It is bitterly ironic that during this season when our newspapers and televisions are filled with touching stories of children with a variety of serious chronic illnesses -- such as cystic fibrosis, diabetes, cancer, autism and sickle cell anemia -- the policies that shape our public commitment to these children have never been at greater risk.
Children with a chronic illness require two things: comprehensive health insurance and access to specialty care. The good news is that a number of counties, led by efforts in Santa Clara County, have implemented programs to provide basic health coverage for all children. The bad news is that the development of county-by-county programs is creating a highly inefficient patchwork quilt of programs with differing eligibility and benefit rules. Moreover, this haphazard approach leaves the long-term funding base for many of these programs unclear.
The second requirement, access to specialty medical care, is the essential component at greater risk. During the 1960s and 1970s, California created regional networks of community providers and specialty hospitals to facilitate referrals and immediate hospitalization for children with complex or critical cases. Coordinated by California Children's Services, a state agency, these networks have had a dramatic impact, resulting in great improvements in children's survival and quality of life. The system is one of the real triumphs of modern child health care.
This success, however, is currently being undermined by a remarkable indifference to the needs of seriously ill children as federal and state governments seek to cut health care spending. In Washington, the recently passed House budget covered the costs associated with Hurricane Katrina by slashing Medicaid funding for the poor and disabled. Beyond its breathtaking cynicism, this step will ultimately hurt our state's ability to address the needs of poor children with serious illness.
At the state level, a variety of proposals are swirling in Sacramento to dramatically alter or abolish our current systems for caring for seriously ill children. Although some are well-intended and seek to make much-needed improvements, most are concerned with cutting costs and are wildly uninformed. A major problem with much of this discussion is that children are being thrown into policy changes that are primarily directed at adults. This is understandable in some measure because the vast bulk of expenditures are generated by adults.
But children are not just small adults. Their patterns of health problems are very different and they are far more vulnerable to even slight interruptions in access to specialty care. This is because serious, urgent illnesses in children are relatively rare. While most health care facilities have the capacity to handle most serious adult cases such as heart attacks and diabetes, they commonly lack experience in dealing with seriously ill children, such as a 6-year-old who has sickle cell anemia with acute chest syndrome, a relatively rare but urgent, life-threatening condition in a child.
The regional referral systems have been set up precisely to address this kind of situation. However, these networks are based on a fragile set of financial structures, and great care will be needed to ensure that revised policies strengthen rather than undermine them.
The issue is not really one of cost. Public expenditures on children's health are minuscule when compared to those spent on adults. Indeed, this is one of the main reasons that children's health issues are being overshadowed by a focus on adult care. The current approach seems to be to worry about the elements of the adult policies now and deal with the child-focused details sometime in the future. The problem is that children with severe disorders live and die in the details.
A recent survey from the Lucile Packard Foundation for Children's Health (``What Bay Area Parents Worry About Most,'' San Jose Mercury News, Oct. 27) pointed up some of the many financial and emotional pressures faced by parents of children with chronic illnesses (see accompanying box). Today, there is a striking opportunity for the governor and the Legislature to provide statewide leadership in support of those families.
First, there can be no excuse for not working with the counties in creating a strong and stable program to insure all children in California. The counties already have done the heavy lifting on this issue; it is time for the state to act. Second, the incoherence in the public debate over the best ways to reform programs for children with chronic illnesses must end.
Our elected leaders must ensure that the enormous capacities and commitment of state health agencies are more purposefully linked to the real-world insights of parents with seriously ill children and health providers who have long cared for these children.
Such a process will best ensure that necessary reforms and cost reductions are constructive and that the quality and coordination of care actually improve.
However, without such a process -- one that respects the special requirements of children -- the successes of the past will be left unprotected, the real opportunities for constructive change will go untouched and, ultimately, our hearts and private charity will be increasingly uncoupled from our collective commitment to health policies that are both effective and just.
Parenting children
with chronic illnesses
Parents of children with chronic illness, compared to parents of children without chronic illness, are:Three times as likely to report that their family income is not enough to provide for their child's basic needs.
Twice as likely to report that their child's level of stress is ``high'' or ``very high''.
Four times as likely to be ``very concerned'' that their child may be depressed.
Source: Survey of Bay Area parent opinion conducted by the Survey and Policy Research Institute at San Jose State University for the Lucile Packard Foundation for Children's Health, October 2005.
www.mercurynews.com
Thursday, December 22, 2005
Pyeongtaek to Get International Business Town
A new international business town will be built on 17.82 million sq. m in Pyeongtaek in Gyeonggi Province, the new home of the U.S. Forces Korea. Apartments and houses for 64,000 households will be built starting in 2009.
The Ministry of Construction and Transportation on Thursday unveiled its development plan for the land in Pyeongtaek¡¯s Mogok-dong and Godeok-myeon. Besides housing, the ministry will build an international business center and administrative complex as well as international schools needed for the children of U.S. personnel.
The Ministry of Government Administration and Home Affairs on Dec. 5 unveiled a plan to invest W18 trillion (US$18 billion) in Pyeongtaek by 2020 to develop it into a regional hub on the back of the USFK relocation.
www.english.chosun.com
The Ministry of Construction and Transportation on Thursday unveiled its development plan for the land in Pyeongtaek¡¯s Mogok-dong and Godeok-myeon. Besides housing, the ministry will build an international business center and administrative complex as well as international schools needed for the children of U.S. personnel.
The Ministry of Government Administration and Home Affairs on Dec. 5 unveiled a plan to invest W18 trillion (US$18 billion) in Pyeongtaek by 2020 to develop it into a regional hub on the back of the USFK relocation.
www.english.chosun.com
(BW) NewMarket Technology Inc. Releases Webcast of Shareholder Town Hall
NewMarket Technology Inc. (OTCBB:NMKT) today released a webcast of the Company's Shareholder Town Hall Meeting held last Thursday, December 15th.
The following is a statement from Philip Verges, the CEO and Chairman of NewMarket Technology, encouraging shareholders, investors, and entrepreneurs to view the webcast.
"NewMarket's revenue has grown on average by 40% per quarter over the last two years. At the same time, profit has increased at a normalized rate of 400%. Shareholder equity has also increased by 400% over the last two years.
NewMarket has grown from $2.3 million in revenue in 2003 to $41 million in revenue for the trailing twelve months. The Over the Counter market has been instrumental in facilitating this growth.
Nevertheless, while the Company has been growing exponentially in the last two years, NewMarket's average share price has declined 47%. The webcast explains in detail how a company can grow, while the share price declines. Through NewMarket's own experience, the webcast outlines for all entrepreneurs how to finance a development stage company in the Over the Counter market environment. Demonstrating the overall trading dynamics of the Over the Counter Bulletin Board (OTCBB) Exchange and NewMarket's own historical trading dynamics, the webcast is helpful to OTCBB investors on how to realize healthy investment returns in development stage companies.
The primary message in the webcast is directed to our valued long-term NewMarket shareholders. The Company's intrinsic and enterprise value has grown in the last two years and that value is continuing to build upon the foundation forged during this time. However, the healthy revenue and bottom line growth fundamentals are locked inside an undervalued share price. Companies listed on national exchanges with similar services and similar revenues, but with less profit, are consistently trading at much higher Price to Sales ratios. The challenge for NewMarket is to unlock that value in the market.
Developing companies are less predictable than later stage companies. As the CEO, I have made mistakes in forecasting and prematurely setting high expectations for the future results of our early development stage operations. Even though NewMarket's overall operations have grown exponentially, my highly communicative program to inform shareholders have dampened shareholder's spirits as timelines were extended and some goals were not met (at least not yet).
Some part of the two year average share price decrease has been in reaction to shareholder's concerns from my premature communications regarding less than predictable developing aspects of NewMarket's business. Part of the decrease is due to the nature of the OTCBB market as the average traded share price for all companies listed on the entire OTCBB has decreased 50% over the last two years from $0.19 to $0.09.
The good news is that NewMarket's business value is growing as measured by shareholder's equity, as well as balance sheet, revenue and profitability growth. Now we have to get past the less than stellar communications and get off the OTCBB, so that we can meet the ultimate goal of every public company -- building shareholder value. Although, NewMarket's operations today are far more predictable than in the past, I have graduated from the school of hard knocks regarding overconfident and premature communications.
I encourage shareholders, public market investors and all entrepreneurs to view the webcast on our corporate website at www.newmarkettechnology.com. NewMarket is a case study for investors interested in the Over the Counter market, as well as being a case study for entrepreneurs trying to finance early development stage companies. Most importantly, long-term shareholders should be assured that we at NewMarket are committed to providing an impressive investment return going forward."
About NewMarket Technology Inc. (www.newmarkettechnology.com)
NewMarket Technology Inc. is a Systems Innovation Company. NewMarket has combined a traditional systems integration and support services capacity with a specialized asset-based approach to assisting its clients with the delicate balance between maintaining legacy systems and gaining a competitive edge from the latest technology innovations.
NewMarket provides certified integration and maintenance services to support the prevailing industry standard solutions to include Microsoft (NASDAQ:MSFT), Cisco Systems (Nasdaq:CSCO) and Sun Microsystems (Nasdaq:SUNW). Concurrently, NewMarket continuously seeks to acquire undiscovered emerging technology assets to incorporate into an overall product portfolio carefully packaged to complement the prevailing industry standard solutions. NewMarket's emerging technology portfolio includes products for the Telecommunications, Healthcare, Homeland Security and Financial Services industries.
NewMarket delivers its portfolio of products and services through its global network of Solution Integration subsidiaries in North America, Latin America, China and Singapore. As a Systems Innovator, NewMarket has set itself apart from the systems integration market through the introduction of a technology business model that monetizes the value of emerging technologies to improve corporate profits and enhance shareholder value with the regular issue of dividends.
NewMarket recently announced that it ranked Number 13 on the 2005 Deloitte Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America. Rankings are based on the percentage of revenue growth over five years from 2000-2004. NewMarket's revenue increased 18,082 percent during this period.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
www.chron.com
The following is a statement from Philip Verges, the CEO and Chairman of NewMarket Technology, encouraging shareholders, investors, and entrepreneurs to view the webcast.
"NewMarket's revenue has grown on average by 40% per quarter over the last two years. At the same time, profit has increased at a normalized rate of 400%. Shareholder equity has also increased by 400% over the last two years.
NewMarket has grown from $2.3 million in revenue in 2003 to $41 million in revenue for the trailing twelve months. The Over the Counter market has been instrumental in facilitating this growth.
Nevertheless, while the Company has been growing exponentially in the last two years, NewMarket's average share price has declined 47%. The webcast explains in detail how a company can grow, while the share price declines. Through NewMarket's own experience, the webcast outlines for all entrepreneurs how to finance a development stage company in the Over the Counter market environment. Demonstrating the overall trading dynamics of the Over the Counter Bulletin Board (OTCBB) Exchange and NewMarket's own historical trading dynamics, the webcast is helpful to OTCBB investors on how to realize healthy investment returns in development stage companies.
The primary message in the webcast is directed to our valued long-term NewMarket shareholders. The Company's intrinsic and enterprise value has grown in the last two years and that value is continuing to build upon the foundation forged during this time. However, the healthy revenue and bottom line growth fundamentals are locked inside an undervalued share price. Companies listed on national exchanges with similar services and similar revenues, but with less profit, are consistently trading at much higher Price to Sales ratios. The challenge for NewMarket is to unlock that value in the market.
Developing companies are less predictable than later stage companies. As the CEO, I have made mistakes in forecasting and prematurely setting high expectations for the future results of our early development stage operations. Even though NewMarket's overall operations have grown exponentially, my highly communicative program to inform shareholders have dampened shareholder's spirits as timelines were extended and some goals were not met (at least not yet).
Some part of the two year average share price decrease has been in reaction to shareholder's concerns from my premature communications regarding less than predictable developing aspects of NewMarket's business. Part of the decrease is due to the nature of the OTCBB market as the average traded share price for all companies listed on the entire OTCBB has decreased 50% over the last two years from $0.19 to $0.09.
The good news is that NewMarket's business value is growing as measured by shareholder's equity, as well as balance sheet, revenue and profitability growth. Now we have to get past the less than stellar communications and get off the OTCBB, so that we can meet the ultimate goal of every public company -- building shareholder value. Although, NewMarket's operations today are far more predictable than in the past, I have graduated from the school of hard knocks regarding overconfident and premature communications.
I encourage shareholders, public market investors and all entrepreneurs to view the webcast on our corporate website at www.newmarkettechnology.com. NewMarket is a case study for investors interested in the Over the Counter market, as well as being a case study for entrepreneurs trying to finance early development stage companies. Most importantly, long-term shareholders should be assured that we at NewMarket are committed to providing an impressive investment return going forward."
About NewMarket Technology Inc. (www.newmarkettechnology.com)
NewMarket Technology Inc. is a Systems Innovation Company. NewMarket has combined a traditional systems integration and support services capacity with a specialized asset-based approach to assisting its clients with the delicate balance between maintaining legacy systems and gaining a competitive edge from the latest technology innovations.
NewMarket provides certified integration and maintenance services to support the prevailing industry standard solutions to include Microsoft (NASDAQ:MSFT), Cisco Systems (Nasdaq:CSCO) and Sun Microsystems (Nasdaq:SUNW). Concurrently, NewMarket continuously seeks to acquire undiscovered emerging technology assets to incorporate into an overall product portfolio carefully packaged to complement the prevailing industry standard solutions. NewMarket's emerging technology portfolio includes products for the Telecommunications, Healthcare, Homeland Security and Financial Services industries.
NewMarket delivers its portfolio of products and services through its global network of Solution Integration subsidiaries in North America, Latin America, China and Singapore. As a Systems Innovator, NewMarket has set itself apart from the systems integration market through the introduction of a technology business model that monetizes the value of emerging technologies to improve corporate profits and enhance shareholder value with the regular issue of dividends.
NewMarket recently announced that it ranked Number 13 on the 2005 Deloitte Technology Fast 500, a ranking of the 500 fastest growing technology companies in North America. Rankings are based on the percentage of revenue growth over five years from 2000-2004. NewMarket's revenue increased 18,082 percent during this period.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
www.chron.com
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