BRIEFCASE HEALTH NET FILES TRICARE PROTESTS.Byline: - Staff and Wire Services WOODLAND HILLS - Health Net Inc. announced Monday that its government-contracts subsidiary has filed formal protests against the Department of Defense's managed care program Tricare. Health Net Inc. won a U.S. military contract covering Tricare's northern region last month. But the company is now protesting the Tricare contracts awarded in the West and the South. HemaCare to shut 2 East Coast sites WOODLAND HILLS - In an attempt to reverse its operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. , HemaCare Corp. announced Monday that it will close several blood-management programs. The company will shutter (1) An opaque window that is moved in one direction to let light in and in another to close off the light. In fixed-lens cameras, one shutter often suffices for aperture and speed. operations this month in Albany, N.Y., and Williston, Vt. Other locations to be affected this year were not disclosed. In August, HemaCare reported losses of $272,000, 4 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , on revenue of $6.97 million. 3-, 6-month rates down for T-bills WASHINGTON - Interest rates on short-term Treasury securities fell in Monday's auction. The Treasury Department sold $14 billion in three-month bills at a discount rate of 0.930 percent, down from 0.935 percent last week. An additional $14 billion was sold in six-month bills at a rate of 0.995 percent, down from 1.010 percent. The three-month rate was the lowest since July 21 when the bills sold for 0.895 percent. The six-month rate was the lowest since July 28 when the rate was 0.980 percent. In a separate report, the Federal Reserve said Monday that the average yield for one-year constant maturity Treasury bills, the most popular index for making changes in adjustable-rate mortgages Adjustable-rate mortgage (ARM) A mortgage that features predetermined adjustments of the loan interest rate at regular intervals based on an established index. The interest rate is adjusted at each interval to a rate equivalent to the index value plus a predetermined spread, or , fell to 1.22 percent last week from 1.33 percent the previous week. Production weak in durable goods durable goods Goods, such as appliances and automobiles, that have a useful life over a number of periods. Firms that produce durable goods are often subject to wide fluctuations in sales and profits. Also called consumer durables. WASHINGTON - Industrial production edged up by just 0.1 percent in August, restrained by weakness in manufacturing, especially for big-ticket goods such as automobiles. Federal Reserve officials said Monday the small increase in industrial activity came after a revised 0.7 percent advance in July, even stronger than the 0.5 percent first reported. August's performance, however, was weaker than the 0.3 percent increase that economists were expecting. Ford, supplier OK deals with UAW (spelling) UAW - Misspelling of "IAW"? DEARBORN, Mich. - The United Auto Workers The United Auto Workers (UAW), headquartered in Detroit, Michigan, officially the United Automobile, Aerospace & Agricultural Implement Workers of America International Union announced late Monday it reached tentative tentative, adj not final or definite, such as an experimental or clinical finding that has not been validated. contract agreements with Ford Motor Co. and auto supplier Visteon Corp., leaving General Motors Corp. as the only Big Three automaker still in labor talks with the union. Union representatives had earlier told their members they were close to new labor agreements with Ford and GM but said that difficult issues remained. The union and DaimlerChrysler AG's Chrysler Group announced early Monday, just after midnight, that they had reached a tentative, four-year contract deal. Details of the tentative agreements with Chrysler and Ford weren't being released. |
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