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Volume Twenty Seven, Number 9

November 2013

Hard-working managers keep fee increases low again

By Mary Graff

A monthly fee increase of 2.8 percent for 2014 has been set for residents in apartments, villas, Personal Care and Skilled Nursing (the Health Center). According to a chart included with the agenda distributed before the annual budget presentation Oct. 15, the 2014 increase is only slightly higher than the 2.5 percent increase last year and only somewhat higher than the previous two lows, 2 percent each in the 1999 and 2010 budgets. The three highest increases were 8 percent in 1990 and 7 percent in 2002 and 2005. Dolf Paier, chairman of the Finance Committee and of the ad hoc Capital Budget continued on page 2

New CEO, well traveled, sees Beaumont governance model as the ‘wave of the future’ By Peter Binzen

Joseph J. Peduzzi loves to travel. “It’s one of my passions,” he told an interviewer. He has traveled over much of Europe and other parts of the world from Moscow and Stockholm to the Holy Land and Italy, home of his ancestors. He has visited the Caribbean and last year saw him in Australia. He was booked for a cruise in March 2014 from Singapore to Hong Kong, followed by a land tour of China. But our new CEO has scrubbed that trip and won’t be cruising anywhere for a while. “I want to get

With champagne toasts and some spirited shoveling, Beaumont’s Capital Project construction season began last month with a target completion date of May 2. Groundbreakers, from left: Chairman Don Trachtenberg, CEO Joseph Peduzzi and Finance Committee Chairman Dolf Paier. Photo by Louise Hughes ingrained in the Beaumont Family,” he said. Joe had been running retirement communities in California for more than a decade before Beaumont’s Search Committee chose him after a national hunt. He wanted to return to the East to be near his parents, who still live near Pittsburgh, where Joe, an only child, grew up. “My roots are here,” he said. Beaumont’s strong reputation as a retirement community owned and run by its residents attracted him. “That will be the wave of the future,” he said. “The baby boomers will want more involvement.” Joe said that Continuing Care Retirement Community residents of tomorrow “don’t want to run the place, but they want to have significant input on the decision making.” Before he took over, Beaumont’s board voted to CEO continued on page 3


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