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☆ Investigation Behind Huge Air-Bag Recall Demand Took 8 Years
▼ + stars: | 2023-05-15 | by ( Ryan Felton | Tom Mcginty | ) www.wsj.com time to read: 1 min

The U.S.’s top auto-safety regulator last week demanded a huge recall of an air bag part that is at risk of exploding during crashes. That was eight years after the government began investigating the issue, during which two people died and eight were injured. Safety-defect investigations launched by the National Highway Traffic Safety Administration are becoming increasingly lengthy. Many agency probes last three and four years, well past NHTSA’s longstanding goal of a year or less, according to an analysis by The Wall Street Journal of publicly available data.

☆ Signature Bank Insiders Sold $100 Million in Stock During Crypto Surge
▼ + stars: | 2023-04-04 | by ( Tom Mcginty | Ben Foldy | ) www.wsj.com time to read: 1 min

Insiders at collapsed Signature Bank sold more than $100 million of shares in the years after the bank pivoted to attract cryptocurrency companies and became a stock-market darling, according to a Wall Street Journal analysis. Sales over the past three years by the bank’s chairman, its former chief executive officer and his successor accounted for about half of the amount sold, according to the Journal’s analysis of company filings. All three served on the board committee tasked with overseeing the bank’s risk profile over the past year.

☆ First Republic Bank Executives Sold $12 Million in Stock in Months Before Crash
▼ + stars: | 2023-03-16 | by ( Ben Foldy | Tom Mcginty | ) www.wsj.com time to read: 1 min

Top executives of First Republic Bank sold millions of dollars of company stock in the two months before the bank’s shares plummeted during the panic over the health of regional lenders. The bank’s chief risk officer sold on March 6, according to government documents. Two days later, Silicon Valley Bank shocked the market and sent other banks into freefall. First Republic was among the worst hit.

☆ Coinbase Leaders Sharply Slow Their Stock Sales
▼ + stars: | 2023-01-17 | by ( Corrie Driebusch | Tom Mcginty | ) www.wsj.com time to read: 1 min

Share sales by Coinbase Global Inc. officials fell sharply in 2022 along with the crypto exchange’s stock price. Co-founder and Chief Executive Brian Armstrong has pocketed $4 million since November from selling shares, according to an analysis of regulatory filings.

Many of the nation’s largest nonprofit hospital systems, which give aid to poorer communities to earn tax breaks, have been leaving those areas and moving into wealthier ones as they have added and shed hospitals in the last two decades. As nonprofits, these regional and national giants reap $8.8 billion from tax breaks annually, by one Johns Hopkins University researcher’s estimate. Among their obligations, they are expected to provide free medical care to those least able to afford it.

A decades-old federal program that offered big drug discounts to a small number of hospitals to help low-income patients now benefits some of the most successful nonprofit health systems in the U.S. Under the program, hospitals buy drugs at reduced prices and sell them to patients and their insurers for much more, often at facilities in affluent communities.

Consumer spending in the U.S. is going strong. Consumer lending, not so much. The financial squeeze that started about six months ago for companies that lend to ordinary Americans is getting worse, contrasting sharply with recent rallies in stocks and corporate bonds. The main reason: These finance companies have lost access to easy money.

When Covid-19 struck, the U.S. government gave hospitals tens of billions of dollars to help them cope with the strains of the pandemic. Many of the hospitals didn’t need it.

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