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...board into rejecting a $36-a-share takeover offer and assumed the post of chairman. Two years later, the company accepted a $70-a-share bid from Eli Lilly & Co. "I felt vindicated," boasted Icahn at the time. Then there was National Energy Group, where he turned a $300 million investment in the company in 2003 into a $1.5 billion payoff when it was sold in 2006, according to Icahn. (See the top 10 bankruptcies...
...Icahn, this isn't his first foray into the casino sector. Between 2000 and 2006, he purchased four casinos - the Stratosphere, Arizona's Charlie's Boulder, Arizona Charlie's Decatur and Aquarius Casinos - for $300 million, and sold them for $1.2 billion in 2008 before the recession unleashed the worst of its fury. (The original price was $1.3 billion, but was adjusted down slightly at closing time.) "That's a pretty good reward for waiting, right?" says Icahn. "Hopefully history will repeat itself...
First, 16 million Americans will be added to the failing government-run Medicaid and Children’s Health Insurance Program rolls. That is, half of the 32 million Americans that the bill’s proponents claim will be covered are dumped into a government-run program that America already cannot afford. While 87 percent of doctors reported accepting all or most new privately insured patients in 2008, only 53 percent of doctors reported accepting all or most new Medicaid patients, because Medicaid reimburses doctors below market rates. What good is Medicaid coverage if a doctor refuses...
...Harvard affiliates and a former member of Massachusetts state government—assumed positions in the top ranks of the Faculty of Arts and Sciences’ financial administration earlier this month. The appointments come as FAS looks to pare down its budget, which still rests $80 million...
...While northern China has been battered by sandstorms this spring, traditionally soggier south China has been battling drought. Premier Wen Jiabao spent the weekend touring drough-stricken villages in Yunnan province, where many areas have received half the usual rainfall. Sixteen million people in the region are now suffering drinking water shortages, according to state media. The Dai ethnic group, which is concentrated near the Burmese border in western Yunnan, has even been encouraged to cut back on the amount of water used during the upcoming Water Splashing Festival it celebrates each year to mark the arrival of spring...