Mother Dies Amid Abuses in $110 Billion U.S. Stent Assembly Line; hospitals paid millions in kickbacks to induce doctors to keep up the pace in U.S. medicine’s binge on stents

Mother Dies Amid Abuses in $110 Billion U.S. Stent Assembly Line

Najam Azmat snaked a catheter on a guide wire into Judi Gary’s groin as he tried to insert a stent in an artery supplying blood to her pelvis and right leg. On an X-ray monitor near where Gary lay, nurses saw blood leakages. The wire seemed to be in the wrong place, nurse Evan Gourley told Azmat. Everything was fine, the vascular surgeon replied. It wasn’t. Azmat tore Gary’s aorta during the December 2005 procedure, according to documents filed with a U.S. Justice Department civil complaint. Nurses asked another surgeon to step in. Gourley left in disgust. Later, he went to administrators at Satilla Regional Medical Center in Waycross, Georgia, with a warning about Azmat. “I told them that he will kill a patient if they let him continue to work,” Gourley said. Officials at the Satilla hospital got at least seven similar warnings about Azmat, according to another nurse’s notes. They let him continue. One of his next patients died. Azmat’s tenure at the 231-bed hospital, as described in interviews and more than 1,000 pages of medical records, internal documents and witness statements that were made public last year, shows the extremes one hospital went to in order to keep its catheterization clinic — or “cath lab” — operating and producing revenue. Other hospitals paid millions in kickbacks — using ghost jobs, padded fees, debt forgiveness or discounted office space — to induce doctors to keep up the pace in U.S. medicine’s binge on stents, according to allegations made in five federal cases and three other private whistle-blower lawsuits. Read more of this post

European Billionaires Surface Holding Stakes in Family Companies

European Billionaires Surface Holding Stakes in Family Companies

A bull market for luxury goods and rising demand for construction equipment and laboratory services has minted three new European billionaires who hold stakes in family-controlled businesses. The fortunes of Marina Giori-Swarovski, an heiress to the Swarovski crystal fortune; Mark Bamford, the youngest son of the founder of U.K. backhoe maker JCB Service; and Gilles Martin, who controls French food and drug tester Eurofins Scientific, have each surpassed $1 billion this year, according to data compiled by Bloomberg. None have been cited individually as billionaires on an international wealth ranking. Read more of this post

Hong Kong Raises Haircut On Treasury Bill Collateral Over Debt Default Fears

Hong Kong Raises Haircut On Treasury Bill Collateral Over Debt Default Fears

Tyler Durden on 10/10/2013 07:44 -0400

While there is hope that DC will engage in its favorite, can-kicking activity any minute and if not resolve then at least push back the funding and debt ceiling stalemate by a few weeks, the reality is that without a deal in seven days, there may be no cash to pay down maturing Bills starting with the October 17 issue whose yield soared to nearly 50 bps yesterday. The reason for the capitulation as was revealed yesterday, is that various money market funds such as Fidelity’s have been selling all paper around the X-Date. This morning the contagion surrounding the use of Bills as collateral has crossed the Pacific, following news that the “Hong Kong’s futures and options market operator will require traders to put up more collateral when using some Treasury bills to back their positions, citing concern that the U.S. is at risk of a default.” In other words, as we forecast on Monday, the debt-ceiling confusion in cash-land has now openly engulfed the repo market, which only makes the states of a debt deal that much higher. Because if the repo, $2.5 trillion money market, and subsequently, the entire $80 or so trillion custodian market freeze up, what happens next will make Lehman seem like a quiet walk in the park. Read more of this post

Google Earth Saves Kenyan Elephants With Drones in Maasai Mara

Google Earth Saves Kenyan Elephants With Drones in Maasai Mara

Standing in his flatbed truck, Marc Goss touches “take off” on his iPad 3 and a $300 AR Drone whirs into the air as his latest weapon to fight elephant poachers around Kenya’s Maasai Mara National Reserve. “It’s an arms race,” said Goss, whose green khaki clothing shields him from thorny acacia branches in the 30,000 hectares (74,132 acres) of savanna he protects. “We’re seeing larger numbers of poachers.” Read more of this post

Password or fingerprint? 53 percent of Americans said they would be willing to replace their passwords with fingerprint scans

PayPal study finds consumers okay with biometrics

By Hayley Tsukayama, Published: October 9

Apple’s newest iPhone may have spurred some debate over whether it’s a good idea to unlock your phone with your fingerprint, but a new study from PayPal finds that a majority of Americans are comfortable with the idea of using their biometric information instead of the pesky passwords that are currently the norm. The survey, sponsored by PayPal and the National Cyber Security Alliance, found that 53 percent of Americans are “comfortable” replacing passwords with fingerprints, 45 percent would opt for a retinal scan, and 41 percent are comfortable with photo identification. Read more of this post

Tongyang chief, wife on travel ban for alleged fraud and breach of trust

Tongyang chief, wife on travel ban

Oct 10,2013


A woman cries at a rally protesting the financial regulator’s lax oversight of the Tongyang Group’s sales of commercial paper and bonds yesterday at the Financial Supervisory Service in Yeouido, western Seoul.

Prosecutors Tuesday prohibited Tongyang Group Chairman Hyun Jae-hyun and Tongyang Securities CEO Chung Jin-seok from leaving the country, a day after the Citizens’ Coalition of Economic Justice, a civic group, filed a complaint against them for alleged fraud and breach of trust. Hyun’s wife, group vice chairwoman Lee Hae-kyung, and Tongyang Networks CEO Kim Chul are also forbidden from going overseas. Hyun and Lee, daughter of group founder Lee Yang-koo, as well as senior executives at the group, are suspected of selling high-risk bonds to individual investors until just before the financial collapse of five affiliates that filed for court receivership last week.  Read more of this post

Dilbert Creator Scott Adams Presents His 10 Favorite Strips

Dilbert Creator Scott Adams Presents His 10 Favorite Strips

JENNA GOUDREAU OCT. 9, 2013, 6:12 PM 14,194 12

Dilbert, the well-known comic strip by cartoonist Scott Adams about the office everyman and his crew of incompetent colleagues, was the first syndicated comic that focused primarily on the workplace when it launched in 1989. Five years later, it had become so successful that Adams quit his corporate career to work on it full-time.  It wasn’t a straight line to success. Early versions of the comic were rejected by several publications, including The New Yorker and Playboy. It wasn’t until an editor at United Media saw it and recognized her own husband in the character that it finally got its start, says Adams in his upcoming book “How to Fail at Almost Everything and Still Win Big.” Ever since, the comic has explored topics like the inefficiency of meetings, the uselessness of management, and the absurdity of office politics. Exclusively for Business Insider, Adams looked through the archives and shared his 10 favorite Dilbert comics. Below, he explains why he chose each and counts them down to his absolute favorite of all-time.

10) Oct. 10, 2009: “Dream job”

dream job

Courtesy of Scott Adams

“This comic causes the reader to imagine a funny future in which Wally will only pretend to do the assignment. Humor sometimes works best when one suggests what is coming without showing it. People laugh harder when they need to use their imaginations to complete the joke. “I also like comics in which characters are unusually happy about something trivial, evil, or selfish. That juxtaposition is always funny to me. “Another technique I often use involves characters saying things that should only be thought. That creates the inappropriateness that gives it an edge.” Read more of this post

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