Office of the Mayor announces:

HHI, with input from Holdco, decided that since negotiations have been very productive, they would prefer to defer the hearing to discuss the sales agreement until October 4th in a final effort to establish full support for the sale of HUMC. This delay means that a final closing may be pushed back until October 17th.  While it will be a financial challenge, we are confident that the hospital will be able to make it to the finish line. Once we get to the end of this process, there are encouraging signs that virtually every current employee at HUMC will be there with us. We have just found out that 99 percent of current employees, and more than 90 percent of current union employees at the facility, have already accepted positions with the new buyer. Here are the data:

Holdco offered positions to 1,127 current HUMC employees

Holdco received accepted offers from 1,124 current HUMC employees (99.7%)

Holdco received non-acceptance of offers from 2 current HUMC employees

324 JNESO members at HUMC

314 JNESO members applied for positions at Holdco

285 JNESO members were offered positions at Holdco (91%)

435 1199J members at HUMC

432 1199J members applied for positions at Holdco

400 1199J members were offered positions at Holdco (93%)

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If there was any question what’s the hold up in the creditors committee settlement, the hospital nurse’s union JNESO just cleared up the matter for everyone.  To this point the unions denied they were the logjam but one is going public, and solo to complain about monies owed – outside of the thousands of others owed roughly $34 million on the creditors committee.

According to their announcement touted in a NJ.com story, the bankruptcy hearing has been postponed until October 4th.  The original story states: Read More...

Here’s the latest update on the hospital sale and yes, it’s progressing.  The hearing in Newark scheduled for today has been moved to Wednesday.  A bankruptcy judge is expected to hear the case with the creditors committee and an anticipated recommendation from its members.

While there’s haggling on a settlement, sources close to the discussion maintain a high degree of confidence in reaching an agreement.

A settlement with the creditors committee paves the way for the sale to Bayonne’s Holdco, keeping an acute care hospital in Hoboken seven years out. Read More...

During the long closed session at City Council’s meeting last week, Michele Russo mother of 3rd ward Councilman Mike Russo remarked outside City Hall on her recent attempts to gain a taxpayer paid job saying,  “I didn’t get that job,” referring to a BoE position in Union City.

With a long closed session, a group of people sat at the top of the stairs and Michele Russo held court.  Directing her remarks to the group of around a dozen people, Russo noted “blogs” saying she was getting a Hudson County job but neither the Union City BoE position nor an earlier managerial housekeeping position had come through. Read More...

Earlier this afternoon, Mayor Zimmer stated negotiations between the creditor’s committee and Holdco are continuing saying she is optimistic it will lead to a positive outcome.

In a conference call from City Hall, the mayor outlined the latest developments saying the creditors committee presented altered “final” terms to Holdco.  She said they were slightly different than ones previously discussed adding “negotiations are moving in the right direction.”

The mayor described the negotiations as “sensitive” and concluded “they are going well” and she expects the outcome will lead to a sale of Hoboken University Medical Center to Holdco. Read More...