Latest news with #Sikora
Dominion Post
12-06-2025
- Business
- Dominion Post
Mon Commission grappling with soaring insurance costs
MORGANTOWN — 'This is just not sustainable.' Monongalia County Commissioner Tom Bloom lamented that the annual increases in the cost of group employee health insurance is on a trajectory that will consume an untenable percentage of the county's overall budget in the near future without intervention. On Wednesday, the commission approved a proposal from Highmark Blue Cross/Blue Shield that comes with a 20.48% cost increase to the county when it takes effect Aug. 1. All told, the percentage increase absorbed by the county will total just over $1 million. Commissioner Sean Sikora explained that the final agreed-upon number was actually negotiated down significantly from Highmark's opening offer, which would have kept everything unchanged from the current plan — except the cost, which would have jumped 34.8%. In order to bring the percentage down, the commission agreed to raise employee deductibles from $6,000 single/$12,000 family to $7,000/$14,000. That disclosure was followed by a commitment from the commission to cover all employee deductibles at a potential maximum cost of $900,000. There will be a change on the employee end. Co-insurance — the percentage of a medical bill the patient pays after meeting the deductible — will increase from 10% to 20%. 'Really, that's the only negative impact to the employees,' Sikora said. 'There's two positive impacts. One, they're not getting a premium increase when there is one — a significant one. Two, they're not having to pay any deductible, which previously they had to pay $750 or $1,500.' Sikora explained that the county, like many other public and private entities, is facing what's known as the 'group plan dilemma' in which costs rise higher and higher while the level of satisfaction – either from employees, employers or both – falls. Embedded within the group plan concept is the inevitability that a small number of individuals will push costs up for everyone. It was explained that the offer Highmark first presented to the county was predicated on the fact that the company paid out 23% more than it collected in premiums in the current cycle. 'The problem we're dealing with is our experience in claims is what's driving our cost. There's nothing we can do about that. It's really just what they call in the industry the 'group dilemma.' Having these group plans, if we put it out to bid or we ask for a new proposal, we're paying for our experience. All that information is known and all that information is out there. We have a small portion of our participants that account for nearly 50% or 60% of all our claims, and those aren't going away.' While the commission opted to move forward with the Blue Cross/Blue Shield proposal, the insurance discussion isn't over. The body recently heard a pitch regarding ICHRA, or Individual Coverage Health Reimbursement Arrangement, through which employees would work with a consultant to select their own health plan options from various insurance carriers and the commission would reimburse employees tax-free for premium costs up to a defined amount. As it stands, the commission is looking at an overall insurance spend of approximately $6 million in a $43.6 million budget. That's up from about $4.9 million. Based on recent history, there's no indication the county won't be back in this position a year from now. 'And that's just not realistic. That's not acceptable. We have to look at other options,' Bloom said.
Yahoo
01-06-2025
- Entertainment
- Yahoo
Ex-security guard on being scolded by Michael Jordan for letting beautiful girls near: "He told me that I was being terrible at my job"
During his tenure as an event security personnel, Joseph Sikora was responsible for ensuring the safety of various famous celebrities. His role extended beyond just protection, as he was also responsible for creating a pleasant and enjoyable experience for these high-profile individuals at every event. To achieve this, Sikora faced the challenge of managing enthusiastic fans, keeping them at bay to prevent any potential disturbances or harm to the celebrities. Although he had received training for such responsibilities, Sikora candidly acknowledged his shortcomings when he was assigned to escort the legendary Michael Jordan. In a revealing moment, Sikora recounted that his focus on safety wavered when a group of attractive women approached him, asking if they could get closer to MJ. Caught up in the excitement of the situation, he let his guard down. However, Jordan, unfazed by the women's presence and looks, promptly called Sikora out for neglecting his duties. "I was working security at a club in Chicago called Le Passage and they assigned me to personal like to some of the celebrities that would come, just make sure that you know nobody messes with Bill Murray you know, and all these [celebrities]," Joseph revealed on "The Angie Martinez Show" in 2022. "But then Michael Jordan was there and like, you know, there'd be like these beautiful girls, [like] 'Oh, can I say hey to Michael?' and I am like, 'Yeah,' and he's like, 'What are you doing? You're supposed to be like, nobody comes [to me],' like, 'I am just trying to chill,' and he told me that I was, you know, being terrible at my job, but he was right," he added. Unlike other NBA legends known for their public flings, Jordan has always taken a different approach to dating and relationships. While some might perceive this as unusual for a famous athlete, his perspective is rooted in his past experiences that have shaped his views on the matter. In the past, Mike had a girlfriend whom he deeply cared for. However, over time, the Chicago Bulls superstar realized that her intentions were not genuine — she was only after his wealth and fame. "It got tired in five, six days," Jordan told GQ Magazine's David Breskin. "I could see it. Right now," he says, "I don't trust no one except my mother." The experience left a bad taste in Michael's mouth. It also likely influenced his decision to keep his romantic life private, steering clear of the limelight that often accompanies celebrity relationships. As it stands, Jordan has completely embraced a new chapter in his life, leaving behind any remnants of his past relationships. Currently, he seems to be thriving alongside his wife, Yvette Prieto. The couple married in 2013 and have shared a joyful and fulfilling life together since then.
CNBC
06-05-2025
- Business
- CNBC
Industrial name with AI ties makes a key move to boost its growing data center business
Dover , an American industrial company founded more than 70 years ago, is strengthening its foothold in a fast-growing market shaping the future of computing. The news Illinois-based Dover on Monday announced an agreement to pay more than $622 million in cash to acquire Sikora — a German firm whose technology supports the build-out of data centers. The deal, expected to close in the second quarter, gives Club name Dover a business that has experienced a double-digit organic growth rate over the last three years. Essentially, Sikora makes specialized systems that measure different parameters in the cables that go into energy-intensive data centers, which have become increasingly important as more companies adopt artificial intelligence and need ever-increasing computing power to run these heavy workloads. Sikora will soon become a part of Dover's pumps and process solutions segment, which includes Dover's thermal connectors for the liquid cooling of data centers. Big picture The announcement follows promising signs about continued data center spending. Eaton , a maker of power management solutions for AI data centers, posted a solid quarter on Friday. During the post-earnings conference call, incoming CEO Paulo Ruiz held Eaton's growth rate steady for its data center business despite macroeconomic uncertainty from President Donald Trump 's tariffs. Ruiz referred to the big tech companies that reported earnings in late April, which included portfolio names Meta Platforms , Amazon , and Microsoft, saying, "all the calls we have had this week, all the hyperscalers have confirmed the level of [capital expenditures]. So, we believe that this 15% [compound annual growth rate] for data centers is still intact." The data center market accounts for 17% of Eaton's overall revenue, which was $6.38 billion in the first quarter. Before that, Dover also had upbeat things to say about its data center exposed business when it reported first-quarter earnings last month. Management forecasted that 20% of Dover's portfolio will grow double digits in aggregate for 2025, in part, citing "strong demand" for its liquid cooling applications in AI data centers. Dover's Q1 revenue totaled $1.87 billion. Unlike Eaton, Dover does not break out its sales based on end market. Bottom line The Sikora deal is a small one for Dover, which has a $23.48 billion market capitalization, but we're happy to see it. "It's not a sexy or fancy business, but that's what Dover is. It's a collection of these niche businesses that are driving better margins and growth," Jeff Marks, the Investing Club's director of portfolio analysis, said Tuesday. "That's what they look to acquire." Sikora did nearly $114 million in sales last year. Even after the Sikora purchase, Dover will still have plenty of cash, which Jeff and Jim Cramer touted as a reason to favor Dover. Case in point: Dover ended Q1 with $2.8 billion of liquid assets — over 50% of that was excess cash. The Club sees two options: "They still have a lot of dry power and excess cash available to either look for more deal-making or maybe we see a step up in the buyback," said Jeff. DOV YTD mountain Dover YTD We continue to own this stock because of its industrial turnaround story with exposure to key mega trends. Not only the data center buildout to support AI computing, but also electrification more broadly. Dover's business in the biopharma industry is also another attractive area. We last added to our Dover position on April 9 at around $150 per share in an extremely oversold market. it was a discipline buy. The trade was shortly before President Trump froze "reciprocal" tariffs at 10% on U.S. trading partners, excluding China. On that news, the overall market surged higher, and Dover jumped 9.7% to roughly $166 apiece that day. Shares of Dover slipped Tuesday but still traded above $171 each. For the Club, we have Dover stock at a buy-equivalent 1 rating and a $210 per share price target. (Jim Cramer's Charitable Trust is long DOV, ETN, META, MSFT, AMZN. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. Dover Corp.'s Steam-Thru SIP connectors in use in a biopharmaceutical setting. Dover , an American industrial company founded more than 70 years ago, is strengthening its foothold in a fast-growing market shaping the future of computing.
CNBC
06-05-2025
- Business
- CNBC
2 things driving Tuesday's stock market drop, a day before the Fed's rate decision
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Tuesday's key moments. 1. The stock market is lower on Tuesday after breaking a nine-session win streak on Monday. While no major economic news is in play, multiple companies, including Ford , Marriott , Mattel , and Clorox , either pulled or lowered guidance due to tariffs and macro uncertainties. Palantir 's stock is getting hammered despite a better-than-expected quarter. The S & P Short Range Oscillator exited Monday's session still in very overbought territory. 2. The Federal Reserve began its two-day May meeting on Tuesday. According to The Wall Street Journal , President Donald Trump 's tariff policies have put the central bank in flux on whether to hold steady rates and keep fighting inflation or lower rates to address weakened economic growth. Fed Chairman Jerome Powell said in March that he's inclined to hold rates steady. Trump has been pushing Powell to cut rates. The market is leaning toward three rate cuts this year, according to the latest reading of the CME FedWatch tool. 3. Dover has agreed to acquire German-based Sikora in an all-cash deal of 550 million euros. It's expected to close in the second quarter. Sikora, a leading provider of precision measurement and control solutions, will become part of Dover's pumps and process solutions segment, which includes products for data centers. Dover shares a modestly lower in the weaker market. Meanwhile, shares of Coterra fell 8% despite decent earnings. Investors selling the stock might be hung up on some operational issues in part of the company's Texas acreage. Check your afternoon texts and emails for our full commentaries on both stocks. (Jim Cramer's Charitable Trust is long DOV. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
CNBC
06-05-2025
- Business
- CNBC
Here are the top 10 things we're watching in the stock market Tuesday
Top 10 things to watch Tuesday, May 6 — Jeff Marks wrote today's Top 10 1. Wall Street is on pace for a lower open this morning. The S & P 500 broke its nine-session win streak yesterday. The market, however, is still dealing with severe overbought conditions, according to the S & P Short Range Oscillator , our trusted momentum indicator. 2. Palantir reported better than expected revenues – up 39% year over year – and in line earnings per share. U.S. government revenue was up 45% year over year. The company raised its full-year revenue outlook to 36% year-over-year growth. Wedbush's Dan Ives raised his price target to $140. The stock fell 8% to around $114 early this morning. 3. Ford Motor reported a better-than-expected first quarter. The automaker would be tracking toward its initial guidance, but it pulled its outlook due to tariff uncertainty. Ford expects a net EBIT impact of $1.5 billion from tariffs. The stock dropped 2%. 4. Club name Coterra Energy delivered better-than-expected free cash flow in the first quarter. The company is reallocating capital and leaning into natural gas over oil to address changing macro conditions. It's reducing capital expenditure and activity in the Permian and slightly increasing capital investment in the Marcellus. The stock dropped 4%. 5. Club stock Dover dipped into its large cash pile, announcing it will buy German-based Sikora for 550 million euros — about $624 million — in cash. Sikora is a leading provider of measuring and control technologies. The business has grown at a double-digit organic growth rate over the last three years, thanks in part to strong growth in data center. 6. ServiceNow's Bill McDermott and Club name Nvidia CEO Jensen Huang will speak later today at ServiceNow's annual Knowledge conference. Artificial intelligence figures to be the main theme. McDermott and Huang will be interviewed on CNBC during "Power Lunch" at 2:30 p.m. ET. 7. Clorox reported a double miss and lowered the high end of its full-year sales outlook. The company now sees 4% to 5% growth this year, down from 4% to 7%. The stock fell nearly 3%. 8. DoorDash missed on revenue, but it announced two separate agreements to buy London-based Deliveroo and technology company SevenRooms. The stock dropped 5%. 9. Marriott lowered its worldwide revenue per available room outlook due to softer expectations in the U.S. and Canada. 10. Sweetgreen was downgraded to neutral from buy at JPMorgan, with analysts seeing a continued softening in underlying demand trends. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. — Jeff Marks wrote today's Top 10 1. Wall Street is on pace for a lower open this morning. The S&P 500 broke its nine-session win streak yesterday. The market, however, is still dealing with severe overbought conditions, according to the S&P Short Range Oscillator, our trusted momentum indicator. 2. Palantir reported better than expected revenues – up 39% year over year – and in line earnings per share. U.S. government revenue was up 45% year over year. The company raised its full-year revenue outlook to 36% year-over-year growth. Wedbush's Dan Ives raised his price target to $140. The stock fell 8% to around $114 early this morning. 3. Ford Motor reported a better-than-expected first quarter. The automaker would be tracking toward its initial guidance, but it pulled its outlook due to tariff uncertainty. Ford expects a net EBIT impact of $1.5 billion from tariffs. The stock dropped 2%. 4. Club name Coterra Energy delivered better-than-expected free cash flow in the first quarter. The company is reallocating capital and leaning into natural gas over oil to address changing macro conditions. It's reducing capital expenditure and activity in the Permian and slightly increasing capital investment in the Marcellus. The stock dropped 4%. 5. Club stock Dover dipped into its large cash pile, announcing it will buy German-based Sikora for 550 million euros — about $624 million — in cash. Sikora is a leading provider of measuring and control technologies. The business has grown at a double-digit organic growth rate over the last three years, thanks in part to strong growth in data center. 6. ServiceNow's Bill McDermott and Club name Nvidia CEO Jensen Huang will speak later today at ServiceNow's annual Knowledge conference. Artificial intelligence figures to be the main theme. McDermott and Huang will be interviewed on CNBC during "Power Lunch" at 2:30 p.m. ET. 7. Clorox reported a double miss and lowered the high end of its full-year sales outlook. The company now sees 4% to 5% growth this year, down from 4% to 7%. The stock fell nearly 3%. 8. DoorDash missed on revenue, but it announced two separate agreements to buy London-based Deliveroo and technology company SevenRooms. The stock dropped 5%. 9. Marriott lowered its worldwide revenue per available room outlook due to softer expectations in the U.S. and Canada. 10. Sweetgreen was downgraded to neutral from buy at JPMorgan, with analysts seeing a continued softening in underlying demand trends. Sign up for my Top 10 Morning Thoughts on the Market email newsletter for free (See here for a full list of the stocks at Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH OUR DISCLAIMER. NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
