doctor......heal thy self
Frist sold stock just before a decline
Trade involved a family firm
By Jonathan M. Katz, Associated Press | September 21, 2005
WASHINGTON -- The Senate majority leader, Bill Frist, a potential presidential candidate in 2008, sold all his stock in his family's hospital corporation, about two weeks before it issued a disappointing earnings report and the price fell nearly 15 percent.
Article Tools
Printer friendly
E-mail to a friend
Nation RSS feed
Available RSS feeds
Most e-mailed
Reprints/permissions
More:
Globe Nation stories |
Latest national news |
Globe front page |
Boston.com
Sign up for: Globe Headlines e-mail | Breaking News Alerts Frist held an undisclosed amount of stock in Hospital Corporation of America, in Nashville, the nation's largest for-profit hospital chain. On June 13, he instructed the trustee managing the assets to sell his shares and those of his wife and children, said Amy Call, a spokeswoman for Frist.
Frist's shares were sold by July 1, and those of his wife and children were sold by July 8, Call said. The trustee decided when to sell the shares, and Frist had no control over the exact time they were sold, she said.
Hospital Corporation of America shares peaked at midyear, at $58.22 a share on June 22. The price fell to $49.90 on July 13, after the company announced that its quarterly earnings would not meet analysts' expectations. Yesterday, the shares closed at $48.76.
The value of Frist's stock at the time of the sale was not given.