Archive for Thursday, March 1, 2007
Senator suggests selling KU Hospital to fund $660M in university repairs
March 1, 2007
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Topeka — A state legislator wants to sell Kansas University Hospital and use the proceeds to pay for repairs at regents universities and boost the state pension system.
"We have an opportunity to solve two problems that are plaguing our state," Sen. Chris Steineger, D-Kansas City, said Wednesday.
Steineger said independent analyses show that KU Hospital has a market value of at least $800 million.
Lawmakers face an estimated $660 million in deferred maintenance and repairs at the six regents universities. Legislative leaders say they believe a $100 million per year increase for maintenance would eventually resolve the backlog of projects.
The Kansas Public Employees Retirement System has a $5.1 billion gap between the value of its assets and its future pension obligations.
The sale of the hospital would complete a privatization process started in 1998 when the Legislature split the hospital from KU Medical Center, Steineger said.
He said he hoped legislators would "think outside the box" and consider his measure. He said most hospitals in major cities are owned by private entities or nonprofit organizations. But he conceded the idea would likely run into opposition.
Under his plan, the state would retain KUMC.
"Once you get past the emotional attachment (to KU Hospital), it's just a business decision," Steineger said.
Rep. Paul Davis, D-Lawrence, opposes the plan.
"KU Hospital is an important resource to the state and critically involved with the medical center," Davis said.
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1 March 2007
at 1:35 a.m.
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fletch (Anonymous) says…
This logic ranks right up there with “if you chop all the trees down, you don't have to worry about forest fires.”
1 March 2007
at 8:14 a.m.
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consumer1 (Anonymous) says…
My concern wraps around distrust of the administrators of ku, kumc. My fears are that we the taxpayers will fund this 600 Million dollar “save the building” program and then in about 3 years we will be asked to pay more taxes because the original estimates were not enough. I beleive it is time to start holding our leaders accountable for the money they spend. AND I don't mean by some political watch dog group who we can't trust anymore than our administrators or legislators. I also fear this money will be reassigned to pay high wages and hidden under some bogus building expense clause. Buildings are being built cheaper with shoddy materials but cost more and don't last as long? Why is this??? bad leadership.
1 March 2007
at 8:35 a.m.
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mommaeffortx2 (Anonymous) says…
What the heck? To me this just seems like digging a bigger hole, true I am no brainiac, but this article just reminds me of someone taking a loan out to pay that loan then getting another to pay the second and so on and so on.
1 March 2007
at 8:41 a.m.
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OldEnuf2BYurDad (Anonymous) says…
KPERS needs to bail ITSELF out. Selling our university's facilities so we can fix Topeka's mis-management problems?
“Let's cash in the kids' college funds so we can pay the mortgage.”
When you have to start taking family heirlooms to the pawn shop to pay your bills, you know you've made some major mistakes along the way.
1 March 2007
at 8:41 a.m.
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The_Original_Bob (Anonymous) says…
Dig a bit deeper into this… at this moment KU and KUMC are engaged in an all out war with each other.
1 March 2007
at 9:36 a.m.
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moderationman (Anonymous) says…
Consumer 1 — Perhaps you are getting shoddy buildings that don't last as long because we always take the lowest bid. Cheapest is not always the best.
1 March 2007
at 9:49 a.m.
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consumer1 (Anonymous) says…
Moderationman. I agree. The bidding system has flaws. From my experience in it, because it is a state agency, the cheapest bid is still way over inflated. Then the cheap materials and shoddy work falls apart in a couple of years. Why do our legislators continue to be blind in this matter. I do suppose though, integrity of the builder comes into play as well. I mean, even if the state chose a builder who has a reputation for quality and fairness, how long would it be before they also put profits above quality and were back to square one. My thoughts are, building should have a guarentee on them. For crying out loud, they cost millions of dollars! can't we get some 5 year maintenacne program included as a guarentee from the builder? I know they would then build that cost into the bid, but????
1 March 2007
at 10:21 a.m.
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Godot (Anonymous) says…
Stowers is going to get that hospital one way or another. Why not sell it to him for a nice, big price, rather than let him just take it over?
1 March 2007
at 11:46 a.m.
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ed (Anonymous) says…
KU Hospital and KUMC must completely sever ties.
It is no surprise that KUMC wants to be a top academic institution in the world.
It is no surprise that KU Hospital wants to be one of the biggest and best hospitals in the region.
Unfortunately, this creates a conflict of interest. The smartest thing KUH and KUMC can do is sever their ties, break apart into two completely separate organizations.
KUMC should be allowed to make a deal with both St. Lukes AND KU Hospital to help KUMC become one of the best medical academic institutions in the world.
KUH should be operated as a separate organization, not tied to KUMC in any way except by contracts negotiated between the two schools.
This will be a mountain to surpass, but it is the best long term alternative for both organizations.
1 March 2007
at 3:07 p.m.
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MyName (Anonymous) says…
If this really is in the “best interests” of both institutions, then why is that guy framing the proposal in terms of budget difficulties? It's just stupid the way this is being proposed. It's like, instead of doing the smart thing and taking care of state resources, we do the dumb thing and just sell them off.
1 March 2007
at 5:34 p.m.
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Luther (Anonymous) says…
Obviously a level of missmagement is present. If the universities knew how to balance their budget there would be no sugestion of “pawning” the hospital. I'm not a genius but I do know that KU Medical Center has received one of the highest rating in the nation which shows that on the hospital side someone knows what their doing. And someone on the university side does'nt. How can KU Med Center be rated so high and the University be in financial trouble. Does that make since to you?
1 March 2007
at 5:56 p.m.
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Luther (Anonymous) says…
Obviously a level of missmagement is present. If the universities knew how to balance their budget there would be no sugestion of “pawning” the hospital. I'm not a genius but I do know that KU Hospital has received one of the highest rating in the nation which shows that on the hospital side someone knows what their doing. And someone on the university side does'nt. How can KU Hospital be rated so high and the University be in financial trouble. Does that make since to you?
1 March 2007
at 7:53 p.m.
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ASBESTOS (Anonymous) says…
Let's see here:
1.) The KPERS investment people we hire are totally ineffective being that they cannot get the assets to produce the required benefit payout in a rising market with record gains!!!! (what are we gonna do in a economic dowturn?)
2.) The Universities had been given money earlier on in the 1990's and instead of repairing buildings they built new ones, AND none of the money and research that the people of the state of KANSAS are funding these universities is paying off as it is continuing to cost more and more. (what are we gonna do in a economic dowturn?)
3. Sell an entity that brings prestige, service AND revenue to the State of Kansas to pay off all thos other shortcomings?
Stineger, isn't this the guw that is associated with the illegal transfer of the SFAAP and is affiliated with the SR Corp.?
THis is more than Fletch states: “This logic ranks right up there with “if you chop all the trees down, you don't have to worry about forest fires.”“
NO they are not worried about forest fires, this is about “leaves falling”. Basic maintenance, and they cannot do it with this equipment, tools, and budget.
I think I found out “What's the matter with Kansas?”
1 March 2007
at 7:55 p.m.
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ASBESTOS (Anonymous) says…
Wonder whom Chris Steinerger Knows who wants to buy a hospital. I bet his wife is the Broker on the deal. Looks like there is a yahoo in the woodpile here, and I smell corruption and the hatching of the “inside deal”.
I would say to start an investigation on Senator Chris!
1 March 2007
at 8:02 p.m.
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Marion (Marion Lynn) says…
I know Crhis personally and also knew and worked for his father, Jack Steineger, back in the days when I was a Democrat; that is, before Enlightenment.
The rising power of the Democrats in Wyandotte County must be very carefully monitired and the plans of that nefarious lot must be headed off at the starting gate.
Thanks.
Marion.
5 March 2007
at 2:44 p.m.
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ed (Anonymous) says…
What is the argument for the state to continue ownership of KU Hospital?
It is communistic for the state to own a for-profit organization for no reason.
According to dictionary.com, communism is: “a theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community as a whole or to the state. “