BRIEFCASE HEALTHSOUTH TRIES TO SHRUG OFF BLAME.Byline: - Staff and Wire Services WASHINGTON - HealthSouth's directors, outside auditors and investment bankers tried to deflect blame before Congress on Wednesday for the embattled company's $2.7 billion accounting failure a day after news of the indictment on fraud charges of founder Richard M. Scrushy Richard Marin Scrushy (born 1952) is the founder of HealthSouth, a global healthcare company based in Birmingham, Alabama, convicted in 2006 of bribing Alabama governor Don Siegelman for political favors and currently in prison awaiting appeal. . Lawmakers demanded to know at a House subcommittee hearing why the directors and Ernst & Young auditors failed to detect the massive conspiracy, allegedly led by Scrushy, to overstate earnings of the nation's largest provider of health care services. HealthSouth directors, who approved lavish compensation for Scrushy as shareholders suffered huge losses on plummeting company stock, insisted the auditors kept them in the dark about accounting abuses. Lawmakers asked about Scrushy's tight control of the company, intimidation of directors and employees, shredding documents and seemingly bizarre practices such as costly auditor reviews of company toilets. Lawmakers received with skepticism the sworn testimony The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Sworn testimony is evidence given by a witness who has made a commitment to tell the truth. of directors, auditors, investment bankers and attorneys for the company. They repeatedly pointed to a memo by a disgruntled dis·grun·tle tr.v. dis·grun·tled, dis·grun·tling, dis·grun·tles To make discontented. [dis- + gruntle, to grumble (from Middle English gruntelen; see shareholder that alerted Ernst & Young's auditors five years ago to apparent accounting violations. GM to beef up SUV hybrid engines DETROIT - General Motors Corp. will use stronger gasoline-electric hybrid engines than originally planned on its two full-size sport utility vehicles This page lists sports utility vehicles currently in production (as of April 2007), as well as past models. The list includes crossover SUVs, Mini SUVs, Compact SUVs and other similar vehicles. , the Chevrolet Tahoe The Chevrolet Tahoe (and similar GMC Yukon) is a full-size SUV from General Motors. Chevrolet and GMC sold two different-sized SUVs under their Blazer/Jimmy model names through the early 1990s. This situation changed when GMC rebadged the full-size Jimmy as the Yukon in 1992. and GMC Yukon The GMC Yukon refers to the basic platform used in both long and short versions of the car. Its main articles are here:
One of the sources, who spoke to The Associated Press on condition of anonymity, said the automaker plans to begin offering hybrid engines on the two SUVs in 2007 that improve fuel economy by as much as 35 percent. The hybrid system originally planned for the Tahoe and Yukon would have boosted fuel economy by 15 percent to 20 percent, the company said in January when it announced that hybrid engines would be offered in those models. The world's largest automaker is expected to announce the additions to its hybrid program today. Hybrids draw power from two different energy sources, typically a gas or diesel engine combined with an electric motor. For now, the only versions available in the United States are small cars made by Honda Motor Co. and Toyota Motor Corp. Guess, Parlux in fragrance pact Los Angeles-based Guess Inc. and its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Guess IP Holder LP, announced Wednesday that they have entered into an exclusive worldwide licensing agreement with Parlux Fragrances Inc. The deal involves developing, manufacturing and distributing of fragrances and related products under various Guess trademarks. The initial term of the agreement is through December 2009. Due to the long launch period related to the development of fragrance products, the company said it does not anticipate receiving significant royalty revenues from the license until 2005. Guess reported that retail sales for the five weeks ended Nov. 1 totaled $40.5 million, up 14.5 percent from the $35.3 million in sales recorded in the year-ago period. Guess designs, markets, distributes and licenses apparel, accessories and related consumer products. Rebuff Stewart, prosecutors ask NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - Two months before Martha Stewart goes to trial, federal prosecutors are urging a judge not to grant Stewart's request to toss out two of the five charges against her. Prosecutors made their request in extensive court papers filed Wednesday night with U.S. District Judge Miriam Goldman Cedarbaum Judge Miriam Goldman Cedarbaum (born 1929 in New York City) is a senior judge on the United States District Court for the Southern District of New York. Federal judicial service Cedarbaum was nominated by Ronald Reagan on February 3, 1986, to a seat vacated by Charles E. , who is overseeing the stock-trading case. Stewart asked the judge last month to dismiss two charges - securities fraud and obstruction of justice A criminal offense that involves interference, through words or actions, with the proper operations of a court or officers of the court. The integrity of the judicial system depends on the participants' acting honestly and without fear of reprisals. - related to Stewart's sale of ImClone Systems stock on Dec. 27, 2001. The securities fraud count claims Stewart repeatedly deceived investors in her own company, Martha Stewart Living Omnimedia Martha Stewart Living Omnimedia Inc. (MSLO, NYSE: MSO) is publishing and content provider founded by Martha Stewart. The Company's business activities center around the domestic arts. In 2005 MSLO reported revenues of US$209.5 million compared to US$187. , when she insisted last summer that she had done nothing wrong in the ImClone scandal. |
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