BUSINESS DIGEST: Ascension Texas names new leader – MyStatesman.com

HEALTH CARE

Ascension Texas names new leader

An executive with Houstons renowned Memorial Hermann Health System has been selected to oversee Ascension hospitals in Austin and Waco.

Craig Cordola succeeds Jess Garza as senior vice president of Ascension Healthcare and ministry market executive for Ascension Texas beginning Sept. 1.

In Austin, Ascension operates the Seton Healthcare Family, including Dell Childrens Medical Center of Central Texas. Combined, the facilities employ more than 13,000 people.

Craig is an exceptional choice to lead Ascension Texas, which serves a rapidly growing region where the needs of those we serve continue to expand, Patricia Maryland, executive vice president of Ascension and president and CEO of Ascension Healthcare, said in a written statement.

A University of Texas graduate, Cordola worked for Texas Childrens Hospital and at physician practice management companies in Houston prior to joining Memorial Hermann.

AUTOMAKERS

Harley-Davidson cutting 180 jobs after earnings slip

MILWAUKEE Harley-Davidson Inc. is eliminating about 180 production jobs at its plants this fall, union officials said Tuesday, with locations in suburban Milwaukee and Kansas City, Mo., to be hit the hardest.

The 180 permanent job cuts are coming in the next couple of months as the company throttles back production amid weak U.S. motorcycle sales. Temporary furloughs also are expected at the plants.

Harley-Davidson said soft U.S. motorcycle sales resulted in a disappointing fiscal quarter ended June 25.

Net income fell 7.7 percent to $258.9 million, or $1.48 per share, in the three-month period from $280.4 million, or $1.55 per share, a year earlier. Revenue fell to $1.58 billion from $1.67 billion.

BANKING

Bank of America tops Wall Street forecasts

CHARLOTTE, N.C. Bank of America Corp. on Tuesday reported second-quarter earnings of $5.27 billion.

The bank, based in Charlotte, North Carolina, said it had earnings of 46 cents per share.

The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.

The nations second-largest bank posted revenue of $25.99 billion in the period. Its adjusted revenue was $22.83 billion, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $21.91 billion.

Bank of America shares have increased almost 9 percent since the beginning of the year, while the Standard & Poors 500 index has increased almost 10 percent. The stock has climbed 76 percent in the last 12 months.

HOUSING MARKET

U.S. homebuilder sentiment declines in July

U.S. homebuilders are feeling less optimistic about their sales prospects, although their overall outlook remains positive.

The National Association of Home Builders/Wells Fargo builder sentiment index, released Tuesday, declined to 64 this month. Thats down two points from a downwardly revised reading of 66 in June and the lowest level since November.

Readings above 50 indicate more builders view sales conditions as good rather than poor. The index has been above 60 since September.

The July index fell short of analyst predictions, which called for a reading of 67, according to FactSet.

Readings gauging builders view of sales now and over the next six months also fell from last month. A measure of traffic by prospective buyers also declined.

Sales of new U.S. homes are running ahead of last years pace, reflecting strong demand for homes as the economy has continued to create jobs, pulling the unemployment rate down to a healthy 4.4 percent.

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BUSINESS DIGEST: Ascension Texas names new leader - MyStatesman.com