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Byline: -- Staff and Wire Services

Tenet lawsuit targets Kaiser

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. is suing Kaiser Foundation The mission of the Kaiser Foundation is to assist individuals and communities in preventing and reducing the harm associated with problem substance use and addictive behaviours. External links
  • Kaiser Foundation
 Health Plan Inc., claiming Kaiser failed to pay some $16 million for services provided to Kaiser patients at Tenet-run hospitals.

The lawsuit was filed in Orange County Superior Court. In addition to Tenet, three dozen hospitals are named as plaintiffs in the case.

Kaiser spokesman James Anderson James Anderson can refer to these persons:

In arts:
  • James Anderson (actor)
  • James Anderson (author), British mystery fiction writer
  • James Anderson (writer), American television writer
 said Kaiser disputes the allegations but declined to elaborate. 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 lawsuit, the two health care companies had a deal that called for Dallas-based Tenet to give a discount to Kaiser patients.

The discounts hinged on Kaiser paying bills on time. Otherwise, Kaiser was required to pay the full rate, according to the complaint.

Oakland-based Kaiser disputed many of the charges, however, claiming its patients' conditions should have been treated at its own nonemergency facilities, not at Tenet hospitals.

Gap shares soar on possible sale

SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden  -- Gap Inc. shares surged Monday on a news report that the struggling retailer has hired the investment firm Goldman Sachs to consider a possible sale or other dramatic changes.

The report on CNBC CNBC Center for the Neural Basis of Cognition (artificial intelligence)
CNBC Consumer News and Business Channel
CNBC Congress of National Black Churches, Inc.
 television caused the San Francisco-based company's stock price to rise by as much as 11.4 percent before retreating slightly. Gap shares finished Monday with a gain of $1.37, or 7.25 percent, to close at $20.26 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.
.

Gap turned to Goldman Sachs Group Inc. to explore ``strategic alternatives'' late last year, according to CNBC.

Investors for several months have been wondering whether Gap might dump its chief executive, Paul Pressler, or consider takeover offers in response to the clothing retailer's second prolonged sales slump in the past six years.

GE to acquire oil firm Vetco Gray

NEW HAVEN, Conn. -- Citing strong global demand for energy, General Electric Co. said Monday that it agreed to buy oil-services company Vetco Gray for $1.9 billion from a group of private equity funds.

Vetco Gray provides drilling, completion and production equipment for oil and gas fields. Its owners include private equity funds Candover Partners Ltd., 3i Group PLC & JP Morgan Partners LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
.

The business, which is forecast to generate more than $1.6 billion of sales in 2006, has 5,000 employees with key centers in Houston, Britain, Norway and Singapore.

GE's current oil and gas business has about 5,000 employees, so the acquisition doubles its work force in the business. GE's oil and gas business had about $3.6 billion in revenue in 2005, company officials said.

GE expects demand for energy will increase by an additional 50 percent by 2025, said GE spokesman Peter O'Toole.
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Title Annotation:Business
Publication:Daily News (Los Angeles, CA)
Date:Jan 9, 2007
Words:437
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