HUMC Construction Progress

6/15/2009 Update:

Today at 11am is the “Media Preview” of the new Hoboken University Medical Center Emergency Room. But thanks to Hoboken411 reader elainetyger – who submitted preview shots last Thursday (below) – I can skip this, and get the much needed rest I deserve. Thanks again to the HUMC staff for extending the invite to 411!

6/11/2009 Update:

Continuing the ongoing Hoboken411 updates of the construction progress over at Hoboken University Medical Center…

Earlier in the week, we had some beautiful photos of the completed exterior work – now Hoboken411 reader elainetyger sent some shots of what the new ER looks like!

Oh, and the new Emergency Room is scheduled to open on Tuesday, JUNE 16th, 2009 at 4:00am.

Preview of the new Emergency Room

“Impressive! Over 30 beds, including 2 code beds instead of 1 like before (beds that are more fully equipped for people on the verge of death), a separate area for pediatric patients, another separate area for psych patients, a decontamination room that is accessible by EMS from the outside, and separate rooms for EMS workers to pick up backboards and other equipment that had to be left behind, fill out reports, use the toilet, and even shower.”

SEE PREVIOUS UPDATES AFTER THE BREAK…

6/8/2009 Update:

Here are some shots I took of the HUMC Emergency Room. Seems like they’ll be ready to open soon!

1/13/2009:

Who’s nervous about the future of HUMC?

Some progress has been made since the last Hoboken411 update back in October. Do you think it’ll be ready to go in 2009? Have they blown through their municipal bond yet? Is this the next “shoe to drop” for Hoboken taxpayers if it fails? (cue announcer: “Stay tuned to “University Hospital” weekdays at 1pm on ABC.”)

PHOTO GALLERY (HOLD MOUSE OVER IMAGE TO NAVIGATE – 4 PHOTOS IN THIS SET)

10/9/2008:

Decided to create a thread for the lovely construction progress at Hoboken “University” Medical Center (must use quotes on “University” every time – still think it’s the most ridiculous name for a hospital that has nothing to do with any University….)

Anyway – snapped these shots at the end of September – and finally got around to uploading them.

One thing I noticed was all the “no parking” signs, which are essentially supposed to be all day – yet there are cars there every time I walk by. “Privileged Parking” again?

PHOTO GALLERY (HOLD MOUSE OVER IMAGE TO NAVIGATE – 8 PHOTOS IN THIS SET)

More updates as progress is made…

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13 Comments on "HUMC Construction Progress"

broken
Member
broken

The HUMC is privately owned and operated, it receives no funding from the city (in fact it pays the city millions of dollars in fees every year for parking in the adjacent garage), and what it pays it’s people is no one’s business but the board of directors. It pays salaries out of revenues.

matt_72
Member

Not entirely true. First of all it got its financing via a bond backed by Hoboken so it is saving a fortune on interest expense courtesy of us (and we take all the risk if they default). Second of all, it is using the funds from this Hoboken taxpayer gauranteed bond to fund its operations – because the revenues the hospital collects DON’T COVER its costs. If this were a bank in the TARP fund & it had borrowed money from the US Treasury, chances are all the top employees would be facing pay restrictions. They owe us $52mm dollars and they are losing more money every day. It is absolutely our responsibility to make sure they don’t waste more money. If they want us to not comment on what they pay people then they should retire those bonds. Of course, that will never happen, not when they are on the brink of bankruptcy and ultimately will stick the Hoboken taxpayer the bill.

In response to broken who said:
The HUMC is privately owned and operated, it receives no funding from the city (in fact it pays the city millions of dollars in fees every year for parking in the adjacent garage), and what it pays it’s people is no one’s business but the board of directors. It pays salaries out of revenues.

broken
Member
broken
It got its financing backed by the city – true. but the city (shamefully) did not insist on any “say on pay” in the contract. This was a bad decision – but binding. We can’t now go and change the agreement, as frustrating as that may be. It’s losing money – true. But so are a lot of companies these days. It has reserves to cover expenses – that’s the point of them. It’s no ones responsibility but the managements to stop this situation. You can comment all you like – I do, and have commented quite negatively on the HUMC – but it’s important to realize what the limits of the city’s power over the HUMC is. Lets also remember that the HUMC is as big of an entity as the city is – it has roughly the same budget. It can’t raise revenue with the stroke of a pen – like the city did. The HUMC is much better managed than the city currently is – though I fear that is not saying much at all. In response to matt_72 who said: Not entirely true. First of all it got its financing via a bond backed by Hoboken so it is saving a fortune on interest expense courtesy of us (and we take all the risk if they default). Second of all, it is using the funds from this Hoboken taxpayer gauranteed bond to fund its operations – because the revenues the hospital collects DON’T COVER its costs.… Read more »
matt_72
Member
Those reserves it had to cover losses is a portion of the $52mm bond they borrowed. They blew through the original “reserves” in their business plan and started using the borrowed money within a year of borrowing the money. Remember? They had to come back to the city to ask permission to use that money to cover operating losses. This thing is bottomless pit that will suck cash in, never to turn a profit until the day it is shut down permanently. Then we get to shut it down, tear it down, hopefully recover some of the money we effectively loaned them (that is in effect what our guarantee is – we pay off the bonds if they default & can’t repay them) and let some developer put up a massive project up on the land. And we do have options. Remember, the hospital has to come to us sometimes when they want to borrow more money or use the money already borrowed in ways not permitted under the indenture. – Option 1 – no more amendments to the indenture allowing them to further use borrowed money for operating loses. – Option 2 – don’t loan them another penny or even let them borrow so much as a penny until we get refinanced out (unless the money is behind the notes, which no way any lender will agree to) We all know they will need more money to fund their ongoing cash burn, so lets put it to an end… Read more »
elainetyger
Member
elainetyger

I’m supposed to go inside for a tour tomorrow night. IIRC I was told it’s opening on June 16.

strand tramp
Member
strand tramp

if this is true i’d like to know if the $800k contract was paid off early or if the guy was in violation and the contract torn up?

hob325
Member
hob325

The talk around town and in the hospital there is a new CEO announced. Has anyone heard of him? Where has he worked before and what are his qualifications to be the CEO other than the emergency room building project? Rumor has it- this did not have full board support? In the hoboken reporter it was mentioned that the board chair resigned and that it possibly had to do with his non approval of the candidate. Who made this happen? Is this another one of Mayor Davy Roberts and Harvey smart moves- we know what this will get us, plenty more of the same.

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