The estimated net worth of John C Molina is at least $642 Million dollars as of 2023-03-02. Johns business and philanthropic connections to Long Beach are numerous and well-known. Well, we all worked in it growing up. 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. All Filters. 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. Representatives for the California Department of Public Health were not available for comment. Sim and Wu did not respond to interview requests from the Post. A closed Community Hospital on April 20, 2022. Why is this public record being published online? Over the decades, numerous other Community Hospital leaseholders had failed to make a go of it, too. Our investigative journalism is funded in part by readers like you. The company cited financial performance for . ; Party Attorney: Plaintiff and Appellant: Michelle MolinaAttorney: Michele Antoinette Dobson. 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. Photo by Brandon Richardson. The family began looking for schools closer to them with the same philosophy as their first sons school. Molina Healthcare began as a family business and still is, to a large extent. Despite warnings, a risky vote to save the hospital. He currently resides in Puerto Rico. 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. Vasilomanolakis says it was ordered but got held up in the pandemics massive supply-chain backlog. The Molina Family in Molina Healthcare, Inc.: Dr. Martha Molina Bernadett, The Molina Family Profiles: Josephine Molina. Looking back, Councilman Daryl Supernaw, whose 4th District then included the hospital, says the economic team and other city officials failed to keep the council fully informed of the risks during the lease negotiations. 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 . Her bio describes Janet Molina-Watt as a "Community leader and lifelong resident of Long Beach who is actively involved in contributing to the local education system.". He wrote that Molina currently covers about 9% of all Americans enrolled in the Obamacare exchanges. COPE concluded that MWNs diverse experience, far-reaching connections and strong ties to Long Beach made it the best candidate to keep Community Hospital operating into the future. The company, for its part, would shoulder any losses above the propertys appraised market value, which, in 2018, was $17 million. In the meantime, Long Beach has enlisted Hardesty Health Solutions to audit MWNs financial recordsthousands of transactionsto verify Molinas contention that the company lost $30 million. Under the lease, the city would cover those losses by selling the publicly owned Community Hospital property or essentially giving it to MWN. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. So, I got a lot of practical experience. When she graduated, she went to work with an architectural firm. Insiders are limited to only officers and/or directors of the company. Puerto Rican boxer and celebrity, IBF and WBO Super Featherweight Champion, who is known for being a socialite. Lee based her conclusion on a lease analysis prepared by the citys Economic Development Department. John Molina offers one other lesson for todays youth. By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, Here we will discuss Alfred Molina Net Worth, Height, Weight, Age, Relation, Family, and more. At Long Beach City Hall, it was code blue for Community Hospital. 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. The medical staff had to hand-write its notations, which slowed down Communitys operations and made everyones job more difficult, the cardiologist says. It was precisely the outcome city staff had warned would probably occur before the council voted on the lease. $1 Million - $5 Million. One Golden Shore Drive Long Beach CA 90802 CA; Fundamental company data provided by Morningstar, updated daily. Other recent insider transactions involving Molina Healthcare Inc (MOH) include We needed to hit 50. And my Dad knew he could be a success because he defined success as filling a need.. 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. John Kokken is an Indian Actor. The board also named Dale Wolf, a director, as the companys new chairman. A California s-corporation, owned by John and Michelle Molina and based in Long Beach, California, PeacePartners is staffed by contracted trainers and coaches residing in the over 40 states we serve and is lead by a small in-house staff with Michelle at the helm. John Molina founder, Pacific6, speaks at the grand reopening of Community Hospital Long Beach in Long Beach on Thursday, May 27, 2021. 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. Other transactions such as conversion of derivative security or exercise of options are not included. They wanted us to read., Exploration was also important for the Molina family. 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.. With nearly 20 years of experience working with PeaceBuilders and at-risk youth in . I was never all that interested in the project to begin with, Mario Molina now says. White will serve as chief financial officer and interim chief executive while the board seeks a replacement for the top post. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. 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. Founding Partner at Pacific6 Enterprises . According to John Molina, it was expected that the children would work hard and that they would achieve the highest of their potential. Country United States. Based on ownership reports from SEC filings, as the reporting owner, John C Molina owns 1 companies in total, including by Business Journal Staff March 18, 2019. Their attention was elsewhere, he says. 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. Kevin is a business leader with over two decades of experience building teams, developing and executing strategies, creating competitive advantages and driving operational improvements. . Most recently John sold 20,480 units of MOH stock worth $1,500,774 on 26 February 2018. Personal Details of Alfred Molina. Other key executives at Molina Healthcare Inc include He grew up in Southern California, attending California State University, Long Beach for Journalism and Public Relations. I want to take over the design of an entire building. Salary in 2019. He is from Puerto Rican. The city said it is still negotiating with the state. John's reported annual income is about $200 - 249,999; with a net worth that tops Greater than $499,999. Although details of all this are complicated and uncertain, this much seems increasingly clear: the historic property will eventually be lost to the city of Long Beach. But before the lease was signed, the roster of talent COPE had praised was reduced by one important player, Mario Molina. no insider transaction in Molina Healthcare Inc (MOH). If the ruling stands, the city cant simply transfer ownership of the land to MWN as reimbursement for the companys losses. We have estimated John John Molina's net worth, money, salary, income, and assets. Long Beach-based Pacific6 Enterprises has secured $55 million in financing to complete an environmental upgrade to its century . And the best part of all, documents in their CrowdSourced Library are FREE! nearly $20 million in cash and stock and John Molina is entitled to a . The company was founded in 1980 by C. David Molina, an emergency room doctor in Long Beach. & Financial Affairs & Trustee & Molina Siblings Trust. It's a life that has grown out of her ability to follow her passions, always encouraged by her parents. Here, based on city and state records, as well as interviews with numerous key players in and out of Long Beach government, is an inside look at the high-risk gambles and financial pressures that led to Community Hospitals final days. 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. 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. DocketDescription: Appeal dismissed per rule 8.140(b). 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. sale 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. 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. Puerto Rican boxer and celebrity, IBF and WBO Super Featherweight Champion, who is known for being a socialite. A determined legion of save our hospital stakeholders kept the pressure on at City Hall to make that happen. Michelle's reported annual income is about $200 - 249,999; with a net worth that tops Greater than $499,999. He says he mostly wanted to team his brother with Sim and Wu, the latter of whom operates multiple Southern California hospitals. 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. Mom and Dad were always, of course theyre teachers, so I think it was innate in themthey really fostered this love of learning. 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. Los Angeles, Randall Emmett, Ambyr Childers settle domestic violence restraining order dispute, Column: Supreme Court conservatives may want to block student loan forgiveness. and We were devastated when we found out it was closing, says Jackie McKay, a nurse who had worked at Community since 1985 and lives down the street. John John Molina's age is 57. 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. Kevin earned a Bachelor of Arts degree in Economics from Stanford University. I enjoyed the problem solving. John and the team felt very confident regardless of the change, the mayor says. Stock quotes provided by InterActive Data. I am very frustrated that they closed it as quickly as they did, says Berry, who was born at the hospital in 1942. In 1994, Molina and his firm won a state contract to provide care for mothers and children in Californias Medicaid program, which is called Medi-Cal. Thank you, eat.play.love! John Molina was confident he could deliver where MemorialCare had failed. Personal Details View All 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. In all, the city received interest from five companies to operate Community Hospital. MemorialCares decision to bow out would represent a death knell for Community Hospital and its emergency room unless city officials could find a new operator. first-quarter net income of $1.37 per share. . Details can be seen in John C Molina's Latest Holdings Summary section. Previously, John was a Board Member at Long Beach Econo mic Partnership and also held positions at Cell Care Therapeutics, Neilsen Gough, KL Phy Photography, Aquarium of The Pacific, The David and Lucile Packard Foundation, Yahoo!, Petrone & Petrone PC, The . Molina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and Medicare programs and through the state insurance marketplaces. Her bio describes Janet Molina-Watt as a Community leader and lifelong resident of Long Beach who is actively involved in contributing to the local education system. Its a life that has grown out of her ability to follow her passions, always encouraged by her parents. Description: Default notice sent; no case information statement filed, or statement incomplete. Our mission at the Long Beach Post and Long Beach Business Journal is to give the news impartially, without fear or favorwords famously written by the publisher of the New York Times in 1896. 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. (One councilman was absent and one seat was vacant at the time.). Molina and Watson denied that she had done anything to influence the awarding the contract. sale Pacific6 will continue to build on this portfolio of projects as new opportunities and relationships develop. Gurus may be added or dropped from the GuruFocus site at any time. Three of the Molina children still run the company. Under Review. And we were hopeful.. 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. City staff will respond to voicemails made after business hours within 24 hours. 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. Molina also provides plans through health insurance exchanges. He lives in Long Beach, California with his wife and three children. 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. Personal details about John include: political affiliation is . Molina Healthcare is on the brink of major layoffs, the Press-Telegram has confirmed. A refreshing cup of iced honey lemon (w/o sugar) works wonders after a long day of shoot! it was always about serving ourselves but serving others at the same time.. 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. 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. Only once in its six years as operator of the city-owned hospital had health care giant MemorialCare turned a profit on the small, 158-bed acute care facility. Officials say its hard to know why patients failed to materialize at Community but speculated that the pandemic was keeping many people away from emergency rooms out of fear theyd become infected or have to endure grueling waits. Its called the Little Owl Preschool in Long Beach. The company cited poor financial results. John Molina's Pacific6 scores $55M financing for LB luxe landmark. V.P. Past performance is a poor indicator of future performance. ; 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). He has helped develop many forward-thinking enterprises and successful commercial properties in the city. Description: Default notice sent-appellant notified per rule 8.100(c). For nearly a century, Community had served generations of residents in East Long Beach. 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 estimated Net Worth of John C Molina is at least $189 Milione dollars as of 26 February 2018. Court records for this case are available from Second Appellate District. . During the fourth quarter of 2017the first quarter Zubretsky headed the companyMolina reported a $269 million loss . As for concerns that other emergency rooms would become more crowded with an influx of new patients, the numbers again told a different story. You may occasionally receive promotional content from the Los Angeles Times. , (He bought the Business Journal in 2020.). For the familys legacy, Molina says. California State University-Long Beach, +3 more . 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 . 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. The council voted 7-0 to approve the lease. Then the pandemic arrived, only compounding the costs as it swept across Los Angeles County and the nation. John Molina, the former chief financial officer at Molina Healthcare, has resigned from its board of directo 3711 Long Beach Blvd. Net income. He is known for being a Boxer. 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 Mary R Molina Net Worth What's Mary Molina's mailing address? Pacific6 looks across a broad spectrum of opportunities to determine the best fit for our mission. We located 74 people named John Molina in 25 states. Melody Petersen is an investigative reporter covering healthcare and business for the Los Angeles Times. By then, Community Hospital and its emergency services had been closed for 16 months. sale John C Molina is Click here to see the complete history of John C Molinas form 4 insider trades. He believed that being smaller, and focused solely on Community, would help him revive the hospital within a year of taking control. You can see the complete history of John Molina stock trades at the bottom of the page. Most recently, John served as Associate Vice President for Molina Healthcare, a Fortune 200 managed care organization where he spearheaded a local university partnership to launch the companys first paid internship development program, featuring an interactive curriculum and on-the-job project leadership training. ; Notes: Plaintiff and Appellant: Michelle Molina Attorney: Michele Antoinette Dobson, DocketBrief: Civil case information statement filed. J. Mario Molina, left, president and CEO, and John Molina, right, chief financial officer, of Molina Healthcare in their Long Beach office in 2010. His success results from a comprehensive understanding of the internal and external business environment, exceptional analytical skills, and the foresight to anticipate trends and position companies ahead of their competitors. 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. 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. Through its locally operated health plans, Molina Healthcare served approximately 4.0 million members as of December 31, 2020. Todd sits on the board of directors of the Long Beach Convention and Visitors Bureau and the Downtown Long Beach Alliance. 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 in Long Beach, CA 12 results - John Molina may also have lived outside of Long Beach, such as La Habra, Los Angeles and 2 other cities in California. a net There were so many conversationsclosed sessions and whatnot, Supernaw said in an interview. They had incredible work ethic, both of them. Molina Healthcare was founded in 1980 by C. David Molina, an emergency room physician in Long Beach, . As of 2022, John John Molina's net worth is $100,000 - $1M. On some days, city officials say, the hospital was seeing just two patients. He defeated Shane Mosely to retain his IBF Super Featherweight title. He remained as the director of ICU until 1976. . 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. That same year, he also bought the Post, he says, to improve news coverage of his hometown. Communitys losses, he says, were covered by MemorialCares four other hospitals and dozens of urgent care centers. Closed for nearly three years, many of its former staff members had retired or moved on to other jobs, leaving Community at the mercy of the market. We are so ingrained in the community and making it the best place it can be and teaching our children the same thing., Janet Molina-Watt Long Beach Molina Healthcare. We never got over 35.. Inmate Release Report Snapshot taken: 2/28/2023 6:00:11 AM Projected Release Date Booking No Last Name First Name 3/1/2023 6549164 AGUILERATOLEDO MARTIN We knew there were big costs. And we were all expected to help out. Worker-Related Support. . (Photo by . We were looking around. Category: Richest Athletes Baseball Players Net Worth: $45 Million Date of Birth: Jul 13, 1982 (40 years old) Place of Birth: Bayamn Gender: Male Profession: Baseball player Its health plans are operated by a network of subsidiaries, each of which is licensed as a health maintenance organization (HMO). We just need to improve the results.. Do Not Sell or Share My Personal Information, How to connect formerly incarcerated people with jobs in L.A. County. , We seek projects both for-profit and non-profit that offer unique potential for economic and social advancement, utilizing best ideas, resources, people, and practices to create an environment for sustained success. But behind the scenes, it was facing the modern realities of hospital economics. That should be enough to stop everyone in their tracks., It wasnt. Vasilomanolakis says he poured his heart and soul into saving the hospital, where he had worked for 39 years. ; 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 | Since its inception, the company has invested its resources in the development of numerous socially-conscious projects, including the renovation and revitalization of historic landmark properties, aquaculture initiatives to sustainably feed future generations, medical technologies to assist with current and future pandemics, independent media agencies to provide fact-based, hyperlocal journalism, and more. No way guaranteed for completeness, accuracy or in any other way such as of! Not available for comment named John Molina was confident he could deliver where MemorialCare had failed make... 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