BUSINESS NOTES: SEC CHARGES SALES AGENTS WITH FRAUD.The Securities and Exchange Commission on Wednesday charged 12 former sales agents of Papa Holdings Inc. with fraud in connection with the sale of $23 million in securities. The complaint, filed in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. federal court, alleges that the agents failed to disclose to investors the amount of commissions they were receiving for selling the stock. Papa Holdings Inc. formerly operated restaurants in Pasadena, Beverly Hills, Encino and Long Beach under the name ``Papashon.'' The Woodland Hills-based company raised nearly $23 million from 1,400 investors nationwide between November 1995 and January 1999 to purportedly open four new restaurants and create a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. . Instead, these companies used investor funds to pay undisclosed sales commissions and to pay for losses at existing restaurants, said Valerie Caproni, director of the SEC's Pacific Regional Office. - Daily News Kodak buying into Oscar's new home Eastman Kodak Co., the Rochester, N.Y.-based film and imaging company, is paying about $75 million to affix affix v. 1) to attach something to real estate in a permanent way, including planting trees and shrubs, constructing a building, or adding to existing improvements. its name to the future home of the Academy Awards. The Kodak Theater, being built at Hollywood Boulevard and Highland Avenue in Hollywood, is expected to be finished late next year. - Daily News Care center trying to restore funding Burbank-based Fountain View Inc., an operator of long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. centers, said Wednesday that it continues to ``work through regulatory issues'' to restore Medicare and Medicaid Medicare and Medicaid U.S. government programs in effect since 1966. Medicare covers most people 65 or older and those with long-term disabilities. Part A, a hospital insurance plan, also pays for home health visits and hospice care. funding to one of its Orange County facilities. Company officials anticipated that Carehouse Care Center would begin receiving money from the two federal programs in May, but no funds have been received. Fountain View runs 44 skilled nursing and six assisted living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. facilities in California, Texas and Arizona. - City News Service Next for NetZero: Canadian Internet Westlake Village-based NetZero said Wednesday that it plans to launch free Internet access service in Canada this fall. Working with Canadian partners, NetZero is now building a portal rich in Canadian content, dedicated to serving Canadian Internet users. The company, which provides free Internet service An ISP that provides access to the Internet without charge to the user. The service is supported by advertising which appears on a special version of the user's browser and cannot be eliminated. NetZero (www.netzero. in the United States, will offer local dial-up access for Canadian Internet users in more than 3,000 North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. cities. - City News Service |
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