Here's something you might be interested in.
According to a detailed story in the San Jose Mercury News, Rural/Metro Corp., a privately-held ambulance operation serving San Diego County, is struggling to pay its bills. The Mercury News reports that Scottsdale-based Rural/Metro missed a crucial bond payment this week, and Santa Clara County officials are "scrambling to make sure backup plans are in place, should the situation deteriorate and a new provider is needed in a hurry," according to the Silicon Valley newspaper. The county's chief operating officer noted that Rural/Metro's debt has been downgraded to junk status.
Rural/Metro's California public affairs director emailed the newspaper, saying the company "continues to take action to align our operations and capital structure with the realities of our business." He said the board and management elected not to make the interest payment due on July 15 for unsecured bonds due in 2019.
According to a detailed story in the San Jose Mercury News, Rural/Metro Corp., a privately-held ambulance operation serving San Diego County, is struggling to pay its bills. The Mercury News reports that Scottsdale-based Rural/Metro missed a crucial bond payment this week, and Santa Clara County officials are "scrambling to make sure backup plans are in place, should the situation deteriorate and a new provider is needed in a hurry," according to the Silicon Valley newspaper. The county's chief operating officer noted that Rural/Metro's debt has been downgraded to junk status.
Rural/Metro's California public affairs director emailed the newspaper, saying the company "continues to take action to align our operations and capital structure with the realities of our business." He said the board and management elected not to make the interest payment due on July 15 for unsecured bonds due in 2019.
Even of what happened within a decade ago, "financial" has been replaced by 'steering' (as on the road) problems. And what happened years later, when I was in their district, for my first time of service need: their working confidence was not as solid as the others have.
viewer: I can't comment on the company's level of service without doing more homework. The Merc report on finances is quite detailed, however, and disquieting. Best, Don Bauder
Detroit-Upon-Pacific.
Twister: Hey, Vallejo, San Bernardino and Stockton beat Detroit to the BK bar. Best, Don Bauder