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. The young Molina children learned much from their parents about hard work, education and strength of family. 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. 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 , 57. Research Tools The about-face, Molina says, cost roughly $2 million without the admission of a single patient. In this article, we take a look at John John Molina's net worth in 2021, total earnings, salary, and biography. Pacific6 is a Long Beach-based partnership of six founders, committed to identifying, investing, and being intimately involved in inspiring and important ventures that can positively impact people and the communities in which they live. Why is this public record being published online? The council voted 7-0 to approve the lease. The growing, Long Beach-based health insurer has nearly 5 million customers in 12 states and Puerto Rico, most of them insured through Medicaid, the government program for the poor. 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.. Most recently, he served as the Chief Operating Officer of the third largest home warranty company in the United States, a subsidiary of Old Republic International. On average, John trades about 14,734 units every 47 days since 2003. But Community Hospital continued operating at a loss nearly every year, according to financial documents submitted annually by MemorialCare to the state. We were hoping the city would do everything they could to save it.. . Most recently John sold 20,480 units of MOH stock worth $1,500,774 on 26 February 2018. 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. of If the carrier you wish to find is not in this list, revise your search string to be more specific and re-submit the query. 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. Only the transactions in Open Market or Private Sale at the market prices are included. If the problem persists, email the Casetext support team at support@casetext.com. As of 26 February 2018 John still owns at least 372,930 units of Molina Healthcare Inc stock. sale The company, which offers health care plans for people receiving government assistance through such programs . In 2018, Molina, a former chief financial officer of Molina Healthcare, embarked on an ambitious agenda of acquisition and development in Long Beach. the Director of Molina Healthcare Inc and owns about 2,346,497 shares of Molina Healthcare Inc (MOH) stock worth over $642 Million. 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 Cases involving other matters not classified elsewhere, 890, 1890, 1990, 2890, 2899, 2999, 3375, 3890, 3896, 3899, 3999, 4890, 4896, 4999, Description: Dismissed per rule 8.140(b); Disposition Type: Final. An avid bicycle commuter, Jon lives in Long Beach with his wife and three children. In early 2018, MemorialCare informed Long Beach officials it was terminating its lease with the city rather than spend tens of millions of dollars more in seismic repairs mandated by the state. At the time of the assessment, MWN consisted of four individuals, including John Molina and his physician brother, J. Mario Molina, who was overseeing a medical group called Golden Shore Medical and was Molina Healthcares former CEO. The company, for its part, would shoulder any losses above the propertys appraised market value, which, in 2018, was $17 million. Puerto Rican boxer and celebrity, IBF and WBO Super Featherweight Champion, who is known for being a socialite. 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. 699 others named John Molina are on LinkedIn DispositionDescription: Dismissed per rule 8.140(b); Disposition Type: Final. Brought together by John Molina, formerly the Chief Financial Officer of Molina Healthcare, the Pacific6 partners have diverse professional backgrounds, including healthcare, financial services, risk management, human resources, legal affairs, and media/marketing development spanning from Fortune 200 to small, independent companies. 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. Fundamental company data provided by Morningstar, updated daily. Long Beach, CA. It was a job for which he was admittedly unprepared. All but MWN and Palisades Health Solutions withdrew from the competition, citing the high cost of seismic compliance, according to city officials. I am very frustrated that they closed it as quickly as they did, says Berry, who was born at the hospital in 1942. The company cited financial performance for their ouster. Insiders trading at Molina Healthcare Inc. . Molina says state officials asked him in March 2020 whether he could reopen under an emergency status to handle non-COVID patients, thus easing the burden on hospitals that were overwhelmed with pandemic admissions. ; Notes: It appearing that the appellant is in default pursuant to Rule 8.140(b), California Rules of Court, the appeal filed March 17, 2021, is dismissed. He is from Puerto Rican. We were looking around. V.P. With all those costs, he says, there was just no way to make it work.. In a report to the council, it said the proposed lease contained significant risks for the city but represented the best terms that could be negotiated to incentivize MWN to keep Community Hospital open. 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 . Chief Accounting Officer Maurice Hebert It was just destroying the hospital budget. 62,420 shares on February 22, 2018, which More 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. By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, On Tuesday, the company reported its first-quarter results, showing that its total number of insured members jumped by more than 500,000 people to 4,766,000. DocketDescription: Default notice sent-appellant notified per rule 8.100(c). That detour came as a result of the need for a preschool for her second child. Details can be seen in John C Molina's Latest Holdings Summary section. Her love of education comes from her parents. Check John Molina's phone number, current home address, age and other contact information. Other key executives at Molina Healthcare Inc include We didnt go into this completely blind, he says. President and CEO Joseph Zubretsky. Make your practice more effective and efficient with Casetext's legal research suite. Third District Councilwoman Suzie Price, who pushed to keep Community open, concedes that the lease did not necessarily favor the city but says the council was determined to be responsive to constituent concerns. 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. But the City Council in closed session rejected the idea, directing staff to seek offers from other potential hospital operators. Founding Partner at Pacific6 Enterprises . In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. In 2019, the first full year of the closure, transport times rose to 7.8 minutes. View John Molina's profile on LinkedIn, the world's largest professional community. Molina, Dowling and Sommers have no involvement in our day-to-day editorial operation and no mechanism to directly influence our coverage. Mary's mailing address filed with the SEC is C/O MOLINA HEALTHCARE, INC., ONE GOLDEN SHORE DRIVE, LONG BEACH, CA, 90802 . Among other investments, his newly created Pacific6 purchased the historic but deteriorating Breakers Hotel on Ocean Boulevard to convert it into a hip boutique hotel, a vision that remains unrealized. 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. She is known fo. 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 income source is mostly from being a successful Boxer. 2. Attorney at Law Offices of Michele A Dobson. of 20,106 shares made by Jeff D. Barlow of 1,500 shares made by Ronna Romney Michelle's personal network of family, friends, associates & neighbors include Mary Molina, Janet Watt, Ronald Heiman, Josephine Molina and John Heiman. Hyundai was poised to become Teslas top contender. 0 transactions in Molina Healthcare Inc (MOH) over the past 5 years. It's a life that has grown out of her ability to follow her passions, always encouraged by her parents. Michelle earned her Bachelor's degree in Radio/TV Communication from . But such concerns, while heartfelt, were apparently misguided. We needed to hit 50. DAVID TELLING TODD LEMMIS JON HEIMAN BOB GORDON KEVIN DAVIS JOHN MOLINA. 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 . ; 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 company footprint has expanded from operations in four states to 17 states since the companys IPO in July 2003. (You can read a more detailed timeline of our ownership in our Transparency Portal.) What is John Molina's Net Worth? The current estimated net worth of Molina Healthcare Inc's CFO, John Molina, is estimated to be about $213.37M . a net Still, one crucial piece of that mission was missingthe patients. . This investment adviser does not provide advice to individual investors. Their attention was elsewhere, he says. Column: 15 minutes of fame flies by. We have to work and work hard every day for everything that we have., Dad had a saying, You can make your living with your brain or your back. Molina board removes CEO and CFO, long-time execs and founder's sons . Just like we did at home. And with that, a warning by the economic team before the City Councils vote had come to pass. and Molina Healthcare began as a family business and still is, to a large extent. John Kokken Age, Net Worth, Height, Affair, and More. DocketDescription: Filing fee. I read that quote a long time ago and he and I thought that really says it all.. They didnt want a lot of organized activities. LONG BEACH, Calif.--(BUSINESS WIRE)--Jul. . A short-term lease of Community Hospital Long Beach, shown here on Jan. 22, 2022, is being negotiated while appraisals are prepared as part of an ultimate sale to Molina, Wu, Network. Salad is off the menu in Britain because of vegetable shortages. Well, we all worked in it growing up. John has many family members and associates who include Elsa Molina, Janet Heathcote, Aristides Molina, Marie Alban and Dennis Vazquez. And we were hopeful.. Vasilomanolakis says it was ordered but got held up in the pandemics massive supply-chain backlog. John also answers to John C Molina, and perhaps a couple of other names. sale In fact, many emergency patients in Community Hospitals service area were already being transported elsewhere. 2004-2023 GuruFocus.com, LLC. John C Molina owns 2,346,497 shares of Molina Healthcare Inc (MOH) as of February 22, 2018, with a value of $642 Million. There are 600+ professionals named "John Molina", who use LinkedIn to exchange information, ideas, and opportunities. 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.. For nearly a century, Community had served generations of residents in . Please note GuruFocus will not track the insiders transaction performance if he/she does not have buying transactions. 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. 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? John John Molina's source of wealth comes from being a boxer. A determined legion of save our hospital stakeholders kept the pressure on at City Hall to make that happen. John C Molina, Exec. Pacific6 looks across a broad spectrum of opportunities to determine the best fit for our mission. 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. Court documents are not available for this case. 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