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Community Health makes all-cash bid for Tenet
Headline Topics |
2011/04/18 08:48
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Hospital operator Community Health Systems Inc. on Monday revised its $3 billion offer for rival Tenet Healthcare Corp. to an all-cash bid.
Community Health is now offering $6 per share in cash. In December, it had gone public with a bid of $5 per share in cash and $1 per share in stock. At the time, the offer was a premium of about 40 percent to the Dallas company's shares.
But Tenet's board rejected that offer, and adopted a poison pill measure to fend off the bid.
Tenet's shares have recently been trading above $6.
But the company said Monday it will review the revised offer and make a recommendation. It said shareholders should take no action for now.
Tenet shares fell 26 cents, or 3.9 percent, to $6.40 in afternoon trading while Community Health shares dropped $1.74, or 5.5 percent, to $30.16 after falling as much as 14.3 percent earlier in the session.
Community Health Systems runs 130 hospitals in 29 states, and focuses on fast-growing and non-urban markets. Tenet runs 50 hospitals spread across 11 states, and most of its facilities are in urban and suburban communities. |
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Patrick to nominate justice to Mass. high court
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2011/04/06 08:51
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div class=entrydiv class=articlepGov. Deval Patrick is set to make his latest pick to the state’s highest court./ppThe governor has scheduled a Monday afternoon news conference at the Statehouse to nominate an associate justice to the Supreme Judicial Court. If confirmed, the person chosen would succeed Judith Cowin, who in January announced plans to retire after 11 years on the high court./ppThis will be the fourth associate justice that Patrick has selected to the SJC, meaning that he will now have personally selected a majority of the justices on the seven-member court, the oldest continuously serving court in the Western Hemisphere./ppPatrick also elevated Roderick Ireland to chief justice of the SJC following the retirement last year of Margaret Marshall.
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Obama re-election launches with email, website
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2011/04/05 08:51
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div id=bg_contentdiv class=padding10div class=entrydiv class=articlePresident Barack Obama formally launched his re-election campaign Monday, urging grass-roots supporters central to his first White House run to mobilize again to protect the change he's brought over the past two years.pThe official start of his second White House bid, in the midst of three wars, a budget fight with Congress, and sluggish economic recovery, comes 20 months before the November 2012 election./ppWe've always known that lasting change wouldn't come quickly or easily. It never does, the Democrat said in an e-mail announcing his candidacy to more than 13 million supporters. But as my administration and folks across the country fight to protect the progress we've made — and make more — we also need to begin mobilizing for 2012, long before the time comes for me to begin campaigning in earnest./ppHe told them he was filing the necessary paperwork with the Federal Election Commission, and directed them to his new campaign website where a launch video featured clips from supporters talking about their continued backing of the Democrat./ppI don't agree with Obama on everything but I respect him and I trust him, Ed from North Carolina says, delivering what's certain to become a key part of the president's pitch as he tries to re-energize liberal backers who have criticized some of his policies and independent voters who have fled from him in his first term./p/div
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Albany Med settles nursing pay lawsuit for $4.5M
Headline Topics |
2011/02/25 09:27
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| pAlbany Medical Center will pay $4.5 million to settle its share of a federal class-action lawsuit alleging officials conspired with counterparts at other hospitals in the area to keep pay down for about 4,000 registered nurses./ppCourt documents say similar settlements for about 2 percent of nurses' pay from June 2002 to June 2006 were reached with companies operating St. Peter's Hospital in Albany, St. Mary's Hospital and Samaritan Hospital in Troy and Albany Memorial Hospital./ppThe hospital companies admit no wrongdoing. The suit is still pending against Ellis Hospital in Schenectady./ppA call to Albany Med was not immediately returned Wednesday./ppAttorney Daniel Small, representing the nurses, says about $9 million altogether is in an escrow account pending the end of the case. Lawyers are requesting one-third./p |
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Maine court rules against counties in access suit
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2011/02/25 09:26
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| pA Superior Court justice has ruled that six Maine counties overcharged a Cumberland businessman who requested public records under the state's Freedom of Access law./ppJustice Thomas Warren ruled that fees charged by Androscoggin, Aroostook, Cumberland, Knox, Penobscot and York counties -- in response to a request by John Simpson -- can't be justified./ppThe Sun Journal of Lewiston says Simpson, owner of MacImage of Maine, filed Freedom of Access requests in 2009 for digital copies of records in the six counties' registries to create his own document database. Among the prices quoted by the counties were $12 million by Cumberland, and $4 million by Penobscot at $1 per page for 4 million pages./p |
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US high court says Nevada can ban brothel ads
Headline Topics |
2011/02/25 09:26
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The Supreme Court is refusing to invalidate Nevada laws banning newspaper advertisements that identify places where prostitution is legal. pThe court refused to hear on Tuesday an appeal from two newspaper companies, the American Civil Liberties Union and a Nye County brothel called the Shady Lady Ranch./ppLaws went into effect in Nevada in 1979 that prohibited brothel advertising in counties where prostitution is illegal. Prostitution is illegal in five counties, which include Las Vegas and Reno, and 10 Nevada counties authorize prostitution by local ordinance./ppA federal judge said the laws were overly broad and unconstitutional, but the judgment was overturned by the 9th U.S. Circuit Court of Appeals. The Supreme Court upheld that ruling.
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91,000 Gulf oil spill claims, just 1 final payment
Headline Topics |
2011/02/01 10:21
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pBP's compensation fund for Gulf oil spill victims has issued a final settlement payment to just one of the thousands of people and businesses waiting for checks, records show, and that $10 million payout went to a company after the oil giant intervened on its behalf./ppBP won't identify the business, citing confidentiality, but acknowledges it lobbied for the settlement. The amount far exceeds smaller stopgap payments that some individuals and businesses have received while they wait for their own final settlements./ppThe Gulf Coast Claims Facility was set up in August to independently administer BP's $20 billion compensation fund in the aftermath of its April 20 oil well blowout off Louisiana./ppAs of this weekend, roughly 91,000 people and businesses had filed for final settlements, but the fund's administrator, Washington lawyer Kenneth Feinberg, has said those checks won't start rolling out until February at the earliest. Thousands of people have received some money to tide them over until a final settlement amount is offered, but only one business listed as paid on the facility's website has so far received a check./ppA BP spokeswoman called it a unique situation in which an existing BP business partner and BP submitted a view on a specific claim to the facility.
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