Dozens sue pharmacy, but compensation uncertain


NASHVILLE, Tenn. (AP) — Dennis O'Brien rubs his head as he details ailments triggered by the fungal meningitis he developed after a series of steroid shots in his neck: nausea, vomiting, dizziness, drowsiness, blurred vision, exhaustion and trouble with his speech and attention.


He estimates the disease has cost him and his wife thousands of dollars in out-of-pocket expenses and her lost wages, including time spent on 6-hour round trip weekly visits to the hospital. They've filed a lawsuit seeking $4 million in damages from the Massachusetts pharmacy that supplied the steroid injections, but it could take years for them to get any money back and they may never get enough to cover their expenses. The same is true for dozens of others who have sued the New England Compounding Center.


"I don't have a life anymore. My life is a meningitis life," the 59-year-old former school teacher said, adding that he's grateful he survived.


His is one of at least 50 federal lawsuits in nine states that have been filed against NECC, and more are being filed in state courts every day. More than 500 people have gotten sick after receiving injections prepared by the pharmacy.


The lawsuits allege that NECC negligently produced a defective and dangerous product and seek millions to repay families for the death of spouses, physically painful recoveries, lost wages and mental and emotional suffering. Thirty-seven people have died in the outbreak.


"The truth is the chance of recovering damages from NECC is extremely low," said John Day, a Nashville attorney who represents several patients who have been sickened by fungal meningitis.


To streamline the process, attorneys on both sides are asking to have a single judge preside over the pretrial and discovery phases for all of the federal lawsuits.


This approach, called multidistrict litigation, would prevent inconsistent pretrial rulings and conserve resources of all parties. But unlike a class-action case, those lawsuits would eventually be returned to judges in their original district for trial, according to Brian Fitzpatrick, a law professor at Vanderbilt University Law School in Nashville.


Even with this approach, Fitzpatrick noted that federal litigation is very slow, and gathering all the evidence, records and depositions during the discovery phase could take months or years.


"Most of the time what happens is once they are consolidated for pretrial proceedings, there is a settlement, a global settlement between all the lawyers and the defendants before anything is shipped back for trial," he said.


A lawyer representing NECC, Frederick H. Fern, described the consolidation process as an important step.


"A Boston venue is probably the best scenario," Fern said in an email. "That's where the parties, witnesses and documents are located, and where the acts subject to these complaints occurred."


Complicating efforts to recover damages, attorneys for the patients said, NECC is a small private company that has now recalled all its products and laid off its workers. The company's pharmacy licenses have been surrendered, and it's unclear whether NECC had adequate liability insurance.


Fern said NECC has insurance, but they were still determining what the policy covers.


But Day says, "It's clear to me that at the end of the day, NECC is not going to have sufficient assets to compensate any of these people, not even 1 percent."


As a result, many attorneys are seeking compensation from other parties. Among the additional defendants named in lawsuits are NECC pharmacist and co-founder Barry Cadden; co-founder Greg Conigliaro; sister company Ameridose and its marketing and support arm, Medical Sales Management.


Founded in 2006 by Cadden and Conigliaro, Ameridose would eventually report annual revenue of $100 million. An NECC spokesman didn't respond to a request for the pharmacy's revenue.


While Federal Drug Administration regulators have also found contamination issues at Westborough, Mass.-based Ameridose, the FDA has said it has not connected Ameridose drugs to infection or illness.


Under tort law, a lawsuit has to prove a defendant has a potential liability, which in this case could be anyone involved in the medical procedure. However, any such suit could take years and ultimately may not be successful.


"I would not be surprised if doctors, hospitals, people that actually injected the drugs, the people that bought the drugs from the compounding company, many of those people will also be sued," said Fitzpatrick.


Plaintiffs' attorneys said they're considering that option but want more information on the relationships between the compounding pharmacy and the hundreds of hospitals and clinics that received its products.


Day, the attorney in Tennessee, said the clinics and doctors that purchase their drugs from compounding pharmacies or manufacturers could be held liable for negligence because they are in a better position to determine the safety of the medicine than the patients.


"Did they use due care in determining from whom to buy these drugs?" Day said.


Terry Dawes, a Michigan attorney who has filed at least 10 federal lawsuits in the case, said in traditional product liability cases, a pharmaceutical distributor could be liable.


"We are looking at any conceivable sources of recovery for our clients including pharmaceutical supply places that may have dealt with this company in the past," he said.


Ten years ago, seven fungal meningitis illnesses and deaths were linked to injectable steroid from a South Carolina compounding pharmacy. That resulted in fewer than a dozen lawsuits, a scale much smaller than the litigations mounting up against NECC.


Two companies that insured the South Carolina pharmacy and its operators tried unsuccessfully to deny payouts. An appellate court ruled against their argument that the pharmacy willfully violated state regulations by making multiple vials of the drug without specific prescriptions, but the opinion was unpublished and doesn't set a precedent for the current litigation.


The lawsuits represent a way for patients and their families recover expenses, but also to hold the pharmacy and others accountable for the incalculable emotional and physical toll of the disease.


A binder of snapshots shows what life is like in the O'Briens' rural Fentress County, Tenn., home: Dennis hooked up to an IV, Dennis in an antibiotics stupor, bruises on his body from injections and blood tests. He's had three spinal taps. His 11-day stay in the hospital cost over $100,000, which was covered by health insurance.


His wife said she sometimes quietly checks at night to see whether her husband of 35 years is still breathing.


"In my mind, I thought we were going to fight this and get over it. But we are not ever going to get over it," said Kaye O'Brien.


Marjorie Norwood, a 59-year-old grandmother of three who lives in Ethridge, Tenn., has spent just shy of two months total in the hospital in Nashville battling fungal meningitis after receiving a steroid injection in her back. She was allowed to come home for almost a week around Thanksgiving, but was readmitted after her symptoms worsened.


Family members are still dealing with much uncertainty about her recovery, but they have not filed a lawsuit, said their attorney Mark Chalos. He said Norwood will likely be sent to a rehabilitation facility after her second stay in the hospital rather than return home again.


Marjorie Norwood's husband, an autoworker, has taken time off work to care for her and they depend on his income and insurance.


"It doesn't just change her life, it changes everyone else's life around her because we care about her and want her to be happy and well and have everything that she needs," said her daughter, Melanie Norwood.


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Wall Street little changed as caution tempers data

NEW YORK (Reuters) - Stocks opened little changed on Thursday after data showed first time claims for jobless benefits fell sharply last week, but investors were cautious about making aggressive bets in the midst of ongoing "fiscal cliff" negotiations.


Shares of Best Buy Co surged almost 18 percent after a report that the company's founder is expected to make a fully financed offer to buy the consumer electronics retailer by the end of the week. Best Buy was up 17.9 percent at $14.36, making it the biggest gainer on the S&P 500.


Other economic data on Thursday showed retail sales rose in November after an October decline, brightening the picture for consumer spending.


Still, equities gains were constrained as the set of tax hikes and spending cuts that are set to come into effect in the new year remained at the forefront of investors' minds. Negotiators on Wednesday warned the showdown over reaching a deal on the so-called fiscal cliff could drag on past Christmas.


"With the suggestion that they're not any closer than they were a few days ago, we're really just in a market that's trying to figure out what the next catalyst might be," said Kate Warne, investment strategist at Edward Jones in St Louis.


"I think we need to see either an actual plan or signs that they've worked out a way to be sure they don't end up disagreeing at the last minute. Either of those would be positive, but so far we're not seeing anything that suggests either one."


The Federal Reserve on Wednesday announced a fresh bout of stimulus for the U.S. economy, but markets focused on comments from Chairman Ben Bernanke, who reiterated that monetary policy would not be enough to offset going over the fiscal cliff.


Investors are worried that doing so could send the economy back into recession, though most expect a deal will be struck eventually.


The Dow Jones industrial average <.dji> inched up 2.11 points, or 0.02 percent, at 13,247.56. The Standard & Poor's 500 Index <.spx> edged down 0.56 point, or 0.04 percent, at 1,427.92. The Nasdaq Composite Index <.ixic> eased 2.51 points, or 0.08 percent, to 3,011.31.


If the S&P 500 ends the session lower, it would break a six-day winning streak. Some of those days saw only slight gains on lower volume.


In the European Union, finance ministers reached a deal to make the European Central Bank the bloc's top banking supervisor. The move could boost confidence in leaders' ability to tackle the region's sovereign debt crisis.


Initial claims for state unemployment benefits dropped 29,000 to a seasonally adjusted 343,000, pointing to healing in the labor market.


Separate reports released at the same time showed producer prices fell more than expected in November, while retail sales rebounded though not by as much as expected.


CVS Caremark Corp gained 3.4 percent to $49.16 after it said it expects higher earnings next year.


(Editing by Kenneth Barry)



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Top 2012 searches include Whitney, PSY, Sandy






LOS ANGELES (AP) — The world’s attention wavered between the tragic and the silly in 2012, and along the way, Web surfers searched in huge numbers to find out about a royal princess, the latest iPad, and a record-breaking skydiver.


Whitney Houston was the “top trending” search of the year, according to Google Inc.’s year-end “zeitgeist” report. Google‘s 12th annual roundup is “an in-depth look at the spirit of the times as seen through the billions of searches on Google over the past year,” the company said in a blog post Wednesday.






People around the globe searched en masse for news about Houston‘s accidental drowning in a bathtub just before she was to perform at a pre-Grammy Awards party in February.


Google defines topics as “trending” when they garner a high amount of traffic over a sustained period of time.


Korean rapper PSY’s “Gangnam Style” music video trotted into second spot, a testament to his self-deprecating giddy-up dance move. The video is approaching a billion views on YouTube.


Superstorm Sandy, the damaging storm that knocked out power and flooded parts of the East Coast in the midst of a U.S. presidential campaign, was third.


The next biggest trending searches globally were a pair of threes: the iPad 3 tablet from Apple Inc. and Diablo 3, a popular video game.


Rounding out the Top 10 were Kate Middleton, who made news with scandalous photos and a royal pregnancy; the 2012 Olympics in London; Amanda Todd, a Canadian teen who was found dead of an apparent suicide in October after being bullied online; Michael Clarke Duncan, the “Green Mile” actor who died of a heart attack in September at age 54; and “BBB12,” the 12th edition of “Big Brother Brasil,” a reality show featuring scantily clad men and women living together.


Some trending people, according to Google, were:


Felix Baumgartner, an Austrian skydiver who became the first to break the sound barrier without a vehicle with a 24-mile plummet from Earth’s stratosphere;


— Jeremy Lin, the undrafted NBA star who exploded off the New York Knicks bench and sparked a wave of “Linsanity”;


Morgan Freeman, the actor whose untimely death turned out not to be true.


The Internet also continued its rise as a popular tool for spreading addictive ideas and phrases known as “memes.” Remember LOL? If you don’t know what it means by now, someone may “Laugh Out Loud” at you.


This year, Facebook said its top memes included “TBH (To Be Honest),” ”YOLO (You Only Live Once),” ”SMH (Shake My Head).” Thanks to an endlessly fascinating U.S. presidential campaign, “Big Bird” made the list after Republican candidate Mitt Romney said he might consider cutting some funds for public broadcasting.


Yahoo said its own top-searched memes for the year included “Kony 2012,” a reference to the short film and campaign against Ugandan militia leader Joseph Kony; “stingray photobomb” for an unusual vacation snapshot that went viral; and “binders full of women,” another nod to Romney for his awkward description of his search for women cabinet members as Massachusetts’ governor.


And people were happy to pass on popular Twitter posts by retweeting them. According to Twitter, the year’s most popular retweets were President Barack Obama‘s “Four more years,” and Justin Bieber’s farewell to six-year-old fan Avalanna Routh, who died of a rare form of brain cancer: “RIP Avalanna. i love you”.


Gadgets News Headlines – Yahoo! News


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Which Spice Girl Sizzled at the Viva Forever! Premiere?







Style News Now





12/12/2012 at 10:45 AM ET











Spice Girls Musical OpeningLandov


None of the Spice Girls dressed for their nicknames on Tuesday (well, maybe Posh), but they certainly spiced up the red carpet premiere of their new musical, Viva Forever!, in London.


Melanie Brown — Scary Spice — selected a sparkly gown with a high slit, while Sporty Spice, Melanie Chisholm, wore a structured gray mini. Ginger Spice, Geri Halliwell, pulled out a light-blue princess-like gown, and Baby Spice, Emma Bunton, chose a black mini covered up with a lacy blue overlay.



Posh Spice, Victoria Beckham, was the only member of the group to wear pants, selecting ankle-length slacks, a basic white blouse and simple black jacket (the rest of her brood was decked out in Burberry).


This reunion wasn’t quite as glam as the Girls’ turn at the London Olympics this summer — hello, bodysuits and Union Jacks! — but the stars gave us what we really, really wanted: some pretty major dresses. Tell us: Which Spice Girl wins your vote for best dressed last night? Vote in our poll and leave your thoughts in the comments!






PHOTOS: SEE MORE STARS ON THE RED CARPET IN ‘LAST NIGHT’S LOOK’




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Congress examines science behind HGH test for NFL


WASHINGTON (AP) — A congressional committee has opened a hearing to examine the science behind a human growth hormone test the NFL wants to start using on its players.


Nearly two full seasons have passed since the league and the players' union signed a labor deal that set the stage for HGH testing.


The NFL Players Association won't concede the validity of a test that's used by Olympic sports and Major League Baseball, and the sides haven't been able to agree on a scientist to help resolve that impasse.


Among the witnesses before the House Oversight and Government Reform Committee on Wednesday is Pro Football Hall of Fame member Dick Butkus. In his prepared statement, Butkus writes: "Now, let's get on with it. The HGH testing process is proven to be reliable."


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Wall Street climbs on stimulus anticipation

NEW YORK (Reuters) - Stocks rose for a sixth day on Wednesday as investors anticipated that the U.S. Federal Reserve will announce a fresh stimulus plan to support the economy at the end of a two-day monetary policy meeting.


The Fed is expected to announce a new round of bond buying later on Wednesday to boost a fragile economic recovery threatened by political wrangling over the government's budget. The monetary policy committee's decision is expected around 12:30 p.m. ET.


The S&P 500 was up for a sixth day, its longest winning streak since August, although gains have been less than 0.5 percent per day, on average.


"The market is waiting on the Fed, anticipating the open check to be out again, but we will see. Anything less than enormous will be disappointing to the market," said Joe Saluzzi, co-founder of New Jersey-based brokerage Themis Trading LLC.


The Dow Jones industrial average <.dji> was up 35.56 points, or 0.27 percent, at 13,284.00. The Standard & Poor's 500 Index <.spx> was up 4.04 points, or 0.28 percent, at 1,431.88. The Nasdaq Composite Index <.ixic> was up 4.31 points, or 0.14 percent, at 3,026.62.


With just two weeks of trading left this year, the S&P 500 is up about 14 percent so far; it ended the year flat in 2011.


BlackRock, one of the world's biggest asset managers, expects the S&P 500, the broad measure of U.S. stocks, to scale new heights in 2013 and reach 1,600 by the end of the year. That's a gain of more than 12 percent from current levels and would surpass the index's previous peak of 1,576.09 set in 2007.


Negotiations intensified to avert the "fiscal cliff" - tax hikes and spending cuts that kick in early in 2013 - ahead of a year-end deadline as President Barack Obama and U.S. House of Representatives Speaker John Boehner spoke by phone on Tuesday after exchanging new proposals.


3M Co pointed to a profit rise of about 8 percent next year as the U.S. economy continues its slow recovery. The stock was down 0.5 percent at $93.23 in early trading.


Costco Wholesale Corp posted a 30 percent rise in quarterly profit, beating expectations, as the largest U.S. warehouse club chain saw sales rise and got a lift from higher membership fees. [ID:nL5E8NC3WN] But the stock fell 0.7 percent to $97.53 in early trading Wednesday, after having gained more than 1 percent in premarket trading.


(Editing by Bernadette Baum)



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WebMD to cut 14 percent of workforce to reduce expenses






(Reuters) – Health information website WebMD Health Corp said it will cut around 250 jobs, or 14 percent of its workforce, to reduce costs.


The company, which had about 1700 employees according to Thomson Reuters data, said it would take a charge of about $ 6 million to $ 8 million in the fourth quarter, primarily on severance and other restructuring-related costs.






WebMD, which is a popular and long-trusted destination for checking health and disease related information, has lost its sheen for investors in recent times as it struggled to convert its growing user base into a steady revenue stream.


The company named a former Pfizer Inc executive Cavan Redmond as CEO earlier this year, entrusting the industry veteran with the task of reviving the website’s flagging business.


Its previous CEO, Wayne Gattinella, resigned after the company took itself off the auction block in January.


WebMD also said on Tuesday that it plans to streamline its operations and focus resources on increasing user engagement, customer satisfaction and innovation, and expects these efforts to reduce annualized operating expenses by about $ 45 million.


While most of the job cuts will be effective at the end of the year, other cost saving actions will be implemented in the first quarter of 2013, the company said in a statement.


The company reported a third-quarter loss in November, compared with a profit in the year-ago quarter, and said revenue fell 13 percent.


WebMD’s shares, which have lost nearly 40 percent of their value over the past six months, were down about 2 percent in premarket trade. They closed at $ 13.85 on Monday on the Nasdaq.


(Reporting by Esha Dey in Bangalore; Editing by Roshni Menon)


Internet News Headlines – Yahoo! News


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Miranda Lambert & Luke Bryan Win Big at American Country Awards















12/11/2012 at 10:55 AM EST







Miranda Lambert and Luke Bryan


Scott Kirkland/PictureGroup; Dave Proctor/Startraks


Luke Bryan may want to "Kiss Tomorrow Goodbye," but he'll savor Monday night.

The headlining country artist was the big winner at the fan-voted American Country Awards, taking home nine awards, including entertainer of the year and male artist of the year.

"Rarely am I rendered speechless," he told reporters after his wins at the Mandalay Bay Las Vegas. "I don't know how to formulate a series of words that can truly tell how appreciative I am to the fans to make this night possible."

Though he's won previously at other award shows, Monday marked Bryan's first ACA wins.

But the more things change, the more they stay the same. Continuing her winning streak, Miranda Lambert didn't leave without some hardware. The "Over You" singer took home three awards, including female single of the year.

"Honey, we won an award," she said in her acceptance speech for female single of the year. Her husband Blake Shelton, who co-wrote the song, was unable to attend since he was in Los Angeles filming The Voice.

"We're on competing channels tonight. Blake and I live busy lives and we get to celebrate awesome moments together. I love that we have separate things," Lambert said. "As a couple I think it's important you have separate lives and hobbies and things to talk about when you get home."

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New tests could hamper food outbreak detection


WASHINGTON (AP) — It's about to get faster and easier to diagnose food poisoning, but that progress for individual patients comes with a downside: It could hurt the nation's ability to spot and solve dangerous outbreaks.


Next-generation tests that promise to shave a few days off the time needed to tell whether E. coli, salmonella or other foodborne bacteria caused a patient's illness could reach medical laboratories as early as next year. That could allow doctors to treat sometimes deadly diseases much more quickly — an exciting development.


The problem: These new tests can't detect crucial differences between different subtypes of bacteria, as current tests can. And that fingerprint is what states and the federal government use to match sick people to a contaminated food. The older tests might be replaced by the new, more efficient ones.


"It's like a forensics lab. If somebody says a shot was fired, without the bullet you don't know where it came from," explained E. coli expert Dr. Phillip Tarr of Washington University School of Medicine in St. Louis.


The federal Centers for Disease Control and Prevention warns that losing the ability to literally take a germ's fingerprint could hamper efforts to keep food safe, and the agency is searching for solutions. According to CDC estimates, 1 in 6 Americans gets sick from foodborne illnesses each year, and 3,000 die.


"These improved tests for diagnosing patients could have the unintended consequence of reducing our ability to detect and investigate outbreaks, ultimately causing more people to become sick," said Dr. John Besser of the CDC.


That means outbreaks like the salmonella illnesses linked this fall to a variety of Trader Joe's peanut butter might not be identified that quickly — or at all.


It all comes down to what's called a bacterial culture — whether labs grow a sample of a patient's bacteria in an old-fashioned petri dish, or skip that step because the new tests don't require it.


Here's the way it works now: Someone with serious diarrhea visits the doctor, who gets a stool sample and sends it to a private testing laboratory. The lab cultures the sample, growing larger batches of any lurking bacteria to identify what's there. If disease-causing germs such as E. coli O157 or salmonella are found, they may be sent on to a public health laboratory for more sophisticated analysis to uncover their unique DNA patterns — their fingerprints.


Those fingerprints are posted to a national database, called PulseNet, that the CDC and state health officials use to look for food poisoning trends.


There are lots of garden-variety cases of salmonella every year, from runny eggs to a picnic lunch that sat out too long. But if a few people in, say, Baltimore have salmonella with the same molecular signature as some sick people in Cleveland, it's time to investigate, because scientists might be able narrow the outbreak to a particular food or company.


But culture-based testing takes time — as long as two to four days after the sample reaches the lab, which makes for a long wait if you're a sick patient.


What's in the pipeline? Tests that could detect many kinds of germs simultaneously instead of hunting one at a time — and within hours of reaching the lab — without first having to grow a culture. Those tests are expected to be approved as early as next year.


This isn't just a science debate, said Shari Shea, food safety director at the Association of Public Health Laboratories.


If you were the patient, "you'd want to know how you got sick," she said.


PulseNet has greatly improved the ability of regulators and the food industry to solve those mysteries since it was launched in the mid-1990s, helping to spot major outbreaks in ground beef, spinach, eggs and cantaloupe in recent years. Just this fall, PulseNet matched 42 different salmonella illnesses in 20 different states that were eventually traced to a variety of Trader Joe's peanut butter.


Food and Drug Administration officials who visited the plant where the peanut butter was made found salmonella contamination all over the facility, with several of the plant samples matching the fingerprint of the salmonella that made people sick. A New Mexico-based company, Sunland Inc., recalled hundreds of products that were shipped to large retailers all over the country, including Target, Safeway and other large grocery chains.


The source of those illnesses probably would have remained a mystery without the national database, since there weren't very many illnesses in any individual state.


To ensure that kind of crucial detective work isn't lost, the CDC is asking the medical community to send samples to labs to be cultured even when they perform a new, non-culture test.


But it's not clear who would pay for that extra step. Private labs only can perform the tests that a doctor orders, noted Dr. Jay M. Lieberman of Quest Diagnostics, one of the country's largest testing labs.


A few first-generation non-culture tests are already available. When private labs in Wisconsin use them, they frequently ship leftover samples to the state lab, which grows the bacteria itself. But as more private labs switch over after the next-generation rapid tests arrive, the Wisconsin State Laboratory of Hygiene will be hard-pressed to keep up with that extra work before it can do its main job — fingerprinting the bugs, said deputy director Dr. Dave Warshauer.


Stay tuned: Research is beginning to look for solutions that one day might allow rapid and in-depth looks at food poisoning causes in the same test.


"As molecular techniques evolve, you may be able to get the information you want from non-culture techniques," Lieberman said.


___


Follow Mary Clare Jalonick on Twitter at http://twitter.com/mcjalonick


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Tech shares propel Wall Street higher; Fed eyed

NEW YORK (Reuters) - Wall Street opened higher on Tuesday, lifted by gains in shares of technology companies as investors picked up some recent laggards, including Apple.


Unexpected improvement in data out of Europe set the positive tone early as investors cast around for catalysts. The U.S. stock market has entered a traditionally quiet period heading into the end of the year, with thinner trading volumes.


The Nasdaq fared better than other major indexes, lifted by a 2 percent gain in Apple Inc . The company's shares have been beaten down recently, partly due to investors' booking profit before a possible rise in capital gains taxes next year. Apple was recently up 2.5 percent at $543.18.


Elsewhere in the tech sector, Intel Corp was up 2.3 percent at $20.54, while Hewlett-Packard rose 1.1 percent to $14.31.


Investors are picking up weaker stocks in hopes of a market turn around next year, said Michael Sheldon, chief market strategist at RDM Financial in Westport, Connecticut.


"I doubt there's going to be a lot of conviction based on volume when everything is said and done at the end of the day," said Sheldon.


The Dow Jones industrial average <.dji> gained 90.31 points, or 0.69 percent, to 13,260.19. The Standard & Poor's 500 Index <.spx> rose 11.14 points, or 0.79 percent, to 1,429.69. The Nasdaq Composite Index <.ixic> climbed 33.73 points, or 1.13 percent, to 3,020.69.


Though the pace of talks in Washington to avert impending U.S. tax hikes and spending cuts quickened, senior politicians on both sides cautioned that an agreement on all the outstanding issues remained uncertain.


The lack of progress in negotiations about the "fiscal cliff" has kept investors from making aggressive bets in recent weeks, though most expect a deal will eventually be reached.


In Germany, analyst and investor sentiment rose sharply in December, entering positive territory for the first time since May, a leading survey showed. The data helped drive European shares higher.


The U.S. Treasury is selling its remaining stake in insurer American International Group Inc , bringing an end to government ownership of the company about four years after a $182 billion bailout. AIG's shares were up 3.6 percent at $34.55.


The Fed will begin its policy-setting meeting on Tuesday. The central bank is expected to announce a new round of Treasury bond purchases when the meeting ends on Wednesday to replace its "Operation Twist" stimulus which expires at the end of the year.


(Editing by Kenneth Barry)



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