According to a Federal Railroad Administration report released to the House and Senate Appropriations Committee on Friday, only three freight and commuter railroad companies have submitted safety plans for the implementation of new technology, required to be finished by a December 31st deadline. The technology, Positive Train Control (PTC), depends on GPS technology to automatically
In the wake of a buying and selling frenzy, Irish drugmaker Allergan has been subpoenaed by the Department of Justice (DOJ) over antitrust concerns regarding the pricing of its generic drugs. Last week, the company announced a $40.5 billion selloff of its generics unit to the global generic market leader, Israeli-based Teva Pharmaceuticals. That deal
As shocking as it may seem, a leading Senate Republican, with the support of the National Rifle Association (NRA), are teaming together to promote legislation that would make it tougher for mentally ill persons to acquire firearms. On Wednesday, Senate Minority Whip John Cornyn (R-TX), the second-most powerful person in the Senate, introduced a bill
On Wednesday, a three-judge panel from the 4th Circuit Court of Appeals in Richmond, Virginia ruled that the Fourth Amendment requires law enforcement officials to obtain a warrant before searching historical location data from a person’s cell phone. The case involved defendants Aaron Graham and Eric Jordan, who were accused of several Baltimore-area robberies. The
Dodd-Frank strikes again, as the Security and Exchange Commission (SEC) adopted a rule on Wednesday to require most public companies to report the comparison of pay between employees and Chief Executive Officers. The commission voted 3-2, with the two Republican commissioners objecting the mandate to include the comparison in a company’s annual audited financial statement
While it might not affect 11 million customers like Fiat-Chrysler’s 23 separate auto recalls, the consequences for those that own some John Deere tractors could be just as hazardous. The company has announced a recall on nearly 2,100 riding lawn tractors, including 370 in Canada, over a potential brake lever arm malfunction. According to a
Another domino has reportedly fallen in the aftermath of the mortgage-backed securities (MBS) meltdown that was mostly responsible for the worst economic downturn since the Great Depression. Multiple media outlets are reporting that Goldman Sachs will settle a class-action lawsuit led by the NECA-IBEW’s Health and Welfare Pension Fund of Illinois, among other investors, to
A hyperbolic attempt by Republicans to defund Planned Parenthood was blocked in the Senate on Tuesday after a series of sting videos showed the agency selling aborted fetal tissue to fake medical researchers causing outrage among the social conservative wing of the party. The anti-abortion group, the Center for Medical Progress, released four videos in
The Security and Exchange Commission (SEC) is treading on thin legal ground, according to Manhattan District Judge Richard Berman, due to the agency’s use of an in-house judicial system. On Monday, Berman refused to dismiss a lawsuit filed by embattled former Standard and Poor’s (S&P) supervisor, Barbara Duka, who was accused of securities fraud by
August is beginning to look like a continuation of July for embattled automaker Fiat-Chrysler, as the company announced on Saturday that it is recalling 322,000 Dodge Chargers from model years 2011-2014. The recall comes after the company received 25 complaints of unintended side-curtain airbag deployments when the doors had been kicked or slammed forcefully. According