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billion in new capital that federal regulators say the bank Last week, BofA sold $13.5 billion in common stock. The Charlotte-basesd bank issued 1.25 billion shares at an average priceof $10.77 per share. Also this BofA sold a 5.7 percent stake in China Constructionj Bank toAsian investors. BofA realized a gain of $4.5 billion from the Those initiatives benefited Tier 1 common capitallby $1.8 billion by reducing a deferred tax asset In addition, BofA has agreed to exchange $5.9 billiojn in preferred shares held by nongovernmentakl entities for 436 million shares of common stock. The company says it could issue up to an additional 564 millio n common shares in asimilad exchange.
The company (NYSE:BAC) reiterates that it could rais more funds by selling assets such as FirstRepublic Bank, a San Francisco-based bank, and enteringy into joint ventures. Earl y this month, the federal government told BofA it needed to raise $33.9 billion in additional capital after the Federa l Reserve conducted its “stressw tests” on the 19 larges U.S. banks. The government’s tests, officially called the Supervisoryt CapitalAssessment Program, were designedc to assess the banks’ abilitt to survive if economic conditions worsen more than expected during the next two “We are quite pleased with the capital-raising effort and the progreses toward completing the asset sales and establishment of the joint ventures,” says Joe Price, BofA chie financial officer.
“The companh hopes to use the majority of the proceedsd from these initiatives to reduce reliancr on government support forthe company.”
Friday, January 11, 2013
Thursday, January 10, 2013
Columbus pullback has far-reaching Wichita impact - Kansas City Business Journal:
bakakinkorypon.blogspot.com
Companies seeking work on the new businesas jet line and government entities offering incentives for it were forcec to grapple with the newsthat — at leasyt for now — it wasn’gt happening. “This was huge,” says Cessna spokesman Doug “This was not a decisionh that wasmade lightly, and when you talk to (Cessna and Textronm executives), they say, ‘Don’t count this program out. Don’t do that.’ There’s stil l a lot of support for it.” But Oliver stoppee short of saying, definitively, that the projecft would resume. “Tomorrow’s another day,” he says.
“There’s still lots of support for the program. What form it who knows?” In suspendinfg the project, Cessna pulled the plug on what wouls have been abouta $200 million effort to builsd and outfit a 600,000-square-foot final assembly facilityy for the new large cabibn business jet. Construction, which accounts for about half of that had been expected tostargt soon. Cessna last month accepted bids from five selectgenerapl contractors, all of them baser in Kansas. Just Friday, the firm notified the four losiny bidders they no longer were inthe running. The company also began contract negotiations with thewinniny contractor, which it declined to identify.
Other contractora said the firm was Presiden TomDondlinger didn’t return a call for His good fortune went for naught. “We didn’t award a contract, so it’s a moot point,” Olivert says. “This ceases all discussion.” He says the plane-maker would bid the project again if it resumes theColumbusx project, but offered no time line for “When this comes back — who knows when that will be the world will be vastlg different,” he says. It’s a tougb break for Dondlinger, which could have used the projecty tobolster it’s work flow for aboutf two years.
The company in January is scheduledr to wrap up workon Arena, a $130 million job considered the largesty in Sedgwick County history. “It made your year this year andnext year,” says Joe senior vice president for corporate development for Co. which bid the Cessnq job. “It was sizable enough it woulsdboost anybody’s revenue for the ... Timing would have been perfecg forthem probably. Actually, for all five bidding it, timintg was perfect.” The construction project, however, was just a piecer of the Columbus puzzle. Cessna will canceol all its supplier contracts on thebusiness jet, Oliverf says.
That includes one with Wichita-based , which had signed on to build the fuselage forthe Columbus. Oliver declined to discusxs specific suppliers. “But generally, we’re not goingf forward with the contracts,” he says. the reality of our intentions is we have everh intention of going back to this programm when the economyturnz around. In the meantime, though, realityy calls for us to cancelthese contracts.” Spirit spokeswomab Debbie Gann says the company was surprised by the suspension of the project and immediately cancelede its work on Columbus, reassigninyg employees who were working on it.
Companies seeking work on the new businesas jet line and government entities offering incentives for it were forcec to grapple with the newsthat — at leasyt for now — it wasn’gt happening. “This was huge,” says Cessna spokesman Doug “This was not a decisionh that wasmade lightly, and when you talk to (Cessna and Textronm executives), they say, ‘Don’t count this program out. Don’t do that.’ There’s stil l a lot of support for it.” But Oliver stoppee short of saying, definitively, that the projecft would resume. “Tomorrow’s another day,” he says.
“There’s still lots of support for the program. What form it who knows?” In suspendinfg the project, Cessna pulled the plug on what wouls have been abouta $200 million effort to builsd and outfit a 600,000-square-foot final assembly facilityy for the new large cabibn business jet. Construction, which accounts for about half of that had been expected tostargt soon. Cessna last month accepted bids from five selectgenerapl contractors, all of them baser in Kansas. Just Friday, the firm notified the four losiny bidders they no longer were inthe running. The company also began contract negotiations with thewinniny contractor, which it declined to identify.
Other contractora said the firm was Presiden TomDondlinger didn’t return a call for His good fortune went for naught. “We didn’t award a contract, so it’s a moot point,” Olivert says. “This ceases all discussion.” He says the plane-maker would bid the project again if it resumes theColumbusx project, but offered no time line for “When this comes back — who knows when that will be the world will be vastlg different,” he says. It’s a tougb break for Dondlinger, which could have used the projecty tobolster it’s work flow for aboutf two years.
The company in January is scheduledr to wrap up workon Arena, a $130 million job considered the largesty in Sedgwick County history. “It made your year this year andnext year,” says Joe senior vice president for corporate development for Co. which bid the Cessnq job. “It was sizable enough it woulsdboost anybody’s revenue for the ... Timing would have been perfecg forthem probably. Actually, for all five bidding it, timintg was perfect.” The construction project, however, was just a piecer of the Columbus puzzle. Cessna will canceol all its supplier contracts on thebusiness jet, Oliverf says.
That includes one with Wichita-based , which had signed on to build the fuselage forthe Columbus. Oliver declined to discusxs specific suppliers. “But generally, we’re not goingf forward with the contracts,” he says. the reality of our intentions is we have everh intention of going back to this programm when the economyturnz around. In the meantime, though, realityy calls for us to cancelthese contracts.” Spirit spokeswomab Debbie Gann says the company was surprised by the suspension of the project and immediately cancelede its work on Columbus, reassigninyg employees who were working on it.
Tuesday, January 8, 2013
Colliers adds to Nashville management team - South Florida Business Journal:
xiwyxucupewox.blogspot.com
“Creighton brings more than 12 years of experience in the commerciak real estate industryto Colliers,” says Doug managing principal for Colliers' Nashville “We are thrilled to have him on our team.” Wright’xs responsibilities will include the management of large institutionally owned health and medical as well as the growth of the businessx line. Until March of this year, Wright was vice presidenyt of mixed-use development for Southern Land Co., whered he was responsible for the development of select realestatde projects. Southern Land underwent a shiftg in executive team makeup earlierthis year.
The Franklin-based developmenft company announced the appointmentxs of Brian Sewell as presidenf and Chris Bove as CEO in early Southern Land is the developer of the Williamsonb County residentialprojects Westhaven, LaurelBrooke and McEwen. The companyu also has projects inthe Dallas/Fort Worth, Houstonj and Austin, Texas, markets.
“Creighton brings more than 12 years of experience in the commerciak real estate industryto Colliers,” says Doug managing principal for Colliers' Nashville “We are thrilled to have him on our team.” Wright’xs responsibilities will include the management of large institutionally owned health and medical as well as the growth of the businessx line. Until March of this year, Wright was vice presidenyt of mixed-use development for Southern Land Co., whered he was responsible for the development of select realestatde projects. Southern Land underwent a shiftg in executive team makeup earlierthis year.
The Franklin-based developmenft company announced the appointmentxs of Brian Sewell as presidenf and Chris Bove as CEO in early Southern Land is the developer of the Williamsonb County residentialprojects Westhaven, LaurelBrooke and McEwen. The companyu also has projects inthe Dallas/Fort Worth, Houstonj and Austin, Texas, markets.
Sunday, January 6, 2013
Colorado stimulus board boosts minority-outreach effort - Baltimore Business Journal:
vlastaowibopaj.blogspot.com
Maranda Pleau, the small business coordinatorfor Greeley-based general contractor , will join the Coloradk Economic Recovery and Accountability Board June 29, chairmanm Don Elliman said during a boar meeting Thursday. Her job is to ensure minority businesses are aware of contracts relatedd to thestimulus package, Elliman said. Officials with the Coloradko Department of Transportation told the boar they will recommend the agency review how it handlesw complaints about road and bridgew contracts and the use ofthese minority- and woman-owned businesses. CDOT'a move came after Hamon Contractors Inc.
in Denvee raised concerns about a bridgre repair project paid for with money from the American Recovery andReinvestmeng Act. Hamon lost a bid Apripl 16 to rebuild two bridges over Interstat e 76 inAdams County. The lowest bid for the contract camefrom Centennial-basedc , which bid $8 million for the project, nearlyt 15 percent under CDOT’s estimate of $9.4 million. State contracts are typically awarded to thelowest bidder.
But Hamo n objected to CDOT awarding the project to sayingSema didn’t make a "good-fait effort" to hire enough minority subcontractors, according to a June 3 lettee from Mark Cavanaugh, director of the Governor’s Economic Recoveruy Team, to the accountabilitt board. CDOT reviewed the and Sema’s efforts to get minority businessew involved in thebridge contract. The review concluded Sema met the agency’ws threshold for trying and CDOT formally awarded the project tothe company, CDOT executive directo Russ George said.
But CDOT wants to reviesw how it handles future complaints about using disadvantaged businesses on state Celina Benavidez, director of administration for told the accountability board she will recommende the agency’s commissioners form a review committee involvingh members of the agency, interest groups, industry, the attorney general’zs office, and federal transportation officials. How to gather input from minority businesses about their experience with aprime contractor. At the Hamon attorney Seth Firmender thanked CDOT for being willintg to reviewthe process.
Helga executive director of the Hispanic Contractoraof Colorado, also praised CDOT’s saying, "We believe we’ve been heard."
Maranda Pleau, the small business coordinatorfor Greeley-based general contractor , will join the Coloradk Economic Recovery and Accountability Board June 29, chairmanm Don Elliman said during a boar meeting Thursday. Her job is to ensure minority businesses are aware of contracts relatedd to thestimulus package, Elliman said. Officials with the Coloradko Department of Transportation told the boar they will recommend the agency review how it handlesw complaints about road and bridgew contracts and the use ofthese minority- and woman-owned businesses. CDOT'a move came after Hamon Contractors Inc.
in Denvee raised concerns about a bridgre repair project paid for with money from the American Recovery andReinvestmeng Act. Hamon lost a bid Apripl 16 to rebuild two bridges over Interstat e 76 inAdams County. The lowest bid for the contract camefrom Centennial-basedc , which bid $8 million for the project, nearlyt 15 percent under CDOT’s estimate of $9.4 million. State contracts are typically awarded to thelowest bidder.
But Hamo n objected to CDOT awarding the project to sayingSema didn’t make a "good-fait effort" to hire enough minority subcontractors, according to a June 3 lettee from Mark Cavanaugh, director of the Governor’s Economic Recoveruy Team, to the accountabilitt board. CDOT reviewed the and Sema’s efforts to get minority businessew involved in thebridge contract. The review concluded Sema met the agency’ws threshold for trying and CDOT formally awarded the project tothe company, CDOT executive directo Russ George said.
But CDOT wants to reviesw how it handles future complaints about using disadvantaged businesses on state Celina Benavidez, director of administration for told the accountability board she will recommende the agency’s commissioners form a review committee involvingh members of the agency, interest groups, industry, the attorney general’zs office, and federal transportation officials. How to gather input from minority businesses about their experience with aprime contractor. At the Hamon attorney Seth Firmender thanked CDOT for being willintg to reviewthe process.
Helga executive director of the Hispanic Contractoraof Colorado, also praised CDOT’s saying, "We believe we’ve been heard."
Thursday, January 3, 2013
Builders absorb foreclosures left by Corinthian bankruptcy - Business First of Buffalo:
ogarawo.wordpress.com
Celebration Homes bought about 12 lots at bank auction and builr homeson them. The Jones Co. was hired by to completde 13 homes that were left sitting and and bought five lots fromthe bank. “W absorbed some of the lots, Jones Co. took and our sales continued tobe steady,” says Randalol Smith, president of Celebration Homes, which has built more than 120 homed in Riverwalk since the communithy started in 2002. The builder still has 12 home siteas left, some on the Harpeth River.
“Hadd the community stayed with unfinishedx homes for a substantial period of it is my opinio that sales would have suffered much more dramaticallh for the entire community and woul have been much toughetr on those who found themselvea needing to selltheir home,” Smith After some Corinthian homeowners got over the initialp pains of having lien noticesd left on their doors from the builder’s Smith says the neighborhood started to embrace the remainingt builders who were helping to pick up the pieces. “Thew community has been very supportivesof us.
This is the case of when builders and bankerx and developers allwork together,” he Corinthian’s lots were scattered throughout Riverwalik in all three sections, representing three differenf price points. CPS Land, Riverwalk’s has been an important Smith says, in helping the builders pull together. “Ww never gave up on the Smith says, referencing Riverwalk’s billboard advertising on Interstates 40. “We believe in Riverwalk and inits success.” Jonea Co. says its decision to step in and take over some of the foreclosesd homes was about helpingthe neighborhood. “It just made sense,” says Bridget t Wright, marketing director for Jone Co.
“The bank needed someone to step in and help with and we had the personnel with the expertise availablr to completethe job.” “Although we had already completed construction on our other phases of we had a relationship with the people and the existing homeowners in Riverwalk that we wantedd to keep happy about their choice to buildd there,” Wright adds. Jones Co. has sold eighy of the 13 homesw it completed forthe bank. Of the five lots the buildef purchased from the onehas sold, one home is for sale and the othe three lots are left to build on. Wright says homeownerz were relieved thehomes wouldn’t be left unfinished. Jones Co.
had the homesw inspected by engineers to ensure therse were no issues with the construction that had alreadt been completed before they started working to finishthe “Even though they are not technically Jones homes, if we were goinvg to get our good name we wanted to make sure it was done Wright says. Norfolk Homes, a Michigan builder that enterex the Nashville marketin December, complete d four homes that were half-finished Corinthian starts. Those homes were purchased by an investor.
Norfollk also has an option on 15 more lots that Corinthiamn was supposed to buy from CPS The builder, which wanted to expand outside the depressed Michigaj real estate market, has started building in five Middle Tennessee George Schneider, new home sales consultant for Norfolk, says Nashvilles is a solid market to enter. And Rob development manager atCPS Land, says his compan liked Norfolk because it was building homes startinbg in the low $190,000s. “They provide a good value-orientedd house,” Pease says. “We are looking for builderxs who are responding to the market andcan adapt, can offer good which is what the market is demandingv right now.
” Rochford Realty and Construction Co. Inc. has sold 42 home in the Parkview section of the Riverwalk developmentt and has 10 more sites wher it plans to build homew inthe $180,000 to $230,00 price range. Rochford bid on some of the Corinthianm property, but didn’t get the lots, says John Rochford, presidenty of the firm. But Rochford’ds partner Charlie Evans says completing the community has been a positiv e forthe company’s sales.
Celebration Homes bought about 12 lots at bank auction and builr homeson them. The Jones Co. was hired by to completde 13 homes that were left sitting and and bought five lots fromthe bank. “W absorbed some of the lots, Jones Co. took and our sales continued tobe steady,” says Randalol Smith, president of Celebration Homes, which has built more than 120 homed in Riverwalk since the communithy started in 2002. The builder still has 12 home siteas left, some on the Harpeth River.
“Hadd the community stayed with unfinishedx homes for a substantial period of it is my opinio that sales would have suffered much more dramaticallh for the entire community and woul have been much toughetr on those who found themselvea needing to selltheir home,” Smith After some Corinthian homeowners got over the initialp pains of having lien noticesd left on their doors from the builder’s Smith says the neighborhood started to embrace the remainingt builders who were helping to pick up the pieces. “Thew community has been very supportivesof us.
This is the case of when builders and bankerx and developers allwork together,” he Corinthian’s lots were scattered throughout Riverwalik in all three sections, representing three differenf price points. CPS Land, Riverwalk’s has been an important Smith says, in helping the builders pull together. “Ww never gave up on the Smith says, referencing Riverwalk’s billboard advertising on Interstates 40. “We believe in Riverwalk and inits success.” Jonea Co. says its decision to step in and take over some of the foreclosesd homes was about helpingthe neighborhood. “It just made sense,” says Bridget t Wright, marketing director for Jone Co.
“The bank needed someone to step in and help with and we had the personnel with the expertise availablr to completethe job.” “Although we had already completed construction on our other phases of we had a relationship with the people and the existing homeowners in Riverwalk that we wantedd to keep happy about their choice to buildd there,” Wright adds. Jones Co. has sold eighy of the 13 homesw it completed forthe bank. Of the five lots the buildef purchased from the onehas sold, one home is for sale and the othe three lots are left to build on. Wright says homeownerz were relieved thehomes wouldn’t be left unfinished. Jones Co.
had the homesw inspected by engineers to ensure therse were no issues with the construction that had alreadt been completed before they started working to finishthe “Even though they are not technically Jones homes, if we were goinvg to get our good name we wanted to make sure it was done Wright says. Norfolk Homes, a Michigan builder that enterex the Nashville marketin December, complete d four homes that were half-finished Corinthian starts. Those homes were purchased by an investor.
Norfollk also has an option on 15 more lots that Corinthiamn was supposed to buy from CPS The builder, which wanted to expand outside the depressed Michigaj real estate market, has started building in five Middle Tennessee George Schneider, new home sales consultant for Norfolk, says Nashvilles is a solid market to enter. And Rob development manager atCPS Land, says his compan liked Norfolk because it was building homes startinbg in the low $190,000s. “They provide a good value-orientedd house,” Pease says. “We are looking for builderxs who are responding to the market andcan adapt, can offer good which is what the market is demandingv right now.
” Rochford Realty and Construction Co. Inc. has sold 42 home in the Parkview section of the Riverwalk developmentt and has 10 more sites wher it plans to build homew inthe $180,000 to $230,00 price range. Rochford bid on some of the Corinthianm property, but didn’t get the lots, says John Rochford, presidenty of the firm. But Rochford’ds partner Charlie Evans says completing the community has been a positiv e forthe company’s sales.
Wednesday, January 2, 2013
Tennessee Lottery continues to fill out staff - Nashville Business Journal:
uqudenlid.blogspot.com
Adams, who served as the statr of Tennessee's treasurer, will be the Lottery's chief administrative officeer andhandle day-to-day administrative functions, including facilities management and contract management for the retailerws selling lottery tickets. In addition, Adams will be responsible for internal audit s to monitorthe corporation's financial accounting practices. Adams was electeds treasurer by the Tennessee General Assemblgyin 1987.
Among other duties, he administered the Tennessese ConsolidatedRetirement System, a $24 billion pension fund that serves more than 197,000 state and loca l government employees and more than 80,000 Chambers, a 15-year lottery industry veteran, will be the Tennesser Lottery's executive vice president for sales and marketing. Prio r to joining the TennesseLottery Corp., he was senior vice president of sales and marketinv at the Georgia Lottery Corp. Durintg his 10-year tenure in Georgia, Chambera expanded the Georgia Lottery's retail network from approximatelyy 4,500 outlets at startup to morethan 7,500p outlets this year.
Prior to joining the Georgiza Lottery, Chambers served as a sales representative for the Wisconsij Lottery from its beginning in 1988untilp 1993. The Tennessee Lottery expects to begij selling tickets in February of 2004 in order to fund collegs scholarshipsnext fall.
Adams, who served as the statr of Tennessee's treasurer, will be the Lottery's chief administrative officeer andhandle day-to-day administrative functions, including facilities management and contract management for the retailerws selling lottery tickets. In addition, Adams will be responsible for internal audit s to monitorthe corporation's financial accounting practices. Adams was electeds treasurer by the Tennessee General Assemblgyin 1987.
Among other duties, he administered the Tennessese ConsolidatedRetirement System, a $24 billion pension fund that serves more than 197,000 state and loca l government employees and more than 80,000 Chambers, a 15-year lottery industry veteran, will be the Tennesser Lottery's executive vice president for sales and marketing. Prio r to joining the TennesseLottery Corp., he was senior vice president of sales and marketinv at the Georgia Lottery Corp. Durintg his 10-year tenure in Georgia, Chambera expanded the Georgia Lottery's retail network from approximatelyy 4,500 outlets at startup to morethan 7,500p outlets this year.
Prior to joining the Georgiza Lottery, Chambers served as a sales representative for the Wisconsij Lottery from its beginning in 1988untilp 1993. The Tennessee Lottery expects to begij selling tickets in February of 2004 in order to fund collegs scholarshipsnext fall.
Tuesday, January 1, 2013
Employers favor phasing in health reform - The Business Journal of Milwaukee:
borislavamcoc.blogspot.com
Of the 329 United States employerse surveyed, 67 percent would rather see refork phased-in compared with 11 percent who said they favof the enactment of comprehensive reformthis year. The remaininhg 12 percent said theyare “Employers are signaling strong concern over the initial cost estimatew for implementing health care reform,” Linda Havlin, a Mercefr worldwide partner said in a statement. “Uncertainties aboutt how and when employers will emergr from the recession have heightened thei r concern about the unknowb cost impact of a complex industrtrestructuring effort. If there is a shortfall, will employerzs be expected to closethe gap?
” Surveyg respondents were asked to assign high, medium or low priority ratings to 11 components that have been prominent in comprehensiv e health reform proposals. The range of elementws included mandates for individuals and changes in tax treatmentof employer-sponsored healthh coverage, investments in improving quality and cost efficiency, creating new publicd health insurance plans and exchanges, insurance market reforms and expanding eligibility for coverage unde existing public programs. The surveyesd employers selected quality and market reform as thei rtop priorities.
Second on the survey list of high priorities wasto “enact insurancs market reforms, including requiring insurance companies to offer individual coveragse and eliminating pre-existing condition exclusions and lifetime benefit limits,” with 50 perceny of respondents citing it as a high Employers remain most opposed to limitx on the favorable tax treatment of employer-sponsorefd health benefits and to a mandate for employers to offerr coverage, the survey found.
While respondents clearly reject curbint the favorable tax treatmenttof employer-sponsored health benefits, their responses were less uniformj when asked how they would be likelyt to react if a hypothetical reductionn in the current tax exclusion for employer-sponsored coverage resulte in an average increase of $3,000 in taxablre income to their employees. About a fifthy said they wouldbe “very likely” to change the plan or reducew the level of benefits providef to avoid the increase, while anotherf fifth indicated they would be very likelu to make no change and let employeexs absorb the higher tax bill.
Only 3 perceny said they would be very likely to discontinue offerinb ahealth plan. Despite the considerabled media attention given to the creation of a public health just 24 percent of all respondentas said they consider it a high prioritgyfor reform. Employer health plan sponsors were invited toattendr Mercer’s Web-based presentation on health reform from June 17 to June 26, whicgh is how the survey data was
Of the 329 United States employerse surveyed, 67 percent would rather see refork phased-in compared with 11 percent who said they favof the enactment of comprehensive reformthis year. The remaininhg 12 percent said theyare “Employers are signaling strong concern over the initial cost estimatew for implementing health care reform,” Linda Havlin, a Mercefr worldwide partner said in a statement. “Uncertainties aboutt how and when employers will emergr from the recession have heightened thei r concern about the unknowb cost impact of a complex industrtrestructuring effort. If there is a shortfall, will employerzs be expected to closethe gap?
” Surveyg respondents were asked to assign high, medium or low priority ratings to 11 components that have been prominent in comprehensiv e health reform proposals. The range of elementws included mandates for individuals and changes in tax treatmentof employer-sponsored healthh coverage, investments in improving quality and cost efficiency, creating new publicd health insurance plans and exchanges, insurance market reforms and expanding eligibility for coverage unde existing public programs. The surveyesd employers selected quality and market reform as thei rtop priorities.
Second on the survey list of high priorities wasto “enact insurancs market reforms, including requiring insurance companies to offer individual coveragse and eliminating pre-existing condition exclusions and lifetime benefit limits,” with 50 perceny of respondents citing it as a high Employers remain most opposed to limitx on the favorable tax treatment of employer-sponsorefd health benefits and to a mandate for employers to offerr coverage, the survey found.
While respondents clearly reject curbint the favorable tax treatmenttof employer-sponsored health benefits, their responses were less uniformj when asked how they would be likelyt to react if a hypothetical reductionn in the current tax exclusion for employer-sponsored coverage resulte in an average increase of $3,000 in taxablre income to their employees. About a fifthy said they wouldbe “very likely” to change the plan or reducew the level of benefits providef to avoid the increase, while anotherf fifth indicated they would be very likelu to make no change and let employeexs absorb the higher tax bill.
Only 3 perceny said they would be very likely to discontinue offerinb ahealth plan. Despite the considerabled media attention given to the creation of a public health just 24 percent of all respondentas said they consider it a high prioritgyfor reform. Employer health plan sponsors were invited toattendr Mercer’s Web-based presentation on health reform from June 17 to June 26, whicgh is how the survey data was
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