Patient care not as good at for-profit nursing homes, analysis shows

For-profit nursing homes are more likely to provide worse care than their nonprofit rivals, according to a USA TODAY analysis of the government’s first ranking of nearly 16,000 nursing homes.
The new Zagat-like rating system, released Thursday by the Centers for Medicare & Medicaid Services, assigns homes one to five stars for their quality, staffing and health inspections, plus an overall score.
The scores reflect tens of thousands of inspection Read the rest of this entry »

December 27, 2008 | , , , , , , ,
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Ira Millstein’s Opinion Helped Steer Yeshiva’s Money to Madoff

Dec. 31 (Bloomberg) -- A legal opinion from
, a corporate-governance specialist for four decades,
helped set the stage for
’s millions of dollars
in losses in the Madoff scandal.
Millstein, a senior partner of Weil, Gotshal & Manges, said
in a letter seen by Bloomberg News that Yeshiva had “followed
procedures adequate to prevent either the appearance or the
reality of a conflict of interest.” The September 2000 opinion
cleared financier
Read the rest of this entry »

December 26, 2008 | , , , , , ,
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Los Angeles-area small-business lender receives cash infusion

The Merrill Lynch funds are meant for microloans of $5,000 to $50,000, he said. Half the $1 million has already been tapped for loans. Merrill Lynch also gave the center a $50,000 grant to create a streamlined, computer-based loan approval process it hopes other microlenders can copy. The money will also pay for a new loan officer in the center's downtown L.A. office.
In addition to running its own loan funds, which are often set up by banks or Read the rest of this entry »

December 22, 2008 | , , , , , , ,
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Online court records a lucrative business

FAIRHOPE, Ala. — Today marks the end of the non-bid contract between the Alabama Administrative Office of Courts and the Mobile-based company that provides technical support for electronic access to public court records in Alabama.
“We are currently negotiating a renewal contract with (On Line Information Services Inc.),” said Griffin Sikes Jr., AOC’s legal division director in Montgomery. “They are a private contractor which, working Read the rest of this entry »

December 19, 2008 | , , , ,
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Cal Poly alum markets environmentally friendly shirts

Freshly out of Cal Poly in 2003 with a degree in business finance, Peter Imai faced a challenge familiar to many new alumni upon entering the job market: how was he going to put his new credential to work?
“Like many people, I wasn’t sure what I wanted to do,” said Imai. “I didn’t want a corporate finance job, and I found that entrepreneurial work was more my thing.”
After a few years in real estate, Imai joined Read the rest of this entry »

December 12, 2008 | , , , , ,
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Strategists See 17% S&P 500 Rise After Saying ‘Buy’

Jan. 5 (Bloomberg) -- The same Wall Street strategists who
told investors to buy stocks in the
since 1937 are
even more bullish than a year ago, predicting the Standard &
Poor’s 500 Index will rise 17 percent.
UBS AG, JPMorgan Chase & Co. and Deutsche Bank AG say the
Federal Reserve’s decision to cut interest rates to as low as
zero percent will help revive the U.S. economy and drive
investors back to equities. Cheaper fuel prices and more Read the rest of this entry »

December 12, 2008 | , , ,
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Daily Stock Market Commentary

Stock Market: investors are seriously concerned about the economic outlook.
Bond quality spreads are Bearish. LQD/TLT Relative Strength Ratio fell to multi-year new lows on 12/19/08. This implies that Bond investors are seriously concerned about the economic outlook.
Stocks appear vulnerable to renewed decline.
The stock price recovery/consolidation since the low of 11/21/08 appears to be taking the shape of a potential Bearish Rising Wedge Read the rest of this entry »

December 11, 2008 | , , ,
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UPDATE 1-Costco quarterly profit up slightly

* Q1 adjusted EPS $0.65 vs analysts' view $0.62
* Q1 same-store sales up 1 pct
(Adds details, background in paragraphs 5-9)
NEW YORK, Dec 11 (Reuters) - Costco Wholesale Corp's
(COST.O:
,
,
,
) quarterly profit rose slightly as strong results from
its gasoline stations helped to offset weak consumer demand for
all but the most essential household items.
Net income rose to $262.5 million, or 60 cents per share,
for the fiscal first quarter Read the rest of this entry »

December 9, 2008 | , , , ,
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Aaron Rents raises 2009 earnings guidance

is upping its earnings guidance for 2009, saying that demand for furniture and appliance rentals continues to grow in a worsening economy.
Atlanta-based Aaron Rents (NYSE: RNT) said Monday it is boosting its profits prediction to $1.70 to $1.85 per diluted share from $1.65 to $1.80.
Robert C. Loudermilk, Jr., president and chief executive officer of Aaron Rents said in a statement that the company’s results “continue to be strong with Read the rest of this entry »

December 7, 2008 | , , , , ,
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ProLogis Soars After Selling China Properties to Singapore

The biggest gainer on the New York Stock Exchange this morning, up 29%, or $3, at $13.50, is ProLogis (
), the $3.44 billion Denver-based REIT that focuses on warehouse properties,
that it will sell its operations in China and property fund interests in Japan, to affiliates of GIC Real Estate (GIC RE), the Singapore Government’s Investment Corporation, for $1.3 billion in cash. The company has been striving to cut debt by about $2 billion with Read the rest of this entry »

December 6, 2008 | , , , , , ,
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