senate majority leader

Senate Majority Leader Bill Frist (R-Tenn.) owned hundreds of thousands of dollars worth of HCA stock outside of the blind trust created to avoid the appearance of conflict of interest, the Associated Press reports. The news agency has obtained documents which it says show Frist retained control of shares in the company, which his father co-founded through a family partnership maintained by his brother. Ethics experts say that the arrangement allowed Frist effective control of …

Lawyers representing a group of patients pursuing malpractice action against a West Virginia osteopath said HCA is trying to dodge a financial bullet by selling off all of its hospitals in the state to LifePoint Hospitals for $330 million. The group argues that the Nashville-based chain only announced plans to sell the four hospitals involved after it learned that a West Virginia court intended to set aside state malpractice caps in the case, potentially leaving it liable for hundreds of …

The suspicious June trades which led to a formal SEC inquiry into possible rules violations at HCA are part of a pattern at the company, some analysts say. HCA insiders have always had a knack for good timing and understanding "when their company's stock is undervalued and when it isn't." In the late 1990s, executives at the company sold heavily as the value of the company's shares rose, notes insider trading expert Michael Painchaud. It happened again in 2001 and 2002.

The …

Shares in Hospital Corporation of America (HCA) have gained back the 6 percent they lost after news of possible insider trading at the company. On Monday, shares of HCA hit $48 buoyed by news that Senate Majority Leader Bill Frist (R-Tenn.) had produced evidence that appears to clear him of any wrongdoing. The SEC probe into the allegations is ongoing, but Wall Street does not appear particularly concerned. "It's this weird market reaction of, 'OK, fine, they can't be that dumb,'" …

Senate Majority Leader Bill Frist (R-Tenn.) produced evidence which appears to exonerate him of any wrongdoing in the sale of his HCA stock in June. Last week, the SEC announced that it would investigate possible insider trading surrounding trades by Frist and HCA executives. Late Friday, Frist turned over an email which confirms that he began the process of divesting his shares several months earlier.

- see this …

The inquiry into possible insider trading at Nashville-based Hospital Corporation of America (HCA) continued to gain ground on Thursday, as the company announced it has been informed that it is the target of a formal SEC probe. The inquiry, which began life as an investigation into possible conflict of interest surrounding Senate Majority Leader Bill Frist's (R-Tenn.) decision to sell his position in the company, now appears to be focused on other insiders.

Critics said the …

> The highly-regarded liver transplant program at St. Vincent Medical Center in Los Angeles has suspended operations following a scandal in which a Saudi Arabian patient was bumped ahead of other patients. Story

> Senate Majority Leader Bill Frist (R-Tenn.) responded publicly for the first time to criticism of the June sale of his position in family-owned healthcare …

The investigation into Senate Majority Leader Bill Frist's recent sale of shares in healthcare giant HCA is no more than a political witch hunt, argue some observers. "The case is a non-starter that has political appeal," said Jacob Frenkel of Shulman Rogers, a former SEC prosecutor, in an interview in today's USA Today. But not everybody agrees. The Wall Street Journal reports that others are questioning how blind the blind trust shielding Frist's investments …

New York attorney general Elliot Spitzer is believed to have launched an investigation into Senate Majority Leader Bill Frist's sale of his position in HCA in July. The Wall Street Journal reports that the SEC is also looking into charges that Frist acted on insider information when he divested his shares in the company shortly before HCA issued an earnings warning. The Journal quotes "sources close to the investigation" as saying investigators will also look at similar sales by …

> The FDA said it has issued a "not approvable" letter for Pfizer's injectable Cox-2 painkiller Dynastat. The regulator did not provide a cause.  Story

> Senate Majority leader Bill Frist (R-Tenn) recently sold his stake in HCA, the giant hospital chain his family owns. Critics question the timing of the sale.  …