An Illinois medical products company will pay $85 million to settle a whistleblower lawsuit accusing it of paying fraudulent kickbacks to hospitals and companies such as HCA Inc and HealthSouth Corp that buy supplies paid for by Medicare and Medicaid. Get the full story »
Walgreen Co. accused of selling patient data
A lawsuit filed in California this week accuses national drug-store chain Walgreen Co. of unlawfully selling medical information gleaned from patient prescriptions, another front in the battle over personal information.
Unlike suits that focus on patient privacy, the plaintiffs accuse Walgreen Co. of depriving them of the commercial value of their own prescription information. Get the full story »
March 11 at 4:42 p.m.
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Filed under: Airlines, Airports, International, Transportation, Travel, Updated United, Delta, American cancel most Japan flights
The three largest U.S. carriers scrambled Friday to ensure that employees in Japan were safe as they re-routed passengers and aircraft bound for the earthquake-stricken country.
United, Delta and American airlines canceled many, but not all, flights to Japan Friday and offered to waive booking fees for those who opted to cancel or reschedule travel there as the country recovers from one of the largest earthquakes on record. Get the full story »
Nevada agency aims ad at Chicago business owners
The Nevada Development Authority is asking Chicago business owners to consider relocating to their state.
The agency is airing ads on Chicago television stations promoting Nevada’s warm weather and “pro-business conditions,” and referring to Illinois’ increases in income and corporate taxes.
“Nevada is a great place to live and has the best business climate in the country,” Nevada Development Agency President and Chief Executive Officer Somer Hollingsworth said in a statement. Get the full story »
Grainger sales rise 11% in February
W.W. Grainger Inc., a supplier of industrial maintenance and safety products, said Friday that daily sales in February rose 11 percent compared with a year ago. Get the full story »
Adidas, Nike tee up for Fortune golf unit
Initial takeover offers for Fortune Brands’ golf unit are expected to be submitted today by a range of bidders, including Adidas AG, Nike Inc and private equity firms, sources familiar with the situation said on Friday.
Fortune Brands said in December it would split off its golf and home products units under pressure from activist investor William Ackman.
Sahara, ‘Rat Pack’ haunt on Vegas Strip, to close
The Sahara hotel-casino, a Rat Pack-era jewel of the Las Vegas Strip that age and a prolonged recession had tarnished, will close in May, owner SBE Entertainment announced Friday.
Chief Executive Sam Nazarian, the Los Angeles nightclub impresario who bought the Moroccan-themed casino in 2007 and vowed to restore its hipness, said in a statement that running the property was “no longer economically viable.” Get the full story »
Allstate ‘Mayhem’ ads win top ADDY award
One of Allstate’s “mayhem” ads.
Allstate’s “mayhem” ad campaign won “Best of Show” at the Chicago ADDY awards Thursday night, the first such awards given out here in about a decade.
In the mayhem campaign, actor Dean Winters portrays all of the obstacles that unlikely events that can lead to a major insurance claim, like a team pennant tearing loose from a pick-up truck, a distracted teen mowing the lawn or a Christmas tree falling on your car’s roof during a rainstorm. Get the full story »
Oil prices sliding back toward $100 a barrel
Oil prices fell Friday, briefly slipping below $100-a-barrel level, after a massive earthquake and tsunami struck Japan.
The main U.S. oil contract, West Texas Intermediate, for April delivery dropped $1.54 to settle at $101.16 a barrel. Earlier, prices hit a low of $99.01. Get the full story »
Boeing says Dreamliner still on for 3Q delivery
Boeing Co. is on track to deliver the long-delayed 787 Dreamliner to its first customer in the third quarter, the head of the 787 program said Friday.
Speaking to reporters at Boeing’s San Antonio site, Scott Fancher said he could not attribute any canceled 787 orders to delays that have put the program nearly three years behind schedule. Get the full story »
Fed’s Dudley sees little chance for policy shift
A top Federal Reserve official reiterated Friday that improving economic growth will not deter the central bank from following through to its end a $600 billion bond buying program, as he faced an audience skeptical the Fed has a handle on the economy’s true inflation dynamics.
“We provided additional monetary policy stimulus via the asset purchase program to help ensure that the recovery regained momentum,” Federal Reserve Bank of New York President William Dudley said. “A stronger recovery with more rapid progress toward our dual mandate objectives is what we have been seeking. This is welcome and not a reason to reverse course” on policy, he said. Get the full story »
Ulta stock soars on strong 4Q profits
Shares in Ulta Salon Cosmetics & Fragrance Inc. jumped more than 10 percent, to $46.47, in early afternoon trading Friday on the New York Stock Exchange.
Late Thursday, the company reported that its fiscal fourth-quarter profit rose 49 percent and core results topped its upbeat expectations amid continued strength in same-store sales.
The company also forecast current-quarter earnings that beat the average estimate of analysts polled by Thomson Reuters
Banks to get stress test details next week
Europe’s banks will be given details of this year’s health check of the industry next week, potentially including the capital level needed to pass, people familiar with the matter said on Friday. Get the full story »
Adams Street invests in website SnagAJob
Chicago-based Adams Street Partners, which manages more than $20 billion in private equity for institutions, is making its second investment in SnagAJob.com.
The Richmond, Va.-based online site for hourly workers said it has secured an additional $27 million in private equity funding that includes Adams Street, which also participated in an earlier $14 million round of fundraising for the company. Get the full story »
