Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Businessweek Archives

An Autumn To Remember

In Business This Week


Last August, just as Jeffrey Barbakow was settling in as CEO at scandal-ridden National Medical Enterprises, 600 FBI agents raided NME's headquarters in Santa Monica, Calif., and other facilities. The feds were searching for evidence of overbilling, a charge 19 insurers had already made in two lawsuits.

Barbakow seems to be getting a grip. On Dec. 13, NME agreed to reimburse 13 insurance companies $89.9 million, part of a total $230 million in settlements. Ten days earlier, the company had announced the sale of its deteriorating rehabilitation-care unit for $300 million. Barbakow's maneuvering has propelled NME's stock to 13, double its price four months ago.

Barbakow, a former Merrill Lynch investment banker, vows he will next sell off the company's chain of 61 psychiatric hospitals. Then he plans to cobble together a deal with the Justice Dept., hoping to head off potential indictments. Analysts speculate that Barbakow's ultimate goal is selling off the entire company. A full agenda? When he started, Barbakow says, "I had a list in my top drawer of sixteen things I needed to get done. Now, the list is down to two."EDITED BY KEITH H. HAMMONDS Eric Schine

blog comments powered by Disqus