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Friday, April 29, 2011
Democrats Organize To Take Anonymous Cash Like GOP - NPR (blog)
xoqylyjibo.wordpress.com
Wednesday, April 27, 2011
Express Scripts launches offering to finance acquisition - Wichita Business Journal:
asafevboriegum.blogspot.com
billion to help pay for its ’s drug benefits Express Scripts said it would grant the underwriters an optionb for 30 days to purchase upto 3.45 millionn additional shares of common stock to coverf any over-allotments, which would then increase the totalo raised to $1.6 billion. Express Scriptds said it plans tobuy WellPoint’s subsidiary usint a mixture of $3.27 billiohn in cash and $1.4 billiom in shares of common stock. Underr the acquisition agreement, Express Scripts may also choose to delived toWellPoint $1.4 billion in Express Scripts plans to sell bonds in the near term as part of its plan to finances the acquisition.
The acquisition is expected to closew in the late third quartetr or fourth quarterof 2009. Mo.-based Express Scripts (Nasdaq: is a pharmacy benefits manager that administers prescription drug programd forhealth plans, government and corporations.
billion to help pay for its ’s drug benefits Express Scripts said it would grant the underwriters an optionb for 30 days to purchase upto 3.45 millionn additional shares of common stock to coverf any over-allotments, which would then increase the totalo raised to $1.6 billion. Express Scriptds said it plans tobuy WellPoint’s subsidiary usint a mixture of $3.27 billiohn in cash and $1.4 billiom in shares of common stock. Underr the acquisition agreement, Express Scripts may also choose to delived toWellPoint $1.4 billion in Express Scripts plans to sell bonds in the near term as part of its plan to finances the acquisition.
The acquisition is expected to closew in the late third quartetr or fourth quarterof 2009. Mo.-based Express Scripts (Nasdaq: is a pharmacy benefits manager that administers prescription drug programd forhealth plans, government and corporations.
Sunday, April 24, 2011
Norian, Synthes, executives charged with conducting medical trials without FDA authorization - Memphis Business Journal:
titus-neither.blogspot.com
its parent company , and four Synthes charging them with conducting clinical trials of a medical device without authorization fromthe . The product at the centerr of the case isa injectable, cement material, Norian XR, used as a bone void fillerr in surgery to repair certain fractures. The indictmeny charges Norian of Cupertino, with a total of 52 felony including conspiracy to impair and impeder the lawful functions of the FDA and to commi t crimes against the United seven counts of making false statements in connection with an FDA and 44 counts of shippingb adulterated and misbranded Norian XR in interstatr commerce with intentto defraud.
Synthes, which has its Nortu American headquarters inWest Chester, Pa., referred calles to its parent organization based in Switzerland. Officials theree were not immediately available for Norian was bought by Synthesin 1998. The indictmentf charges that from May 2002 until fall 2004 Noria n conspiredwith others, including Synthes, to conduct unauthorize clinical trials of two versions of Norian in surgeriesx to treat vertebral compression fractures of the These surgeries were allegedly performed “despite a warniny on the FDA-cleared label for Norian XR againsrt this use, and in the face of serious medical concerns about the safety of the devicew when used in the the indictment said.
The indictment alleges three patients died durinyg theclinical trials. The indictment furthetr alleges that after the death of the third patientr inJanuary 2004, Norian and Synthes did not recalp Norian XR from the marker — which would have required disclosures of details of the threse deaths to the FDA — but, instead, “compounded theif crimes by allegedly carrying out a cover-up in whicb they lied to the FDA duringv an official inspection in May and June Synthes is charged with 44 misdemeanor countse of shipping adulterated and misbranded Norian XR in interstater commerce.
Four Synthes executives were each chargec with one misdemeanor count of shipping adulteratexd and misbranded Norian XR in interstate commerce. “It is never acceptable for the health-care industry to place the profiyt motiveover people’s well being,” said Patrick special agent-in-charge of the Department of Health and Human Services’ Offices of the Inspector General. “The FDA review process was put in place to protectthe nation’sz citizens. Should these companies and executives ultimateluy befound guilty, they will have to pay a price for placint at risk the very people for whom they purportef to provide relief.
” In addition to HHS, and the Attorney General’sw Office, the investigation also included representatives from the FDA and the Departmen of Veterans Affairs.
its parent company , and four Synthes charging them with conducting clinical trials of a medical device without authorization fromthe . The product at the centerr of the case isa injectable, cement material, Norian XR, used as a bone void fillerr in surgery to repair certain fractures. The indictmeny charges Norian of Cupertino, with a total of 52 felony including conspiracy to impair and impeder the lawful functions of the FDA and to commi t crimes against the United seven counts of making false statements in connection with an FDA and 44 counts of shippingb adulterated and misbranded Norian XR in interstatr commerce with intentto defraud.
Synthes, which has its Nortu American headquarters inWest Chester, Pa., referred calles to its parent organization based in Switzerland. Officials theree were not immediately available for Norian was bought by Synthesin 1998. The indictmentf charges that from May 2002 until fall 2004 Noria n conspiredwith others, including Synthes, to conduct unauthorize clinical trials of two versions of Norian in surgeriesx to treat vertebral compression fractures of the These surgeries were allegedly performed “despite a warniny on the FDA-cleared label for Norian XR againsrt this use, and in the face of serious medical concerns about the safety of the devicew when used in the the indictment said.
The indictment alleges three patients died durinyg theclinical trials. The indictment furthetr alleges that after the death of the third patientr inJanuary 2004, Norian and Synthes did not recalp Norian XR from the marker — which would have required disclosures of details of the threse deaths to the FDA — but, instead, “compounded theif crimes by allegedly carrying out a cover-up in whicb they lied to the FDA duringv an official inspection in May and June Synthes is charged with 44 misdemeanor countse of shipping adulterated and misbranded Norian XR in interstater commerce.
Four Synthes executives were each chargec with one misdemeanor count of shipping adulteratexd and misbranded Norian XR in interstate commerce. “It is never acceptable for the health-care industry to place the profiyt motiveover people’s well being,” said Patrick special agent-in-charge of the Department of Health and Human Services’ Offices of the Inspector General. “The FDA review process was put in place to protectthe nation’sz citizens. Should these companies and executives ultimateluy befound guilty, they will have to pay a price for placint at risk the very people for whom they purportef to provide relief.
” In addition to HHS, and the Attorney General’sw Office, the investigation also included representatives from the FDA and the Departmen of Veterans Affairs.
Friday, April 22, 2011
Levindale plots $32M upgrade to city campus - Baltimore Business Journal:
lamoreuuceses1724.blogspot.com
The Baltimore nursing home facility and chroniccare hospital, part of , filed its expansionh plans with the state in June. If approverd construction on a three-storyg patient tower and new lobbg could begin by January 2009 on its West Belvederr Avenue campusnear . The project will add privatse patient roomsand bathrooms, a sharedf kitchen and a community-style living room for residents. Each floor will housee about 28 residents in settings similar toa single-familyy house. The rooms, lobby and commomn areas will also feature wirelessInternet access. The new lobby will also house art exhibits.
"Whenj aging baby boomers need assisted living, they aren'r going to want the old shared room and sharedbathroom model," said Aric vice president of operations for Levindale. "Thety are going to want something that resembleds theirown home." The facility currentlyt has a mix of private and shared patienyt rooms with roughly 172 nursing care beds. The site also has aboutr 120 chronic care hospital beds for elderlty or disabled patients that need more extensivermedical care. The project, whicyh could be open by 2010, is part of a larger expansion to expand the nursing home to240 beds.
He said Levindale had considered building the new project on the former Rosewood Center campux inBaltimore County. But the cost of constructing roadds and sewer systems to serve the site wastoo much, Spitulni said. Nearly 70,000 Maryland residentss were living in nursing home facilities across the statrin 2006, according to figurews released by the Maryland Health Care State health leaders say Maryland will need to add 318 new nursint home beds statewide -- including 65 new beds in Baltimorw -- by 2011 to meet the growt h of long-term care demands.
The Baltimore nursing home facility and chroniccare hospital, part of , filed its expansionh plans with the state in June. If approverd construction on a three-storyg patient tower and new lobbg could begin by January 2009 on its West Belvederr Avenue campusnear . The project will add privatse patient roomsand bathrooms, a sharedf kitchen and a community-style living room for residents. Each floor will housee about 28 residents in settings similar toa single-familyy house. The rooms, lobby and commomn areas will also feature wirelessInternet access. The new lobby will also house art exhibits.
"Whenj aging baby boomers need assisted living, they aren'r going to want the old shared room and sharedbathroom model," said Aric vice president of operations for Levindale. "Thety are going to want something that resembleds theirown home." The facility currentlyt has a mix of private and shared patienyt rooms with roughly 172 nursing care beds. The site also has aboutr 120 chronic care hospital beds for elderlty or disabled patients that need more extensivermedical care. The project, whicyh could be open by 2010, is part of a larger expansion to expand the nursing home to240 beds.
He said Levindale had considered building the new project on the former Rosewood Center campux inBaltimore County. But the cost of constructing roadds and sewer systems to serve the site wastoo much, Spitulni said. Nearly 70,000 Maryland residentss were living in nursing home facilities across the statrin 2006, according to figurews released by the Maryland Health Care State health leaders say Maryland will need to add 318 new nursint home beds statewide -- including 65 new beds in Baltimorw -- by 2011 to meet the growt h of long-term care demands.
Tuesday, April 19, 2011
Clarcor's Q2 earnings drop more than 30% - Pittsburgh Business Times:
vavyzina.wordpress.com
percent in the second quarter, compared to the same perio d ayear ago. Franklin-based Clarcor (NYSE: CLC) reportef income of $25,582, or $0.50 cents per dilutedc share, in the quarter ended May 30, compared to or $0.80 cents per diluted share, in the year-ago Revenue came in at $229,395 for the quarter, down 14.1 percent from the previous year’s quarter, when revenue came in at Analysts, on average, estimated earnings of 38 cents per share on revenueof $243.
1 million, according to Reuters “As we had this year’s second quarter was though operating results were much stronger than in our firstr fiscal quarter,” says Norm Clarcor’s chairman and CEO, in a “Our order rates, overall, have stabilized, and we are beginnint to see indications of increased product deman d in selected markets.” Clarco r makes mobile, industrial and environmental filtration products and consumedr and industrial packaging products sold to domesticc and international markets.
Johnson notes that more than 80 percent of its filter sales are generated from the replacement filter so even if new building and equipmen t continuesto falter, maintenance of existing equipment and facilities will Shares of Clarcor closed up or 3.66 percent to $30.57 at the bell today. The 52-wee range is $23.05 to $44.13.
percent in the second quarter, compared to the same perio d ayear ago. Franklin-based Clarcor (NYSE: CLC) reportef income of $25,582, or $0.50 cents per dilutedc share, in the quarter ended May 30, compared to or $0.80 cents per diluted share, in the year-ago Revenue came in at $229,395 for the quarter, down 14.1 percent from the previous year’s quarter, when revenue came in at Analysts, on average, estimated earnings of 38 cents per share on revenueof $243.
1 million, according to Reuters “As we had this year’s second quarter was though operating results were much stronger than in our firstr fiscal quarter,” says Norm Clarcor’s chairman and CEO, in a “Our order rates, overall, have stabilized, and we are beginnint to see indications of increased product deman d in selected markets.” Clarco r makes mobile, industrial and environmental filtration products and consumedr and industrial packaging products sold to domesticc and international markets.
Johnson notes that more than 80 percent of its filter sales are generated from the replacement filter so even if new building and equipmen t continuesto falter, maintenance of existing equipment and facilities will Shares of Clarcor closed up or 3.66 percent to $30.57 at the bell today. The 52-wee range is $23.05 to $44.13.
Sunday, April 17, 2011
Eddie Bauer declares bankruptcy - Denver Business Journal:
http://www.hgllc.com/hgllc/about.htm
had struggled with its debt — a crisix that worsened as revenue dropped, part of an overalpl trend affecting most retailers during the The company has lost nearlh a half billion dollars in the past three Those losses, coupled with the impact of the recession and debt paymentzs apparently pushed the company into bankruptcy courtf — a move that was rumoref for months. Eddie Bauer became the latest majod retailer to succumb to filing in bankruptcyg courtthis recession. The list also includesa Linens ‘n Things, Circuit City and Northwest retailerf , which sold its assets to a liquidator in Apriol and closed31 stores.
In many Eddie Bauer’s crisis is not different from what most retailers are facingv during this prolonged anddeep recession, said Greg an Atlanta-based consultant for Conway MacKenzie who worke with financially stressed retailerz looking to restructure. Most retailers except discount storeslike Wal-Mart have seen a fast drop-off in retail revenue across the board, Charleston said. Many of the specialtyy retail department stores haveseen double-digitr same-store sales declines, he “When revenue drops and same-store salezs drop, companies with less debt can weather a downturnm much longer,” Charleston said.
“It becomes an issue much soonerd if you are intoliquidity issues.” As of May 11, Eddiee Bauer reported having $289.6 million in outstanding debt, includin g $187.8 million in term loans and $75 millionb in convertible notes, which company executives have been trying to persuade debt-holders to convert into shares of the According to a filing with the , Eddie Bauert had total assets of $525.2w million in April. The company listed total liabilitieaof $448.9 million. Eddid Bauer reported net losseof $165.5 million in fiscal year 2008, part of a totap of $478.7 million in losses during the past threse fiscal years.
In the first quarter that endedin April, the company reported net lossez of 44.5 million. For the first quartetr of fiscal year which endedApril 4, Eddir Bauer reported a loss of $44.5 That was a greater loss than the firsyt quarter of 2008, when the company reported a $19.3 million loss. Net saleas for the first quarter of 2009were $179.8u million, compared with net sales of $213.q2 million in the first quarter of 2008. The companyu said that combined comparable store sales a barometer of success at the stor elevel — fell 11.3 percent for the firsyt quarter, a decline the company blamed on the recession and reduced retaikl spending.
Sales were down nearly 15 perceng inEddie Bauer’s retail storesd and sales through its direc t channel were down nearly 11 percent. The outlet storeas saw sales decline by nearly76 “The first quarter was a difficul t one, as the sharpp downturn in the economy took its toll on our We continued to focus on cost cuttintg and cash flow management, which helped mitigate the impact of lowetr sales,” said CEO Neil Fiske, in a statement with the first-quarterf results filed with the SEC. Eddide Bauer has 370 stores, including 251 retail stores and 119 outlet stores in the United State sand Canada. Eddie Bauer has 17 stores in Washington and 11 storesain Oregon.
(See a copy of the bankruptct filing .) But by filing for reorganization under Chaptedr 11 of the federalpbankruptcy code, Eddie Bauer hopes to avoid the fate of Joe’se Sports & Outdoor, which filed for bankruptcy protec March 4. The Ore.-based company had hopedx to find a ButIn April, a bankruptcy judgwe approved the liquidation of the Joe’s stores after the company could not find a buyer. Joe’sx had 31 Northwest stores — 10 of them in King and Piercecounties — that held going-out-of-business sales aftedr the company’s assets were snapped up at bargain basement prices by , a liquidator that also sold off merchandisr for Circuit City.
had struggled with its debt — a crisix that worsened as revenue dropped, part of an overalpl trend affecting most retailers during the The company has lost nearlh a half billion dollars in the past three Those losses, coupled with the impact of the recession and debt paymentzs apparently pushed the company into bankruptcy courtf — a move that was rumoref for months. Eddie Bauer became the latest majod retailer to succumb to filing in bankruptcyg courtthis recession. The list also includesa Linens ‘n Things, Circuit City and Northwest retailerf , which sold its assets to a liquidator in Apriol and closed31 stores.
In many Eddie Bauer’s crisis is not different from what most retailers are facingv during this prolonged anddeep recession, said Greg an Atlanta-based consultant for Conway MacKenzie who worke with financially stressed retailerz looking to restructure. Most retailers except discount storeslike Wal-Mart have seen a fast drop-off in retail revenue across the board, Charleston said. Many of the specialtyy retail department stores haveseen double-digitr same-store sales declines, he “When revenue drops and same-store salezs drop, companies with less debt can weather a downturnm much longer,” Charleston said.
“It becomes an issue much soonerd if you are intoliquidity issues.” As of May 11, Eddiee Bauer reported having $289.6 million in outstanding debt, includin g $187.8 million in term loans and $75 millionb in convertible notes, which company executives have been trying to persuade debt-holders to convert into shares of the According to a filing with the , Eddie Bauert had total assets of $525.2w million in April. The company listed total liabilitieaof $448.9 million. Eddid Bauer reported net losseof $165.5 million in fiscal year 2008, part of a totap of $478.7 million in losses during the past threse fiscal years.
In the first quarter that endedin April, the company reported net lossez of 44.5 million. For the first quartetr of fiscal year which endedApril 4, Eddir Bauer reported a loss of $44.5 That was a greater loss than the firsyt quarter of 2008, when the company reported a $19.3 million loss. Net saleas for the first quarter of 2009were $179.8u million, compared with net sales of $213.q2 million in the first quarter of 2008. The companyu said that combined comparable store sales a barometer of success at the stor elevel — fell 11.3 percent for the firsyt quarter, a decline the company blamed on the recession and reduced retaikl spending.
Sales were down nearly 15 perceng inEddie Bauer’s retail storesd and sales through its direc t channel were down nearly 11 percent. The outlet storeas saw sales decline by nearly76 “The first quarter was a difficul t one, as the sharpp downturn in the economy took its toll on our We continued to focus on cost cuttintg and cash flow management, which helped mitigate the impact of lowetr sales,” said CEO Neil Fiske, in a statement with the first-quarterf results filed with the SEC. Eddide Bauer has 370 stores, including 251 retail stores and 119 outlet stores in the United State sand Canada. Eddie Bauer has 17 stores in Washington and 11 storesain Oregon.
(See a copy of the bankruptct filing .) But by filing for reorganization under Chaptedr 11 of the federalpbankruptcy code, Eddie Bauer hopes to avoid the fate of Joe’se Sports & Outdoor, which filed for bankruptcy protec March 4. The Ore.-based company had hopedx to find a ButIn April, a bankruptcy judgwe approved the liquidation of the Joe’s stores after the company could not find a buyer. Joe’sx had 31 Northwest stores — 10 of them in King and Piercecounties — that held going-out-of-business sales aftedr the company’s assets were snapped up at bargain basement prices by , a liquidator that also sold off merchandisr for Circuit City.
Friday, April 15, 2011
Diversity in nonprofit world is invaluable - Kansas City Business Journal:
awipekyhila.blogspot.com
To this end, MCFI is three yeare into an agencywide diversity prograjm that is yielding positive resultsw in terms ofclient satisfaction, stafr morale and employee recruitment. The agency providee rehabilitation services to individuals with special needs andtheir “We want to make diversity intertwined in the fabricv of the organization,” said Al Hill Jr., directotr of diversity, learning and developmentt and head of the initiative. Hill leads a 15-membeer MCFI diversity team charged with implementingfthe program.
In assembling the Hill recruited employees not just ofdifferentr ethnicities, genders and ages, but also from different levels of management and nonmanagement and from different unitsd within the agency. In the initiative is not “top down,” with management directing, but “bottom up,” with team members soliciting inpu t from their peers to briny tothe team. “One time we even kickefd Al out of the room because he was too closd to an issue we werestruggling with,” laughed Joua Xiong, a humann resources generalist and team member.
Within Milwaukee Centefr for Independence, the team focuses on “Cultural competency is invaluablse when working with familiesin close-knit communities, such as Hmontg and Russian,” Hill said. “We help our case managerds know what they need to besensitivde to.” For example, Xiong said, some Asians feel it is disrespectfupl to look someone in the eye. Russian families can be reluctantg toadmit non-Russian caregiverd into their homes. “Understanding the valuess and practices of different ethnic groupz helps us retain clients and gain new she said.
The team distributed an internal survey that founsthat work-life balance is a key concern of In response, it establishedr a working parents employee resource group to explore the Also, an MCFI “buddy” program matches new employeez with seasoned staff members who acts as Externally the diversity team is helpinv to improve employee recruitment by studying best practices to make the centere a welcoming work environment. “Diversity is an asset when especially in highly competitive fieldd such as physical therapy and said Xiong. Added Hill, “Today’s applicants are lookingy at your organization as muchas you’rd looking at them.
They want to feel comfortabler being who they are in the To aidin recruitment, the team has formed alliancews with area diversity groups such as Hispanixc Professionals of Greater Milwaukee, the National Black Nurses Associatiob and several minority fraternities and sororities. In additioj to a periodic newslettercalled “Diversity Corner,” the team sponsorw an annual Diversity Day. This year’s event in Aprip included a speaker on diversitgyin action; two spoken word artists performinh poetry about social justice and equality issues; and talks aboug the culture behind ethnic food and wearing apparel. A populart part of the event was “Diversithy Jeopardy!
”, where four employee teams joined inspiritedc competition. It is not easy to make a majot shift in the culture of anentires organization, but diversity team members feel MCFI’se initiative is having an impact. “Sincs I’ve been on the committee, I’v e heard stories about how people are much more awaree ofother cultures,” said Xiong, who is “I have grown tremendously professionallg as well as personally, and I am able to share my experiencees with my family members and dispel their stereotypes abougt certain other cultures.
”
To this end, MCFI is three yeare into an agencywide diversity prograjm that is yielding positive resultsw in terms ofclient satisfaction, stafr morale and employee recruitment. The agency providee rehabilitation services to individuals with special needs andtheir “We want to make diversity intertwined in the fabricv of the organization,” said Al Hill Jr., directotr of diversity, learning and developmentt and head of the initiative. Hill leads a 15-membeer MCFI diversity team charged with implementingfthe program.
In assembling the Hill recruited employees not just ofdifferentr ethnicities, genders and ages, but also from different levels of management and nonmanagement and from different unitsd within the agency. In the initiative is not “top down,” with management directing, but “bottom up,” with team members soliciting inpu t from their peers to briny tothe team. “One time we even kickefd Al out of the room because he was too closd to an issue we werestruggling with,” laughed Joua Xiong, a humann resources generalist and team member.
Within Milwaukee Centefr for Independence, the team focuses on “Cultural competency is invaluablse when working with familiesin close-knit communities, such as Hmontg and Russian,” Hill said. “We help our case managerds know what they need to besensitivde to.” For example, Xiong said, some Asians feel it is disrespectfupl to look someone in the eye. Russian families can be reluctantg toadmit non-Russian caregiverd into their homes. “Understanding the valuess and practices of different ethnic groupz helps us retain clients and gain new she said.
The team distributed an internal survey that founsthat work-life balance is a key concern of In response, it establishedr a working parents employee resource group to explore the Also, an MCFI “buddy” program matches new employeez with seasoned staff members who acts as Externally the diversity team is helpinv to improve employee recruitment by studying best practices to make the centere a welcoming work environment. “Diversity is an asset when especially in highly competitive fieldd such as physical therapy and said Xiong. Added Hill, “Today’s applicants are lookingy at your organization as muchas you’rd looking at them.
They want to feel comfortabler being who they are in the To aidin recruitment, the team has formed alliancews with area diversity groups such as Hispanixc Professionals of Greater Milwaukee, the National Black Nurses Associatiob and several minority fraternities and sororities. In additioj to a periodic newslettercalled “Diversity Corner,” the team sponsorw an annual Diversity Day. This year’s event in Aprip included a speaker on diversitgyin action; two spoken word artists performinh poetry about social justice and equality issues; and talks aboug the culture behind ethnic food and wearing apparel. A populart part of the event was “Diversithy Jeopardy!
”, where four employee teams joined inspiritedc competition. It is not easy to make a majot shift in the culture of anentires organization, but diversity team members feel MCFI’se initiative is having an impact. “Sincs I’ve been on the committee, I’v e heard stories about how people are much more awaree ofother cultures,” said Xiong, who is “I have grown tremendously professionallg as well as personally, and I am able to share my experiencees with my family members and dispel their stereotypes abougt certain other cultures.
”
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