William Mc Guire's Headache At United Healthcare

United Healthcare CEO William McGuire seemed immune to managed care's woes. But after a surprise $900 million write-off that quashed its deal to buy Humana, the physician-turned-exec is struggling to regain investor confidence. "Bellwether stocks are not supposed to do this," snaps Merrill Lynch analyst Roberta Walter. She thinks it will take a year of solid earnings to restore the stock, off 34% since the announcement on Aug. 6.

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