SDSU's Indoor Facility - Sanford in for $10mm

[abc123]

The question is if they have to refinance their debt and pay for expansion where are they getting the money to pay und with? Why haven't they ponied up to und then? Without a doubt they're using the bond issue. As far as Sanford goes - Denny is a Billionaire. No?

Altru doesn't have to refinance their existing debt, but why wouldn't they take advantage of lower rates when they would be issuing more bonds anyway? Your logic continues to baffle me. Because Altru has debt (like almost every other company/non-profit/individual in the world, including Sanford Health), they shouldn't give donations? And since they are expanding and don't keep the amounts of cash on hand, which I'm not sure how they would do anyway as they would have a tough time building up those reserves due to their non-profit status, they need in turn need to borrow money to make donations? Sanford Health has done a large amount of bond financing in the past and carries quite a bit of debt on their books, but they continue to give donations. I would be quite surprised if they didn't issue bonds for their new project in Fargo as well. As roadwarrior said, these donations are paid over time. These things are written in to budgets and cash flow projections. The logic you use to unequivocally say that Altru needs to issue new bonds in order to give a donation to UND is quite a lesson in 1+1=3.

As for Denny's Net Worth, I don't believe he has been on the billionaire list for a few years, so not sure where he falls right now. Safe to say he is still probably sitting just fine.

Also, on topic: Looks like a great project for SDSU, congrats!

[Bison Dan]

Altru doesn't have to refinance their existing debt, but why wouldn't they take advantage of lower rates when they would be issuing more bonds anyway? Your logic continues to baffle me. Because Altru has debt (like almost every other company/non-profit/individual in the world, including Sanford Health), they shouldn't give donations? And since they are expanding and don't keep the amounts of cash on hand, which I'm not sure how they would do anyway as they would have a tough time building up those reserves due to their non-profit status, they need in turn need to borrow money to make donations? Sanford Health has done a large amount of bond financing in the past and carries quite a bit of debt on their books, but they continue to give donations. I would be quite surprised if they didn't issue bonds for their new project in Fargo as well. As roadwarrior said, these donations are paid over time. These things are written in to budgets and cash flow projections. The logic you use to unequivocally say that Altru needs to issue new bonds in order to give a donation to UND is quite a lesson in 1+1=3.

As for Denny's Net Worth, I don't believe he has been on the billionaire list for a few years, so not sure where he falls right now. Safe to say he is still probably sitting just fine.

Also, on topic: Looks like a great project for SDSU, congrats!

Yes it's great to refinance your debt to save money but Altru has had money problems in the past. Okay we'll see if the bond issue corresponds to the donation. Time will tell.

[abc123]

Yes it's great to refinance your debt to save money but Altru has had money problems in the past. Okay we'll see if the bond issue corresponds to the donation. Time will tell.

Per their Q2 - 2012 report, they seem to be looking fine. Not sure how you will determine the bond issue corresponding to a donation though? I'm assuming that if they happen within the same time frame, that is good enough evidence for you that they are clearly correlated despite what a balance sheet, statement of operations or cash flow statement would tell you.

[aces1180]

Per their Q2 - 2012 report, they seem to be looking fine. Not sure how you will determine the bond issue corresponding to a donation though? I'm assuming that if they happen within the same time frame, that is good enough evidence for you that they are clearly correlated despite what a balance sheet, statement of operations or cash flow statement would tell you.

Do you post at SS.com? If so, what is your username?

[BisoninNWMN]

Pretty funny from a guy hailing from a smaller school which is having less success growing. Think about this: where are all SD football playoffs held now? Where do you think some will be held three years from now?

Is the light coming on yet?

I don't see Vermillion hosting a D1 FB playoff game this year or next or the next.......they"ll be winless in the conference this year....

[1998braves64]

Its t dennys money not sanford right didn't he want to die broke like myself?
Maybe sdsu should use this money for urinals or ndsu fan bleachers Brookings sucks

Maybe... he donated $400 million to the hospital 5 or so years ago (when it became known as Sanford). But I don't believe he really holds any seat in the actual organization or continues to fund it (other than a donation here and there?) He says he wants to die broke, not sure if that will happen.

Forgot to read the 2nd page. Denny is no longer a billionaire after all his high dollar donations. At least he's not on the Forbes list anyway.

[The_Sicatoka]

Do you post at SS.com? If so, what is your username?

If you're so interested, as a sign of good faith, you go first.

[The_Sicatoka]

I guess I have a problem with a health care system that accumulates cash from presumably sick people* just to redistribute it as they see fit (instead of leaving it with the sick people). So, like I said, if it's T. Denny's cash, fine. But hospitals doing more than advertising (meaning accumulating dollars to dole out favors, with other peoples's money), no matter the hospital, does irk me.


*Yes, I know a significant portion of the monies come from insurance, Medicare, and Medicaid, but does that really make it any better? Like someone said, government involvement makes thing go to crap ... and that makes me sick.

[zooropa]

I guess I have a problem with a health care system that accumulates cash from presumably sick people* just to redistribute it as they see fit (instead of leaving it with the sick people). So, like I said, if it's T. Denny's cash, fine. But hospitals doing more than advertising (meaning accumulating dollars to dole out favors, with other peoples's money), no matter the hospital, does irk me.


*Yes, I know a significant portion of the monies come from insurance, Medicare, and Medicaid, but does that really make it any better? Like someone said, government involvement makes thing go to crap ... and that makes me sick.

- Avera (the other, Catholic sponsored, health system in Sioux Falls) donated $15M toward SDSU research facilities. Where does this fit in your 'what health systems do with revenue in excess of cost' scheme?

- It could be argued that a significant portion of the $10M represents advertising, and that the deal--similar to NDSU's--comes with a kickback in that SDSU guarantees Sanford sports medicine business. Though hopefully not at the rack rate that it imposes on the uninsured in order to offer 'huge' discounts to the government for Medicare/Medicaid scheduled reimbursements.

This is an instance of either the least efficient industry in the U.S. donating money to the second least efficient or the other way around.

[HerdBot]

I guess I have a problem with a health care system that accumulates cash from presumably sick people* just to redistribute it as they see fit (instead of leaving it with the sick people). So, like I said, if it's T. Denny's cash, fine. But hospitals doing more than advertising (meaning accumulating dollars to dole out favors, with other peoples's money), no matter the hospital, does irk me.


*Yes, I know a significant portion of the monies come from insurance, Medicare, and Medicaid, but does that really make it any better? Like someone said, government involvement makes thing go to crap ... and that makes me sick.

Why do you have an issue with how a company spends their profits? Are they supposed to give their profits back to the people who paid their bills? Sounds like anti capitalism to me. Many businesses profit off of people's misery. Look at funeral homes and dentists. How about companion that cause misery? Its business . With all the corporate greed in the world today its nice to see a company give back to several markets. Would you prefer more CEO bonuses?