Business News in Brief

Posted: June 30, 2012


Tentative pact at hospital

Representatives of District 1199C of the National Union of Hospital and Health Care Employees said they reached a tentative agreement on a new contract with Hahnemann University Hospital. Talks with Thomas Jefferson University Hospital, the last hospital without a contract, were set to resume Saturday. — Harold Brubaker

Phila. investors in W.Pa. project

American Harness Tracks, the Pittsburgh company hoping to build a racetrack and casino in Lawrence County, is turning to Philadelphia to raise cash to bring the long-delayed Valley View Downs project into being. The two biggest names: insurance executive Manuel Stamatakis, an investor in the failed Philadelphia Foxwoods casino proposal, and Edward Snider, chairman of Comcast Spectacor, which owns the Philadelphia Flyers. Officials from American Harness Tracks disclosed the new investors at Thursday's meeting of the state Harness Racing Commission. — Pittsburgh Post-Gazette

Bucks man indicted in scheme

A Bucks County man has been indicted in a scheme that bilked Medicare of more than $5.4 million. William V. Hlushmanuk, 35, of Churchville, was charged in a 23-count health care fraud indictment that was unsealed by the U.S. Attorney General's Office. Hlushmanuk allegedly started the Starcare Ambulance Co. in 2006 to transport kidney dialysis patients. Because Hlushmanuk had a criminal record that included conviction for burglary, assault and firearms violations, he was ineligible to operate the company under his own name, so he used a straw owner, authorities said. — Sam Wood


Big package for ex-executive

JPMorgan Chase & Co.'s decision to let chief investment officer Ina Drew retire four days after the bank disclosed a $2 billion loss in her division allowed her to walk away with about $21.5 million in stock and options. Drew, who resigned May 14, can keep $17.1 million in unvested restricted shares and about $4.4 million in options that she would have been required to forfeit if the bank had terminated her employment "with cause," according to regulatory filings and estimates from consulting firm Meridian Compensation Partners L.L.C. — Bloomberg News

Toyota extends safety recall

Federal safety regulators said they had asked the company to recall about 154,000 Lexus SUVs because their floor mats can trap the gas pedal and cause the vehicles to speed up without warning. The National Highway Traffic Safety Administration also said it may investigate whether Toyota told the agency about problems quickly enough. The move adds the 2010 model year Lexus RX 350 and RX 450 to safety recalls that date to 2009. — AP

comments powered by Disqus