competitors

On Tuesday, General Motors announced that it will lay off 25,000 workers and close several plants around the country in an effort to contain rising costs. The automaker said high healthcare costs were a major factor in its decision. The company spends about $5 billion per year on health insurance for its current and former workers. GM Chairman and CEO Rick Wagoner noted that healthcare costs add $1,500 to the cost of each vehicle the company makes. "This puts us at a serious disadvantage …

Faced with financial pressures, some hospitals are embracing strategic alliances with local competitors. The Houston Chronicle reports that St. Luke's Episcopal Medical Center in Houston is in talks with several area hospitals about a possible merger. In scenario A, St. Luke's would merge with Hermann Memorial. In scenario B, Texas Children's Hospital and Methodist Hospital would team up to buy St. Luke's. Officials are expected to reach a decision in in the next few …