Barack Obama News

Southeast States Among Most Exposed to Climate Change Impact: Report

Poverty and climate hazards make the southeast United States the country’s most vulnerable area to climate change impact, Oxfam America said. A report released by the relief organization identified high-risk “hotspots” across 13 southeast states from Arkansas to Virginia where …

Puerto Rico Refinery Fire Extinguished; Burned for two Days

Firefighters in Puerto Rico extinguished a huge fire Saturday that had raged for more than two days at an oil storage depot outside San Juan and forced the evacuation of more than 1,000 local residents. Federal agents prepared to make …

U.S. Healthcare System Wastes Up to $700-$800 Billion a Year: Reuters

The U.S. healthcare system is just as wasteful as President Barack Obama says it is, and proposed reforms could be paid for by fixing some of the most obvious inefficiencies, preventing mistakes and fighting fraud, according to a Thomson Reuters …

Attack on Health Firms Is Assault on All Private Insurance, Warns P/C Chief

Attacks by President Obama and Congressional Democrats against private health insurers will have a “spillover effect” on other segments of the private insurance marketplace, a property/casualty insurance trade group executive has warned. David A. Sampson, president and CEO of the …

California Still at Earthquake Risk

California is still vulnerable to devastating loss should another earthquake occur like the Loma Prieta earthquake, which occured 20 years ago, according to ProtectingAmerican.org. “The fact is, that California’s largest cities are economically vulnerable as they were when the Loma …

Pay Czar Slashes Compensation for Top 25 at AIG, Other Bailed Out Firms

The U.S. pay czar Thursday slashed cash compensation for the top earners at seven companies that received massive taxpayer bailouts, while allowing for some increases to retain key talent. Kenneth Feinberg, charged with reworking pay contracts for the 25 highest-paid …

Senate Democrats Mull State ‘Opt Out’ Public Health Option as Compromise

Senate Democrats focused Thursday on a potential compromise on a government-run “public” health insurance option that would create a national plan but let states opt out if they chose. The compromise, designed to resolve one of the most contentious issues …

Search Is On for Medical Malpractice Reform Without Strict Award Limits

President Barack Obama’s willingness to consider alternatives to medical malpractice lawsuits is providing a boost for taking such cases out of the courtroom and letting experts, not juries, decide their merits. The idea of appointing neutral experts to sift malpractice …

Top Executives at AIG Financial, Other Bailed Out Firms to See Pay Cuts

Top earners at financial and auto companies bailed out by the U.S. government will see their pay slashed under an Obama administration plan aimed at addressing public outrage over eye-popping paychecks, two sources familiar with the matter said on Wednesday. …

Healthcare Battle Turns to Antitrust Law for Malpractice, Health Insurers

Democrats in Congress moved Wednesday to repeal the health insurance industry’s exemption from antitrust laws, cranking up the pressure in a growing battle over President Barack Obama’s healthcare reform plans. The moves were the latest chapter in an escalating feud …