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Briefs

HealthSouth, docs will settle claims

By Times staff and wires
Published December 15, 2007

BIRMINGHAM, Ala. - HealthSouth Corp. and one of the nation's most prominent orthopedic surgeons agreed to pay almost $15-million to settle civil claims over what the government said Friday was an illegal kickback scheme. HealthSouth, which is still recovering from a massive fraud, will pay $14.2-million, and Dr. James Andrews - whose patients include some of the nation's top pro athletes - will pay $450,000, the Justice Department said. Dr. Larry Lemak, a former associate of Andrews, agreed to pay $250,000. U.S. Attorney Alice Martin said the settlements involved civil claims. HealthSouth operates facilities in Largo.

Governments pull $44.9M from fund
TALLAHASSEE - Local governments pulled $44.9-million Friday from a Florida fund that was the largest of its type in the nation before losing almost half its assets to withdrawals last month. The accessible portion of the Local Government Investment Pool's balance stands at about $10-billion, the State Board of Administration said. The fund has shrunk by a little more than $2-billion since it opened Dec. 6 following an almost one-week suspension after the disclosure of subprime-tainted holdings prompted a run on assets by schools and towns invested in the fund. Florida hired New York-based BlackRock Inc. to restructure and manage the fund, which until last month held $27-billion. The bulk of withdrawals Friday came from Sunrise City in Broward County, which pulled $37-million.

Senate approves mortgage plan
WASHINGTON  - The Senate moved against the worsening mortgage crisis Friday, voting to make it easier for thousands of homeowners with ballooning interest rates to refinance into federally insured loans. The legislation, approved 93-1, would allow the Federal Housing Administration to back refinanced loans for borrowers who are delinquent on payments because their mortgages are resetting to sharply higher rates from low initial "teaser" levels. The bill also tries to make FHA loans more attractive than risky subprime loans by accepting lower down payments and expanding the eligibility for counseling for homeowners.

Toyota recalling 15,600 Tundras
TORRANCE, Calif. - Toyota Motor Corp. is recalling 15,600 new Tundra large pickups because a rear driveshaft can separate and cause the wheels to stop turning. The recall covers four-wheel-drive versions of the 2007 Tundra, Toyota's U.S. sales unit said Friday. There has been one occurrence of the problem, with no accidents or injuries.

Sheila Johnson will speak at SPC
ST. PETERSBURG - Billionaire Sheila Johnson, co-founder of Black Entertainment Television and new owner of the Innisbrook Resort and Golf Club in Palm Harbor, will deliver the commencement address to the 600 students graduating from St. Petersburg College this morning. In July, Johnson spent $35-million to buy the Innisbrook complex, which plays host to the PGA Tour. She's promised $20-million in renovations in the next 12 to 15 months. Johnson also is president of the WNBA's Washington Mystics and has stakes in the NBA and NHL.

[Last modified December 14, 2007, 23:27:24]