BRIEFCASE FEDERAL PROBERS LOOKING INTO TENET.Byline: - Staff and Wire Services SANTA BARBARA Santa Barbara (săn'tə bär`brə, –bərə), city (1990 pop. 85,571), seat of Santa Barbara co., S Calif., on the Pacific Ocean; inc. 1850. - Officials for Tenet Healthcare Tenet Healthcare Corporation (THC) is an operating company that owns and operates 57 hospitals in the United States [1]. It is based in Dallas, Texas. Its stock ticker symbol on the New York Stock Exchange is NYSE: THC. Corp. say the company has received another subpoena subpoena (səpē`nə) [Lat.,=under penalty], in law, an order to a witness to appear before a court. A subpoena ad testificandum [Lat. from the Justice Department requesting information about certain Medicare payments. The nation's second-largest hospital chain, which previously disclosed that authorities were examining its Medicare billing practices, reported Friday that the subpoena calls for documents from two hospitals owned by Tenet subsidiaries, Tarzana Regional Medical Center and USC An abbreviation for U.S. Code. University Hospital. The U.S. Attorney's Office is seeking medical and billing records from 1998 to the present for certain patients treated at the hospitals, as well as managers' personnel information and information about the hospitals' gross charges, Tenet said in a statement. Enterasys OKs suit settlement CONCORD, N.H. - Enterasys Networks This article or section contains information about scheduled or expected future events. It may contain tentative information; the content may change as the event approaches and more information becomes available. Inc. agreed on Friday to pay $50 million to settle a class-action lawsuit alleging that the company orchestrated phony deals and used accounting tricks to inflate revenues. The agreement, which still must be approved by a judge, also calls for Enterasys officials to make changes in how the company is run, including how board members serve and disclosure of compensation for the chief executive. The Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. County Employees Retirement Association, which led the federal lawsuit, praised the settlement, saying it compensates investors and provides greater corporate oversight. Housing picks up for September WASHINGTON - Residential construction picked up in September, climbing to the second-highest level seen so far this year, a fresh sign that the housing market is helping to power an economic resurgence. The Commerce Department reported Friday that builders broke ground on 1.888 million housing units in September, representing a 3.4 percent increase over August's level. September's performance was stronger than the pace of 1.827 million units that economists had forecast. Housing construction slowed a bit in August, after booming in July. That's when housing starts clocked in at a red-hot rate of 1.890 million units, a 17-year high, and the best performance this year. Home builders, meanwhile, expressed optimism about sales prospects for October as well as for the next six months, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a monthly survey by the National Association of Home Builders The National Association of Home Builders (NAHB) is one of the largest trade associations in the United States. Headquartered in Washington, DC, the association organizes one of the largest conventions in North America, The International Builders' Show, which draws more than . Pharmacy chain official convicted HARRISBURG, Pa. - A federal jury convicted Rite Aid Rite Aid (NYSE: RAD) is a United States retailer and pharmacy chain, operating over 5,000 stores in 31 states and the District of Columbia. Rite Aid Corporation is one of the nation's leading drugstore chains. Corp.'s former chief counsel Friday of conspiracy, witness tampering  This article or section may deal primarily with the U.S. and may not present a worldwide view. and other
charges in a scheme to inflate the pharmacy chain's earnings so he
and other executives could get big payouts.
The guilty verdict for Franklin C. Brown, 75, marked the first conviction by a jury since a string of high-profile scandals rocked the business world two years ago. After 2 1/2 days of deliberation, the jury found Brown guilty of conspiracy, conspiracy to obstruct justice, obstruction of grand jury proceedings, obstruction of government-agency proceedings, witness tampering and five counts of lying to the Securities and Exchange Commission. He was acquitted of wire fraud. Brown faces a maximum sentence of 10 years on the witness-tampering charge and five years for each of the nine other charges. But any sentence likely would be dramatically reduced under federal guidelines. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion