BRIEFCASE.Byline: - Staff and Wire Services Two booked for insurance fraud ENCINO - A chiropractor and her legal assistant tried to cheat two insurers for treatments they never performed, the California Department of Insurance The California Department of Insurance (CDI), established in 1868, is the angency charged with overseeing the regulation of insurance regulations, enforcing statutes mandating consumer protections, educating consumers, and fostering the stability of insurance markets in the state alleged Friday. According to the DOI (Digital Object Identifier) A method of applying a persistent name to documents, publications and other resources on the Internet rather than using a URL, which can change over time. , Nasrin ``Nancy'' Hadizadeh Fathi, a 43-year-old who operated the Valley Spine Institute, and 51-year-old Behrouz Beck Saffary of the Law Offices of Karineh Avanessian attempted to obtain more than $30,000 for phony treatment on undercover operatives. The two were taken into custody Thursday and booked into the Los Angeles County jail, with bail set at $40,000 apiece. Superior warns of declining orders VAN NUYS - Superior Industries International Inc. on Friday warned of declining customer orders in updating its earnings guidance for the second quarter ending June 30. The company said fewer customer orders resulted in reduced plant use, work schedules and gross margin by more than was previously anticipated. As a result, the company expects net earnings for the second quarter in the range of 15 cents to 17 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. . Superior plans to report its financial results for the second quarter and to host a conference call in late July. Merger of Sprint, Nextel awaits vote KANSAS CITY, Mo. - Shareholders of Sprint Corp. and Nextel Communications Inc. will vote July 13 on their proposed $35 billion merger, the telecommunications companies said in a Securities and Exchange Commission filing Friday. Sprint will hold its annual meeting in Overland Park, Kan., while Nextel shareholders will meet in Reston, Va. As part of the ``merger of equals,'' Nextel shareholders will receive 1.3 shares of the new Sprint Nextel Corp. for each of their shares, as well as some cash. The companies said they are structuring the merger to prevent tax liability, so officials don't know Don't know (DK, DKed) "Don't know the trade." A Street expression used whenever one party lacks knowledge of a trade or receives conflicting instructions from the other party. yet how much Nextel shareholders will receive. But they said the amount of money to be paid is capped at $2.8 billion. Assuming the merger is approved by shareholders and regulators, the companies expect to close the deal in the third quarter. Exec's retirement packet rescinded 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 - Wal-Mart Stores Inc. disclosed late Friday that it was rescinding the retirement agreement for its former vice chairman, Tom Coughlin, who resigned from the board in March amid allegations of improper spending. The move will cause him to forfeit millions of dollars in benefits. A filing with the Securities and Exchange Commission included a letter to Coughlin's attorney, dated Friday, in which Wal-Mart also said it was terminating Coughlin as an officer retroactively for ``gross misconduct.'' Coughlin, who retired as an officer late last year but remained on the board until March 25, is to forfeit all outstanding stock awards and all incentive payments under his retirement pact, the filing said. Polo Q4 earnings off due to charges NEW YORK - Apparel designer Polo Ralph Lauren Polo Ralph Lauren (NYSE: RL) is American fashion designer Ralph Lauren's luxury lifestyle company. Polo Ralph Lauren specializes in high-end casual/semi-formal wear for men and women, as well as accessories, fragrance, and housewares. Corp. said Friday that its earnings fell sharply in the fourth quarter, hurt by charges from litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , restructuring and an alleged security breach of its computer system. Minus the charges, however, the company's earnings came in slightly ahead of Wall Street estimates. Polo shares soared $3.55 to close at $44.11 in late trading Late trading Late trading of mutual fund shares occurs when investors placing trades after 4 PM receive the 4 PM price. These late traders can use the information revealed after 4 PM to guide their trades: buying funds when their current value is greater than their 4 PM value and 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. . Polo also reaffirmed its fiscal 2006 earnings outlook. Quarterly income slipped to $23.4 million, or 22 cents per share, from $76.4 million, or 75 cents, in the year-ago period, the company said. Setting aside one-time charges, Polo's adjusted earnings amounted to $85.1 million, or 81 cents per share. That compares with the average estimate of 80 cents per share from analysts polled by Thomson Financial Thomson Financial A major provider of information, analytical tools, and consulting services to the financial community. The firm, a division of Thomson Corporation, is best known to investors for its First Call segment, which publishes consensus earnings . |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion