Investigation Claims Some Dental Chains Providing Unneeded Work To Milk Medicaid Cash Cow

People covered by Medicaid often complain that they are not getting the treatments that people with private health insurance receive. But a recent report claims that some high-volume dental chains are pushing their dentists to deliberately perform unnecessary procedures on Medicaid patients in order to make more money.

In a new interview with ProPublica, David Heath of the Center … [More]

Source: http://consumerist.com/2012/10/02/investigation-claims-some-dental-chains-providing-unneeded-work-to-milk-medicaid-cash-cow/

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American Airlines Is Inspecting Planes After Seats Come Loose On 2 Flights

American Airlines airplane

Oct. 2 (Bloomberg) -- American Airlines, already struggling with a third week of delays, found improperly installed clamps on six Boeing Co. 757 jets that could have allowed more instances of seats pulling loose in flight.

The problem fittings were discovered as American widened inspections to 47 planes from yesterday’s initial plan to check just eight of the aircraft, according to a statement today. The AMR Corp. unit has finished 36 inspections, which follow in- flight clamp failures on two jets within the past week.

“We have a lot of confidence the aircraft we are flying today are safe,” David Campbell, American’s vice president for safety, security and environmental, said in an interview. “We are being very careful about going through and making sure we identify the root cause and work through the corrective action.”

The U.S. Federal Aviation Administration also is investigating the issue, which the agency said occurred after the seats were recently removed and reinstalled. The FAA has had Fort Worth, Texas-based American under stepped-up monitoring since its Nov. 29 bankruptcy filing, a standard practice.

American hasn’t determined how the clamps were installed incorrectly on the foot of seat-row legs, Campbell said. The seats have two torqued locking points in back and two finger- tightened locks in the front, and the back locks appear to be the source of the problem, he said.

Extra Caution

Inspections on the remaining 11 aircraft should be completed tomorrow. American expanded the original reviews “out of an abundance of caution,” a spokeswoman, Andrea Huguely, said in the statement. The issue doesn’t appear tied to any one maintenance facility or work group, she said.

The seat checks added to strains on American as it grapples with flight delays that began in mid-September and preparations for more than 4,000 layoffs to help restructure in court protection. AMR is also trying to fend off a possible takeover bid from US Airways Group Inc. in favor of staying independent.

Boeing’s twin-engine, single-aisle 757 is an out-of- production model that’s typically used on longer domestic routes than smaller single-aisle planes such as the Boeing 737. American said it operates 102 of the 757s.

Cabin Upgrades

The 47 aircraft in the inspections have the same older- style main-cabin seats with a common locking mechanism. The seats are scheduled to be replaced as American upgrades the planes’ interiors, Campbell said.

“We had, in many cases, both contract and some of our own employees re-secure the seats, and they came loose again,” he said. “We don’t believe it’s human error. It’s something the mechanics are focusing on.”

The most recent loose-seat incident occurred yesterday on Flight 443 to Miami from New York’s Kennedy airport. That plane took off and returned to New York once the loose seats were found, the FAA said.

American disclosed today that loose seats also were reported on the same aircraft on a flight to Vail, Colorado, from Dallas-Fort Worth on Sept. 26. The seats were tightened upon landing in Vail and the 757 returned to the D-FW airport, said Mary Frances Fagan, an American spokeswoman.

Emergency Landing

In a third incident, Flight 685 to Miami from Boston on Sept. 29 made an emergency landing at Kennedy airport after the discovery of three seats that weren’t properly secured to tracking on the cabin floor, Huguely said.

Timco Aviation Services, a contract maintenance provider, was asked by American to refer “all inquiries regarding this matter” to the airline’s media relations department, Leonard Kazmerski, the company’s marketing vice president, said yesterday in an e-mail. He didn’t respond to an e-mail seeking comment today.

The Transport Workers Union, which represents mechanics and other American employees, said “much” of the work related to seat installations was done by Greensboro, North Carolina-based Timco.

Statements linking the loose seats with American’s labor discord “are without any basis in fact,” Robert Gless, deputy director of the union’s Air Transport Division, said today in a statement. Seven work groups represented by TWU have approved cost-cutting contracts with American, which is in the process of eliminating more than 4,000 jobs held by those workers.

--Editors: Ed Dufner, John Lear

To contact the reporter on this story: Mary Schlangenstein in Dallas at maryc.s@bloomberg.net

To contact the editor responsible for this story: Ed Dufner at edufner@bloomberg.net

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SPOTTED: A Hugely Powerful Audi In Washington, D.C.

Audi makes nice cars, but the German outfit is not really known for pumping out hundreds of horsepower. The 2012 R8 went against the grain with a 5.2-liter, V10 engine that propels the car from 0 to 60 mph in just 3.7 seconds, and up to 196 mph.

This dark blue model, with a base price of $149,000, was spotted by reader Twaro on M Street in Washington, D.C.

Have you spotted a rare or unusual way of getting around in your travels? Did you take a photo? Do you like sharing? Let me know via e-mail: adavies@businessinsider.com or on Twitter: @adavies47.

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Chipotle Faces A 'Pyramid Of Analytical Disaster' (CMG)

chipotle

Legendary short-seller David Einhorn thinks that Chipotle is facing an important competitive problem: Taco Bell.

Yum! Brands' Mexican fast food chain has begun to fight Chipotle directly with its new upscale Cantina Menu, which looks to emulate the quality of Chipotle at a lower price point.

But there's more to worry about at Chipotle than Taco Bell.

Brian Sozzi, chief equities analyst at NBG Productions, calls it the "pyramid of analytical disaster."

He explains in a note this morning:

The top: Chipotle logged its first single-digit percentage comparable restaurant sales increase dating back to the second quarter of 2010, and the worst since the first quarter of that year (+4.3%). 

The key drivers of Chipotle’s comparable restaurant sales, customer traffic and price increases, have now begun to evolve.  First, customer traffic, which was a strong driver in the first quarter of the year, is poised to moderate heading into the third and fourth quarters. 

There is downside risk to traffic given cautious consumer spending trends and possible brush back to Chipotle’s late 2011 menu price increases.  As that traffic risk elevates (and likely occurs), pricing gains may have to be reversed ever so slightly. 

Ultimately, the collection of these “what ifs” leads to concerns on the bottom of the analytical pyramid.

The bottom: With slowing comparable restaurant sales comes less “leverage” on costs and operating expenses.  I am most concerned with costs.  

The company is ramping up efforts to use more naturally grown meat, which is a great social message, but does raise costs structurally (and this is structural because Chipotle will not suddenly go away from its natural message, its key to the brand) as sales are moderating. 

Additionally, severe drought conditions are likely to translate to higher supply chain costs for restaurant operators and as we know, Chipotle is not likely to reignite price increases this year (has stated it won’t, plus I am not sure how much more open the consumer would be to further Chipotle price increases…might opt to pack lunch for work).

NOW SEE: Here's The Upscale Taco Bell Menu That David Einhorn Thinks Will Cream Chipotle >

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Why Facebook's Argument Against Privacy For Minors Is Doomed

The Federal Trade Commission wants to protect the privacy of minors, but Facebook objects on First Amendment grounds. Here's why the social network's argument is weak, self-serving, and bound to fail.

Known as the Children's Online Privacy Protection Act, the proposed rules represent the biggest overhaul of US privacy policy with respect to minors in more than a decade. They would require parental consent for users under 18 for a wide range of common data-collection techniques, including cookies and location tracking. Facebook allows users as young as 13 to become members, so the rules would affect the site's users between 13 and 18.

Click here to read more>

 

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Australia's Central Bank Cuts Rates, And More Cuts Are Likely Coming

SYDNEY (Reuters) - Australia's central bank cut interest rates by a quarter point to a three-year trough of 3.25 percent on Tuesday as a slowdown in China, falling export prices and a high currency all dimmed the economic outlook at home.

The Australian dollar fell half of a U.S. cent as the market had not been fully priced for a move, with many analysts favoring November as the more likely window for a cut.

"The Board judged that, on the back of international developments, the growth outlook for next year looked a little weaker," Reserve Bank of Australia (RBA) Governor Glenn Stevens said after the central bank's monthly policy meeting.

"The Board therefore decided that it was appropriate for the stance of monetary policy to be a little more accommodative."

The latest move brings the cuts delivered since last November to 150 basis points. Investors had priced in about a 60 percent probability on an easing this week, in part due to concerns about China, Australia's biggest export market.

Most economists had thought the central bank would wait for third-quarter inflation figures due later this month before pulling the trigger.

Still, with core inflation expected to remain near the floor of the RBA's long-term target band of 2 to 3 percent, markets had assumed further easing was inevitable.

"I think they have done the right thing," said Shane Oliver, head of investment strategy at AMP Capital Investors. "The global economy is looking a bit shaky."

"We are looking to another 0.25 percent cut in November, and then another one in February or March next year, taking the cash rate to 2.75 percent."

Interbank futures are fully priced for a move to 3.00 percent by Christmas. Overnight indexed swaps, which show where the market thinks the cash rate will be over time, have 2.75 percent inked in on a 12-month horizon.

Yields on Australian 10-year bonds are under 3 percent, so it is cheaper for the government to borrow for a decade than for banks to borrow overnight.

MINING PEAK AHEAD

Australia is fortunate is still having plenty of room to cut. With rates near zero in the United States, Japan and UK, those countries have had to take ever more exotic stimulus measures by buying massive amounts of government debt.

The easing already delivered helped the resource-rich economy grow a robust 3.7 percent in the year to June, far outpacing its developed world peers. With annual output up at A$1.47 trillion ($1.5 trillion), it should pass Spain as the world's 12th largest economy this year.

Yet global headwinds have only got greater as the cooling of China and a recession in Europe drag on world trade. The pain is being felt across Asia, leading the central bank of South Korea on Tuesday to shift its policy emphasis toward promoting growth.

Prices for iron ore and coal, Australia's two largest export earners, have taken a beating in recent months, leading some miners to scale back on ambitious expansion plans.

The RBA's Stevens conceded the outlook for mining, while still very strong, had cooled a little.

"The peak in resource investment is likely to occur next year, and may be at a lower level than earlier expected," he wrote. "As this peak approaches it will be important that the forecast strengthening in some other components of demand starts to occur."

This transition has been complicated by the stubborn strength of the local currency which is pressuring sectors such as manufacturing and tourism.

A dash of monetary largesse would also help offset a coming tightening in fiscal policy as the Labor government is wedded to returning the budget to surplus by next June, years if not decades before most other developed nations.

"They're looking for the non-mining part of the economy to start making a greater contribution a bit sooner and lower rates are one way to assist that growth transition," said Michael Blythe, chief economist at Commonwealth Bank.

"November looks a real possibility for another cut, particularly, if we get another friendly-looking inflation number (due out on October 24)."

(Editing by John Mair and Eric Meijer)

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Android Continues To Surge Internationally

Android has eaten up market share abroad over the past year. According to Kantar Worldpanel ComTech, Google's mobile operating system collectively picked up 20 percentage points in the five largest European markets—Great Britain, Germany, France, Italy, Spain. The only other platform to gain market share in those markets, Windows Phone, notched a 1 percent increase. Windows now has a double digit market share in Italy and Brazil, but is still tiny globally.

The findings also reinforce the importance of local market conditions in the mobile platform wars. Spain, for example, no longer has carrier subsidies. According to the Wall Street Journal, a new iPhone in Spain now costs three times as much as its subsidized forerunner. As a result, Android now accounts for a whopping 84 percent of the market, up from 55 percent a year prior. (It is also worth mentioning that Spain is in the middle of a bruising economic crisis right now, further amplifying the appeal of cheaper devices.)

Brazil, which is a potentially enormous market with limited penetration, also lacks carriers subsidies. While relatively wealthy, it still has enormous pockets of poverty and is not as well off as the other countries analyzed. iOS accounts for a scant 6 percent of the market while Android surged almost 30 percentage points to a 47 percent share. Nokia's antiquated Symbian platform still accounts for 27 percent of the market, down from 65 percent a year prior, but still significant.

China, which accounted for almost a quarter of smartphone shipments in the second quarter, is also reportedly dominated by Android

Apple's iOS platform is strongest in countries with carrier subsidies, like the U.S., Great Britain, and Australia, Nonetheless, there are always local peculiarities, like RIM's almost 30 percent share in Mexico. 

Long-term, however, we believe the key to the mobile platform wars is developer market share because they create the apps and games that draw consumers to their phones. In the U.S., iOS has blown open a huge lead with developers because it pays much better than Android. At a certain level though, Android's massive user base will be too much to resist for developers eager to find an audience. 

Below are the charts for the eight countries analyzed by Kantar, with their smartphone market share by platform for September 2011 and September 2012:

Australia

Brazil

france

Germany

italy

Mexico

Spain

 

US

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Mitt Romney Has A Big Problem ? And It Has Nothing To Do With This Campaign

Mitt Romney has an extremely narrow path to an electoral-college comeback victory, a trend that has befallen the Republican Party's presidential nominee every year since the 1988 election.

Not since George H.W. Bush and Dan Quayle swept through the Electoral College map in 1988 has a Republican been able to breeze through a presidential election. 

The reasons behind the GOP's tight electoral spot actually have little to do with Romney, and more to do with shifting demographics that favor President Barack Obama. The reality of the 2012 election is this: Obama has the luxury of being able to hold on to most of the states he won in 2008. Romney, on the other hand, has no room for error and needs to make some impressive comebacks in swing states to capture the election. 

"It's not an exaggeration to say that Mitt Romney faces the toughest path to victory in recent memory," Marquette Law School pollster Charles Franklin. 

Here's a look at the map of "safe" and "leaning" states for each candidate. There's a built-in advantage for Obama that gets him close to 270 votes, even without the battleground states:

Electoral College map

That's a big shift from just 24 years ago, when Bush and Quayle romped to a 426-111 electoral-college victory over Michael Dukakis and Lloyd Bentsen. 

Electoral College map

Republicans dominated the electoral map with the candidacies of Ronald Reagan and George H.W. Bush in the 1980s. Starting with Richard Nixon in 1972, the Republican candidate won four of the next five elections with at least 400 electoral votes. But no Republican candidate — not even the victorious George W. Bush in 2000 and 2004 — has garnered more than 286 electoral votes since 1988. 

Shifting demographics and Republicans' failure to take advantage has pushed former Republican strongholds into blue — or at least purple — territory. 

"This is the concern among Republicans," Franklin said. "Looking at the demographics of the next 20 years, the groups that are growing are the groups that are leaning Democratic."

The changes are perhaps most evident in Virginia, which has seen an influx of younger women and Latino voters — who traditionally lean Democratic — into the northern part of the state. The result: After going red for 10 consecutive elections, Virginia shifted blue in 2008. 

In North Carolina, too, there has been an influx of workers from the Rust Belt and Northeast that have helped make the state a toss-up. Until 2008, North Carolina had sided with Republicans in every election since 1980. 

Republican strategists lament the fact that their party has shunned some of these groups — like Latinos, many of whom have been turned off by the GOP's hard line on immigration.

"At some point soon, the Latino population is going to get so huge that without a good percentage of the Latino vote in key states, any candidate is going to lose, whether they're Republican or whether they're Democrat," said Lionel Sosa, a former Reagan adviser who has worked on seven presidential campaigns.

As a result, Romney is boxed in to an electoral college strategy that leaves him with few options. If he loses Florida, for example, he has to win Ohio, Iowa, New Hampshire, Colorado, Wisconsin, Nevada and Virginia to get past 270. If he wins Florida but loses Ohio, he still faces the implausible path of winning New Hampshire, Iowa, Nevada, Virginia and Colorado.

Obama, on the other hand, can afford to lose Ohio, Florida, Virginia and North Carolina and still eek out a victory.

It's a problem that Republicans have to address heading to 2016 and beyond. Growing Latino populations in Arizona and, especially, Texas — and its whopping 38 electoral votes — are soon going to threaten Republican domination in those states. Meanwhile, Republicans don't have the same kind of prospects for favorable demographic shifts. 

"It's a little hard to foresee big Republican gains," Franklin said. "The biggest demographic trend favoring Republicans has already happened — the conversion of old Democratic South to the new Republican South. That is the concern."

Still confused? Here's everything you need to know about the Electoral College > 

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