On Friday U.S. District Judge Richard Sullivan will sentence former SAC Capital Advisors hedge fund manager Michael Steinberg for his conviction in December on five counts related to insider trading. Steinberg is one of two former SAC employees whom federal prosecutors believe have firsthand knowledge of insider trading by SAC’s founder, Steven Cohen. Cohen has not been charged with any crime. Though Steinberg will likely receive a lengthy prison term, neither he nor Mathew Martoma, an SAC colleague convicted in January, is — at least publicly — cooperating with the government.
The Great Debate
from Stories I’d like to see:
1. How far can CVS and other pharmacy chains get into the doctoring business?
In announcing Wednesday that CVS Caremark would stop selling tobacco, chief executive officer Larry Merlo said selling cigarettes would be, according to a company press release, “inconsistent with our purpose.” He explained, “As the delivery of health care evolves with an emphasis on better health outcomes, reducing chronic disease and controlling costs, CVS Caremark is playing an expanded role in providing care through our pharmacists and nurse practitioners.”