February, 2009Medtronic Inc., Medical Device Maker Once Accused of Paying Illegal Kickbacks, Agrees to Show How Much it Pays Physicians
Medtronic Inc., a leading maker of heart defibrillators and other medical devices, says it will start keeping track of how much money and other perks it gives to physicians for consulting and other work then make the numbers public.
Continue →Oklahoma Water Wells Test Positive for E. Coli
More than a dozen private water wells in Oklahoma have tested positive for E. coli, the life-threatening bacteria which recently killed a resident of a nearby town, state officials said. So far, 17 wells located on private property have produced water containing the common food-borne bacteria. State environmental quality officials have not identified the E. coli strain found in the wells or confirmed if it is the same strain responsible for a deadly outbreak in 2008. Last summer, E. coli …
Continue →FDA: India’s Largest Drug Company Lied About Test Results for Dozens of Generic Drugs
The Food and Drug Administration says the largest pharmaceutical company in India lied about test results for dozens of generic drugs, prompting a sudden halt to FDA approval review of drugs made by the company.
Continue →Jailed Hedge Fund Manager Nadel Can’t Afford to Post $5 Million Bail
Arthur Nadel, the Florida-based hedge fund manager jailed on charges of securities and wire fraud, does not have the cash to post the $5 million bail set for him, his attorney said. On February 25, 2009, federal court Judge Denise Cote set the bail amount for Nadel and said he could be released from jail in New York City on home detention and other restrictions. However, Nadel’s attorney, Todd Foster, indicated that he did not think his client could come …
Continue →First Available Appointment is Three Weeks Away? California May Require Doctors to See HMO Patients Sooner
In an ambitious and controversial move designed to unclog the state’s crowded emergency rooms, California leaders are considering forcing physicians who treat HMO patients in that state to meet strict deadlines for when those patients must get an appointment to see the doctor.
Continue →Billionaire Stanford Owes $1.2 Million To St. Croix Businesses
Texas tycoon Allen Stanford, the head of a vast financial empire charged with carrying out an $8 billion investment fraud, owes about $1.2 million to various businesses on the Caribbean island of St. Croix, according to public records. Stanford, 58, owns about $34 million worth of property on St. Croix, but those assets are among his personal assets frozen by federal authorities investigating the alleged fraud. Stanford International Bank is accused of ripping off thousands of investors by selling fraudulent …
Continue →Various Toys Recalled by CBB Group Due to Choking Hazard and Violation of Lead Paint Standard
The fishing games, baby rattles and pull-a-long cars contain small parts, which can detach and pose a choking hazard to children. The mini pull back cars and bubble guns have surface paints which contain excessive levels of lead, violating the federal lead paint standard.
Continue →Who’s Minding the Store? Two Stanford Financial Employees Served on Investment Industry Watchdog Board
In a new twist to an ongoing story that is either funny or disturbing (maybe a little of both?), Stanford Financial Group, the Texas-based investment empire under investigation for an $8 billion securities fraud, had two high-ranking employees serving as advisors to the financial-industry watchdog group charged with preventing investment broker abuses.
Continue →V.P. Biden’s Family Marketed Funds Linked to Fallen Billionaire Stanford
Vice President Joe Biden’s son and brother marketed a collection of hedge funds controlled in part by Allen Stanford, the Texas investment tycoon who stands accused of orchestrating an $8 billion investment fraud, according to a new report in the Wall Street Journal. The $50 million Paradigm Stanford Capital Management Core Alternative Fund was packaged between a Stanford Financial Group entity and Paradigm Global Advisors LLC, which is owned through a holding company by the vice president’s son, Hunter Biden, …
Continue →Having Trouble Getting Pregnant? Check Your Shampoo, Clothes, and Other Household Products for Toxic Chemicals
A wide range of common household products, everything from food wrappers, shampoo, and clothing, may contain toxic chemicals that make it harder for some women to get pregnant, according to new medical research on the topic.
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