Gov. Huntsman testifies on need for health care reform
February 13th, 2009 @ 3:47pm
By Richard Piatt
Utah lawmakers are making progress in giving people more options on health insurance. Gov. Jon Huntsman testified today on behalf of health system reform.
The insurance component was one of three health care related bills that passed to the full House. The first bill is intended to give consumers more health insurance options. House Speaker David Clark says the bill will increase transparency and affordability in the health care market. The other two bills that passed seek to simplify the business side of health care. Another requires state contractors to provide health insurance.
In all cases, legislators are being thanked for recognizing the system needs fixing. They say this is a starting point, with more significant reforms coming when the economy recovers.
Health care advocate Judi Hilman said, “In order to do comprehensive health system reform, you need a lot of money. And this year you don’t have any money, you have the opposite of money, there are deficits as far as the eye can see. So I appreciate that, that we are just not ready to tackle the beast.”
All three bills will now go to the full House for debate.
Legislators also say they’ll continue to work on revamping the health care system, which they say is in need of reform in many ways.
Advocates for the poor are still concerned that health insurance is way too expensive for a lot of people. That issue remains a challenge for lawmakers.
Posted in
UBI NEWS Tags:
Health Care,
Insurance,
Reform,
Utah
(KSL News) Gov. Jon Huntsman is hoping to alleviate some of the state’s budget woes with a $14-billion wish list for Barack Obama’s $850-billion economic stimulus plan.
The state estimates 124,000 jobs could be created if the entire list is federally funded. $11.7 billion of the list is slated for roads, including I-15 reconstruction in Utah County, improvements on US Highway 6, and the Mountain View Corridor.
The rest of the stimulus money would go to transit, water and building projects.
Posted in
UBI NEWS Tags:
Economy,
Jobs,
Utah
From KSL.COM
Falling gas prices seem to come as good news to drivers, but they are the cause of hard times at Ogden-based Flying J.
The gasoline refining and distribution company filed for Chapter 11 bankruptcy protection; but at the same time, the company says it is not planning layoffs or closures right now.
Falling oil prices and a tight credit market both hit Flying J hard. Now, the company says it will reorganize while it recovers from significant, unavoidable debt.
Several months ago, the company bought a large amount of crude oil when prices were still at record levels, topping at least $140 a barrel. Today, oil is selling for a little over $40 a barrel. It’s been dropping for months. What the difference means for Flying J corporate is millions of dollars of debt. And, because credit is frozen, the company can’t get a loan to cover its short-term losses.
J. Phillip Adams, Flying J President and Chief Executive Officer, said: “Even though Flying J today is a successful and historically profitable company, it faced near-term liquidity pressure from an unprecedented combination of factors: the precipitous drop in the price of oil and the lack of available financing from our traditional sources due to disrupted credit markets. With this sudden and unanticipated inability to meet our liquidity needs, we regret that we had no other choice than a Chapter 11 filing to enable us to stabilize our financial base.”
Ironically, the same market forces are offering relief for consumers. Gas prices at the pump have dropped by half in two months. One driver we spoke with said, “It’s making a difference, definitely. It’s nice.”
Another driver said, “It’s far more affordable to get where I need to go. It’s great. I love it.”
While Flying J reorganizes, the company says it will continue operations as usual and none of its refineries or 250 Travel plazas will close. Adams said, “The good news is we have valuable assets, we do not expect layoffs will be necessary, and we are optimistic we will be able to generate substantial cash internally to allow us to meet our obligations going forward.”
What’s happening could be a bad sign for Utah’s overall economy, though. Financial analyst for Wells Fargo Kelly Matthews says the trend deserves close attention. “I’m worried that if this process goes further and continues, it will be reflected in adverse consequences in terms of our employment status and the strength of our companies.”
Flying J has 16,000 employees in the U.S. and Canada. It’s one of the largest private companies in the nation, with $16 billion in sales last year.
Posted in
UBI NEWS Tags:
Economy,
Energy,
Utah
