Surge in Malpractice Suits Draws Big Business Attention
New York reports a rising medical malpractice wave that could exceed the early 1970s. Insurance rates surged, some firms exited the field, and doctors and hospitals formed mutual insurers. Hospitals pay two thirds of costs, and 75 percent of lawsuits arise there. Perspective notes a 1979 underwriting loss of about 150 million for big carriers, with 1980 projections suggesting another surge. A New York lawyer estimates 700 lawyers handle such cases in the metro area.
MENTIONED IN THIS ARTICLE
New York
UPI
Blue Cross
Blue Shield
Defensive Medicine and Malpractice Costs Rise in Practice
The piece notes defensive medicine may cost about 10 billion yearly as doctors order costly tests to shield themselves from negligence claims. It cites spectacular 1979 verdicts in California and New York, a 1980 Connecticut hospital judgment, and discusses the Corleto decision expanding hospital administration and staff liability. Author Mulroy warns higher care standards are needed to counter this legal trend.
MENTIONED IN THIS ARTICLE
California
New York
Connecticut Supreme Court
Thomas R. Mulray
Chicago
Inquiry Books
New Jersey
Corleto
Mulroy
Analysts eye record losses for auto firms
Analysts across Wall Street forecast a 1980 industry deficit near 42 billion as Ford Chrysler and GM face heavy fourth quarter losses. GM may post a small quarterly profit while Ford and Chrysler endure sizable deficits. Chrysler may top corporate losses for 1980. American Motors also slated for a loss amid ongoing auto sector turmoil.
MENTIONED IN THIS ARTICLE
Detroit
General Motors Corp
Wall Street
U.S
Ford Motor Co
Chrysler Corp
Arvid Jouppi
John Muir Co
Ford
Jouppi
Chrysler
David Healy
Drexel Burnham Lambert, Inc
BRE
Maryann Keller
Paine Webber Mitchell Hutchins, Inc
American Motors Corp
Carysler
Ms. Keller
Terex Talks Near Strike Deadline for Cleveland-area Plants
With 1650 hourly workers at Brooklyn and Hudson plants and 900 on layoff, Terex negotiators and UAW face a Feb 5 strike deadline. Management seeks costs cuts and productivity improvements, including weekly pay reductions, while UAW Local 1747 chair Phil Watkins says concessions will not be given. If progress occurs, the Feb 6 deadline could extend to Feb 20.
MENTIONED IN THIS ARTICLE
Terex
United Auto Workers
Brooklyn
Hudson
UAW
IBH Holding AG
General Motors
Albert Stauffacher
Phil Watkins
Market Ends Week-Long Skid On Modest Uptick
Market edges up in early trading as the Dow gains 1.11 to 941.30 while advances outpace declines 4 to 3 on NYSE. Analysts cite Friday’s Fed money supply report as a potential positive for markets amid rate uncertainty. oil stocks mixed and Mobil rises 1/2 percent after news of a 2-for-1 stock split proposal.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve
Mobil
Violent crime rate not as bad as it sounds report says
Washington based report from Commerce Department and Census Bureau notes violent crimes aren’t rising significantly in the United States. The Social Indicators HI I study says media coverage fuels public fear while crime rates for violent and household offenses have remained fairly constant in the mid-1970s.
MENTIONED IN THIS ARTICLE
Washington
Written Reprimands Barred From Police Files
A Common Pleas Court judge ruled Elyria Police Department may not reduce reprimands to writing or place them in an officer’s file. Judge Adnan F. Bedeski enjoined the practice, ordered removal and destruction of all such records, and held the process violated department misconduct rules adopted in 1974. The suit was brought by Lt. Gerald F. Conrad alleging specific reprimands dated 1978. The ruling noted written records could affect efficiency ratings.
MENTIONED IN THIS ARTICLE
Elyria
Common Pleas
Adnan F. Bedeski
Gerald F. Conrad
Paul A. Brand
Bedeski
Gasoline use forecast to fall in 1981 by Lundberg
UPI Los Angeles Dan Lundberg of the Lundberg Letter says Americans will use less gasoline in 1981 due to higher prices and eroding real income. He predicts about a 1.3 percent drop, roughly 80,000 barrels per day, noting inflation skews price versus real dollars and that disposable income rose in nominal terms but little in real terms.
MENTIONED IN THIS ARTICLE
Los Angeles
UPI
Dan Lundberg
Lundberg
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Chronicle-Telegram
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Robert Penick
Ronald Hine
Borg-Warner
Ithaca
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York
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Jane
MIA
Greyhound
Tenaco
Texaco
Hanna Min
IBM
Alcoa
Ase Inco Ltd
My Ual Inc
Festero Union
Am Motors
Kellogg
Kennett
T&t
Kroger
Westh Elec
Armco
Val India
Wstvac
Bendix Cp
Nabisco
Ta Cin Gas
Nat Can
Cova Cola
Nat Distill
Pierrer Smith Co Colgate
Nat Steel
Acme Cieve
Col Gas
Norik W
American Machine & Con Edison
Ta Cons NG
Owens CF
American Linp
Consul
Owens
Pan Am Air
Bendix
Curtiss
Cook United
Tm Penn
Dayton
Det Edison
Nis FepsiCo
CPC International Inc
Phila Elec
Emerson
DuPont
le Phat Pet
Extelle
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Polaroid Met Fruehauf
Eastman Kodak
Eaton
Proc & Gam
Data 10 Industries
Evans
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Lear Siegler
Exxon
Firestone
Reynolds Mt
Midland
Ross
Ford Motor
Rockwell
National Gypsum
Sears
Parker Hannifin
Gen Foods
Smucker
Searle
G.d)co
Gen Motors
Sperry
Ste
The
Newletter
Mid-Ohio Securities Corp
We Usm
Cleve
Pee Pvt
CT News
Pels Af Amr Leone Ae Tolgrach Co He
Sre
Ss and Naturaly
Ram Shfgoh
Wye
UMW
Alessio
Lorain
Ohio United Small
Business Association
Holiday Innelyria
CPA
Bowding
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