BRIEFCASE ZENITH INSURANCE CLAIMS CONSPIRACY.Byline: - Staff and Wire Services WOODLAND HILLS - Zenith Insurance Co. has sued a medical equipment group, alleging that it conspired with physicians to take advantage of workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. benefits. Zenith has accused N-Care of entering into a scheme with physicians who used the company as a middleman mid·dle·man n. 1. A trader who buys from producers and sells to retailers or consumers. 2. An intermediary; a go-between. to dispense and bill for durable medical equipment Durable medical equipment is a term of art used to describe certain Medicare benefits, that is, whether Medicare may pay for the item. The item is defined by Title XVIII the Social Security Act: Worldwide says revenues are up SHERMAN OAKS - Worldwide Restaurant Concepts Inc. on Friday reported revenues of $77.8 million for the first quarter ended July 20, an increase of 15 percent over $67.7 million in the comparable period in fiscal 2003. Net income for the quarter was $3.6 million, or 12 cents per diluted share, compared with $3.3 million, or 12 cents per diluted share, in the same period a year ago. 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. the company, revenue increases resulting from continued same-store sales Same-store sales is a business term which refers to the revenue generated by one of a retail chain's specific outlets during a certain period of time (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year. growth at the company's KFC KFC Kentucky Fried Chicken (restaurant chain) KFC Kenya Flower Council KFC Kitchen Fresh Chicken (Kentucky Fried Chicken motto) KFC Kung Fu Cult (Cinema) KFC Kitchen Fixed Charge and international Sizzlers, the opening of six new Pat & Oscar's in the past year and strengthening of the Australian dollar Noun 1. Australian dollar - the basic unit of money in Australia and Nauru dollar - the basic monetary unit in many countries; equal to 100 cents exchange rate more than offset a decline in domestic same-store sales. Kennedy Wilson redeems shares BEVERLY HILLS Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. - Kennedy Wilson Inc. announced on Friday its redemption of 741,000 shares of common stock from an unaffiliated individual investor, constituting about 8 percent of currently issued and outstanding shares. Under the terms of the agreement, the company purchased 380,000 shares outright and has an option to purchase the remaining 361,000 shares on or before Jan. 5. The total purchase price for all 741,000 shares is $4.1 million. The purchase is not part of the company's current stock-buyback program for 500,000 shares initiated June 10, of which 108,200 shares have been repurchased to date, according to the company. The international real estate investment fund management and real estate services firm was founded in 1977. DaimlerChrysler settles merger suit DETROIT - DaimlerChrysler AG said Friday that it has agreed to pay $300 million to settle a class-action lawsuit filed by investors over the 1998 merger between Daimler-Benz and Chrysler Corp. In a statement, the automaker said it believed the suit seeking $22 billion was groundless, but it agreed to the settlement, ``since a local jury could reach a different conclusion.'' Insurance is expected to cover $220 million of the payment. The proposed settlement has no bearing on billionaire Kirk Kerkorian's suit against the company, parts of which are still pending in court. Kerkorian's Tracinda Corp. once held 14 percent of Chrysler's stock. The Chrysler shareholders whose claims were settled Friday had argued that they were duped into approving the deal that combined Chrysler and Daimler-Benz when executives from both companies portrayed it as a merger of equals. Exxon Valdez This article is about the tank vessel Exxon Valdez. For the spill, see Exxon Valdez oil spill. Exxon Valdez was the original name (later Sea River Mediterranean and eventually Mediterranean spill award rejected DALLAS - A federal appeals court has again ordered a court in Alaska to reconsider a multibillion-dollar punitive-damages award against Exxon Mobil Corp. for the Exxon Valdez oil spill The Exxon Valdez Oil Spill is considered one of the most devastating man-made environmental disasters ever to occur at sea. Prince William Sound's remote location (accessible only by helicopter and boat) made government and industry response efforts difficult and severely taxed . Exxon Mobil, the world's largest publicly traded oil company, said Friday that it should pay no more than $25 million in damages - a fraction of the original $5 billion award. A jury in Alaska approved a $5 billion award to punish the company for spilling 11 million gallons of crude oil into Prince William Sound Prince William Sound, large, irregular, islanded inlet of the Gulf of Alaska, S Alaska, E of the Kenai peninsula. It has many bays and good harbors; the large Columbia Glacier flows into Columbia Bay, in the N central portion. in 1989. The U.S. 9th Circuit Court of Appeals in San Francisco said the award was excessive and sent it back to U.S. District Judge Russel Holland in Anchorage. Holland reduced the award to $4 billion last year. Exxon Mobil appealed, saying the reduced figure was still too high. Rayovac to buy Remington Co. BRIDGEPORT, Conn. - Rayovac Corp. announced plans Friday to buy Remington Products Co., a designer and distributor of battery-powered electric shavers and grooming products, for $165 million. Remington, based in Bridgeport, has been owned by the Kiam family for 24 years, along with Vestar Capital Partners since 1996. The company introduced the world's first electric shaver in 1937 and its brand dates back to 1816, making it one of the oldest consumer brands. Rayovac, based in Madison, Wis., and the third-largest battery maker, said it will pay $165 million in cash and will assume $157 million in Remington debt, which will be retired. Shares of Rayovac rose 65 cents, or nearly 5 percent, to close at $14.25 Friday on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . Remington is known for its television commercials in which former chairman Victor Kiam boasted: ``I liked the shaver so much, I bought the company.'' |
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