This investment adviser does not provide advice to individual investors. Vasilomanolakis says the hospital also did not have a fully implemented electronic records system. Los Angeles, Randall Emmett, Ambyr Childers settle domestic violence restraining order dispute, Column: Supreme Court conservatives may want to block student loan forgiveness. Employees . DocketDescription: Default notice sent-appellant notified per rule 8.100(c). (He bought the Business Journal in 2020.). and Make your practice more effective and efficient with Casetext's legal research suite. , To do that, reporters Kelly Puente and Brandon Richardson, along with the editors at the Post and Business Journal, treated Molina, Dowling and Sommers strictly as public figures worthy of news coverage, not as owners or directors of our board. The law has affected other high-profile projects, including the city of Anaheims plan to sell the land surrounding Angel Stadium to the teams owner. With its Spanish Colonial architecture and small-town feel, it seemed like a throwback in an age of mega hospitals and vast health care systems. There are 600+ professionals named "John Molina", who use LinkedIn to exchange information, ideas, and opportunities. ; Notes: Plaintiff and Appellant: Michelle Molina Attorney: Michele Antoinette Dobson, Brief: Civil case information statement filed. Ambulance response times increased from 5.5 minutes to 5.6 minutes. City officials acknowledge they had reservations about the new management arrangement, which differed markedly from the one COPE endorsed. V.P., Financial Affairs Williampedersen Curtis Dentino, Joseph W Cpa White, When the City Council met on the night of Oct. 15, 2019, to vote on the proposed MWN lease, the refrain from the dais and the audience was that a matter no less important than life and death was on the agenda. Most recently, he served as the Chief Operating Officer of the third largest home warranty company in the United States, a subsidiary of Old Republic International. But ultimately, like MemorialCare before him, Molina says it was the seismic repairs, which the state required to be completed by 2025, that sunk his efforts. To save Community Hospital, Long Beach leaders took a risky gambleand lost. $1 Million - $5 Million. Court documents are not available for this case. She is known fo. Truncated Query In order to provide adequate performance for all users, the SAFER WWW System is designed to return a maximum of 500 matches on a carrier name search. , When MemorialCare, Long Beachs largest health care provider, assumed operations of Community in 2011, the hospital had been struggling for years and was on the verge of being shuttered. Over the past 18 months, At Long Beach City Hall, it was code blue for Community Hospital. In fact, many emergency patients in Community Hospitals service area were already being transported elsewhere. The board is committed to achieving operational excellence and improving the companys financial performance on behalf of our shareholders, more than 20,000 employees and our over 4 million members, he said. All but MWN and Palisades Health Solutions withdrew from the competition, citing the high cost of seismic compliance, according to city officials. Under the lease, Molina would only be entitled to an amount equivalent to its market value, even if MWNs losses are greater. In 1962, Dr. Molina developed Long Beach's first Intensive Care Unit at Pacific Hospital. Molina Healthcare began as a family business and still is, to a large extent. Molina J . I thought it would be a good thing.. Here, based on city and state records, as well as interviews with numerous key players in and out of Long Beach government, is an inside look at the high-risk gambles and financial pressures that led to Community Hospitals final days. Photo by Brandon Richardson. The city said it is still negotiating with the state. At Long Beach City Hall, it was code blue for Community Hospital. By Kelly Puente and Brandon Richardson. He actually took me on and I worked with him. On average, John trades about 14,734 units every 47 days since 2003. Many of its customers are lower income and suffer from chronic health conditions. By re-engineering business processes, improving operations, and leading major re-structures, Kevin has helped build successful, sustainable organizations that thrive in business by continually adapting to the competitive landscape. John Molina owns over 20,480 units of Molina Healthcare Inc stock worth over $125,062,076 and over the last 19 years John sold MOH stock worth over $64,236,579. Then the pandemic arrived, only compounding the costs as it swept across Los Angeles County and the nation. Molina Healthcare Inc (MOH) TRD Staff. Well, mom and dad have always said, begins Janet Molina-Watt, Do what you want. Just months after the lease was signed, Sim and Wu would also leave to focus on other business ventures, John Molina says, including the acquisition of hospitals in Northern California and Riverside by one of the doctors. Mom and Dad were always, of course theyre teachers, so I think it was innate in themthey really fostered this love of learning. The most significant incentive: MWN could terminate the 45-year lease at any time and Long Beach would have to reimburse the company for its operational losses, even if the hospital never saw a patient. This is a risk that we wanted to take and our constituents were asking for.. Description: Appeal dismissed per rule 8.140(b). Our mission at the Long Beach Post and Long Beach Business Journal is to give the news impartially, without fear or favorwords famously written by the publisher of the New York Times in 1896. John Molina Phone Number, Address, Age & Email - CocoFinder John received a Bachelor of Arts degree in Economics from California State University, Long Beach, where he was elected to the Phi Beta Kappa honor society, and a Juris Doctorate from the University of Southern California School of Law. a net Country United States. The company was founded in 1980 by C. David Molina, an emergency room doctor in Long Beach. I enjoyed the problem solving. Johns business and philanthropic connections to Long Beach are numerous and well-known. The about-face, Molina says, cost roughly $2 million without the admission of a single patient. Even with the city covering millions of dollars of his losses, Molina says, hell still be out potentially millions more from his efforts to save the hospital and its emergency services. But the City Council in closed session rejected the idea, directing staff to seek offers from other potential hospital operators. Molina Healthcare also released its first-quarter 2017 results Tuesday, reporting net income per diluted share increased to $1.37 in the first quarter of 2017 compared with $0.43 for the first . The companys shares soared as much as 20% on Tuesday after it said that J. Mario Molina, the companys chief executive and an outspoken critic of Republican efforts to repeal the ACA, and his brother John C. Molina, the chief financial officer, had been fired. Do Not Sell or Share My Personal Information, How to connect formerly incarcerated people with jobs in L.A. County. John's current home is located at Long Beach, CA. John John Molina was born on the 17th of March, 1965. A California s-corporation, owned by John and Michelle Molina and based in Long Beach, California, PeacePartners is staffed by contracted trainers and coaches residing in the over 40 states we serve and is lead by a small in-house staff with Michelle at the helm. 8) SO BE ADVISED MOLINA, I WILL KEEP HITTING OPTION "9" FOR BEHAVIORAL SERVICES, WHICH TIES UP THAT LINE, UNTIL SOMEONE FROM MARKETPLACE PICKS UP THE LINE. Insiders are limited to only officers and/or directors of the company. In December, the new leaseholder closed Community after just 11 months, leaving Long Beach on the hook to repay millions of dollars for the operators losses, meaning the city will likely have to sell the multimillion-dollar hospital property that its owned since the early 1900s. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. Only the transactions in Open Market or Private Sale at the market prices are included. ; Notes: It appearing that the appellant is in default pursuant to Rule 8.140(b), California Rules of Court, the appeal filed March 17, 2021, is dismissed. Our goal is to engage these diverse voices to inspire the exchange of creative ideas and transformative solutions. The co-trustee of two Molina family trusts is listed as owning an additional 17.4% of the company. He says he lost $30 million, an amount the city is now attempting to verify before potentially parting with its 8.7-acre property. John has many family members and associates who include Elsa Molina, Janet Heathcote, Aristides Molina, Marie Alban and Dennis Vazquez. DocketDescription: Default notice sent; no case information statement filed, or statement incomplete. On Tuesday, the company reported its first-quarter results, showing that its total number of insured members jumped by more than 500,000 people to 4,766,000. Other key executives at Molina Healthcare Inc include The deal was confirmed Tuesday evening by John Molina, CFO of Molina Healthcare Inc., and whose Long Beach-based company will be involved in managing the community hospital at 2776 Pacific Ave., a . May 2, 2022. They will remain on Molinas board. If you do not agree with these terms, then do not use our website and/or services. In this week's edition of the Long Beach Business Podcast, the Business Journal sat down with John Molina of Molina, Wu, Network (MWN) to discuss the future of Community Hospital. no insider transaction in Molina Healthcare Inc (MOH). This was clear from the get-go, says Modica, who calls the reopening effort successful., It opened and then it closed, he says. I was never all that interested in the project to begin with, Mario Molina now says. of 4,000 shares. Under the lease, the city would cover those losses by selling the publicly owned Community Hospital property or essentially giving it to MWN. Respondent and Defendant Attorney. Michelle earned her Bachelor's degree in Radio/TV Communication from . Details can be seen in John C Molina's Latest Holdings Summary section. The largest trade John's ever made was selling 700,000 units of Molina Healthcare Inc stock on 24 March 2004 worth over $19,600,000. The estimated Net Worth of John C Molina is at least $189 Milione dollars as of 26 February 2018. Personal Details of Alfred Molina. Dated:; Notes: non-compliance from lasc filed Oct 8, 2021, DocketDescription: Civil case information statement filed. More Have it from start to finish. So, she received her masters in Architecture at California State University, Pomona. Other recent insider transactions involving Molina Healthcare Inc (MOH) include We have estimated John John Molina's net worth, money, salary, income, and assets. In summary, during the past 3 months, insiders sold 4,000 shares of Molina Healthcare Inc (MOH) in total and bought 0 shares, with a net []For more visit https://www.olansi.net Liked by John Molina. Bob also served in leadership positions over Finance and Business Development, helping steer the growth of a company with 20,000 members operating in one state to an industry leader with 4.5 million members and nearly $20 billion in revenue, operating in multiple states. Molina also provides plans through health insurance exchanges. In a statement last week, MWN said it hasnt decided whether it will now pursue the mental wellness campus project because of the possible regulatory hurdles, despite community needs for such services. In the first three months of the year, the company earned $77 million in net income from $4.6 billion in revenue, for a net profit margin of 1.6%. Founding Partner at Pacific6 Enterprises . All Rights Reserved. John received a Bachelor of Arts degree in Economics from California State University, Long Beach, where he was elected to the Phi Beta Kappa honor society, and a Juris Doctorate from the University of Southern California School of Law. Todds current work with Pacific6 involves investment in and development of hotels, food and beverage outlets, multi-family buildings, music festivals, aquaculture, entertainment and media. The company offers to transport its members on free shuttles that not only get them to their doctors appointments, but stop at grocery stores, churches, laundromats and check-cashing stores. Molinawhose Pacific6 Enterprises owns the Long Beach Post and Downtown real estate interestsinsists the demise of Community Hospital had nothing to do with management issues or his favorable lease terms. Todd sits on the board of directors of the Long Beach Convention and Visitors Bureau and the Downtown Long Beach Alliance. The company is a West Virginia Foreign Llc | Limited-Liability Company, which Most recently John sold 20,480 units of MOH stock worth $1,500,774 on 26 February 2018 . Michelle is now married. For the Watt family, as well as her siblings, their connection to Long Beach is special. So, I got a lot of practical experience. When she graduated, she went to work with an architectural firm. Joseph Molina in Long Beach, CA 18 results - Joseph Molina may also have lived outside of Long Beach, such as Bell Gardens, Huntington Park and 2 other cities in California. Davids career began in education. By Jack Smith June 7, 2022. a net Molina-Watt started in college with theatre arts at Long Beach City college. In all, the city received interest from five companies to operate Community Hospital. We are so ingrained in the community and making it the best place it can be and teaching our children the same thing., Janet Molina-Watt Long Beach Molina Healthcare. . Chief Financial Officer Thomas L Tran Then, just weeks later, the state told the hospital to stand down, that its services were not needed. His success results from a comprehensive understanding of the internal and external business environment, exceptional analytical skills, and the foresight to anticipate trends and position companies ahead of their competitors. A short-term lease of Community Hospital Long Beach, shown here on Jan. 22, 2022, is being negotiated while appraisals are prepared as part of an ultimate sale to Molina, Wu, Network. One of the values laid out in the Posts mission statement is integrity, telling the truth even when its hard and even when it affects our bottom line.. Kevin is a business leader with over two decades of experience building teams, developing and executing strategies, creating competitive advantages and driving operational improvements. It has an affiliated registered investment adviser, which serves as the subadviser to an exchange traded fund. . The company cited financial performance for their ouster. John C Molina, Exec. John, with his father and family, built Molina Healthcare, Inc. from a fledgling start-up into a Fortune 200 company, serving nearly five million members and employing over 25,000 people nationwide. ; Notes: Civil filing fee paid by Law Offices of Michele A Dobson. And we were all expected to help out. This case was filed in Los Angeles County Superior Courts, Governor George Deukmejian Courthouse located in Los Angeles, California. The companys stock closed at $59.75 on Tuesday, up $8.95, or 17.6%. The third result is John A Molina Sr age 80+ in San Gabriel, CA in the South San Gabriel neighborhood. The company, for its part, would shoulder any losses above the propertys appraised market value, which, in 2018, was $17 million. And with that, a warning by the economic team before the City Councils vote had come to pass. Now, in hindsight, Im sure people are going to say, Well, it was too big of a risk and we shouldnt have taken it, Price says. Our investigative journalism is funded in part by readers like you. He says he mostly wanted to team his brother with Sim and Wu, the latter of whom operates multiple Southern California hospitals. A closed Community Hospital on April 20, 2022. So, there was never any pressure to become a doctor, to go into the family business.. He is popular for 1 - Nenokkadine (2014), Baahubali (2015 . Molina says he made a mad dash to hire 150 nurses and medical staffers, stock pantries and buy personal protective equipment and other supplies, some of which were marked up by more than 500% because of shortages and high demand. For the familys legacy, Molina says. As for concerns that other emergency rooms would become more crowded with an influx of new patients, the numbers again told a different story. John Molina is 57 years old today because John's birthday is on 10/23/1964. 2004-2023 GuruFocus.com, LLC. Ste 5047. it was always about serving ourselves but serving others at the same time.. INC., ONE GOLDEN SHORE DRIVE, LONG BEACH, CA, 90802. We were hoping the city would do everything they could to save it.. Molina says he was shocked by the numbers because of the apparently strong public support and a feasibility study that showed high demand for the hospitals services. Thank you, eat.play.love! It's a life that has grown out of her ability to follow her passions, always encouraged by her parents. You might contact John C Molina via mailing address: C/o Molina Healthcare, Inc., One Golden Shore Drive, Long Beach Ca 90802. Were sure hes a very busy executive, but you have to stop and listen as he speaks admiringly about his parents, David and Maria Rose Molina. As a charter member and the current Chair of the Board of Directors for the Aquarium of the Pacific, John is intimately involved in the $53 million Pacific Visions expansion of the Aquarium. Rich L.A. homeowners are snapping them up, Musks master plan for Tesla is built around sustainable energy economy, What to expect from Elon Musks third master Tesla plan, Drugmaker Eli Lilly to slash insulin prices, Stocks slip as stubborn inflation raises rate expectations, The chance of a lifetime: Five friends ski the tallest mountain in Los Angeles, Best coffee city in the world? Enter John Molina, whose late father founded Long Beach-based Molina Healthcare, one of the countrys largest providers for Medicaid patients and others with government-subsidized health care. Pacific6 will continue to build on this portfolio of projects as new opportunities and relationships develop. According to the SEC Form 4 filings, John C Molina has made a total of by Pierce Nahigyan, Staff Writer November 5, 2018. Todd holds a Bachelor of Arts degree in philosophy from UCLA and a Juris Doctorate from Southwestern University School of Law. Supernaw says he was so committed to getting the hospital reopened that he used $250,000 from his office funds at city staffs request to pay for critical elevator repairstaxpayer money that, in the end, would be lost to the effort. The company has tried to control costs by limiting its networks of doctors and hospitals, as well as sending members to its own clinics. Financial results are summarized below: . Would not someone say, He [Molina] is going to walk away from this anyway? Wouldnt you think that statement would come up a few times? The most recent stock trade was executed by Marc Russo on 12 December 2022, trading 1,500 units of MOH stock currently worth $526,755. Cancellation and Refund Policy, Privacy Policy, and President and CEO Joseph Zubretsky. Under pressure to get a deal done, the Long Beach City Council approved a highly unusual lease agreement that shifted the financial risk to the city and resulted in a worst-case scenario. The reporters went through normal channels to arrange interviews with the owners and directors, i.e., there was no expectation of special access; Interactions and interviews with sources were preceded by a discussion of on-and-off-the-record protocols, as is standard practice in reporting; Interview questions were chosen without regard for any potential impact to the relationship between our parent company and our publications; It was made clear that the owners and directors would not receive an advance copy of the report and would not be allowed to make editorial changes. 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