One of the largest providers of dredging services in the United States, Great Lakes Dredge & Dock Corporation (GLDD) yesterday reported financial results for the quarter ended September 30, 2021.
Key Findings
1. In the 1960s and 70s states and the federal government imposed Certificate of Need (CON) laws to limit the number of hospital beds.
2. The purpose of the restrictive laws was to try to use central planning to make health care more affordable.
3. By the early 1980s it was clear the idea didn’t work, and the federal government and many states repealed their CON laws.
4. In 2020 the onset of the COVID health crisis led states, including Alaska, to suspend their CON laws to make sure enough hospital beds were available to patients.
5. In 2021 Alaska Senate Bill 26 was introduced to make the suspension of the state’s CON law permanent.
04.05.2021 - First quarter net income of $8.8 million First quarter adjusted EBITDA of $26.8 million First quarter awards of $90.3 million resulting in 42% bid market share HOUSTON, May 04, 2021 (GLOBE NEWSWIRE) - Great Lakes Dredge & Dock Corporation .
The 2021 WWD Young Pros value industry advocacy & making their work visible.
Water & Wastes Digest annually highlights 10 inspirational people under the age for 40 who are leaders, drivers, influencers and advocates for the industry. The 2021 WWD Young Pros are no different, and nearly all of them shared a similar response to questions about their biggest lessons and how their generation would influence the industry.
First, the biggest lesson for many of the 2021 WWD Young Pros was reckoning with the current state of water infrastructure in the U.S. and how it is so disconnected from the people who use it day-to-day.
Second, many indicated their generation as one of advocates and communicators with the energy and will to push for political and systemic change. They want to help the industry become more visible to the general public to improve public discourse on the need for infrastructure funding while also showing how exciting the industry can be.
On March 30, 2020 Washington state officials suspended the CON for long term care facilities. This is only one of many individual CON laws that remain in Washington state. Without any CON requirements, the state also set up non-hospital facilities, such as Century Link Field Event Center, to handle any overflow from traditional hospitals during the COVID-19 pandemic. (here)
When a perceived need exists, elected officials are willing to exempt CON laws. This session, the Washington State Legislature has unanimously passed SB 5236 which extends the expiration date of certain CON exemptions for the construction of new psychiatric beds in the state. (here)