Aug 31, 2017

Tenet Healthcare CEO steps aside

LM Otero / AP

Tenet Healthcare CEO Trevor Fetter will leave his post no later than next March, the company said Thursday. The for-profit hospital and outpatient center operator will look for Fetter's replacement in the meantime and also will "refresh the composition of its board."

Between the lines: Put aside the cordial tones in the press release. Fetter and the rest of Tenet have had hedge fund Glenview Capital Management breathing down their necks and demanding changes to return to profitability. It's also no coincidence that Tenet, in announcing Fetter's departure, enacted a "poison pill" plan to prevent large shareholders from buying bigger stakes in the company.

One stat: Fetter has made $122 million since 2010, when the Affordable Care Act went into effect. He'd led Tenet since 2003.

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Hungary's Viktor Orbán granted sweeping powers amid coronavirus crisis

Viktor Orbán. Photo: Michal Cizek/AFP via Getty Images

Hungary's parliament passed a law Monday to allow Prime Minister Viktor Orbán almost unlimited power, for an indefinite period, to fight the coronavirus outbreak.

Why it matters: Hungary has taken a sharply authoritarian turn over the past decade under Orbán, and its likely that he and other strongman leaders around the world will seek to maintain powers they gain during the current crisis long after it's over.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9:30 a.m. ET: 737,929 — Total deaths: 35,019 — Total recoveries: 156,507.
  2. U.S.: Leads the world in cases. Total confirmed cases as of 9:30 a.m. ET: 143,055 — Total deaths: 2,513 — Total recoveries: 4,865.
  3. Federal government latest: The White House will extend its social distancing guidelines until April 30.
  4. Trump latest: The president brushed aside allegations that China is spreading misinformation about the origin of the coronavirus on "Fox & Friends."
  5. Business updates: Americans are calm about their retirement savings despite coronavirus fallout.
  6. World updates: Israeli Prime Minister Benjamin Netanyahu will self-isolate after an aide tested positive for coronavirus.
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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BIG3 to create a hybrid reality show about quarantine basketball

Illustration: Aïda Amer/Axios

Sports are on pause, and there's no timetable for their return. In the interim, leagues, teams and athletes are getting creative with ways to keep fans engaged.

The latest: A "quarantined reality show basketball tournament," courtesy of the BIG3, the upstart 3-on-3 basketball league founded by Ice Cube and his longtime business partner Jeff Kwatinetz.