In the Region Md., 4 other states in study on quality...

BUSINESS DIGEST

November 20, 2001

In the Region

Md., 4 other states in study on quality of nursing homes

Maryland will be one of five states in a federal pilot project to collect and publish more detailed data on nursing home quality, the Department of Health and Human Services said yesterday.

HHS will release 11 measures of how people receive care - for example, how many patients in each nursing home are physically restrained, how many have lost weight and the frequency with which they contract new infections.

Besides Maryland, the Centers for Medicare and Medicaid Services will begin in January collecting information on homes in Colorado, Ohio, Rhode Island and Washington state. The data will be published in April and made available online.

Barbara McLean, acting executive director of the Maryland Health Care Commission, said the state also is participating in a pilot project to develop a survey of patient satisfaction.

Phone firm with service here seeks huge expansion

Cavalier Telephone of Richmond, Va. has entered an agreement to acquire the telecommunications business of Net2000 Communications Inc., a Herndon, Va. company that filed for Chapter 11 bankruptcy protection. Terms were not disclosed.

If the bankruptcy court approves, the sale would nearly double the size of Cavalier, which entered the Baltimore market last summer. Cavalier would add Net2000's 130,000 lines to its existing 180,000 lines.

Last week, Cavalier closed on its purchase of the telecommunications business of Conectiv Communications Inc. of Wilmington, Del.

Elsewhere

Xerox gets $800 million from GE Capital

Xerox Corp., a money-losing company in four of the past five quarters, got $800 million in financing yesterday from General Electric Financing Corp. Xerox shares increased 11 percent.

GE Capital, General Electric Co.'s financing arm, will give $350 million backed by Xerox's Canadian receivables. GE capital's Canadian subsidiary will take over the No. 1 copier maker's equipment financing in Canada.

In a similar deal, Xerox will get $450 million in financing from GE Capital's European subsidiary. The financing will be backed by Xerox receivables in Britain.

Xerox already has turned over equipment financing in the United States to GE Capital, which also agreed to lend $1 billion to the U.S. unit, after Xerox's short-term borrowings were shunned by the debt market amid declining sales. Chief Executive Officer Anne Mulcahy said the company is still on track to return to profitability.

Boeing layoff notices held until after holiday

Another round of 60-day layoff notices for Boeing Co. workers will be distributed Monday and not the day before Thanksgiving as previously planned, company officials said yesterday.

A spokesman said yesterday that the company changed the date after realizing it could avoid giving people the bad news just before the holiday and still meet its schedule for completing the cuts by Jan. 25. He did not know the size of the cuts.

The aerospace giant plans to cut its commercial airplane work force by as much as 30 percent, or about 30,000 workers. In October, Boeing announced a first round of about 12,000 job cuts.

ChevronTexaco job cuts raised from 4,000 to 4,500

ChevronTexaco Corp., the No. 2 U.S. oil company, increased its job cuts to 4,500 yesterday as it strives to save $1.8 billion annually by March 2003.

The company, formed last month by Chevron Corp.'s $45.8 billion buyout of Texaco Inc., had planned to trim its work force by 4,000, or 7 percent, to 53,000. The company will employ about 52,500 after the reductions.

Chrysler joins GM, Ford in extending zero financing

All three U.S. automakers have now extended their no-interest finance offers until early next year.

Yesterday, the Chrysler arm of DaimlerChrysler AG followed General Motors Corp. and Ford Motor Co. in extending its no-interest financing for the second time. The DaimlerChrysler zero-percent financing will be good through Jan. 8. Ford's no-interest financing offer ends Jan. 14. GM's expires Jan. 2.

This column was compiled from reports by Sun staff writers, the Associated Press, Bloomberg News and Reuters.

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.