nearly $20 million in cash and stock and John Molina is entitled to a . He believed that being smaller, and focused solely on Community, would help him revive the hospital within a year of taking control. Michelle is now married. Founded 1980. We needed to approach and evaluate this story like any other. Then the U.S. government blindsided it, A $150,000 executive protection dog? But the City Council in closed session rejected the idea, directing staff to seek offers from other potential hospital operators. The company, for its part, would shoulder any losses above the propertys appraised market value, which, in 2018, was $17 million. We were all anxious to get Community Hospital reopened and its easy to critique the city and say, How could you write an agreement where youre going to reimburse somebody for their losses? he says. John Molina is Chief Financial Officer of a Fortune 500 corporation based in Long Beach, Molina Healthcare, a company his father, C. David Molina founded more than 30 years ago. John Molina owns over 20,480 units of Molina Healthcare Inc stock worth over $102,152,986 and over the last 20 years John sold MOH stock worth over $64,236,579. Melody Petersen is an investigative reporter covering healthcare and business for the Los Angeles Times. Only the transactions in Open Market or Private Sale at the market prices are included. ; Notes: Plaintiff and Appellant: Michelle Molina Attorney: Michele Antoinette Dobson, DocketBrief: Civil case information statement filed. He grew up in Southern California, attending California State University, Long Beach for Journalism and Public Relations. He added that there was a sense we werent keeping up with our competitors.. The Judges overseeing this case are ANDREW C. KIM, MARK C. KIM and MICHAEL P. VICENCIA. Molina's Medicaid plans receive revenue on a per-member per-month basis from state government agencies, and its Medicare Advantage plans receive revenue from managed care plans that contract with the Centers for Medicaid and Medicare (CMS). The best thing to do is believe in yourself even when others may not., According to John Molina, there were physicians at the hospital, people in the community, who told his father that he could not be successful taking care of the poor. John Molina is 57 years old today because John's birthday is on 10/23/1964. In January 2021, after state approvals, the hospital finally reopened to take transfer patients from hospitals confronting COVID surges. Finally, one place to get all the court documents we need. Bishop, now CEO of MemorialCares Long Beach campus, says small hospitals frequently operate at a loss but are subsidized by their larger parent companies. Molina Healthcare is on the brink of major layoffs, the Press-Telegram has confirmed. Molina Healthcare Company Stats. Longtime community supporters say they were heartbroken. Gurus may be added or dropped from the GuruFocus site at any time. A closed Community Hospital on April 20, 2022. So, I got a lot of practical experience. When she graduated, she went to work with an architectural firm. 2022 Pacific6 Enterprises | 211 E. Ocean Blvd., Suite 550, Long Beach, CA 90802 | 562-600-7226. He is known for being a Boxer. In 2017, the last year MemorialCare operated Community Hospital, the average transport time was 7.3 minutes, according to fire officials. For COVID-19 Business, Property Owner, and. 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. Above is the net worth, insider trading, and ownership report for John C Molina. If the ruling stands, the city cant simply transfer ownership of the land to MWN as reimbursement for the companys losses. White will serve as chief financial officer and interim chief executive while the board seeks a replacement for the top post. 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. As a Leadership Long Beach alumnus, Ms. Molina-Watt and two of her fellow classmates worked to design and raise funds to light the Queensway Bay Bridge that leads to the Queen Mary. When MWN announced the closure, the company proposed rebranding the facility as the Long Beach Community Wellness Campus, which would offer an array of outpatient and inpatient services, including behavioral and mental health, urgent care and other medical and social programs. And then, when I was in college, I continued to work there.However, Molina-Watt and her husband continued to work at Molina Healthcare through college doing billing. In summary, during the past 3 months, insiders sold 4,000 shares of Molina Healthcare Inc (MOH) in total and bought 0 shares, with a net Attorney at Artiano & Associates. Then, just weeks later, the state told the hospital to stand down, that its services were not needed. John Molina offers one other lesson for todays youth. John Molina owns over 20,480 units of Molina Healthcare Inc stock worth over $125,062,076 and over the last 19 years John sold MOH stock worth over $64,236,579. Over the past 18 months, Select a Column Field to add to the results, Refer a Friend and Earn One Month of Free Membership, Exec. John Molinas vision of that legacy, for himself, is simple. Ambulance response times increased from 5.5 minutes to 5.6 minutes. For over 30 years, David has specialized in the creative direction and production of marketing and education materials on all forms of media. The company offers to transport its members on free shuttles that not only get them to their doctors appointments, but stop at grocery stores, churches, laundromats and check-cashing stores. Yadier Benjamin Molina was born on July 13, 1982 in Bayamon, Puerto Rico. 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 V.P., Financial Affairs Williampedersen Curtis Dentino, Joseph W Cpa White, And my Dad knew he could be a success because he defined success as filling a need.. All but MWN and Palisades Health Solutions withdrew from the competition, citing the high cost of seismic compliance, according to city officials. Details can be seen in John C Molina's Latest Holdings Summary section. I think, for myself it, it would be that I always tried to do what was best keeping others in mind., Molina says thats what his parents taught his children. DocketDescription: Default notice sent-appellant notified per rule 8.100(c). DocketDescription: Default notice sent; no case information statement filed, or statement incomplete. On average, Molina Healthcare Inc executives and independent directors trade stock every 15 days with the average trade being worth of $4,879,063. The most significant incentive: MWN could terminate the 45-year lease at any time and Long Beach would have to reimburse the company for its operational losses, even if the hospital never saw a patient. It is that we left Long Beach in a better place, more progressive, than when my parents came here in the 50s. They wanted us to read., Exploration was also important for the Molina family. But the patient count also remained low because the hospital itself was turning people away or sending them elsewhere because of staffing shortages and a lack of equipment, Vasilomanolakis says. 2004-2023 GuruFocus.com, LLC. Molina Healthcare Inc (MOH) Insiders are limited to only officers and/or directors of the company. Molina-Watt started in college with theatre arts at Long Beach City college. 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. Neither my father or my mother would give us pearls of wisdom, he begins, They led by example, not by talking about things.. UniCourt uses cookies to improve your online experience, for more information please see our Privacy Policy. DocketDescription: Appeal dismissed per rule 8.140(b). stock. They didnt want a lot of organized activities. Phone Number: 562-570-4BIZ (4249) Days: Monday - Friday. The hospital, which provided much needed acute care services in East Long Beach before it shut down in July 2018, is to be . John C Molina, Exec. He remained as the director of ICU until 1976. . According to the SEC Form 4 filings, John C Molina has made a total of We were looking around. Molina says soaring construction costs during the pandemic pushed the initial retrofit estimate of around $50 million to $79 million. Earnings & Financial Data The below financial data is gathered and compiled by TheRichest analysts team to give you a better understanding of Yadier Molina Net Worth by breaking down the most relevant financial events such as yearly salaries, contracts, earn outs . Have it from start to finish. So, she received her masters in Architecture at California State University, Pomona. With nearly 20 years of experience working with PeaceBuilders and at-risk youth in . 699 others named John Molina are on LinkedIn and 0 transactions in Molina Healthcare Inc (MOH) over the past 5 years. 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. The estimated net worth of John C Molina is at least $687 Million dollars as of 2023-02-17. 2. The estimated net worth of Molina J Mario Md is at least $76 Million dollars as of 2023-02-16. In addition to its Health Plans segment, Molina has a Medicaid,Medicare, and Marketplace segment that represent the government-funded or sponsored programs under their management information systems. On the night of the City Councils lease vote, only one naysayer rose to speak against the proposed arrangement with Molinas MWN, longtime City Hall critic Corliss Lee. To learn more about us visit: http://bit.ly/padnettvLike us on Facebook: http://bit.ly/padnettvfbFollow us on Twitter: http://bit.ly/padnettvtFollow us on In. And the city responded, with crushing consequences. They were more interested in us doing things exploring., Janet Molina-Watt and her husband have talked about what legacy they want to leave behind. Our goal is to engage these diverse voices to inspire the exchange of creative ideas and transformative solutions. We didnt go into this completely blind, he says. We're sure he's a very busy executive, but you have to stop and listen as he speaks admiringly about his parents, David and Maria Rose Molina. Communitys emergency department would be authorized to open five months later. . Hyundai was poised to become Teslas top contender. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. John has many family members and associates who include Elsa Molina, Janet Heathcote, Aristides Molina, Marie Alban and Dennis Vazquez. it was always about serving ourselves but serving others at the same time.. That same year, he also bought the Post, he says, to improve news coverage of his hometown. ; Notes: Plaintiff and Appellant: Michelle Molina Attorney: Michele Antoinette Dobson, Brief: Civil case information statement filed. 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. John and the team felt very confident regardless of the change, the mayor says. Also on board were doctors Jonathan Wu of Health Source MSO and Kenneth Sim of Apollo Medical Holding, an affiliate of Network Medical Management. John John Molina's income source is mostly from being a successful Boxer. I enjoyed the creativity and the design., When she finished her degree, she decided she wanted more. By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, The Molina Family in Molina Healthcare, Inc. (Replay) Education Equals Opportunity Too: Teaching Life Lessons. ; 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). Despite warnings, a risky vote to save the hospital. Vasilomanolakis says he poured his heart and soul into saving the hospital, where he had worked for 39 years. 3711 Long Beach Blvd. Molina also provides plans through health insurance exchanges. For work these days, John is a Director at Molina Medical Centers. With its Spanish Colonial architecture and small-town feel, it seemed like a throwback in an age of mega hospitals and vast health care systems. Supernaw says he was so committed to getting the hospital reopened that he used $250,000 from his office funds at city staffs request to pay for critical elevator repairstaxpayer money that, in the end, would be lost to the effort. PalacioMagazine.com is a multimedia digital platform featuring the stories of People of Color in an increasingly multicultural America. , John John Molina's source of wealth comes from being a boxer. In recent months, he had been outspoken about what he believed was wrong with the Republicans plans to replace the ACA. The about-face, Molina says, cost roughly $2 million without the admission of a single patient. brought 2020-06-23, Los Angeles County Superior Courts | Labor | As a charter member and the current Chair of the Board of Directors for the Aquarium of the Pacific, John is intimately involved in the $53 million Pacific Visions expansion of the Aquarium. ; 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 | The current estimated net worth of Molina Healthcare Inc's CFO, John Molina, is estimated to be about $213.37M . And with that, a warning by the economic team before the City Councils vote had come to pass. Molina J . J. Mario Molina succeeded his father, C. David Molina, as CEO in 1996. He says MemorialCare had hoped to keep Community open, but the equation shifted when the health care provider got the results of a $1 million seismic survey it commissioned, revealing the exact location and severity of an active fault under the property. The 57-year-old boxer was born in Puerto Rico. Photo by Brandon Richardson. I enjoyed the problem solving. I thought it would be a good thing.. 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.. 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. $1 Million - $5 Million. According to financial filings, J. Mario Molina owns 2.86% of the company, while John Molina owns 2.33% of the shares. As of 26 February 2018 John still owns at least 372,930 units of Molina Healthcare Inc stock. . Molina Wu Network's John Molina and Community Hospital Long Beach at 1720 Termino Avenue (Facebook, City of Longbeach) The state wants the shuttered Community . Warmer storms could cause problems, Dramatic before and after photos from space show epic snow blanketing SoCal mountains. Dallas-Fort Worth . Molina says he was shocked by the numbers because of the apparently strong public support and a feasibility study that showed high demand for the hospitals services. 28, 2021-- Molina Healthcare, Inc. (NYSE: MOH) (the "Company") today reported second quarter of 2021 GAAP earnings per diluted share of $3.16 and adjusted earnings per diluted share of $3.40. Pacific Community Media, or PCM, which oversees our two publications, is a subsidiary of Molinas company Pacific6. Three of the Molina children still run the company. We have estimated John John Molina's net worth, money, salary, income, and assets. He is from Puerto Rican. 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. The company cited financial performance for . Joseph Molina Born: May 16, 1958 (age 64 years), Long Beach, California, United States How . But his optimism for the hospitals future quickly got an infusion of reality as expenses began to mount. The most recent stock trade was executed by Marc Russo on 12 December 2022, trading 1,500 units of MOH stock currently worth $526,755. Kathy Berry, Communitys former public relations director, says the staff spent countless hours trying to save the hospital and were left jobless when Molinas MWN pulled it from life-support. Column: 15 minutes of fame flies by. PalacioMagazine.com is a multimedia digital platform featuring the stories of People of Color in an increasingly multicultural America. The third result is John A Molina Sr age 80+ in San Gabriel, CA in the South San Gabriel neighborhood. Communitys losses, he says, were covered by MemorialCares four other hospitals and dozens of urgent care centers. C/o Molina Healthcare, Inc., One Golden Shore Drive, Long Beach Ca 90802. Resides in La Habra, CA. DispositionDescription: Dismissed per rule 8.140(b); Disposition Type: Final. Mom and Dad were always, of course theyre teachers, so I think it was innate in themthey really fostered this love of learning. 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. John C Molina currently owns a total of 1 the Director of Molina Healthcare Inc and owns about 2,346,497 shares of Molina Healthcare Inc (MOH) stock worth over $642 Million. Purchased in November 2017 by Pacific6, an investment group made up of six Long Beach entrepreneurs, the hotel is slated to open in 2020. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. John John Molina's age is 57. And I was supported the whole way.. In fact, many emergency patients in Community Hospitals service area were already being transported elsewhere. But Community Hospital continued operating at a loss nearly every year, according to financial documents submitted annually by MemorialCare to the state. City officials acknowledge they had reservations about the new management arrangement, which differed markedly from the one COPE endorsed. no insider transaction in Molina Healthcare Inc (MOH). But behind the scenes, it was facing the modern realities of hospital economics. When MemorialCare, Long Beachs largest health care provider, assumed operations of Community in 2011, the hospital had been struggling for years and was on the verge of being shuttered. GAAP net income for the second quarter of 2021 was $185 million, . By Jack Smith June 7, 2022. The two brothers will be replaced by Joseph White, currently the companys chief accounting officer. To that end, today we are publishing a report looking at what led to the ultimate closure of Community Hospital, a public asset owned by the city, and the unprecedented lease agreement that will require Long Beach to reimburse potentially tens of millions of dollars in losses to its operator. Kevin has been key in helping multiple organizations increase revenue, lower operating costs, and hit operating targets by leveraging core competencies and focusing on operational excellence. Because when the business got started, it needed a lot of labor., For the Molina children, that meant going down to the clinics and pulling charts or sweeping the parking lot. We needed to hit 50. At Long Beach City Hall, it was code blue for Community Hospital. Molina added that the business grew because his father believed he could, despite people telling him that he couldnt do it. We were hoping the city would do everything they could to save it.. He says the pandemic drove costs sky-high for seismic repairs, staffing and equipment. That sense of You are my family and Im going to support you, do whatever you need me to do always came through., The spirit of helping and supporting each other helped the family business grow. 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. John C Molina is We located 74 people named John Molina in 25 states. The Molina Family in Molina Healthcare, Inc.: Dr. Martha Molina Bernadett, The Molina Family Profiles: Josephine Molina. 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. Court documents are not available for this case. But the California Department of Public Health was concerned about understaffing and ordered it to shut down in less than 30 days. Molina is scheduled to report . But that was not the case. As CFO, John oversees all financial and corporate development functions including accounting and finance, treasury, investor relations, marketing, human resources and market expansion. Other key executives at Apollo Medical Holdings Inc include SVP-Chief Accounting Officer John Vong . May 2, 2022. Then the pandemic arrived, only compounding the costs as it swept across Los Angeles County and the nation. She has been a PeaceBuilder since 1994 and a PeaceBuilders trainer and curriculum developer since 1998. The device arrived, he says, after the hospital had closed. Even before the lease was inked, there were concerns about the new operators ability to keep the hospital afloat. President and CEO Joseph Zubretsky. In a surprise shake-up Tuesday, Molina Healthcare Inc. a major player in Obamacare health insurance markets ousted its two top executives, both sons of the firms founder. In recent interviews, Long Beach fire officials said that in the months after the MemorialCare closure, the department was able to absorb the impact with just seconds being added to citywide transport and response times. Public Records Policy. ChatGPT who? , Todd sits on the board of directors of the Long Beach Convention and Visitors Bureau and the Downtown Long Beach Alliance. Executive Vice President Marc Russo Dated:; Notes: non-compliance from lasc filed Oct 8, 2021, Description: Civil case information statement filed. Personal details about John include: political affiliation is . Contact the Business Hotline and Call Center. John is related to Matthew M Molina and John A Molina as well as 3 additional people. One analyst asked if the company had found signs of fraud or illegal activity. The co-trustee of two Molina family trusts is listed as owning an additional 17.4% of the company. He defeated Shane Mosely to retain his IBF Super Featherweight title. Now, in hindsight, Im sure people are going to say, Well, it was too big of a risk and we shouldnt have taken it, Price says. 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. Michelle's personal network of family, friends, associates & neighbors include Mary Molina, Janet Watt, Ronald Heiman, Josephine Molina and John Heiman. A refreshing cup of iced honey lemon (w/o sugar) works wonders after a long day of shoot! By Kelly Puente and Brandon Richardson. Janet Molina-Watt. John John Molina was born on the 17th of March, 1965. Raised in Orange County, Michelle has been in Long Beach for over 20 years where she currently lives with her two children and husband, John, CFO for Molina Healthcare. Molina Healthcare also released its first-quarter 2017 results Tuesday, reporting net income per diluted share increased to $1.37 in the first quarter of 2017 compared with $0.43 for the first . Were sure hes a very busy executive, but you have to stop and listen as he speaks admiringly about his parents, David and Maria Rose Molina. . John Molina, the former chief financial officer at Molina Healthcare, has resigned from its board of directo (You can read a more detailed timeline of our ownership in our Transparency Portal.) The estimated Net Worth of John C Molina is at least $166 Milione dollars as of 26 February 2018. Its a massive disappointment not only to the community but also to the people who came back to work there because they loved Community Hospital and wanted to see it open. For nearly a century, Community had served generations of residents in East Long Beach. Molina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and Medicare programs and through the state insurance marketplaces. I want to do more than that. 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. 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