7 Burst results for "Around Two Hundred And Twenty Five Million Dollars"

OxiContin Maker To Pay Out Billions In Civil, Criminal Penalties

NPR's Business Story of the Day

05:10 min | 2 years ago

OxiContin Maker To Pay Out Billions In Civil, Criminal Penalties

"The makers of oxycontin one of the drugs blame for sending off the OPIOID crisis will plead guilty to federal criminal charges. The Justice Department announced those charges against Purdue Pharma yesterday as part of an eight billion dollar settlement NPR addiction correspondent Brian Man is with US Brian Good Morning. Steve, how's a settlement? GonNa work. Yeah. So if it's approved by a federal bankruptcy judge, Steve The purdue Pharma will admit to the three felony charges including a charge that they misled doctors about the safety of medications like Oxycontin, over time, then the company would pay out billions of dollars in civil and criminal penalties, Jeffrey Rosen, the deputy attorney general who outlined the agreement yesterday says the sackler family would also be forced to give up control of their company. Instead of being the owners of a major pharmaceutical company, they will have no stake in that company. Now that sounds like a lot but critics are pointing to the fact that Purdue Pharma was already in big trouble facing bankruptcy struggling to hold onto employees and flooded with thousands of lawsuits tied to the improper marketing of opioids, and despite all that under this deal does federal deal the sackler walk away with most of their personal fortunes intact by some estimates there worth as much as ten billion dollars because of OPIOID prophets, they'll pay a fraction of that in penalties only about two hundred, twenty, five, million dollars out of their own pockets and Steve. There are no criminal charges against them the sackler. Admit to know personal wrongdoing. Well, how do prosecutors explain the deal would include no criminal charges and the sackler not entirely but mostly giving up a pile of liabilities rather than a penalty they would really feel. Deputy. Attorney General. Rosen was asked about this yesterday and he says these penalties go as far as the government can right now holding purdue and the sackler accountable. There is no law that says if you've done something wrong, we should just simply strip somebody of all their assets in existence that's not how it works. It has to be that we are looking at specific ex wrongdoing civilly or criminally, and then having a proportionate response but a lot of people including more than two dozen state attorneys, general dozens of members of Congress advocates for people suffering from addiction. They all say, this isn't proportionate response. They say members of the sackler family played a personal role pushing the prescription opioid boom developing these illegal and deceptive marketing practices that made purdue. Pharma. So profitable the Tissue James is New York State Attorney General, and she's suing members of the. Sackler family, her team tracked hundreds of millions of dollars in opioid prophets that the sackler sent to offshore accounts. She told. NPR. This justice department deal doesn't go nearly far enough doesn't account the hundreds of thousands of deaths of millions of addictions caused by produce farmer in the sackler family all of destruction that they have caused it basically allows billionaires to keep their billions without any accounting for how much a really made James says her state probe of the sackler family will continue. Meanwhile, there's one more detailed, the settlement that sparking. Anger, it turns out purdue. Pharma doesn't actually have enough money left to pay out the billions of dollars agreed to in this settlement. So the plan is for the government to reorganize Purdue Pharma into what's known as a public benefit company that means prophets from future sales of opioids like oxycontin would be used to pay for drug treatment and rehabilitation programs around the country Greg mcneal lives in. Ohio. One of the states hit hardest by the OPIOID epidemic and he lost his son Sam to an overdose five years ago. He. Says this idea of the government getting into the OPIOID business now after it's caused so much harm. He says it just feels wrong it. It just seems ill advised having the government entered into that business. Gosh. There's something about that. That just doesn't doesn't add up at all. And I should say Steve Twenty five state attorneys general agree they signed a letter last week they send it to Attorney General William Bar arguing that this arrangement is ethically wrong and could shelter purdue Pharma and the sackler from future criminal or civil liability Brian Kennedy at least be said for the deal that there's some money here that might help people harmed by the. OPIOID. Epidemic. That will definitely that's what the Justice Department is saying. So let's take stock for a second nearly seventy two thousand people died from overdoses last year this is still ongoing. A lot of those were opioid deaths. What US attorneys say is if this deal is finalized by the bankruptcy court, it would mean extraordinary new resources for states and cities and tribal governments struggling to keep people alive. But one thing everyone agrees to here is that this problem is so big now affecting. So many Americans they say the eight billion dollars from purdue, Pharma is really just a drop in the bucket.

Purdue Pharma Purdue Sackler Justice Department Steve NPR Jeffrey Rosen Attorney Brian Man Deputy Attorney General United States Steve Twenty Ohio Epidemic Attorney General William Bar Congress New York James
As Grocery Deliveries Soar, Startup Raises $10 Million to Unseat Giant Instacart

Business Wars Daily

04:32 min | 2 years ago

As Grocery Deliveries Soar, Startup Raises $10 Million to Unseat Giant Instacart

"As a result of COVID, nineteen instinct cart has become the Goliath of grocery delivery businesses as virus fears. Keep us out of grocery stores. We've been relying on food delivery mainly, INSTA- carts GIG workers called shoppers to keep a stocked up. This April INSTA- cart sales were five times greater than a year ago the Financial Times reported that I've popping growth hardly escaped. Investors Notice INSTA-. Cart raised another two hundred twenty five million dollars earlier this month that evaluation, approaching fourteen billion dollars. That's nearly double its valuation only eighteen months ago, perhaps needless to say instant carts thirty-three-year-old. A poor va mater is now a billionaire. But less you jump to the conclusion that Mehta can sit back and relax safe in his seat at the top of this rapidly growing industry. Thank again. A small startup called Ling is coming rich share of the grocery delivery business, though tiny compared to Insta- card investors are also taking notice last week dumpling raise six point five million dollars for a total of ten million dollars in funding so far founded in two thousand seventeen dumpling helps people create independent delivery businesses, the difference between shopping for instance card and dumpling is simple, but fundamental dumpling delivery workers own their own businesses Insta- cart workers are subcontractors paid by the shopping trip. Dumplings Co CEO's Joel. Shapiro Innate Danna make no bones about what motivated them to create dumpling. They felt sharing economy companies like Insta- card were treating workers on fairly so they created an APP that helps perspective entrepreneurs go into business for themselves to create a new business users pay a ten dollar fee for access to dumplings services and listing on the company's site where customers can search for shoppers. Bhai Zip Code. Shoppers paid dumpling a five dollar fee for each job or when they get busy enough switched to a monthly payment of thirty nine dollars. Dumplings model is not unlike Amazon's two year old partner delivery service, which also helps people start their own businesses in their case exclusively delivering Amazon packages supporters of the independent model say self employment in the delivery industry offers a number of advantages including higher revenue and insulation from the anti-god worker legislation that's cropping up all over the country so far fueled in part by the pandemic. The models seems to be working dumplings. Founders say customers or ordering twenty times more groceries than they were before in nineteen, and the company says it has helped. Two thousand people start their own delivery companies people. People like Kelly Vilchez in Orange County California. Vilchez operates under the business name shop girl. Oh, see. She told the L. A. Times that she's earning three to five thousand dollars a month. She's clearly a dumpling success story. According to the shop girl OC facebook page villages is featured in dumplings advertising campaign in contrast Insta- card has been plagued by shopper complaints since the onset of the coronavirus in March and April, many walked off the job, demanding better protection against Covid, nineteen higher tips and sick leave the Winston card initially claimed the strikes made no impact. Courts reporter Michelle Chang Rights. That's debatable on June. Fifteenth the Seattle. City Council voted unanimously to require that. GIG were companies like Insta- card and Grub pay their workers an extra two dollars and fifty cents hazard pay per order. That requirement is intended to last through the end of the COVID nineteen civil emergency declared by Seattle's mayor. Insecure has vowed a legal fight. Similar legislation is pending in Philadelphia New York and San Francisco Chang writes. It is these sorts of ills shortages of personal protective equipment, low pay and lack of sickly. The dumpling claimed self employment solves, but entrepreneurship isn't easy dumpling delivery workers have to do their own marketing and find their own customers, and they're on the hook. If grocery buyers failed to pay, which dumpling says is rare, that said any platform that helps the millions of unemployed grow their own wealth. Is appealing to investors, and it's interesting to note that dumplings mission says nothing specifically about the grocery business rather they say. We WanNA. Make dumpling trusted partner that helps anyone launched running grow their own service based business. Sure dumpling starting groceries. Be Questions. Where will they go next?

Insta Dumplings Co Partner Kelly Vilchez Financial Times Amazon Seattle Covid L. A. Times Michelle Chang Mehta Shapiro Insecure CEO Joel Reporter San Francisco Chang City Council
Pompeo says 21,000 Americans still stranded overseas

Rush Limbaugh

00:25 sec | 3 years ago

Pompeo says 21,000 Americans still stranded overseas

"Story more than forty five thousand US citizens have been repatriated from other countries during the pandemic secretary of state Mike Pompeii told reporters specific stories about American tourists who found themselves stranded in places like they Paul near Mount Everest pump pale ended the U. S. government will provide two hundred twenty five million dollars in additional health humanitarian and economic assistance

United States Mike Pompeii Paul Mount Everest
Ex-pharmaceutical exec gets 5 1/2 years for pushing opioid

AP News Radio

00:41 sec | 3 years ago

Ex-pharmaceutical exec gets 5 1/2 years for pushing opioid

"The case against seventy six year old John Kapoor is considered the first to hold an opioid maker criminally liable for the nation's addiction epidemic could pour and others that insist therapeutics were accused of paying millions in bribes to doctors even a lap dance in one case to get them to write more prescriptions for the company's Sentinel spray notice subsets prosecutors say that around the company without a moral compass but co poor testified during the trial he created the drug for his wife who was suffering with pain from breast cancer insists has reached a two hundred twenty five million dollar settlement with the government and the company has filed for bankruptcy protection I'm Jackie Quinn

John Kapoor Jackie Quinn
Opioid Crackdown Could Lead To More Drug Company Bankruptcies

NPR's Business Story of the Day

04:04 min | 3 years ago

Opioid Crackdown Could Lead To More Drug Company Bankruptcies

"Support for this podcast and the following message come from frame bridge. They make custom framing easy and affordable frame. Your art in photos at frame bridge dot com or visit their new stores located on fourteenth street and Bethesda row. Get fifteen percent off your first frame bridge order with code NPR just two years ago. The opioid manufacturer insists posted a quarter of a billion dollars in sales. Now, the Zona based company is declaring bankruptcy, federal prosecutors played this video as evidence in a trial against insists executives were convicted last month. Raising the ball and would change in the game. Great. It takes a decision to be better than the competition. The two thousand fifteen video featured a person dressed up as a giant bottle of the company's fennel spray and it was supposed to boost sales. The bankruptcy is the latest development in a string of lawsuits against big pharma, as state and federal governments pushed for accountability for the opioid addiction crisis. North country public radio's Brian man has been covering the story closely and he joins us now. So Brian what happened to insists? Yeah, these guys fell really far really fast. They marketed this medication subsists that included feno they're biggest product tens of millions of dollars in sales that it turns out this prescription opioid, like so many others marketed aggressively by the drug industry is really addictive really risky, the company pleaded guilty to series of felony charges, including claims, they bribed doctors to prescribe their medication. Pushing it to patients who should not have been using it. They're gonna pay the federal government, two hundred twenty five million dollars in penalties and company founder, John Kapoor and four other insys executives were convicted last month on racketeering charges in two hundred and twenty five million dollars in penalties is a lot of money. But this is a multibillion dollar corporation. So why did insists need to need to for bankruptcy? Right. You know what it is out? There is a lot of other opioid related lawsuits pending against the company in a statement yesterday, CEO, Andrew long described those as legacy legal challenges, and to capitol that sales of their product of plummeted. So they've announced they'll go through bankruptcy proceedings. Try to resolve all these liabilities and see what's left of the company. I mean, there's some really big names who've been implicated in the opiates crisis. Right Johnson and Johnson is one of them pharmacies like CVS, even organised by other other bankruptcies down the road here. Yeah. Big companies Johnson and Johnson McKesson WalMart. They have really deep pockets, lots of assets. They're not likely to go this bankruptcy route. But executives, for example, at Purdue pharma, the maker of Oxycontin. They have already floated the possibility of bankruptcy. This is being talked about in courtrooms all over the country. Remember, now, Rachel more than eighteen hundred state and local governments have filed these opioid related lawsuits. So the penalties and settlements could run into tens of billions of dollars really rivaling those big tobacco settlements of the nineteen nineties and the question. Now is how much can these companies pay to help clean up the opioid mess without putting them out of business? Well, what about those people who had specific claims against insects? I mean does filing for bankruptcy. Let the company off the hook and paying those families, or those victims of the crisis who fought to write the move attorneys representing a lot of those local governments issued a statement yesterday saying they're going to work now to find what assets remained incest, that might still be sort of attached, but they say their goal is not. Not to bankrupt, these companies that they're targeting. They said they want to use settlements to ease the epidemic seek what they call long term sustainable solutions and one thing. That's interesting here is the federal judge in Ohio, who's overseeing a lot of these cases. A guy named Dan pollster has been really outspoken, calling for some kind of a global negotiated settlement that will get money to community suffering from this epidemic. While also restoring stability to the drug industry, and so far that kind of deal just hasn't happened. But I man with north country public radio. Brian, thank you. We appreciate it. Thank you so much.

Brian Man Frame Bridge Johnson NPR Purdue Pharma Zona Company Founder Dan Pollster Andrew Long Johnson Mckesson Racketeering CEO John Kapoor Rachel Ohio Walmart CVS Two Hundred Twenty Five Millio Twenty Five Million Dollars
Jurassic World: Fallen Kingdom takes $150 million opening weekend

Hugh Hewitt

03:44 min | 5 years ago

Jurassic World: Fallen Kingdom takes $150 million opening weekend

"Minutes after the hour america welcome back i m we went down the news in the morning we have election day today walker stapleton is going to get elected nominated to be the next governor of colorado which i think he's going to win doug lamb born in colorado as well we've got michael grimm trying to stage a comeback the ethically challenged very brash and i think somewhat repellent candidate in stanton island is going to lose i believe to incumbent representative dan donovan who enjoys the backing of president trump dan donovan does harry me and henry master is going to win in south carolina and a bunch of and mitt romney will sweet to an easy victory in the utah republican primaries just like he's going to be elected the senate in november and democrats have got some primary challenges across the country meanwhile republicans are trying to press ahead in the senate with a narrow fix to the immigration situation and the flora's consent decree they to prosecute everyone but they don't want family three separate and they need the senate's help doing that the measure under discussion in the senate would address a flaw in the executive order that president trump issued last week it runs afoul of the flora's consent decree signed in nineteen ninetyseven updated as recently as twenty seventeen and it's too easy too early to tell chuck schumer whether or not there's a deal here senate republicans would like a deal that thom tillis put forward it would add two hundred twentyfive immigration judges take steps to brent migrant families from being separating quitting expediting court proceeding ted cruz dick durbin dianne feinstein met late monday to discuss the situation i and feinstein called bottle of first good meeting but nothing's going to happen this week we don't think so we'll have to wait and see where that goes we'll talk with tom cotton about that after the break but we do now the gop leaders are bracing for a second defeat on immigration in the house meanwhile border officials have suspended handing over migrant families to prosecute because they lack the space they want to keep them together if they turn them over to prosecutors they get charged to can't stay together for longer than twenty days so they're just doing some sort of catching away for who knows they're doing the best they can good day at the supreme court yesterday ratio gary manders found not to exist in texas texas gets to vote with the district they have with the exception of one house district just crazy stuff the court is trying to end this they're trying very hard to tell the states legislatures draw boundaries they have to have one man one vote one woman one vote but we're not in this business they also stood up put baron stutzman represented by the alliance defending pretty much is having a great year and it's gonna get even better day in the supreme court when they win the free speech case in crisis pregnancy centers in california putin was doing his michief yesterday toasting aired awan trying to bring air to one closer to the eastern split nato that's a bad deal jurassic world only made one hundred and fifty million dollars it's predecessor made two hundred twenty five million dollars in its opening weekend jurassic world went on to collect one point eight billion dollars worldwide and i think you're going to see that fallen kingdom is holding its own got an a minus grade and cinematics i liked it i saw it yesterday after the show went downtown for dinner last night terrific dinner with eliana johnson robert o'brien and their and their friends and we had a wonderful dinner talking all off the record come silence chat the msa roles but great fun fire fire is underway in lake county the pony fire in it's a big one in its early that's what i don't like as when the fire season starts early i told you in the first hour chinese army veterans how many veterans do you think china has fifty seven million veterans and they are not happy that's a problem for president gee now to.

America Walker Stapleton Two Hundred Twenty Five Millio Eight Billion Dollars Fifty Million Dollars Twenty Days
Alec Baldwin Responds to Donald Trump on Twitter

Flashpoint

01:22 min | 5 years ago

Alec Baldwin Responds to Donald Trump on Twitter

"Companies ask sets for two hundred twenty five million dollars contraire a sweet is best known for running a small business administration under president obama the deal creates a ninety million dollar compensation fund for weinstein's victims unclear what prompted mr trump to tweet first thing alec baldwin who's dying mediocre career was saved by his terrible impersonation of e on snl now says plane me with agony alec it was agony for those were forced to watch bring back darrell hammond funny in the far greater talent baldwin who was lining up a talk show for abc indicates in his reply he's not giving up the snl cameos agony though it may be i'd like to hang in there for the impeachment hearings the resignation speech the farewell helicopter ride tomorrow lago you know the good stuff that we've all been waiting for president trump tweeted this morning little adam schiff who is desperate to run for higher office is one of the biggest liar and leakers in washington right up there with colby warner brennan and clapper adam leaves closed committee hearings to illegally leak confidential information and everybody knows because chef was was littering out by a little you'll that he has the chris plante show weekday mornings nine to noon on news radio 1150 red eye radio seven nights a week one until five on news radio 1150 w g o w fun to.

President Trump Weinstein Mr Trump Alec Baldwin SNL Adam Schiff Washington Barack Obama Darrell Hammond ABC Colby Warner Chris Plante Two Hundred Twenty Five Millio Ninety Million Dollar 1150 W