The company has tried to control costs by limiting its networks of doctors and hospitals, as well as sending members to its own clinics. Growing up, even before the family business, it was always an unspoken rule that we support each other. That meant going to their sisters drama performances and their brothers basketball games. We just need to improve the results.. Molina added that the business grew because his father believed he could, despite people telling him that he couldnt do it. We located 74 people named John Molina in 25 states. Long Beach leaders were well aware of the challenges confronting Community long before their unprecedented lease deal with the new operatorMolina Wu Network, or MWN. "So, there was never any pressure to become a . Molina Healthcare began as a family business and still is, to a large extent. In recent years, Communitys emergency department had not been equipped to treat patients with numerous urgent needs, including acute heart attacks, strokes and severe traumas. So read the full article for details. Any further delay, they said, could jeopardize the wellbeing of area patients who would have to be transported to more distantand potentially more crowdedemergency rooms. We needed to approach and evaluate this story like any other. Bishop, now CEO of MemorialCares Long Beach campus, says small hospitals frequently operate at a loss but are subsidized by their larger parent companies. The three-member board of directors for PCM consists of John Molina, Brandon Dowling (chief of staff for Pacific6) and David Sommers, the former publisher of the Post and Business Journal who recently stepped away from that role to become chief operating officer for Pacific6. You may occasionally receive promotional content from the Los Angeles Times. Janet Molina-Watt knows something about taking a different path in life. Watson helped oversee Medi-Cal as chairwoman of the Senate Health Committee. He graduated with a Bachelor of Education, Honors Degree, in England, represented Great Britain at the International Olympic Academy in Athens/Olympia and was invited to California State University, Long Beach to lecture on the Pre-Modern Olympic Games. John is related to Matthew M Molina and John A Molina as well as 3 additional people. Its called the Little Owl Preschool in Long Beach. For nearly 35 . Under the lease, the city would cover those losses by selling the publicly owned Community Hospital property or essentially giving it to MWN. Molina says soaring construction costs during the pandemic pushed the initial retrofit estimate of around $50 million to $79 million. They wanted us to read., Exploration was also important for the Molina family. Under Review. sale John C Molina is the Exec. He says the pandemic drove costs sky-high for seismic repairs, staffing and equipment. Janet Molina-Watt. Select this result to view John M Molina's phone number, address, and more. Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. The council voted 7-0 to approve the lease. Lived In Huntington Beach CA, Long . Just like we did at home. From helping out at Molina Healthcare to Interior Design to starting her own architectural firm with a classmate, Janet Molina-Watt took a detour into education. A refreshing cup of iced honey lemon (w/o sugar) works wonders after a long day of shoot! Kevin earned a Bachelor of Arts degree in Economics from Stanford University. The fact of the matter is, when Memorial closed the emergency room, they were seeing about 75 patients a day, Molina says. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. ; Party Attorney: Plaintiff and Appellant: Michelle MolinaAttorney: Michele Antoinette Dobson. They have also lived in Long Beach, CA and Los Angeles, CA. Purchased in November 2017 by Pacific6, an investment group made up of six Long Beach entrepreneurs, the hotel is slated to open in 2020. . John John Molina's source of wealth comes from being a boxer. The Molina Family in Molina Healthcare, Inc. (Replay) Education Equals Opportunity Too: Teaching Life Lessons. Cardiologist Mike Vasilomanolakis, who came back to Community to serve as vice chief of staff, says the hospital was forced to hire nurses from registries, with some charging hundreds of dollars an hour. But theyve hit a snag, Review: A reimagined Secret Garden fails to flower anew at the Ahmanson Theatre, TikTok to set default daily time limit of 60 minutes for minors, Column: While workers struggled during the pandemic, CEO pay went up, up, up, Elizabeth Holmes cites her new baby as a reason she should avoid prison for Theranos scam. 2020-06-23, Los Angeles County Superior Courts | Labor | Molina J . The 57-year-old boxer was born in Puerto Rico. If you do not agree with these terms, then do not use our website and/or services. US$792 million (2022) Total assets: US$12.31 billion (2022) Total equity: . The hospital did not, for example, have a basic imaging device known as a C-arm, used for X-rays of bone fractures. John Molina's Pacific6 scores $55M financing for LB luxe landmark. 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. Any unexpected high cost of the retrofit, it said in its lease analysis, could lead to a new operators failure to keep the hospital open. Become a Long Beach Post member today and help keep vital local news alive in Long Beach. Insiders are limited to only officers and/or directors of the company. He opened a private internal medicine practice following a preceptorship at St. Mary Medical Center in Long Beach. During the past 18 months, 453,697 shares of Molina Healthcare Inc (MOH) were sold and 0 shares were bought by its insiders, resulting in a net Hours: 8:00AM - 5:00PM. The medical staff had to hand-write its notations, which slowed down Communitys operations and made everyones job more difficult, the cardiologist says. 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. According to John Molina, it was expected that the children would work hard and that they would achieve the highest of their potential. SAFER has returned the first 500 matches found for your search. Removing the brothers could make such a deal easier, analysts say. He actually took me on and I worked with him. Our goal is to engage these diverse voices to inspire the exchange of creative ideas and transformative solutions. The two brothers will be replaced by Joseph White, currently the companys chief accounting officer. Our reporting is free to read, with no paywalls or limits on the number of articles you can access, but it takes time and money to report stories like this. 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. That no-bid contract, considered then to be worth $400 million, became controversial after Molinas application listed state Sen. Diane Watson (D-Los Angeles) on its board of directors. Long Beach, CA. a net He has guided the successful merger and acquisition process of several subsidiary companies that resulted in new business and revenue expansion. In 2018, Molina, a former chief financial officer of Molina Healthcare, embarked on an ambitious agenda of acquisition and development in Long Beach. 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. John and the team felt very confident regardless of the change, the mayor says. Do Not Sell or Share My Personal Information, How to connect formerly incarcerated people with jobs in L.A. County. As Chief Financial Officer, John oversaw all financial activity including corporate finance, investor relations, accounting, treasury, and actuarial functions and was responsible for executing the expansion efforts of Molina Healthcares business development, mergers and acquisition program. 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. John Molina, the former chief financial officer at Molina Healthcare, has resigned from its board of directo The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. nearly $20 million in cash and stock and John Molina is entitled to a . Joseph Molina Born: May 16, 1958 (age 64 years), Long Beach, California, United States How . Insiders trading at Molina Healthcare Inc. . Country United States. Over the last 20 years, insiders at Molina Healthcare Inc have traded over $383,046,036 worth of Molina Healthcare Inc stock and bought 41,500 units worth $4,228,795 Still, pursuing this storyand not knowing what our reporting would uncoverput us in the position of potentially publishing unflattering information about the people who ultimately control our parent company. The family began looking for schools closer to them with the same philosophy as their first sons school. 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. sale Court records for this case are available from Second Appellate District. They had incredible work ethic, both of them. The board also named Dale Wolf, a director, as the companys new chairman. Joseph Molina salary income and net worth data provided by People Ai provides an estimation for any internet celebrity's real salary income and net worth like Joseph Molina based on real numbers. Then, just weeks later, the state told the hospital to stand down, that its services were not needed. 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. Communitys losses, he says, were covered by MemorialCares four other hospitals and dozens of urgent care centers. According to financial filings, J. Mario Molina owns 2.86% of the company, while John Molina owns 2.33% of the shares. Wherever the appraisals land, its unclear how Long Beach would reimburse MWN if, as the state contends, transferring the property directly is off the table. Based on ownership reports from SEC filings, as the reporting owner, John C Molina owns 1 companies in total, including DocketDescription: Filing fee. Melody Petersen is an investigative reporter covering healthcare and business for the Los Angeles Times. Past performance is a poor indicator of future performance. John has many family members and associates who include Elsa Molina, Janet Heathcote, Aristides Molina, Marie Alban and Dennis Vazquez. 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. Todd holds a Bachelor of Arts degree in philosophy from UCLA and a Juris Doctorate from Southwestern University School of Law. DocketDescription: Default notice sent; no case information statement filed, or statement incomplete. 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. Molina Healthcare is on the brink of major layoffs, the Press-Telegram has confirmed. Other transactions such as conversion of derivative security or exercise of options are not included. The Judges overseeing this case are ANDREW C. KIM, MARK C. KIM and MICHAEL P. VICENCIA. He is known for being a Boxer. 699 others named John Molina are on LinkedIn We had a great preschool for our first son and then when our daughter was ready to go and I was pregnant with our third one and I just couldnt drive that far.. The company cited financial performance for their ouster. It was the other two parties that were supposed to be the operators, Molina says of Sim and Wu. A determined legion of save our hospital stakeholders kept the pressure on at City Hall to make that happen. Net Worth in 2020. 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. Analysts have long viewed Molina as a potential acquisition target of a larger insurer. Mayor Robert Garcia, in an interview, said Molina offered assurances he could handle the job. ; Notes: Appellant (3/17/2021 by Michelle Molina ) is in default for failure to file a Case Information Statement pursuant to California Rules of Court, Rule 8.100(g). White will serve as chief financial officer and interim chief executive while the board seeks a replacement for the top post. Had COVID not hit and the costs not gone up so much, then it would have been a completely different ballgame, says Molina, who has proposed turning the hospital into a mental health campus that would not require expensive seismic repairsa plan that is now in jeopardy as well. So, I got a lot of practical experience. When she graduated, she went to work with an architectural firm. ; Notes: Plaintiff and Appellant: Michelle Molina Attorney: Michele Antoinette Dobson, Brief: Civil case information statement filed. 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? The information we shared in the press release is all there is to say, he said. So, there was never any pressure to become a doctor, to go into the family business.. That should be enough to stop everyone in their tracks., It wasnt. And I think thats one of the things they left us with was We can never just rest on our laurels. City staff will respond to voicemails made after business hours within 24 hours. As of 26 February 2018 John still owns at least 372,930 units of Molina Healthcare Inc stock. Only a trickle showed up, despite the outcry among former employees and others in the community that the hospitals services were essential. We have estimated John John Molina's net worth, money, salary, income, and assets. Its a great franchise, Wolf told the analysts. ; Notes: Notice of appeal filed 3/17/2021 by Michelle Molina, DocketTrial Court Name: Los Angeles County Superior Court; County: Los Angeles; Trial Court Case Number: 18LBCV00047; Trial Court Judge: Kim, Mark, Los Angeles County Superior Courts | Family | For over 30 years, David has specialized in the creative direction and production of marketing and education materials on all forms of media. 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. On a conference call Tuesday afternoon, analysts asked Wolf why the board had removed the executives so abruptly. There are 600+ professionals named "John Molina", who use LinkedIn to exchange information, ideas, and opportunities. John is related to John Arthur Molina and Hilda G Molina as well as 3 additional people. Over time, David transitioned his abilities as an educator to reach broader audiences first as the Editor of Southern California Style Magazine, and then with Small Island Multimedia, his own advertising agency. City Manager Tom Modica says the City Council was driven by a higher calling to save the hospital, even if that meant possibly losing money or the property itself. Industry Health Care Equipment & Services. Mom was very involved in the PTA and while they never expressed disappointment if we didnt do well; they also didnt applaud us for doing well.. He has helped develop many forward-thinking enterprises and successful commercial properties in the city. by Business Journal Staff March 18, 2019. Robert Bob Gordon joins Pacific6 with over two decades of experience in operations management, having served in a variety of senior roles at Molina Healthcare, a Fortune 200 managed care organization. As his biography states, the lessons learned from his parents have served his siblings and him well. John A Molina, 51. Other recent insider transactions involving Molina Healthcare Inc (MOH) include Michelle earned her Bachelor's degree in Radio/TV Communication from . 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? 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. Fundamental company data provided by Morningstar, updated daily. Their attention was elsewhere, he says. Headquarters Long Beach, California. Molina Healthcare Inc executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens. He says he lost $30 million, an amount the city is now attempting to verify before potentially parting with its 8.7-acre property. 2021-07-20, Los Angeles County Superior Courts | Probate | Among other things, he says he learned that the nearly 100-year-old building was suffering from years of deferred maintenance and structural problems, some of which would have to be fixed before the state would authorize its reopening. J. Mario Molina, left, president and CEO, and John Molina, right, chief financial officer, of Molina Healthcare in their Long Beach office in 2010. and And the city responded, with crushing consequences. sale John Molina founder, Pacific6, speaks at the grand reopening of Community Hospital Long Beach in Long Beach on Thursday, May 27, 2021. We were just supposed to be the citys liaison.. What did Disney actually lose from its Florida battle with DeSantis? He believed that being smaller, and focused solely on Community, would help him revive the hospital within a year of taking control. And all of a sudden, theyre done.. 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. Most recently, he served as Senior Vice President where he had oversight for an array of corporate operations, including Business Services, IT, Human Resources, Enterprise Project Management, and Corporate Facilities. 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 . JOSE ADOLFO SALAZAR VS EAT GOOD STUFF INC., ET AL. Then, she found a stepping stone to her calling at California State University, Long Beach when she met an interior designer who was doing some work for her parents. In all, the city received interest from five companies to operate Community Hospital. May 03, 2022 10:00 AM. 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. As of 2022, John John Molina's net worth is $100,000 - $1M. The brothers will remain on Molinas board, the company said. Then the U.S. government blindsided it, A $150,000 executive protection dog? Eighth District Councilman Al Austin, for one, said the reopening of Community Hospital shouldnt be about money, its about human lives., Added Councilwoman Price: Minutes matter.. Then the pandemic arrived, only compounding the costs as it swept across Los Angeles County and the nation. 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.. The company picked by the City Council to operate Community was splintering, ultimately leaving only one of four original partners, Long Beach businessman John Molina, to manage the hospitals affairs. The co-trustee of two Molina family trusts is listed as owning an additional 17.4% of the company. C/o Molina Healthcare, Inc., One Golden Shore Drive, Long Beach Ca 90802. Puerto Rican boxer and celebrity, IBF and WBO Super Featherweight Champion, who is known for being a socialite. To avoid the costs, Bishop says, MemorialCare proposed closing the acute care hospital and opening a mental health facility, which would not require the seismic fixes. Molina Healthcare Company Stats. sale Click here to see the complete history of John C Molinas form 4 insider trades. All but MWN and Palisades Health Solutions withdrew from the competition, citing the high cost of seismic compliance, according to city officials. What that means in practice: To guard against conflicts, we are steadfast in adhering to the long-established code of ethics of our profession, which includes independence, transparency, and above all, to boldly seek truth and report it. The about-face, Molina says, cost roughly $2 million without the admission of a single patient. A spokeswoman for the Long Beach, Calif.-based insurer declined to say when and why Miller left the company because Molina doesn't comment on personnel matters. PalacioMagazine.com is a multimedia digital platform featuring the stories of People of Color in an increasingly multicultural America. 62,420 shares on February 22, 2018, which V.P. Most recently John sold 20,480 units of MOH stock worth $1,500,774 on 26 February 2018. Lee based her conclusion on a lease analysis prepared by the citys Economic Development Department. On average, John trades about 14,734 units every 47 days since 2003. For the familys legacy, Molina says. Youre better off making it with your brain (be)cause it will last longer., John Molina describes his parents as always available to help them with their homework or school projects. J. Mario Molina succeeded his father, C. David Molina, as CEO in 1996. 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. 7) Place nearly two dozen calls to Molina Marketplace, no one ever answers, (888) 560-5716, (866) 472-4585, (855) 322-4076 at all business hours. I want to do more than that. And with that, a warning by the economic team before the City Councils vote had come to pass. Dallas-Fort Worth . of 375,000 shares made by Joseph M Zubretsky He loves to cook and entertain he developed a unique psychology-based career development model and invented a punctuation mark. The estimated net worth of Molina J Mario Md is at least $76 Million dollars as of 2023-02-16. But it did open and that was the goal the council wanted., Reporters:Kelly Puente and Brandon RichardsonEditor:Joel SappellExecutive editor:Melissa EvansLayout and design:Dennis Dean and Candice Wong, Community Hospital property must be offered to affordable housing developers, state says, MemorialCare Health System takes over as operators under new lease agreement with the city , A MemorialCare seismic study identifies exact scope and location of active fault line under property; health provider determines hospital is not viable under state regulations, City staff officially decline MemorialCare's proposal, MemorialCare closes hospital; city works to find new operator, State officials approve seismic compliance extension through January 2025, City signs lease with Molina Wu Network to reopen Community, Community reopens for transfer patients amid COVID-19 pandemic, Emergency department reopens to walk-in patients with 20 beds, City officials, community leaders and health professionals celebrate the reopening of Community Hospital, MWN announces impending closure of ER; unveils plan to convert facility into a mental health campus, ER stops accepting ambulance deliveries, City Council amends lease, ending acute care requirement; begins exploring new options for the property and begins negotiations to possibly sell the property to MWN to satisfy lease obligation, State informs city the property must be offered to affordable housing developers, citing 2019 law. 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