A hacker who appears to have ongoing, continuous access to Australia's electronic health care records is selling access to any full record for 0.0089 bitcoin, or about USD22. Read the rest
The EU had been expected to fine Google a little over €1B for its anti-competitive practice of promoting its own shopping service over competitors' in search results: today's €2.42B comes as a surprise, as does the ongoing fine if it fails to change its behavior within 90 days -- up to €10.6m a day, or 5% of parent company Alphabet's total daily earnings. Read the rest
China's long economic boom and near-total lack of social and legal protections for divorced women has created growth industries in weird services that help women keep their marriages intact after their jerky husbands start treating them like shit and/or start having affairs. Read the rest
The board of directors at Mylan have rewarded former CEO Robert Coury with a $98m bonus as he steps into the executive chairman's role, having overseen a price-gouging scandal over the Epipens used by people prone to life-threatening allergic reactions. Read the rest
Journalist Alexey Kovalev is in Moscow, whence tweeted this picture of "a vending machine in a mall for buying Likes for your Instagram pics." Read the rest
The US aviation industry is highly concentrated, with only four major airlines left in the country; for years, they've been lobbying to get rid of the FAA and take over their own safety oversight. Read the rest
Palmer Luckey, the guy who founded Oculus, sold it to Facebook, and then used the money to fund racist, far-right meme creation in the 2016 election cycle is now running a Peter-Thiel-backed startup to build surveillance technology that could be part of Donald Trump's border wall. Read the rest
Didn't it seem strange that Mylan, the pharmaceutical company that makes the EpiPen, enjoyed a stock price rally when the news came out in October that it was going to have to give the US government $465 million for overcharging Medicare? Well, the Department of Health and Human Services' Office of Inspector General says that Mylan overcharged taxpayers by $1.27 billion, making the half-billion dollar payout a simple cost-of-doing business expense.
Mylan, the scummy firm that jacked up the price of a single EpiPen injector from $57 to $500, deliberately misclassified the EpiPen as a generic drug, which allowed them to charge more for the life-saving medication.
The late afternoon news dropped the stock price of Mylan by 1 percent and tomorrow’s trading will show just how big a deal for the company this problem will be in the short term. Shareholders are pissed and a group of four institional investors are calling for six directors of the company to be blocked from reelection. The investors say that the directors have caused Mylan “significant reputational and financial harm.”
Mylan didn't invent the EpiPen, it acquired it in 2007, getting a drug that had been approved since 1987 and had 90 percent market dominance. Nor does it manufacture the EpiPen itself. Mylan buys it from a wholly owned Pfizer subsidiary for $34.50 per pen.
Mylan Chairman Robert Coury made $160 million 2016.
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CNBC’s Brian Sullivan interjected, asking her to explain how the price of the drug could go from $100 five years ago to $600 today.
There was a time when airline execs were paid based on a mix of on-time arrivals, accurate and timely baggage delivery, and profits. Now it's just profits. Read the rest
On Wednesday 25-year-old Fyre Festival founder Billy McFarland -- who is being sued for $100M over his catastrophic schadenfreudefest -- gathered his long-unpaid employees on a conference call this week to tell them that "After conferring with our counsel and all financial people, unfortunately we are not able to proceed with payroll. We’re not firing anyone, we’re just letting you know that there will be no payroll in the short term." Read the rest
Students of Avondale High School in the Detroit neighborhood of Auburn, MI are currently sitting in in the hallways of their school to protest the announcement that 6 of their teachers were to be laid off. Read the rest