Monday, May 21, 2012
Health system seeks drilling facts
PITTSBURGH
Some people are absolutely sure gas drilling threatens public health, while others are absolutely sure it doesn’t.
Geisinger Health Systems is looking for more facts on the debate over the Marcellus Shale boom, a gas-rich formation that has generated jobs, billions of dollars and concerns about possible environmental and public health impacts.
David Carey, director of Geisinger’s research center in Danville, says the company has health records from both before and after gas drilling started in some communities.
That means that over time, it will be able to provide scientific data on what is or isn’t happening to people’s health.
Carey says the company isn’t presuming anything about the issue, though it is aware of both health concerns and the economic value of the shale boom.
Reports: Yahoo nears deal to sell stake in Alibaba
NEW YORK
Yahoo Inc. may finally be nearing a deal to sell a part of its prized stake in the major Chinese e-commerce provider Alibaba.
Bloomberg Businessweek is citing unnamed sources in reporting that the struggling U.S. Internet company could announce as early as Sunday that it has reached an agreement to sell half of its 40 percent stake in Alibaba.
The transaction could bring Yahoo $7 billion.
Representatives for Yahoo and Alibaba declined comment on Sunday.
The companies have been negotiating for more than a year. The talks at various times also have involved Japan’s SoftBank Corp., Alibaba’s other major shareholder.
The deal could help appease Yahoo shareholders by giving the company a cash infusion for dividends and possible acquisitions or share repurchases.
Yahoo’s market value is $19 billion.
Trial of ex-P&G, Goldman board member starts
NEW YORK
The insider trading trial of a former board member for Goldman Sachs and Procter & Gamble begins today in New York with jury selection.
Rajat Gupta has asserted his innocence against charges he shared secret board tips with a billionaire hedge fund founder who was his friend. The 63-year-old Westport, Conn., resident faces conspiracy and securities fraud charges that carry a potential for more than 100 years in prison. The hedge fund founder he is accused of helping is serving 11 years in prison, the longest sentence ever given someone convicted of insider trading.
Prosecutors say they’ll take two weeks to present their evidence. The judge says the trial will not last more than a month. Opening statements were expected to occur as early as this afternoon.
Associated Press