention during Bankruptcy Court deliberations on the firm's assets.

Comment:

Leads a lender consortium that is given $87 mil in 4/98 by Allegheny Health Education & Research Foundation to repay credit line

Commercial Banks, Commercial Banking, Receipt of funds, Use of Funds, Mellon Bank Corp., Allegheny Health Education and Research Foundation

Jefferson system may bid for 8 Allegheny hospitals

Article Abstract:

Jefferson Health System is reportedly planning a purchase of eight hospitals located in the Allegheny, PA-area in September 1998 at a federal Bankruptcy Court sale. The company told the leaders of Local 1199C of the National Union of Hospitals and Health Care Employees of its intention to make a bid for the properties. Jefferson spokesperson Jeff Baxt decline to comment on the report concerning the confirmation, but stated decisions have not been made. Sources reported it is unlikely Jefferson or other systems would file an official offer before the September 29, 1998 bankruptcy auction.

Comment:

Is reportedly planning buy of eight hospitals in the Allegheny, PA-area in September 1998 at a federal Bankruptcy Court sale

Acquisitions & mergers, Pennsylvania, Jefferson Health System Inc.

Tenet, union in dispute over days-off policy

Article Abstract:

Tenet Healthcare Corp. is in a dispute with its largest union, District 1199C of the National Union of Hospital and Health Care Employees, over a company policy that allows managers to ask some workers to take unscheduled vacation days when the number of patients drops. The local filed an unfair labor practice complaint with the National Regulations Board, maintaining that Tenet violated federal labor law by requiring all employees to take a mandatory day off during the week of June 21.

Government regulation (cont), Labor force information, Hospitals, Tenet Healthcare Corp.