-----Original Message-----
From: Mabel Chan @oshpd.state.ca.us]
Sent: Wednesday, March 03, 2010 3:12 PM
To: Beedle, Chet
Cc: McGlew, Timothy
Subject: RE: Line of Credit
Chet, I just want to let you know that my writeup has been reviewd by legal and is waiting for the Deputy's approval. There are a few trapsactions ahead of us. I will keep you posted. They are informed that there is a possibility that we need to go to another bank if Westamercia won't refinance the whole $833k. I did not like their proposal with only $500K refinanced. Our legal counsel is more than happy to speak with their approving authority on the nature of the Contract of Insurance which is backed by the full faith and credit of the State. Yeah I know, that's the scary part.
Mabel
From: Mabel Chan @oshpd.state.ca.us]
Sent: Wednesday, March 03, 2010 3:12 PM
To: Beedle, Chet
Cc: McGlew, Timothy
Subject: RE: Line of Credit
Chet, I just want to let you know that my writeup has been reviewd by legal and is waiting for the Deputy's approval. There are a few trapsactions ahead of us. I will keep you posted. They are informed that there is a possibility that we need to go to another bank if Westamercia won't refinance the whole $833k. I did not like their proposal with only $500K refinanced. Our legal counsel is more than happy to speak with their approving authority on the nature of the Contract of Insurance which is backed by the full faith and credit of the State. Yeah I know, that's the scary part.
Mabel
McGlew, Timothy
From: Chet Beedle
Sent: March 04, 2010 2:59 PM
To: Mabel Chan
Cc: McGlew, Timothy
Subject: RE: Line of Credit
Obviously, I like your proposal. I don't know if the State attorney talking with the bankers will help with their proposal, but I believe we should work up the proposal as you have indicated and see what they say. I told them that their large reduction in the line could drive the business to an alternate bank and that we could have significant monies coming next year from a general obligation bond. Nevertheless, they did not change their letter of interest.
"we could have significant
monies coming next year
from a general obligation
bond." 3/04/2010
Chet Beedle KVHD CFO
McGlew, Timothy
From: Mabel Chan
Sent: Wednesday, December 30, 2009 9:23 AM
To: Beedle, Chet
Subject: RE: LOC
I sort of hinted to management that we may want to increase the working capital LOC by 0.5M, they are not excited about the idea at this point but to me it does not mean no. I feel that Kern does need some more standby liquidity. Gary is fully aware of it. I am not sure that I fully understand the issues at Kern being a Critical Access Hospital and no one else does here. So, you will have to be patient and help me understand some things. We will arrange a meeting in a couple of months~ Thanks :) Mabel Chan
From: Mabel Chan oshpd.state.ca.us]
Sent: Wednesday, March 24, 20102:52 PM
To: Beedle, Chet
Subject: RE: Westamerica
Chet,
I got it. If we move the LOC, you do not need to move your operating accounts out of Kern Valley. When will you be posting the Finance Committee packet? I prepare a monthly report for the Director using your info.
Mabel
From: Mabel Chan
To: Beedle, Chet
Date: 4/20/2010 11:45 AM
Subject: Update
Hi Chet,
We found Tri-Counties Bank and they are very interested. They want the operating accounts though. Would that be a problem? I am still working on it. We were rejected by a couple other banks because of their limits to exposure to CA credit.
Do you know about how much more Kern may be able to pay BNY for the 8/1 payment? How is it going with the GO bond consu,lting process? Any feedback on public support? I may get sent to see you in Bakersfield for an update. I will keep you posted.
Thanks.
From:Beedle, Chet
Sent: Tuesday, April 20, 20104:01 PM
To: 'Mabel Chan'
Cc: Figueroa,Barbara; McGlew, Timothy
Subject: RE: Update
Hi Mabel. I am glad that you were able to find a bank that we can use....
We will continue to pay what we can for the 8/1 bond payment... I do not have any remaining reserves that I can use and I need to use day to day cash receipts to do our normal business and pay our payroll. This has been very difficult at times, but is possible if I don't use those receipts for other purposes.
We did a survey on the community's position regarding a general obligation bond. From all indications we have enough community support to slightly exceed the 2/3 majority necessary. Therefore, we are moving forward with the process. The Board packet minutes which we are now sending to you should keep you appraised of our progress. Regrettably, this will not solve our problem for August 1, but should be available for future years.
I have no problem with you coming for an update at any time. You are always welcome and I also welcome any suggestions you might have. Thanks for the update.
Chet
From: Chet Beedle
Sent: March 04, 2010 2:59 PM
To: Mabel Chan
Cc: McGlew, Timothy
Subject: RE: Line of Credit
Obviously, I like your proposal. I don't know if the State attorney talking with the bankers will help with their proposal, but I believe we should work up the proposal as you have indicated and see what they say. I told them that their large reduction in the line could drive the business to an alternate bank and that we could have significant monies coming next year from a general obligation bond. Nevertheless, they did not change their letter of interest.
"we could have significant
monies coming next year
from a general obligation
bond." 3/04/2010
Chet Beedle KVHD CFO
McGlew, Timothy
From: Mabel Chan
Sent: Wednesday, December 30, 2009 9:23 AM
To: Beedle, Chet
Subject: RE: LOC
I sort of hinted to management that we may want to increase the working capital LOC by 0.5M, they are not excited about the idea at this point but to me it does not mean no. I feel that Kern does need some more standby liquidity. Gary is fully aware of it. I am not sure that I fully understand the issues at Kern being a Critical Access Hospital and no one else does here. So, you will have to be patient and help me understand some things. We will arrange a meeting in a couple of months~ Thanks :) Mabel Chan
From: Mabel Chan oshpd.state.ca.us]
Sent: Wednesday, March 24, 20102:52 PM
To: Beedle, Chet
Subject: RE: Westamerica
Chet,
I got it. If we move the LOC, you do not need to move your operating accounts out of Kern Valley. When will you be posting the Finance Committee packet? I prepare a monthly report for the Director using your info.
Mabel
From: Mabel Chan
To: Beedle, Chet
Date: 4/20/2010 11:45 AM
Subject: Update
Hi Chet,
We found Tri-Counties Bank and they are very interested. They want the operating accounts though. Would that be a problem? I am still working on it. We were rejected by a couple other banks because of their limits to exposure to CA credit.
Do you know about how much more Kern may be able to pay BNY for the 8/1 payment? How is it going with the GO bond consu,lting process? Any feedback on public support? I may get sent to see you in Bakersfield for an update. I will keep you posted.
Thanks.
From:Beedle, Chet
Sent: Tuesday, April 20, 20104:01 PM
To: 'Mabel Chan'
Cc: Figueroa,Barbara; McGlew, Timothy
Subject: RE: Update
Hi Mabel. I am glad that you were able to find a bank that we can use....
We will continue to pay what we can for the 8/1 bond payment... I do not have any remaining reserves that I can use and I need to use day to day cash receipts to do our normal business and pay our payroll. This has been very difficult at times, but is possible if I don't use those receipts for other purposes.
We did a survey on the community's position regarding a general obligation bond. From all indications we have enough community support to slightly exceed the 2/3 majority necessary. Therefore, we are moving forward with the process. The Board packet minutes which we are now sending to you should keep you appraised of our progress. Regrettably, this will not solve our problem for August 1, but should be available for future years.
I have no problem with you coming for an update at any time. You are always welcome and I also welcome any suggestions you might have. Thanks for the update.
Chet
Chet Beedle, Financial manager, at KVHD board meeting Jauary 2009....
Beedle Boy looks a tad bit stressed these days, his hair is completely disheveled and his eyes are about ready to bug out like any usual Beatle. We need to cheer him up, lets sing him a song: "We lie too! Yeah, yeah, yeah! We lie too! Yeah, Yeah, Yeah! With lies like that, you know you should be mad...!" *Homage to The Beatles*
ReplyDeletethe state can't pay the hospital can;t apy so we are paying the peopel I mean. or thats what it seems like to me. they are out of money in california and the dont want to say it to the world.
ReplyDeleteI have been in Califonia, a big part of my life so I remember not like this.
people I have spoke about this say it is one thing an er but it is not.
this sounds suspicous to me I don;t trust these people here never have. getting bills from a er trip there more than four years now!
really sorry but I don't trust the state a bit.
what I see here is we are being used and it keeps on going.
I'm supporting my family not a hospital that uses receipts for raises and then lies to the state of California. This needs to be reported to authorities now!
ReplyDeleteWe let this go too far with no action. Since the state is involved we don't have a chance.
what a mess!
Yes this is a mess. And with Mr. Beedle at the helm it can only get worse. I still want to know what happened to the 74,999 dollars that was short in the cash flow numbers. Or was that an error in subtraction. This is an awfully big mistake.
ReplyDeleteNow that Cal Mgt is on the case the Cover Up will begin. Stand by for the bus load of
ReplyDeleteout-of-town voters, they will get there PO Box's and make sure the GOB passes. Just like Wal-mart when they want something bad enough, they will do what ever it takes to get it pushed thruogh.
I try to be positive about the hospital but it the "real" problems are bubbling to the surface what this has been all about.
ReplyDeleteThe lies in the newspaper keep the truth from the reader makes me vomit. The stories don't make much sense, so why are they still here in our town if they want to cover move to Washington DC. Our club can't even get a letter printed on time, mistakes come all the time. thankfully there are others who do care.
Saw the letters in comments, real nice sun editor i can see you care about this area that you play games with your letters to the paper.
How about a boycott of the KRV Sun?
Don't advertising, no buying, read the Courier it at least has some class.
The hospital already lost most of the people who are afraid to go there anymore so they need to be kicked out on there #@@%@.
RECALL!
Not really understanding what the state is doing in this but big Government is too big too fat to do anything ecxept roll over.
RECALL the hospital-Boycot the KRV Sun. I know the town would cheer even a parade.
shut it down if they are sayig that we have big money to pay the state, we don't. they told us they were building an emergency room doesn't look that way to me. If the state of Califonia is on this we got big troubles. I agree with others saying fire the hospital people now. can't fire the state wish we could.
ReplyDeleteIf I vote for the emergency department will it be done before I'm dead?
ReplyDelete