Posted by Nicholas Adams on Jul 21, 2011
The European Central Bank (ECB) said today that it may be necessary to allow Greece to descend into a temporary default in response to the Greek sovereign debt crisis. Sources say that German Chancellor Angela Merkel and French President Nicolas Sarkozy have agreed in principle that private investors should be forced to absorb part of the cost of a second bailout package for Greece.
European leaders are currently attending a summit where it is hoped that lawmakers can stop the debt contagion already infecting several countries from spreading even wider throughout the region.
Banking Tax Ruled Out
French officials have argued in favor of a bank transaction tax that would raise funds that could then be distributed as needed.
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Tags: Default
Posted by Nicholas Adams on Jul 21, 2011
The Greek economic crisis continues to make headlines as Prime Minister George Papandreou attempts to maneuver the governments contentious “austerity” bill through the Greek parliament. As predicted, protests against the government’s plan to deliver nearly 30 billion euros in spending cuts and tax hikes have grown in intensity and the fear is that the debt crisis will not be contained within Greece’s borders. Portugal’s credit rating has been reduced to “junk” status and Europe’s banking system is dangerously exposed to massive amounts of questionable debt. The very future of the Eurozone hangs in the balance.
A Default by Any Other Name
In late June, European Union officials announced they were close to arriving at a solution that would see in excess of 100 billion euros made available to Greece. The plan includ
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Tags: Crisis, Economic Crisis, Greek Economic, Greek Economic Crisis
Posted by Nicholas Adams on Jul 18, 2011
A couple of months ago I observed that many of the Republican presidential contenders were emphasizing their business experience as an asset for turning the economy around. In many ways, though, being chief executive of a company is very different from being chief executive of the United States.
Especially when it comes to jobs.
CATHERINE RAMPELL
Dollars to doughnuts.
Corporate executives want to minimize labor costs, just as they want to minimize the costs of all their production inputs. They also do not hire people because they want to put more people to work; they hire people only if doing so helps the company make more money. Thats what capitalism is about.
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Posted by Nicholas Adams on Jul 18, 2011
WASHINGTON – Overall U.S. healthcare prices in June 2011 mirrored last month’s slow but steady increase, rising 0.1 percent, according to the federal Bureau of Labor Statistics.
According to the BLS’ Producer Price Indices, which measure average changes in selling prices received by domestic producers for their output, prices across the range of healthcare industries were 1.7 percent higher than a year ago.
The PPI translates into actual or expected reimbursement for a sample of treatments or services.
In the May-through-June period, prices received by physician offices remained flat, while hospital prices rose 0.2 percent. The PPI for dentist offices also rose 0.2 percent.
The PPIs of other healthcare sectors were mixed. Pri
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Tags: Healthcare Prices, Rising
Posted by Nicholas Adams on Jul 18, 2011
WASHINGTON – The Centers for Medicare & Medicaid Services announced yesterday proposed standards for the creation of Consumer Operated and Oriented Plans (CO-OPs), new private consumer governed health insurance plans. CMS also announced rules for how CO-OPs can qualify for $3.8 billion in government loans to help start up these insurance plans.
“CO-OPs will provide consumers more choices, greater plan accountability and help ensure a more competitive insurance market,” said Steve Larsen, director of the Center for Consumer Information and Insurance Oversight, in a press release. This “announcement shows how the Affordable Care Act is bringing new choices and giving consumers a voice in insurance markets throughout the nation.”
CO-OPs are designed to increase competition in the insurance market and provide more options for individuals and small businesses looking for affordable health insurance. Their s
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Tags: Plans
Posted by Nicholas Adams on Jul 16, 2011
European leaders will meet July 21st in Brussels to determine the next steps in dealing with the Greek debt crisis and the growing concern over Portugal, Spain, and Italy. In a statement releases yesterday, European Central Bank President Jean-Claude Trichet gave assurances that the Council “can manage the issue” and overcome the growing dilemma.
Trichet also confirmed that bonds issued by any sovereign country that does default can not be used as collateral with the ECB.
“If a country defaults, we can no longer accept as normal eligible collateral defaulted bonds issued by the government of that country,” Trichet said. “Because, in the eyes of the Governing Council, this would impair our ability to be an anchor of confidence and stability.”
Tags: Crisis, Debt Crisis
Posted by Nicholas Adams on Jul 15, 2011
WASHINGTON – Hospitals experience drug shortages on a daily basis, which often lead to delayed patient treatment and increased drug costs, according to a new report released yesterday by the American Hospital Association (AHA).
The AHA’s Survey on Drug Shortages collected responses from 820 chief executive officers of community hospitals. Nearly 100 percent (99.5 percent) of those hospitals reported a shortage of one or more drugs in the first half of this year. Almost half of those hospitals reported shortages of 21 or more drugs and 47 percent reported drug shortages on a daily basis.
Drug shortages are highest for surgery/anesthesia treatment (95 percent), followed by emergency care (91 percent) and cardiovascular treatment (90 percent).
Delayed treatment as a result of drug shortages was reported by 83 percent of hospitals, with 69 percent saying that patients received a less effective drug in replacement. Six
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Tags: Drug Shortages, Hospitals
