InvestorsHub Logo
Followers 337
Posts 30395
Boards Moderated 3
Alias Born 09/18/2005

Re: mick post# 402

Thursday, 10/19/2006 1:10:12 AM

Thursday, October 19, 2006 1:10:12 AM

Post# of 438
Hey, check this out. Looks like it's about to happen.....a stock and a guru are going to the sanctuary ( ).

To: Creede Bighorns who wrote (272) 10/18/2006 8:37:29 PM
From: WR61499 Read Replies (1) of 274

One of your first Flamingo stocks is all grown up now and ready to fly on its own!

HealthSouth Rejoining NYSE
Wednesday October 18, 12:19 pm ET
HealthSouth to Rejoin New York Stock Exchange Next Week

BIRMINGHAM, Ala. (AP) -- Medical services provider HealthSouth Corp. said Wednesday it would rejoin the New York Stock Exchange next week, 3 1/2 years after it was delisted amid revelations of a $2.7 billion accounting fraud.

Shares of HealthSouth, which have been traded over the counter, will resume trading on the exchange on Oct. 26, according to a statement by Chairman Jon Hanson.

The Birmingham-based company released Hanson's remarks ahead of a meeting in which shareholders were scheduled to vote on a reverse stock split aimed at boosting share prices.

HealthSouth stock fell 8 cents to $5.20 a share in midday over-the-counter trading.

HealthSouth, which grew into a huge rehabilitation chain but is realigning its business to concentrate on post-acute care, is moving ahead with the planned divesture of its outpatient rehabilitation division, its diagnostic division and its surgical centers, Hanson said.

"All these developments represent significant milestones in HealthSouth's recovery and is a powerful symbol of the progress we have made as a company," said Hanson's statement.

Fifteen former HealthSouth executives pleaded guilty in the fraud, and jurors convicted a 16th in a trial. Fired chief executive Richard Scrushy was acquitted in the scheme, but he was later convicted in a separate government bribery scheme linked to his years at HealthSouth.

GodBless - NoDoubt - creede

~> #board-7229

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.