Assisted Living Concepts (NYSE:ALC) reported net income of $4.1 million dollars in the first quarter of 2008. The most interesting part of the press release is the quote from the President and CEO of ALC, Laurie Bebo. “Despite lower same store overall occupancy, we improved revenues and adjusted EBITDA through strategic acquisitions and cost reductions […]
Category: Communities
A new continuing care retirement community (CCRC) is opening its doors on the beautiful island of Oahu, Hawaii. The first phase of the project,scheduled to begin construction in summer 2008, will include 26 garden homes and 96 apartments in a six story building. The project proposes to include independent living, assisted living, memory support, and […]
Are we sending mixed messages to the senior community about retirement? For the last 50 years the word retirement has broadly meant “a place of privacy and seclusion and withdrawal from an occupation”. This definition fits the institutional images of nursing homes and severe types of assisted living….do the images of institutional care really sell […]
The front page headline of today’s Wall Street Journal proclaims “American’s Delay Retirement As Housing, Stock Swoon“. Senior’s largest net asset as a percentage of net wealth has traditionally and statistically been dominated by home equity. The article profiles one couple’s struggle to sell their $250,000 home after many months and this is after a […]
The Longwood at Oakmont, an independent retirement community in the Pittsburgh, PA area, has recently begun construction on the fourth phase of its $70 million dollar expansion project. The next phase called the Grandview at Longwood is a 89-unit apartment building that has been registered to be LEED certified when completed. The project should be […]
Last week, the Social Security Administration presented its report on Social Security and Medicare in the United States. The annual report painted a similar picture of demise and didn’t show any major improvements or worsening in the entitlement realities over the next 30 years from last year’s report. 2008 is an important year for the […]
Sunrise Senior Living finally filed its 2006 annual report that restated earning from $80 million dollars to approximately $20 million. With the filing, Sunrise avoided having its common stock listing suspended by the New York Stock Exchange. The restatement of earnings dates back to 1996 corrects aggressive accounting practices with respect to its reimbursable contract […]
Did you see the movie “Field of Dreams” with Kevin Kostner? If not you can either read the IMBD entry or understand that a crazy farmer in Iowa with a voice in his head builds a baseball field and baseball players magically begin to show up to practice and play ball on the field. Every […]
Remember the days of getting wait listed to attend the university that you were dying to get into? Flash forward 60 years into your future and you’ll come to realize that you’re back on the waiting list…except this time it’s for Senior Housing. With waiting times growing longer for affordable, independent living and assisted living […]
The United States Department of Labor is showing two home health care positions as being some of the fast growing occupations in their 2008 hand book. Personal and home care aides (increased 50.6%) and Home health aides (increased 48.7%) were ranked as 2 and 3 in the list of 30 fastest growing occupations. 1. People […]
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