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WellCare laying off 9 percent of its work force, APFN

May 20, 2009 1:45 pm | by The Associated Press | News | Comments

TAMPA, Fla. (AP) — WellCare Health Plans Inc. said Wednesday it is laying off 9 percent of its work force as part of a restructuring move.In all, the company said it will lay off 360 workers, partly because of its move to withdraw from Medicare Advantage fee-for-service plans in 2010. The company...

Alabama college savings plan hit with losses, AL

May 20, 2009 1:45 pm | by The Associated Press | News | Comments

MONTGOMERY, Ala. (AP) — Alabama's college savings plan has seen a 24 percent decline in assets over the last year due to the stock market drop and mortgage investment problems.The program manager, Van Kampen Investments, told the board of the Alabama Higher Education 529 Fund on Wednesday that...

GOP drops effort to rename Democrats 'Socialist', 5th Ld-Writethru, US

May 20, 2009 1:45 pm | by BEN EVANS - Associated Press Writer - Associated Press | News | Comments

WASHINGTON (AP) — Republicans on Wednesday abandoned an effort to label their opponents the "Democrat Socialist Party," ending a fight within the GOP ranks that reflected the divide between those who want a more centrist message and those seeking a more aggressive, conservative voice.Supporters of...

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Changes to gay marriage bill fail in NH House, 3rd Ld-Writethru, NH

May 20, 2009 1:45 pm | by NORMA LOVE - Associated Press Writer - Associated Press | News | Comments

CONCORD, N.H. (AP) — Gay marriage is on hold in New Hampshire.Gov. John Lynch demanded changes to legislation that would have made the state the sixth to allow gay marriage before he would sign it, but those changes failed by two votes in the House on Wednesday.The House defeated an attempt to kill...

KBR's chief defends electrical work in Iraq, 6th Ld-Writethru, US

May 20, 2009 1:40 pm | by KIMBERLY HEFLING - Associated Press Writer - Associated Press | News | Comments

WASHINGTON (AP) — The chief executive of the military contractor under scrutiny in the electrocution of U.S. troops in Iraq said Wednesday the electrical codes it used in the buildings it maintained in the war zone "were known and thought to be acceptable" by the Pentagon.William P. Utt, the...

Search for mother, son who fled chemo, heads West, US

May 20, 2009 1:40 pm | by AMY FORLITI - Associated Press Writers - Associated Press | News | Comments

SLEEPY EYE, Minn. (AP) — The search for a Minnesota mother who fled with her 13-year-old cancer-stricken son to escape court-ordered chemotherapy has turned to Southern California after authorities received a tip.But the officials leading the search that continued Thursday acknowledged that Colleen...

Treasurys rise as Fed lowers economic outlook

May 20, 2009 1:39 pm | by The Associated Press | News | Comments

NEW YORK (AP) — Treasury prices rebounded Wednesday as the Federal Reserve reduced its full-year economic outlook and said unemployment could hit nearly 10 percent.The central bank also indicated in minutes released from its meeting last month that it might increase the total amount of government...

Semtech 1Q profit falls 39 percent as sales slump

May 20, 2009 1:39 pm | by The Associated Press | News | Comments

CAMARILLO, Calif. (AP) — Semiconductor maker Semtech Corp. on Wednesday said its first-quarter profit fell 39 percent as cost-cutting efforts failed to fully offset lower sales. But results still topped Wall Street estimates and the company forecast better-than-expected sales for the second...

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3 GM executives sell more than 200,000 shares, 2nd Ld-Writethru, US

May 20, 2009 1:39 pm | by DAN STRUMPF - AP Auto Writer - Associated Press | News | Comments

NEW YORK (AP) — Three top executives at General Motors Corp. recently sold more than 200,000 shares of the automaker just days ahead of a government-posed restructuring deadline.The three executives sold nearly 204,000 shares on Tuesday at prices ranging between $1.09 and $1.25 per share, according...

Announces Richard F. Sommer Appointed Chief Executive Officer Business Editors/High-Tech Editors

May 20, 2009 1:39 pm | by The Associated Press | News | Comments

SANTA CLARA, Calif.-- (BUSINESS WIRE) — May 20, 2009--LiveDeal, Inc. (NASDAQ: LIVE), a provider of web-based advertising and marketing services for small- and medium-sized local businesses (SMB), announced today that it has appointed Richard F. Sommer as its new Chief Executive Officer (CEO)."The...

RFK's son considering Senate bid from Illinois, 2nd Ld-Writethru, IL

May 20, 2009 1:39 pm | by DEANNA BELLANDI - Associated Press Writer - Associated Press | News | Comments

CHICAGO (AP) — A son of the late Robert F. Kennedy is considering a run for the U.S. Senate seat once held by President Barack Obama, the latest member of his family dynasty to take a stab at politics.The seat Christopher Kennedy is interested in is now held by Sen. Roland Burris, who was appointed...

Jury tells Microsoft to pay $200M in patent fight, US

May 20, 2009 1:39 pm | by The Associated Press | News | Comments

SEATTLE (AP) — A federal jury in Tyler, Texas, has ordered Microsoft Corp. to pay $200 million for infringing on a Canadian technology company's patent.The decision was announced in U.S District Court for the Eastern District of Texas on Wednesday, Microsoft said.Last March, Toronto-based i4i LLP...

Gymboree 1Q profit tops expectations

May 20, 2009 1:39 pm | by The Associated Press | News | Comments

SAN FRANCISCO (AP) — Children's apparel retailer Gymboree Corp. said Wednesday its first-quarter earnings slid 13 percent, hurt by a drop in sales at stores open at least one year, but still topped Wall Street expectations.For the quarter ended May 2, profit declined to $21.8 million, or 74 cents...

House Dems press leadership over partisan debate, 2nd Ld-Writethru, TX

May 20, 2009 1:39 pm | by APRIL CASTRO - Associated Press Writer - Associated Press | News | Comments

AUSTIN, Texas (AP) — House Democrats said Wednesday they are prepared to put up a fight to stop a looming battle over efforts to require Texans to show more ID before they can vote.The bill has already been a partisan flashpoint in the Republican-led Senate, where it was approved along party lines...

Venezuela seizes 35 oil contractors under new law, LT

May 20, 2009 1:39 pm | by The Associated Press | News | Comments

CARACAS, Venezuela (AP) — Venezuela's state oil company is seizing control of 35 oil contractors under a new law, President Hugo Chavez's government said Wednesday.The takeovers will affect dozens of local companies that provide transport and other services to Venezuela's state oil company on...

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