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Archive for the ‘3’ Category

The Chronicle of Philanthropy reported Monday that Microsoft co-founder Paul Allen was the third most generous donor in America last year, and the most generous one still alive.

This is Allen’s 10th year on the list. Only two donors have made the list more times: software billionaire Larry Ellison, and Eli and Edythe L. Broad, whose background is in finance and real estate.

Last year, Allen committed $372.6 million to a variety of foundations, including $295 million to his own Paul G. Allen Family Foundation, which supports the arts, culture, education and social service programs…

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  • Colorado House Republicans vowed to help businesses create jobs by cutting regulation this legislative session. And on Monday, they proved their commitment to that tenet by killing a professional licensing bill that was brought by one of the members of their own caucus.

    The House Agriculture, Livestock and Natural Resources Committee voted 7-5 against House Bill 1060, which would have created a voluntary licensing program for dietitians. The vote, which was largely along party lines, came as proponents and opponents gave differing views on what the measure would mean for jobs…

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  • Microsoft ranks No. 4 on a list of the top stocks owned by members of Congress, according to a report by The Center for Responsive Politics.

    Stock ownership by members of Congress has been an issue recently after several media reports that were critical of what some viewed as politicians capitalizing on inside information about the financial crisis, including a featured report on CBS news program “60 Minutes.”

    On Thursday the U.S. Senate approved a bill that prohibits legislators and their family members, as well as staffers, from trading stocks if they have non-public information…

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  • A June 5 ballot initiative designed to boost the tax on cigarettes by $1 a pack could create 12,000 new permanent jobs right away and add nearly $2 billion in economic activity in the Golden State annually, according to a new study by UC San Francisco.

    The positive impacts would come, UCSF says, because “Californians would smoke less and spend their money in other ways.”

    Roughly 4 dollars in every 5 spent on cigarettes goes to out-of-state manufacturers and farmers, since no tobacco is grown here and no cigarettes are made here…

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  • Longtime Genomic Health Inc. executive Randy Scott is leaving the company — sort of.

    Scott, most recently executive chairman of Genomic Health (NASDAQ: GHDX), will become CEO of a wholly-owned Genomic Health subsidiary that will focus on medical applications of the human genome. He will continue to serve on the board of the Redwood City-based cancer diagnostic test developer.

    Genomic Health initially will fund the company with $20 million over two years. The company will be established March 1 and provide its first commercial service in 2013, according to a Genomic Health press release…

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  • Five Prime Therapeutics Inc. made Lewis Williams, M.D., president and CEO, thus confirming him in a job he’s held temporarily since August.

    Williams, who started Five Prime, worked in the past at Chiron Corp. and at the University of California, San Francisco. He was also on the faculty at Harvard Medical School and was a staff cardiologist at Massachusetts General Hospital.

    He’s been temporary CEO of Five Prime since Julia Gregory quit as CEO last summer. Gregory herself had replaced CEO Gail Maderis in 2009…

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  • Coventry Health Care Inc. has extended CEO Allen Wise’s contract for two years, securing his services through Dec. 31, 2013, and boosting his compensation to new heights.

    Effective Jan. 1, Wise earns $900,000 in base salary annually and will be eligible for up to $1.8 million in bonuses each year, according to a Securities and Exchange Commission filing made public Monday. Furthermore, Wise will receive $7.6 million worth of stock awards in both 2012 and 2013 that would become payable upon the the health insurer’s reaching earnings-per-share and revenue targets…

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  • Cardica Inc., which makes surgical devices, lost $3.2 million in the December quarter, its second, and borrowed $2 million from Century Medical Inc. on Dec. 27.

    Redwood City-based Cardica (NASDAQ: CRDC) had an earlier secured debt deal with Japan’s Century Medical, an arrangement with $2 million left on it. Cardica made a distribution deal with Century Medical in September, and had already borrowed $2 million on the $4 million total allowed in the debt agreement.

    In the second quarter, Cardica lost $3…

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  • Lincare Holdings Inc. reported net income for 2011 of $177.3 million, or $1.93 a share, compared to net income of $181.6 million, or $1.87 a share, in 2010.

    Although profit dropped, earnings per share increased in 2011 because Lincare had about 10.2 million fewer shares outstanding as of Dec. 31.

    Revenue for 2011 was $1.85 billion, a 10.7 percent increase over revenue of $1.7 billion in 2010, a statement from the company said.

    For the fourth quarter of 2011, Lincare reported net income of $44…

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  • Parkland Memorial Hospital’s board released a statement today calling the results of an outside safety monitor’s report “humbling” but refused to release the findings.

    “While Parkland can be proud of our many accomplishments, the report makes it clear that we have not consistently delivered on our commitment to safety and accountability,” said a statement read by Dr. Lauren McDonald, chairwoman of the Parkland Board of Managers. “We must change. We have begun, and we will continue.”

    The statement said the board weighed the duty to be open with the public against the duty to protect the rights of patients and Parkland as an institution and decided not to release the report…

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