Lawrence, Gary 1998-11-11
Bank president Gary Lawrence discusses his career in banking and gives his perspective on Lubbock medicine and the creation of Covenant Health System. Mr. Lawrence was a member of St. Mary’s Hospital Board of Trustees during the merger process.
General Interview Information
Interviewee Name: Gary Lawrence
Additional Parties Recorded: None
Date: November 11, 1998
Location: Lubbock, Texas
Interviewer: Fred Allison
Length: 1 hour, 20 minutes
Abstract
Tape 1, Side 1: Gary Lawrence, background,
Raised in Dallas, Texas,
Graduated from high school (1959),
Moved to Lubbock (1959),
Mother,
Graduate of Lubbock High School,
Her father owned Snyder Transfer and Storage,
Lubbock terminal,
Parents met at Texas Tech,
Father from Mineral Wells, Texas,
Mother now 83 years old,
Attended Texas Tech,
President of Kappa Sigma fraternity,
President, Interfraternity Council,
Major: Accounting,
Banking career,
Training program,
Principles learned, remained same,
Technology changed,
Fort Smith, Arkansas,
Las Vegas, New Mexico, bank president,
Oklahoma,
Rainbow family banks,
Shawnee, Oklahoma,
Norman, Oklahoma,
Tom Nichols, First National Bank of Lubbock,
Offered position,
Returned to Lubbock (1993),
Civic activities, Lubbock,
Chairman, Goals for Lubbock,
Chairman, ‘Market Lubbock’,
Jobs created,
Plains Co-op Oil Mill,
Efforts to keep it in Lubbock,
Expansion,
Perspective on Lubbock and West Texas economy,
‘Third World Country’,
Need for ‘value added’ industries,
Key to future,
Example of Excel Corporation,
Expansion,
Leather processing,
Texas Tech key to future,
Dr. Ronald J. Kendall’s Environmental,
Research,
Dr. John Montford’s efforts,
Attractive climate,
Involvement with St. Mary’s Hospital Board of Trustees,
St. Joseph’s Health System,
AA bond rating,
Financial strength,
Caring yet profitable,
Background as a Baptist,
Respect for Sisters and St. Joseph’s,
Reputation of Catholic hospitals,
Family,
Children,
Oldest son, Sacramento, California,
Daughter, Houston, Texas,
Youngest son, ‘brains of the family’,
Marrying Nancy Tatum,
Wife, Sheryl,
Married 34 years,
Dental hygienist,
Father (again),
President, Coleman Foundation Board,
First Baptist Church,
Snyder Transfer and Storage (again),
Pictures,
Hauling freight, Snyder to Lubbock,
Ancestors in Snyder,
Snyder history,
Buffalo hunting,
Bridgeman ancestors,
Changing weather patterns,
Pictures (again),
Museum in Snyder,
First National Bank, Lubbock,
Origins (1903) and background,
Support of medicine,
President, Walter S. Posey,
1920s,
President, Roy Riddle,
Support of medicine (again),
Lubbock became trade and medical hub,
Attract people from eastern New Mexico,
Lubbock medicine,
Quality,
Texas Tech Medical School,
Economic development (again),
Transportation,
Interstate highway,
Gary Lawrence (again),
St. Mary’s Hospital Board (again),
Selection,
Impressions of St. Mary’s Hospital,
Selection,
Impressions of St. Mary’s Hospital,
Quality,
People.
Tape 1, Side 2: Gary Lawrence (continued),
St. Mary’s Hospital Board (continued),
Impressions of St. Mary’s Hospital (continued),
Preventive medicine,
Issues (c. 1995),
Competition,
Expansion,
Technology,
Operations driven by competition,
Excessive,
Societal concerns,
Unique character of medical care and competition,
Background on hospital competition,
Changes in health care,
Increasing costs,
Managed care,
HMOs and PPOs effect on prices,
Gary Lawrence (again),
St. Mary’s Board (again),
Concern about spending,
Monetary losses,
Inefficiencies,
Need to stay up with Methodist Hospital,
Concern about expense (again),
Battle for survival,
Potential for selling St. Mary’s,
California based,
Competition as driving force (again),
St. Joseph’s made the hard choice,
Commitment to Lubbock,
Sisters’ mission,
Benefits of merger,
Productivity,
Sound financially,
Less duplication,
Better quality medicine,
Hospitals complement each other,
Covenant Health System,
Mission attitude,
Focus on patient, not expansion,
Debt of Methodist Hospital,
Better than outsider health provider,
Lubbock market, unique,
Profit motivated,
Financially sound (again),
Merged boards,
Good relationship.
Tape 2, Side 1: Merger issues,
Management role,
Personnel,
Chris Barnett, Chief Operating Officer,
John Gates, Chief Financial Officer,
Few lay-offs,
Salaries,
Equality of relationship,
Finances,
Merger of equals,
Thoughtfulness of board and administrators,
Christianity a common thread,
Spirit of mission,
Focus lost during era of competition,
Biblical principles,
Uniqueness of Covenant,
Quality medical care,
Unifying spirit,
Healing of old hard feelings,
Prayer at board meetings,
Uniqueness of merger (again),
Gary Lawrence (again),
Perspective on medical care,
Balance needed, doctors and third parties,
Merger (again),
Influential individuals,
Charley Trimble,
Alan White,
Both hospitals concerned about expansion,
Role of Covenant Board,
Community feedback,
10% of proceeds go back into community service,
Origin in Sisters’,
Benefits of non-profit status,
Doctors as servants,
Tape 2, Side 2: Blank
Range Dates: 1940-1998
Bulk Dates: 1995-1998
Access Information
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Transcript:
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