Word: lawsuit
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...Blue Cross of Southern California, which dispatched Greaves, a vice president, to run the company. In his first year Health Net made $17,000; the next, $17 million. It was so prosperous that Blue Cross in 1984 tried to seize its bank accounts, forcing Greaves to file a lawsuit in which he proved the company was a free-standing satellite...
Roger Greaves, Health Net's chief executive, was fighting a battle of his own against what he calls the "cancer" of a tactical lawsuit. His company had drawn the attention of Dr. Malik M. Hasan, founder and chief executive officer of QualMed, a Pueblo, Colorado, managed-care company that owned an HMO that competed against Health Net in Northern California. To best grasp Hasan's delight in bold business maneuvers, one need only know that as a young medical student in Pakistan in the late 1950s he made roughly $10 million selling land along the anticipated rights...
...foundation and fund it with an amount equal to the company's fair market value--a way of paying back the state for all the taxes the company had avoided as a nonprofit. Conversion would pave the way for going public. In a tactical maneuver, Dr. Hasan filed a lawsuit to block the conversion, charging that Greaves had undervalued the company's net worth and cheated the people of California. After all, Dr. Hasan himself was willing to bid far more...
...primary motivation was to force Greaves into a merger, but second, if Greaves still refused, to force Health Net to pay far more into its shadow foundation and thereby reduce the capital it could deploy against QualMed's own California operations. As long as Dr. Hasan pressed the lawsuit, Greaves knew, Health Net had no hope of going public. "It was devastating to us," Greaves says. "My name was in the paper every day as a bad guy, a villain...
WASHINGTON: "This was the canonical 'look and feel' lawsuit," says TIME's Philip Elmer-DeWitt of Tuesday's Supreme Court ruling that denied copyright protection to the "menu command" portion of Lotus' 1-2-3 spreadsheet software. Voting without Justice John Paul Stevens, who earlier excused himself for undisclosed reasons, the court on a divided 4-4 vote upheld without comment a lower court ruling that Borland did not violate copyright laws when it incorporated an almost identical menu command bar into its own Quattro spreadsheet programs because the menu is a "method of operation" which does not qualify...