KANSAS CITY, MISSOURI -- Samuel K. Lipari of Medical Supply Chain, the largest plaintiff against General Electric Company (NYSE: GE) stated he would be willing to settle his healthcare industry racketeering and breach of contract claims today for less than each year GE and Jeffrey R. Immelt monopolized the American market for hospital supplies with Novation LLC providing GE replaces its Chief Executive Officer Jeffrey R. Immelt and provide a plan to restore GE's economic viability in the face of Wall Street's devaluation of GE stock. The lawsuit Samuel Lipari v. General Electric Company, et al 8th Cir. 08-3115 is currently in appeal over the applicability of a recent unanimous US Supreme Court ruling in Bridge v. Phoenix Bond & Indemnity Co., 128 S.Ct. 2131 (2008) preventing dismissal of similar mail fraud based racketeering claims.
Samuel K. Lipari stated, "I believe General Electric can survive this current storm by replacing Jeffrey R. Immelt and fully implementing compliance with the Sarbanes-Oxley Act to restore investor confidence."
On January 13, 2009 the noted Stock website Motley Fool's columnist Alex Dumortier a fund manager and CFA called for General Electric to be broken up as one of the few solutions to restoring the once Blue Chip corporation's attractiveness to investors.
http://www.fool.com/investing/value/2009/01/13/should-ge-be-broken-up.aspx
About General Electric Company:
GE is the creator and part owner of GHX, LLC the nation's sole remaining hospital supply electronic marketplace to health system institutions. Media contacts can be made through General Electric, Fairfield Russell Wilkerson, 203-373-3193 (office); 203-581-2114 (mobile) russell.wilkerson@ge.com www.ge.com
About Jeffery Immelt:
Jeffery Immelt is the Chief Executive Officer of the General Electric Company (NYSE: GE). Jeffery Immelt while president of GE Medical created and took ownership in GHX, LLC the nation's sole remaining hospital supply electronic marketplace to health system institutions. Media contacts can be made through General Electric, Fairfield Russell Wilkerson, 203-373-3193 (office); 203-581-2114 (mobile) russell.wilkerson@ge.com www.ge.com
About Novation:
Novation comprises the 2,500 members of VHA Inc. and the University HealthSystem Consortium (UHC), two national health care alliances and nearly 9,000 members of Provista, LLC (formerly known as Healthcare Purchasing Partners International, LLC (HPPI). VHA, UHC and Provista members purchased $31.6 billion in supplies through Novation LLC in 2006.
About Medical Supply Chain:
Medical Supply Chain (MSC) is a worldwide provider of web-based supply chain collaboration solutions with an electronic marketplace serving health care communities and their trading partners worldwide. In May of 2000, Samuel K. Lipari launched Medical Supply Chain, Inc. by introducing technology applications now adopted as the gold standard for delivery of institutional medical supplies for US Healthcare systems. To learn more visit: http://www.MedicalSupplyChain.com/news.htm
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