Update 3/5/2009 from a good source:Yesterday’s hospital authority was fairly brief, as the only action taken was to introduce the budget so that it could be sent to the Local Finance Board for review. The $9.7M refi of the original $52M bond issue was a 6 month or one year note that is coming due soon and will be refinanced with a ten-year bond issuance.
The budget application to the LFB was due on November 1, 2008 (60 days before the start of the new fiscal year) but has been delayed because of “fiscal uncertainties” as the CFO put it.
New COO Spiros (?) was not introduced at the meeting. I asked Holzberg about him after the meeting. Spiros will be hired as COO for a few months while Holzberg remains CEO. After a transition period, Spiros will be named CEO and Holzberg will stay on as a consultant.
Authority Chairman James Caulfield confirmed that he is leaving but will remain until construction of the new ER has been completed.
The meeting lasted all of fifteen minutes.
Original Story:
Here is a an update from a very trusted source of mine:
I’ve just been told that there will be an emergency budget meeting of the Hospital Authority tomorrow at 4pm. The new CEO, Holzberg’s replacement, will be there.
My Comment: Why 4PM? Isn't there any thought of accommodation for those who have to work? Hoboken being the bedroom community that it is has the majority of those still employed working outside the City. It just makes it very hard for those who want to be informed to make it to meetings when the time is too early and the date coincides with a City Council meeting. ◦
