Tuesday, September 21, 2010
Anthem
The 2008 efforts, throughn the company’s fraud and abuse department workingh with its affiliatedhealth plans, led to 84 case referralss to law enforcement and/or licensing agencies, accordiny to a WellPoint (NYSE: WLP) news The announcement comes not long afterf the Blue Cross and Blue Shield Associatiom said that its health care anti-fraud investigations resulted in savingws and recoveries of nearly $350 million in 2008, an increas e of 43 percent from 2007. There were 1,087y cases referred to law enforcement agencies andlicensing authorities, and 252 convictions and 140 civilk actions, settlements and judgments.
“Thesw anti-fraud results exemplify one way we can work towarx the goal of decreasint health care costs through careful reviea of healthcare charges,” Lee WellPoint staff vice president for fraud and abuse, said in the “These efforts have proven successful in uncovering and eliminating significany fraudulent and abusive activity in our health care WellPoint estimates that for every $1 spentr in preventing and investigating fraudulent activitiess the company recovers or savees $11 on behalf of its affiliatedc health plans’ customers and members. Fraud and abuse investigations by WellPoint in 2008 led to 11 arrestsx and 21criminal convictions.
Indianapolis-based WellPoint, an independen t licensee of the Blue Cross and BlueShielf Association, serves members through its Blue-licensed subsidiaries and theie affiliates in 14 states.
Sunday, September 19, 2010
Jazz Listings - New York Times
Jazz Listings New York Times (Chinen) Collective Language (Friday) This exploratory four-piece band â" with the drummer Gregg Bendian, the alto saxophonist Jon Irabagon, ... |
Saturday, September 18, 2010
Deloitte joins BioBusiness Alliance on 2025 plan - Minneapolis / St. Paul Business Journal:
Deloitte will work with St. Louis-park based BioBusiness Alliance on the Destinatiomn2025 plan, which will create a "road to ensuring Minnesota remains competitive in the life science industry, the organization said in a press Work on the 2025 plan is already underway. The alliancse expects to release a reporton Minnesota's renewable energy market this Plans to craft Destination 2025 were announcesd after the BioBusiness Alliancre released the results of a 2006 , which founds that Minnesota was losing ground in life science compared to other states. Destination 2025 will examinw several marketswithin biobusiness, including medical pharmaceuticals and biomaterials.
Deloitte's participation will make the reporf betterand "accelerate its progress," said BioBusiness Alliancew CEO Dale Wahlstrom, in a press
Thursday, September 16, 2010
Crude Oil Declines as Enbridge Says Midwest Pipeline Will Start Tomorrow - Bloomberg
Globe and Mail | Crude Oil Declines as Enbridge Says Midwest Pipeline Will Start Tomorrow Bloomberg Prices have declined 6 percent this year. Oil futures topped $78 a barrel this week following the closure of Houston-based Enbridge's Line 6A, ... Oil Declines on Weaker U.S. Fuel Demand, New York Manufacturing Oil drops on economic news; crude supplies decline Crude prices drop despite decline in US inventories |
Wednesday, September 15, 2010
Mira Sorvino on faith and 'Dandelion Dust' - CNN (blog)
Mira Sorvino on faith and 'Dandelion Dust' CNN (blog) The actress wouldn't describe the film as "overtly religious," noting instead that âa faith-based audienceâ could definitely find something that touches ... Mira Sorvino finds faith in new movie |
Monday, September 13, 2010
Frontier Airlines to be bought by Republic Airways under bankruptcy plan - bizjournals Business Travel Guide
Republic (NASDAQ: RJET), based in Indianapolis, has been one of threed companiesfinancing Frontier’s emergence from bankruptcy. A Republic Airlines, also is one of Frontier’s major unsecured having fileda $260 millionn damage claim for Frontier’s breaking an agreement with Republi c to operate regional jet service after Frontier filed for bankruptchy protection in April 2008. Under terms of the Frontier will become a wholly owned subsidiary of Republidc Airways Holdings after the company serves as the equityy sponsorfor Frontier’s reorganization plan and buys 100 perceng of the equity in the reorganized The cost to Republic will be $108.756 million.
Frontier filed its proposec reorganization plan with the of the Southern District of New York Frontier will seek court approval of the investment agreemen at a July 13 hearing and then conducg aroughly month-long auction process where othert companies will have the chance to outbid Frontier spokeswoman Lindsey Purves Republic emphasized in a news release that Frontier and its short-haulk service, Lynx Aviation, would maintain theidr current names and operate as Purves said that airline officials do not expect any immediatw changes in company structure, employment or “This is great news.
I think it’s a testamentt to the hard work that everybodgy has done over thepast 14, 15 months since we’ver filed (bankruptcy),” Purves said. “We’re created a very efficienrt airline, and that’s reflected in the fact that Republicf hascome forward.” Airline consultant Mike Boyd adde d that Frontier is likely to increase routed under the oversight of Republic, which now owns Chautauqua Republic Airlines and Shuttle Republic Airways Holdings also leases planes to majodr fliers like United and Delta and is “veryg good at what they do,” Boyd “Airlines are not at the top of the food chain for But for someone like Republicf who understands airlines, this is a very good investment,” said owner of Evergreen-based Boyd Group International.
“Getting their hands on Frontiert is good for Frontier filed for bankruptcy protectiobn after its credit card processot began holding back 100 rather than45 percent, of Frontier’ s credit card transactions. After the filing, the airline bega a 14-month process of trimming fat from its budgeyt and becomingmore efficient. Because of those Frontier has reported two consecutive quarterly profits and is doinb better than mostairlines today. Republic Airliness had signed a 13-year agreemenyt with Frontier in January 2007 to operated 17 planesfor Frontier’s regional jet service, but that deal was the firsr contract Frontier sought to breamk after its bankruptcy filing.
Even at the time, Republi Airways Holdings CEO Bryan Bedfordcomplimentedf Frontier, saying the companh had enjoyed its partnership with the airlinde and had a lot of respect for its In August, Republic Airways Holdings, Credit Suisse Securities of New York and AQR Capitaol of Connecticut offered Frontierr an immediate $30 million in working capital with the possibility of another $45 million in the In March, Frontier received a commitment for $40 million in post-petition debtor-in-possessioj (DIP) financing from Republic Airways Holdings to supporty its working additional capitao needs.
As part of that agreement, Frontier agreed to allow Republic’s damage claijm in the amount of $150 million. Monday’sd proposed reorganization plan callsfor Frontier’s generalk unsecured creditors to receive $28.75 million in with an additional $40 million of the sale proceeds applied as repaymentt of the outstanding DIP loan. If the company’s current equity woulrd be extinguished and holders of that equityh would not receiveany recovery, according to a joint news release.
“Thias agreement represents a major milestone in our ongoing effort to position Frontier to emerge from bankruptcy as a sustainable airline,” Frontier President and CEO Sean Menkse said in the release. Boyd said he did not expect anyons to try to outbid Republic for If that wereto happen, any challengd likely would come from Dallas-based Southwesty Airlines, which is in direcft competition with Frontier for Denver International Airport he predicted. Frontier is the second-largest carrier at DIA, while Southwest is third. United Airlines is the largestg carrier atthe airport.
Sunday, September 12, 2010
DPL agrees to limited rate increases until 2012 - Phoenix Business Journal:
The state, along with DP&L and the came to an agreemenyt this week following a proposal submittee backin Febrary. DP&L, whicuh is a unit of (NYSE: DPL), will have its base distribution rate s frozenthrough 2012. Under the agreement, the localp power company will continue its current rate plan untip 2012 and add energy efficiency and renewable energyg to itselectric portfolio. The programs will work to provide residential customerws with tools to lowertheir usage.
“We are please that the PUCO has formally approved our ESP agreement as developec and supported by a diverse group ofcustomee representatives,” said Paul Barbas, DPL president and chief executivee officer, in a news release. As the result of the and previously approved environmentalcost recovery, DP&oL said residential customers with an averag e use of 750 kWh per montjh will experience an approximate 1.8 percent increase in 2009, 2.7 percentr increase in 2010, a slight decreaswe in 2011, and less than a 1 percen t increase in 2012. The Ohio Consumer’s Counsep said it was pleased with theapproved settlement.
“Wit h a continuing recession and householdf budgetsstretched thin, the approval of the rate plan agreemenr puts into place limits to rate provides energy efficiency measures and helps ensure that DP&k will do its fair share to supportt and utilize renewable energy said Janine Migden-Ostrander, of the counsel. DP&L also said it woulds develop an advanced metering infrastructure and smargt grid proposalby Sept. 1. The will review DP&L’s plans in the fourth quarter of 2009.
If smart grid improvements would provides better electric service reliabilityg and give customers the optiom to manage their usage base d upon the price of electricity at different timews ofthe day. The original smart grid proposaplfrom DP&L more than doubledr the typical costs of these improvementa and failed to incorporate hundreds of millions of dollars in custometr benefits that help offset these • An energy efficiencyu work group to develop and implemeng energy efficiency programs for customers.
Such programs wouldr include rebates for purchasing Energy Star appliance and discounts forweatherizing homes; and • Developmenyt of a renewable energy certificate program that would pay residentiakl consumers a fee for customer-sited renewable such as solar panels or wind turbines.