Business in brief: Fire fears lead to GM vehicle recalls
General Motors Corp. is recalling 1.5 million vehicles because of potential engine fires.
GM says there have been no reports of any fires or injuries.
Some of the recalled vehicles are no longer in production.
The recall includes the 1998-1999 Oldsmobile Intrigue, the 1997-2003 Pontiac Grand Prix, 1997-2003 Buick Regal, and the 1998-2003 Chevrolet Lumina, Monte Carlo and Impala.
It involves vehicles with a 3.8-liter V6 engine. The government says drops of oil could fall into the exhaust system and cause a fire in the engine.
Washington
Former CEO seeks delay of prison term
Former Qwest CEO Joseph Nacchio asked the Supreme Court on Monday to put off the start of his prison term for his conviction on insider-trading charges.
His lawyers filed an emergency appeal with Justice Stephen Breyer after the federal appeals court in Denver turned down Nachio’s latest bid to stay out of prison while he asks the high court to review his conviction in 2007 involving the sale of $52 million worth of stock in Qwest Communications International Inc.
Nacchio has been ordered to report to a prison camp in Minersville, Pa., by noon today to start a six-year term.
Jurors convicted Nacchio of selling the stock based on nonpublic information that Denver-based Qwest faced trouble meeting its sales targets.
Nacchio has been free since his conviction and has been appealing his conviction, sentence and the date he must report to prison.
INDIANAPOLIS
Express Scripts buying WellPoint unit
Express Scripts Inc. stands to gain considerable negotiating clout from its $4.7 billion deal to buy the pharmacy benefits management businesses of health insurer WellPoint Inc., and experts say that could mean savings for customers buying prescription drugs.
St. Louis-based Express Scripts said Monday it planned to buy WellPoint’s NextRx subsidiaries in a cash-and-stock deal.
Express Scripts is the third-largest pharmacy benefits manager, and the deal likely would vault it past No. 2 CVS Caremark and push it close to the top stand-alone company, Medco Health Solutions Inc., based on prescriptions managed.
From wire reports