Tampabay.com
JULY 10, 2009

Sink's net worth drops to $8.6 million

Chief Financial Officer Alex Sink, the former Bank of America exec who wants to be governor, saw her net worth drop by $1.5 million between 2007 and 2008, according to her latest financial disclosure paperwork.

It went from $10.1 million at the end of 2007, to $8.6 million at the end of 2008. The biggest drop came in a blind trust under her name, which went from $6 million to nearly $4.7 million. Her retirement accounts also dropped, from $1.6 million to less than $1.3 million.

The value of some assets, including her Thonotosassa and Tallahassee homes, dropped slightly (from $1.24 million for the Thonotosassa home to $1.15 million, and from $520,000 to $500,000 for the Tallahassee residence.)

Also among Sink's dropping income sources is her CFO salary, which is seeing the affects of budget cuts: $133,293 in 2008, compared to $133,136. This year she'll make even less: $128,972.

One asset saw an uptick: the "Sink Family L.P.", of which she owns 28 percent, went from $2.3 million in value to nearly $2.5 million. That investment reaped in $97,000 in income for Sink last year, compared to $86,000 in 2007.

The Sink Family L.P. consists of property in North Carolina that houses several businesses, including a medical supply company, a Dollar Store and a Golden Corral in the rural town of Mount Airy, N.C., where Sink grew up.

Sidenote: The Times/Herald got curious about the Golden Corral, an all-you-can-eat buffet, and pulled health department inspection reports for the past five years. Turns out the eatery, a tenant of the Sink property, has been repeatedly cited in recent years for food safety violations ranging from roaches and flies to a moldy ice machine and an unsanitary dishwasher.

The restaurant, on a main thoroughfare in the town of 8,500, recently almost lost its food service permit because inspectors found mold in the ice machine. The all-you-can-eat restaurant corrected the problem soon after receiving the suspension notice last month, but health department inspection records dating back to 2004 show a pattern of violations — roaches and flies, a faulty dishwasher, a rusty meat grinder, dirty toilets, and chicken stored at improper temperatures.

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