Tenet Reports Wider Loss for 2nd Quarter (more uninsured patients)

http://www.latimes.com/business/la-fi-tenet4aug04.story
Tenet Reports Wider Loss for 2nd Quarter (more uninsured patients)
The troubled hospital company cites restructuring charges and the cost of treating uninsured patients.
By Denise Gellene Times Staff Writer August 4, 2004

Tenet Healthcare Corp. reported a wider second-quarter loss Tuesday because of hefty restructuring charges and uninsured patients' mounting bills and said subpoenas had been served regarding hospitals in Louisiana, Missouri and Tennessee.

The nation's second-largest for-profit hospital company, which has been the target of civil and criminal investigations since 2002, also said that its chief financial officer, Stephen Farber, had decided to quit and return to work on Wall Street.

Tenet said its plan to move to Dallas from Santa Barbara played a role in Farber's decision.

In early trading on the New York Stock Exchange, Tenet's shares sank 11%, recovering to close at $10.81, down 3%. <snip>