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Pastimes : Rage Against the Machine

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To: Thomas M. who started this subject	5/29/2002 10:25:26 AM
From: James Calladine	of 1296

ANOTHER DAY IN THE MARKETS (from Briefing) 7:25AM HAL falls $1.25 pts on SEC investigation : 7:20AM New drugs are rarely new-- NYT : The New York Times reports that two-thirds of the drugs approved from 1989-2000 were modified versions of existing drugs or even identical to those already on the mkt, rather than truly new medicines, according to a new study. "This is more evidence that the pharmaceutical co's are turning more into marketing companies," the author of the report said. 7:16AM Halliburton: SEC initiates preliminary investigation (HAL) 19.35: Receives notification from the SEC that it has initiated a preliminary investigation of the co's accounting treatment of cost overruns on construction jobs. HAL expects to receive a formal request for documents or a subpoena in the next few days. HAL believes that this investigation results from an article in the NY Times on May 22, in which certain allegations were reported concerning its accounting treatment of construction job claims and change orders which are negotiated with customers. 7:13AM SBC to pay fine to FCC for false info-- WSJ (SBC) 35.38: The Wall Street Journal reports that SBC agreed to pay a record $3.6 mln for submitting false info to federal regulators deciding whether to allow the co to sell long-distance phone service in several states; the settlement with the FCC resolves 2 longstanding investigations concerning false statements SBC had submitted about different aspects of its back-office systems. 7:10AM Healthsouth civil suit now includes Justice Dept-- WSJ (HRC) 14.08: The Wall Street Journal reports that the Justice Dept joined a civil lawsuit against HRC, alleging the co defrauded Medicare and other govt programs in part by submitting false claims for physical-therapy services by "unqualified personnel" at its outpatient clinics

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