Category: Business and Economy
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Virginia Hospital Profits Soared Far Above National Averages – Again – in 2021
by James C. Sherlock The predictions for hospital finances in 2021 forecast Armageddon. Then the actual financial data from 5,600 U.S. hospitals in 2021 were assessed. Based on those data the median operating margin for U.S. hospitals in 2021 was actually a loss of 1.5%. Meanwhile, the average operating margin for hospitals was a loss of…
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Continuing Turmoil at Danville and Martinsville Hospitals Raises Questions of Oversight – Again
by James C. Sherlock Beckers Hospital Review reports that Sovah Health hospitals in Danville and Martinsville have eliminated the Chief Operating Officer (COO) positions at both hospitals. Sovah announced that the responsibilities of those two positions will now be absorbed by “other members of the existing team.” Whatever that may mean. Management turmoil at Sovah…
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We Have a Problem and It Reflects Poorly on Prince William County
by Kristina Nohe Go to almost any parking lot in Prince William County and invariably you will see discarded gloves and masks, littered reminders of the pandemic we all lived through. Litter tells others what the people in a community think about where they live. If someone walked into your home and there were chip…
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Youngkin Seeks Bids on Future Offshore Wind
By Steve Haner Governor Glenn Youngkin (R) has proposed a stronger requirement in state law that any second wave of offshore wind serving Virginia be subjected to a competitive procurement process, rather than simply allowing Dominion Energy Virginia to build it with all the costs and risks imposed on its customers. The planned 176-turbine Coastal…
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Virginia’s Community Banks, Under Stress, are Crucial to the Economy, Small Business and Small Communities
by James C. Sherlock In general, I do not write enough about Virginia small businesses. Small business is both the heart and soul of the Virginia economy. I have no personal financial interest in Virginia’s community banks, but all of us need them to be healthy. Because community banks disproportionately fund small business. The Federal…
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Maglev & Light Rail: Once-Shiny Objects Now Tarnished By Reality
by Kerry Dougherty Gosh. It isn’t often the local newspaper provides two examples of “shiny object stupidity” in one week. But The Virginian-Pilot delivered. On Wednesday the newspaper quietly reported on the absolute demise of the failed maglev system at Old Dominion University. That’s magnetic levitation technology for those of you who weren’t around here…
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APCO VCEA Plan Keeps Coal Until 2040 (In WVA)
by Steve Haner Appalachian Power Company (APCO), serving Western Virginia, has now filed its annual update on Virginia Clean Economy Act compliance, including long term bill impact estimates. As the State Corporation Commission begins its review process, here are some highlights: The projected increases in electric bills are little changed and perhaps a bit lower…
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The Registered Nurse Shortage
by James C. Sherlock I have reported often about the severe and increasing shortages of nurses both in Virginia and nationally. At some point in nearly everyone’s life, we literally will not be able to live without the help of a nurse, whether for injury or illness or just declining overall health. We need both…
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Lower Bills? Green Energy Keeps Them Climbing.
by Steve Haner Customer cost projections for compliance with the Virginia Clean Economy Act have increased again from the first such estimates made in 2020. The bill for 1,000 kilowatt hours of electricity from Dominion Energy Virginia to power a home for a month may rise almost $100, or 83%, by 2035. Dominion residential customers…
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RVA 5×5: Heard the Noise, Seen The Light
by Jon Baliles Well, it seems Mayor Levar Stoney has finally picked up on a problem on Richmond’s streets that many of us have known about for three-plus years. If you live downtown, or in the Fan, Oregon Hill, Jackson Ward, the Museum District, Randolph, Scott’s Addition, Byrd Park, Malvern Gardens, parts of Northside, Monroe…
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“Cheap” Solar Costs More Than Offshore Wind?
by Steve Haner In preparing for the latest round of new additions to its solar generation assets, Dominion Energy Virginia rejected eight privately- developed projects which were substantially cheaper than the projects it wanted to build on its own with ratepayer money. Just how much more expensive the company-owned projects will be is not clear,…
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Virginia Hospitals Under Pressure on Finances and Personnel
By James C. Sherlock I have written for years about Virginia hospitals and their state oversight, including Virginia’s monopolistic Certificate of Public Need (COPN) law and its administration by the Department of Health. Virginia hospitals, and indeed those across the nation, are now under more stress than in generations. Hospitals nationally are under financial pressures…
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RVA 5×5: Monopoly on Richmond
by Jon Baliles There has been a lot of chatter this week about Monopoly doing a Richmond version featuring notable places and landmarks to replace the well-known properties like St. James’ Place, Reading Railroad, and Boardwalk. According to Em Holter at the Richmond Times-Dispatch, the creators of Monopoly want to hear from YOU about what…
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Under RGGI Virginia Releases More CO2, Not Less
by Steve Haner Since Virginia joined the Regional Greenhouse Gas Initiative (RGGI) compact at the start of 2021, according to data reported by the U.S. Energy Information Agency, the amount of carbon dioxide emitted to provide electricity to customers in the state has grown. Despite two years of RGGI caps and taxes, total CO2 emissions…
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RVA 5×5: Incentivizing Derelicts
by Jon Baliles Housing has become a vital issue all across our region; it is a pressing need, but not simple to resolve. It will be with us for some time to come and we have to seek out a multi-prong strategy to address it. But there are some steps that can be taken to…