After months of shopping for investors, the financially distressed hospital's last-ditch effort to survive was successful as members of its board and its foundation's board agreed to potentially dip into their own pockets to guarantee a loan.
Officals agreed to sell the hospital to B. Reddy Dandolu, a cardiovascular surgeon with the University of Pennsylvania Health System. They also secured a $200,000 loan from Hammonton to help cover the $500,000 payroll shortfall.
But to get that money, the Town Council said, the hospital had to find at least 10 people from its board of directors, its foundation's board of directors or the general public willing to help cover the cost of the loan if it defaults. Five people on each board agreed to back the loan.
"It's a way of holding their feet to the fire," said Mayor John DiDonato, who pledged the first $20,000. "And it would be a show of good faith to our taxpayers, that the people responsible for the negotiations are willing to do what it takes to make this thing work."
Hopefully, everyone will get paid and the hospital will be saved. A statement in the Press said "but with the exception of one employee, all the staffers agreed to continue working through the weekend in order to give the board enough time to save the hospital" The professionalism and dedication of the staff should be commended.For the full article, click to see the Press of Atlantic City article here.
19 comments:
Is it true Bruce Crowe for MAYOR. WOW and the hospital is saved too. GOOD LUCK MAYOR CROWE
Good Luck to the hospital!!
As for Mayor Bruce "the toe-sucker" Crowe, HAAAAAHAAAAHAAA!
How's that gonna work on the ticket?
Chasey & Crowe
or
Forman & Crowe
Either way it's a losing combination.
They're really scrapping the bottom of the bucket this year.
If the Repubs back the "toe -sucking cell phone abuser", that will be a real punch in the face for Forman. I see another file being started. That briefcase must be getting pretty heavy.
Re 2:57pm
I don't think it's true. I'm going out on the limb, but I would think that the Repubs. have more sense than to run someone with so much bad history on record.
Then again,he looks real good compared to Chasey or Forman. Maybe Crowe will run with someone new. We'll see soon.
Chasey and Crowe? It seems so "retro".
Why not just cut out the middleman and run Schlue?
Chasey and Crowe would mean a more normal campaign. Stealing opponents' political signs, etc., that sort of thing. (But no outright trying to run down the competition.)
Oh no, not Crowe!
We want to keep you guessing
Janet will not run for re-election. Many Republicans would not vote for her. She only won last time by the skin of her teeth. It would be a humiliating defeat for an incumbent mayor.
Re 9:31
We're not concerned, just amused.
It makes no diference if any of the people mentioned run. It's just the same old pail of putrid prospects.
2:24 Y'all seem mighty concerned to me !Go Bruce!
How many times can one scrape the bottom of the barrel and still expect to come up with something to sell?
Chosing Bruce Crowe makes sense if you realize Forman would almost certainly challenge and fight anyone else who might try to take her slot n the primary. Not only is "rough and ready' Bruce tough enough to take her on he has a powerful guardian angel who certainly wont tolerate Formans attempts to derail Bruces nomination.Chasey can just sit back and let these guys close the door on her ex adopted sister.Meanwhile Bill kennedy must see the handwriting on the wall. He'll lose both Deputy Mayor and the police department.
How do you get one of those powerful guardian angels? I would love to have one flying around me.
Such Drama over such a small election. You would think the job paid alot of money ,benefits or they would get something from it other than the adulation of a site such as this !Go Bruce
You don't want that kind of Angel.
You would have to sell your soul.
Re 8:09 pm In the million to one chance that Chasey and Crowe made it in, I think they would leave him in Public Safety. They would like to get all the dirt on the
Police Dept. plus he's not smart enough to do anything else. What has he even done in this Dept.? I wouldn't consider squashing tickets for firetruck drivers or punching citizens or entering dead peoples' homes illegally part of his official duties.
The only reason he hangs around the cops and the court is so he can pick up the gossip and report it to the Queens and anyone he starts a conversation with.
Its apparent that Janet would be "crow-bait" if she decided to run this year.
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