The Journal Gazette
Friday, January 17, 2020 1:00 am


Parkview certified for 2 care types

Staff, news services

Parkview Regional Medical Center has received Level III certification for both obstetric and neonatal care from the Indiana State Department of Health Maternal and Child Health Division, Parkview officials announced Thursday.

The designation recognizes the hospital for advanced care of complex maternal or fetal conditions along with management of low-risk obstetrical and newborn care.

The Indiana Perinatal Levels of Care program certifies all Indiana birth facilities for obstetric and neonatal care. Based on nationally recognized guidelines, Indiana's program includes four levels of care. Level III means a hospital is certified to care for low-risk and high-risk pregnancies and manage severe maternal and fetal complications.

Level IV-certified hospitals are capable of managing the most complex/critically ill patients.

Morgan Stanley profits rise 46%

Morgan Stanley's fourth-quarter profits jumped 46% from a year earlier, the company said Thursday, helped by a massive boost from the bank's trading desks.

The investment bank said it earned a profit of $2.24 billion, or $1.30 per share, compared with a profit of $1.53 billion, or 80 cents a share, in the same period a year earlier. The results handily beat analysts forecasts of 98 cents per share.

The financial markets during the last three months of 2019 were good for banks, and Morgan Stanley's results were no exception. The bank brought in $2.31 billion in trading revenues, a 33% jump from last year. Investment banking revenues were also 14% higher in the quarter.

Morgan Stanley is the smallest and last of the big six Wall Street banks to report this week, and its results are similar to what its bigger rivals JPMorgan Chase, Goldman Sachs and Citigroup reported. All saw big boosts from trading in the quarter, but had issues with lower interest rates.

Payless back from 2nd bankruptcy

Payless ShoeSource has emerged from bankruptcy for the second time, with a focus on international markets.

The Topeka, Kansas, company said Thursday it wants to reinvigorate its largest business unit, Latin America.

It will also relaunch its U.S. e-commerce site and open some stores in the U.S. but did not offer specific details.

Payless filed for Chapter 11 bankruptcy protection in February 2019 and shuttered the remaining 2,000-plus stores in North America.

The latest bankruptcy filing didn't affect its 710 franchises or stores in Latin America, Southeast Asia and the Middle East. 

Gap abandons plan to spin off Old Navy

Gap Inc. says it no longer intends to spin off Old Navy as a separate entity. The company said Thursday that its board scuttled the move after determining it would be too costly and complex, especially given the retailer's recent struggles.

The company announced in February 2019 that it planned to split into two publicly traded companies, one for its low-cost Old Navy brand and another for the Gap, Banana Republic and its lesser known brands like Athleta, Intermix and Hill City.

Like many mall-based clothing chains, San Francisco-based Gap Inc. is seeking ways to turn its business around. Its stock was up about 7% in after-hours trading Thursday.

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