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Young announces state to provide $1 million emergency funding

January 12, 2014

SILVER CREEK — Lake Shore Hospital will see some temporary financial relief....

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(38)

Cybers

Jan-14-14 6:51 PM

Where is Lake Shore hospital going to get the 1 million to pay the State back if they choose to use the funds. Young failed to tell everyone it is a loan!

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Cybers

Jan-14-14 6:51 PM

Where is Lake Shore hospital going to get the 1 million to pay the State back if they choose to use the funds. Young failed to tell everyone it is a loan!

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Cybers

Jan-14-14 6:50 PM

Where is Lake Shore hospital going to get the 1 million to pay the State back if they choose to use the funds. Young failed to tell everyone it is a loan!

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STUPADASO

Jan-13-14 10:53 AM

WHERE WAS ALL THIS HELP WHEN PETRIS WAS CLOSING???

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Captain

Jan-13-14 8:20 AM

MatthiasJ: You are correct. There's a HUGE difference between filing Chapter 11 (reorganization) bankruptcy & Chapter 7 (liquidation).

Who were you referring to when you wrote: "If you read what was written you would know that that they did not file Chapter 7 bankruptcy, as you all are implying..."

I never said or implied that LSH filed Chapter 7, and I don't recall anyone who has, either.

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Christopher

Jan-13-14 7:27 AM

And you of course when confronted by demands to discuss facts do an end around, change the subject and give another non-answer. I rest my case.

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Captain

Jan-12-14 10:03 PM

THANK GOD!

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joew

Jan-12-14 8:37 PM

The word attack is key Pauly,you attack like a thug(reminiscent of what happened in Wisconsin a while back) and therein is your problem and again that is why you were edited. Think about that! Now your trying to weasel out of your gutter remark by comparing it to safety standards,are you kidding me? I have no need to call you names,your own words are an indictment by themselves Pauly. Try being civil,you'll be a better person for it. Trying to point out the error of your ways is obviously a exercise in frustration. I have no further need or desire to answer your false malicious statements or attacks.

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Christopher

Jan-12-14 8:07 PM

Oh, and by the way, when it comes to big business, I absolutely believe they don't care if their decisions cause people to die. It happens every day, and always has. It took LAWS to FORCE large businesses to institute the most rudimentary safety standards. They were not done willingly. The people who advocated for those standards the most were sometimes beaten up or killed by company thugs. That's HISTORY Joey, FACTS! Start with the coal industry, and work your way around from there.

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Christopher

Jan-12-14 8:03 PM

See Joey, there's yoiur lies again. My commentary was edited SOLELY because the Observer said my remarks about a certain medical group was an attack on a local, for profit business, and he wouldn't allow that anymore than he'd allow an attack on any other local business, like a restaurant or a car dealership. It had nothing to do with what YOU claim it does, and you know it, so, you're a liar. I said NOTHING untrue or not provable. I invited you to check out SPECIFICs, and of course you didn't. You're a joke and a blowhard, as well as a liar.

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joew

Jan-12-14 7:07 PM

You mean the same "fact" as you saying that people don't care that some will die if the hospital closes? Those kind of "facts"are reprehensible and are designed to inflame people and those kinds of comments I did attack for good reason. That is gutter talk you would expect from a thug. Those kinds of remarks are why your commentary was edited Pauly. You and the other two amigos continue to write checks with your mouth that your butt can't cash! Sen Young's letter was civil and respectful in a professional way as opposed to your thug based comments.

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Escapee

Jan-12-14 6:51 PM

Jo1952, Look around, the problem is not isolated at the Lake Shore Hospital facility.

The problem is the state and local economy, not the hospital. The cost of government has destroyed most of a once thriving economy, what isn’t dead yet is currently being destroyed. The problem is only getting worse. Agreements like the Triborough Amendment guarantee that the cost of government will be taking an ever increasing percentage of any private industry paycheck. The scales have tipped and private industry can no longer support an ever-expanding cost of government. Government is inherently inefficient and is not capable of replicating the productivity of private industry. Thus, as the increasing cost of government kills private industry, the problem worsens.

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MatthiasJ

Jan-12-14 6:48 PM

I love all these people who pretend to know what they are talking about without looking up the correct info. The current LHS board is minus the thieves from UPMC is committed to saving Lakeshore. If you read what was written you would know that that they did not file Chapter 7 bankruptcy as you all are implying but filed under Chapter 11 for time to reorganize and become solvent as did GM and Chrysler and they had a significant amount of time to get it done and repay loans if you recall. Huge difference between Chapt 11 and Chapt 7. More effort needs to be put forth to derail UPMC's multi Billion dollar empire hiding behind the guise of being non profit all the while hiding several profit making companies within it's structure.

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jo1952

Jan-12-14 5:29 PM

escapee, what does the tri-borough agreement have to do with th Lakeshore hospital? It only applies to government employee contracts. And if you get rid of it, those employees will be able to go on strike. That is what they gave up in order to continue their contracts during negotiations.

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Christopher

Jan-12-14 5:17 PM

Apparently Joey, you have never heard of, or understood it if you have, "The Peter Principle"! Examples of that abound throughout private and public employment, especially the Military. It's obvious that all you understand or judge people by is "rank". How sad. And, my continued use of the word liar relative you is because it's a fact. Any so-called support on these pages by you for Lakeshore Hospital is galling, at best, based on your continuing attacks on anyone trying to keep it an issue, especially if those attacks are based on a lack of Observer coverage.

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rumblefish

Jan-12-14 4:45 PM

PC, you failed to mention other favorite tactic of commenter cop, has to do with a 3rd grade mentally that must be what he referring to when he talks about "grade"

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rumblefish

Jan-12-14 4:27 PM

we wonder if comment cop has a picture of the Observer staff next to the one of his favorite judge and does he pay homage to each daily

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joew

Jan-12-14 3:16 PM

Pay grade is a step within a compensation system that defines the amount of pay an employee will receive. The pay grade is generally defined by the level of the responsibilities performed within the job description of the position and the length of time the employee has performed the job. Very common practice within private industry and civil service Pauly of which you obviously have no clue. I guess we can as well assume from your other statement that there is no deadline for copy to be ready for publication and to go to press in order to meet distribution deadlines correct? Continuing to use the word liar is without doubt an example of you innate intelligence!

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Christopher

Jan-12-14 2:48 PM

I don't have a pay grade, Joey, I'm retired! It's certainly no surprise, however, that you'd equate a person's "pay grade' with their innate intelligence. That's why the armed forces screw up so much.

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Christopher

Jan-12-14 2:46 PM

Often times, the differences between the words "reason" and "excuse" are strictly in the eye of the liar...um, excuse me, the "beholder".

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Captain

Jan-12-14 2:21 PM

Has anyone heard of retention bonuses (usually 15%) given to top execs AFTER the business files bankruptcy? Believe it or not, it's perfectly legal, and the reasoning behind it is to "discourage" top execs from "bailing out" while the business tries to emerge from bankruptcy.

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joew

Jan-12-14 1:45 PM

So again Captain,what time did you leave the rally and at what time do you think the paper needs to go to press for the Sunday edition? Easy question,answer????????

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joew

Jan-12-14 1:35 PM

Neither an excuse nor a apology but rather a reason Christopher,obviously something way above your pay grade to understand.

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Escapee

Jan-12-14 1:34 PM

This isn’t a problem that is limited to Lake Shore Hospital and $1million is not going to scratch the surface. If she really wanted to start helping the area, think about what is killing the local economy. Spending more tax dollars is not the solution. Repealing the Triborough Amendment would be a good place to start.

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Captain

Jan-12-14 1:32 PM

Dcron: The $1M in emergency funding will be used toward future operating expenses. Creditors get paid when the bankruptcy case is settled, and they usually settle for less, but not always.

I say this b/c AB's pending offer could very well be worth more than the estimated value of LSH's liquidated assets, but less than LSH's outstanding debt. The court's ONLY duty is to make sure that creditors recover as much money that's owed. Keeping the hospital open is NOT a priority of the court.

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