TheStreet.com, Inc. (Nasdaq: TSCM - News), a leading provider of financial commentary, analysis, research, news and financial ratings, today announced that portfolios on Stockpickr.com, the Company's wholly owned subsidiary, will be assigned an independent letter-grade rating based on an average of the ratings of the individual stocks within the portfolio.
Ratings are assigned to more than 800 professional portfolios and more than 95,000 user- generated portfolios currently housed on Stockpickr.com, allowing individuals to make a direct comparison between the rating of their own portfolio to those of professionals.
"We're looking to provide members of our community with the tools to challenge themselves to become the best investors they can be, in a way that's never been done before," said James Altucher, President of Stockpickr.com. "What better way than to give them the ability to compare the rating of their personal portfolios with that of Warren Buffett -- for example -- on a simple letter grade scale?"
Linked to TheStreet.com Ratings, portfolios within Stockpickr.com are rated with TheStreet.com's proprietary statistical models that use key financial metrics and indicators to rate stocks for an overall quality score.
"Dynamic integration between TheStreet.com Ratings and Stockpickr.com is a terrific example of our focus on delivering fresh, engaging services to our community," added David Morrow, the editor-in-chief of TheStreet.com. "We are taking proprietary tools and combining them in innovative ways to keep our community actively interested in what's going on at our network of Web properties, while at the same time we're providing unique sponsorship opportunities to advertisers."
Stockpickr Ratings joins StockBlogr - the first blog search engine devoted to accessing the top financial blogs on the Internet today, and "Street Answers" - a free question-and-answer search platform for stock and investment ideas, as the third module launched from Stockpickr.com since it was acquired by TheStreet.com in April.
Anyone can create a portfolio and get it rated by visiting: www.stockpickr.com.
About TheStreet.com, Inc.
TheStreet.com, Inc. (Nasdaq: TSCM - News) is a leading multimedia provider of business, investment and ratings content, available through its proprietary properties, which include Web sites, email subscription services, print, radio, syndication and audio and video programming. Founded in 1996, TheStreet.com, Inc. pioneered the electronic publishing of financial information on the Internet. Today, the Company offers proprietary information on stocks, mutual funds, exchange-traded funds (ETFs) and financial institutions, including various insurers; HMOs; Blue Cross Blue Shield plans; banks and savings and loans. The Company's breadth of top-grade services empowers a wide audience of retail and professional investors, by delivering information they can rely upon to make sound, informed financial decisions.
Thursday, August 2, 2007
Thursday, July 26, 2007
CNA Financial lawsuit over severance pay to go on
A U.S. federal judge has denied CNA Financial Corp.'s (CNA.N: Quote, Profile, Research) request to throw out a case brought against it by former employees over severance benefits, according to a written ruling.
U.S. District Judge James Holderman in the Northern District of Illinois declined to throw out two of the three counts pending in the case, saying they must go to trial unless the parties settle, according to the ruling dated Monday.
Holderman, however, dismissed one count and "strongly urged" the two sides to discuss settlement.
Chicago-based CNA, which is mostly owned by New York conglomerate Loews Corp. (LTR.N: Quote, Profile, Research), is one of the largest commercial insurance companies in the United States,
The lawsuit was brought in December 2004 by 90 people who worked for CNA's life business operations unit, according to the ruling.
The plaintiffs worked as sales representatives, selling life insurance, long-term care insurance and annuities. Their positions were eliminated when CNA sold the unit to reinsurer Swiss Re (RUKN.VX: Quote, Profile, Research), according to the ruling.
The plaintiffs, who were fired on April 5, 2004, filed the lawsuit after CNA denied their claims to severance benefits, according to the ruling. (Reporting by Paritosh Bansal)
U.S. District Judge James Holderman in the Northern District of Illinois declined to throw out two of the three counts pending in the case, saying they must go to trial unless the parties settle, according to the ruling dated Monday.
Holderman, however, dismissed one count and "strongly urged" the two sides to discuss settlement.
Chicago-based CNA, which is mostly owned by New York conglomerate Loews Corp. (LTR.N: Quote, Profile, Research), is one of the largest commercial insurance companies in the United States,
The lawsuit was brought in December 2004 by 90 people who worked for CNA's life business operations unit, according to the ruling.
The plaintiffs worked as sales representatives, selling life insurance, long-term care insurance and annuities. Their positions were eliminated when CNA sold the unit to reinsurer Swiss Re (RUKN.VX: Quote, Profile, Research), according to the ruling.
The plaintiffs, who were fired on April 5, 2004, filed the lawsuit after CNA denied their claims to severance benefits, according to the ruling. (Reporting by Paritosh Bansal)
Sunday, July 22, 2007
Centene Corporation Announces Investment in Florida Medicaid Managed Care Company
today announced that it has acquired a minority ownership interest in Access Health Solutions, LLC (Access) based in Sunrise, Florida. Under the terms of the transaction, Centene has an option to acquire the remaining interest in Access at a future date. Centene believes this transaction will lay the foundation for the partnership to deliver high quality healthcare to members while providing an integrated managed care solution tailored to the diverse needs of Medicaid recipients throughout Florida.
Access, currently the third largest Medicaid managed care entity in Florida serving approximately 90,000 members, provides its services under two separate contracts with the State, one as a Minority Physician Network and the other as a Provider Service Network. Under these contracts, the company does not accept full risk for healthcare expenses. Centene has formed Sunshine State Health Plan (Sunshine Health), a wholly-owned subsidiary, and has started the process to have Sunshine Health licensed as a full-risk Medicaid managed care company. Upon receipt of the required licensure, Sunshine Health and Access will collaborate with the Florida Agency for Healthcare Administration (AHCA) and the Access providers to transition the Access members to Sunshine Health. Access possesses a management team of nationally recognized physicians and community leaders with excellent track records in managed care and successful experience in the Florida Medicaid market.
Michael F. Neidorff, Centene's Chairman and Chief Executive Officer, stated, "Access is an established leader in the Florida Medicaid market and we are very fortunate to be working with well respected providers and community leaders such as Dr. Nelson Adams and to align ourselves with an organization that shares our vision for quality healthcare. We are privileged to have Dr. Adams and his team join us to manage our Florida operations. Sunshine Health is committed to build upon the local approach for every market to ensure our healthcare delivery model is carried out by the stakeholders of the communities we serve."
Dr. Nelson L. Adams, Chairman of Access, stated, "We believe that the partnership with Centene will provide Access Health Solutions with the additional resources and expertise necessary to prepare our company for future growth. Centene possesses similar values and objectives as Access Health Solutions including increasing access to quality healthcare, achieving improved health outcomes for beneficiaries, and supporting local communities."
Regarding the partnership with Access, Christopher D. Bowers, Centene's Acting Head, Health Plan Business Unit, stated, "We are very excited about this partnership and what we ultimately view as an opportunity to bring our inclusive Medicaid managed care solution to Florida. We look forward to working with AHCA and the State of Florida to expand their consumer-oriented Medicaid Reform program and demonstrating our commitment to improve health and quality of life for Medicaid recipients in Florida."
Including the start-up costs associated with Sunshine Health, Centene expects this transaction to be neutral to earnings in 2007.
About Centene Corporation
Centene Corporation is a leading multi-line healthcare enterprise that provides programs and related services to individuals receiving benefits under Medicaid, including Supplemental Security Income (SSI) and the State Children's Health Insurance Program (SCHIP). The Company operates health plans in Arizona, Georgia, Indiana, New Jersey, Ohio, Texas and Wisconsin. In addition, the Company contracts with other healthcare and commercial organizations to provide specialty services including behavioral health, health management, long-term care, managed vision, nurse triage, pharmacy benefit management and treatment compliance. Information regarding Centene is available via the Internet at www.centene.com.
Access, currently the third largest Medicaid managed care entity in Florida serving approximately 90,000 members, provides its services under two separate contracts with the State, one as a Minority Physician Network and the other as a Provider Service Network. Under these contracts, the company does not accept full risk for healthcare expenses. Centene has formed Sunshine State Health Plan (Sunshine Health), a wholly-owned subsidiary, and has started the process to have Sunshine Health licensed as a full-risk Medicaid managed care company. Upon receipt of the required licensure, Sunshine Health and Access will collaborate with the Florida Agency for Healthcare Administration (AHCA) and the Access providers to transition the Access members to Sunshine Health. Access possesses a management team of nationally recognized physicians and community leaders with excellent track records in managed care and successful experience in the Florida Medicaid market.
Michael F. Neidorff, Centene's Chairman and Chief Executive Officer, stated, "Access is an established leader in the Florida Medicaid market and we are very fortunate to be working with well respected providers and community leaders such as Dr. Nelson Adams and to align ourselves with an organization that shares our vision for quality healthcare. We are privileged to have Dr. Adams and his team join us to manage our Florida operations. Sunshine Health is committed to build upon the local approach for every market to ensure our healthcare delivery model is carried out by the stakeholders of the communities we serve."
Dr. Nelson L. Adams, Chairman of Access, stated, "We believe that the partnership with Centene will provide Access Health Solutions with the additional resources and expertise necessary to prepare our company for future growth. Centene possesses similar values and objectives as Access Health Solutions including increasing access to quality healthcare, achieving improved health outcomes for beneficiaries, and supporting local communities."
Regarding the partnership with Access, Christopher D. Bowers, Centene's Acting Head, Health Plan Business Unit, stated, "We are very excited about this partnership and what we ultimately view as an opportunity to bring our inclusive Medicaid managed care solution to Florida. We look forward to working with AHCA and the State of Florida to expand their consumer-oriented Medicaid Reform program and demonstrating our commitment to improve health and quality of life for Medicaid recipients in Florida."
Including the start-up costs associated with Sunshine Health, Centene expects this transaction to be neutral to earnings in 2007.
About Centene Corporation
Centene Corporation is a leading multi-line healthcare enterprise that provides programs and related services to individuals receiving benefits under Medicaid, including Supplemental Security Income (SSI) and the State Children's Health Insurance Program (SCHIP). The Company operates health plans in Arizona, Georgia, Indiana, New Jersey, Ohio, Texas and Wisconsin. In addition, the Company contracts with other healthcare and commercial organizations to provide specialty services including behavioral health, health management, long-term care, managed vision, nurse triage, pharmacy benefit management and treatment compliance. Information regarding Centene is available via the Internet at www.centene.com.
Wednesday, July 11, 2007
insurance news
Insurance may be described as a social device to reduce or eliminate risk of life and property. Under the plan of insurance, a large number of people associate themselves by sharing risk, attached to individual.
The risk, which can be insured against include fire, the peril of sea, death, incident, & burglary. Any risk contingent upon these may be insured against at a premium commensurate with the risk involved.
Insurance is actually a contract between 2 parties whereby one party called insurer undertakes in exchange for a fixed sum called premium to pay the other party happening of a certain event.
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Insurance is a contract whereby, in return for the payment of premium by the insured, the insurers pay the financial losses suffered by the insured as a result of the occurrence of unforeseen events.
With the help of insurance, large number of people exposed to a similar risk make contributions to a common fund out of which the losses suffered by the unfortunate few,
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