Partners announced: LSU has agreements with Willis-Knighton in Shreveport, Christus Health in Shreveport and Alexandria, St. Francis in Monroe and Rapides Regional in Alexandria to collaborate on future partnerships the university hopes will shore up the financial standing of its Shreveport medical school, Gannett Louisiana reports. The letters of intent were first reported by The Times of Shreveport and its sister newspapers in the USA Today Network of Louisiana Friday. The media company filed a Freedom of Information Act request to obtain the documents and identify the partners, which LSU provided today. LSU already has a contract with the Biomedical Research Foundation, which operates University Health state safety net hospitals in Shreveport and Monroe, although the two have a fractious relationship that has spilled into courtroom battles. Read the full story.
Toughen up: Credit risks have risen in U.S. commercial real estate as lenders compete more fiercely in a low rate environment, a federal banking regulator said today, adding that it was stepping up its scrutiny of the sector. Reuters reports that the Office of the Comptroller of the Currency said in its semiannual risk report that while the financial performance of lenders improved in 2015 compared to a year earlier, credit risks were higher across the industry. The Federal Reserve has kept interest rates low for more than seven years to help the U.S. economy recover from the 2008 financial crisis. But that policy is also weighing on bank profits and pushing lenders to compete more fiercely for worthy borrowers. That competitive pressure is increasing risk, the OCC said. Read the full story.
More money: Starbucks says that it is preparing to give pay increases of at least 5% to all of its U.S. store workers and managers, a move aimed at shoring up the coffee giant’s ability to attract and retain employees in a steadily improving labor market. The Washington Post reports that the planned raises were announced along with other efforts to hang onto workers, including a different approach to selecting health care plans and a more relaxed dress code. It’s the latest move by a restaurant chain that has sought to position itself as a pioneer on workplace issues. In 2014, Starbucks debuted a program in which it covers tuition for full-time and part-time workers to get a college degree online from Arizona State University. It held forums last year for workers to discuss diversity issues as a national debate raged about racism and policing. Read the full story.
