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Microsoft co-founder Paul Allen: most generous living donor
The Chronicle of Philanthropy reported Monday that Microsoft co-founder Paul Allen was the third most generous donor in America last year, and the most generous one still alive.
This is Allen’s 10th year on the list. Only two donors have made the list more times: software billionaire Larry Ellison, and Eli and Edythe L. Broad, whose background is in finance and real estate.
Last year, Allen committed $372.6 million to a variety of foundations, including $295 million to his own Paul G. Allen Family Foundation, which supports the arts, culture, education and social service programs...
Top Congressional stock picks: Microsoft beats Apple
Microsoft ranks No. 4 on a list of the top stocks owned by members of Congress, according to a report by The Center for Responsive Politics.
Stock ownership by members of Congress has been an issue recently after several media reports that were critical of what some viewed as politicians capitalizing on inside information about the financial crisis, including a featured report on CBS news program "60 Minutes."
On Thursday the U.S. Senate approved a bill that prohibits legislators and their family members, as well as staffers, from trading stocks if they have non-public information...
Genomic Health's Randy Scott to lead new genetics subsidiary
Longtime Genomic Health Inc. executive Randy Scott is leaving the company — sort of.
Scott, most recently executive chairman of Genomic Health (NASDAQ: GHDX), will become CEO of a wholly-owned Genomic Health subsidiary that will focus on medical applications of the human genome. He will continue to serve on the board of the Redwood City-based cancer diagnostic test developer.
Genomic Health initially will fund the company with $20 million over two years. The company will be established March 1 and provide its first commercial service in 2013, according to a Genomic Health press release...
UCSF study: Boosting cigarette tax could bolster California economy by $2 billion
A June 5 ballot initiative designed to boost the tax on cigarettes by $1 a pack could create 12,000 new permanent jobs right away and add nearly $2 billion in economic activity in the Golden State annually, according to a new study by UC San Francisco.
The positive impacts would come, UCSF says, because “Californians would smoke less and spend their money in other ways.”
Roughly 4 dollars in every 5 spent on cigarettes goes to out-of-state manufacturers and farmers, since no tobacco is grown here and no cigarettes are made here...
Coventry renews contract with CEO Allen Wise
Coventry Health Care Inc. has extended CEO Allen Wise's contract for two years, securing his services through Dec. 31, 2013, and boosting his compensation to new heights.
Effective Jan. 1, Wise earns $900,000 in base salary annually and will be eligible for up to $1.8 million in bonuses each year, according to a Securities and Exchange Commission filing made public Monday. Furthermore, Wise will receive $7.6 million worth of stock awards in both 2012 and 2013 that would become payable upon the the health insurer's reaching earnings-per-share and revenue targets...
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