Updates: Sighting Keith Norden, calculating Wellcare's chances to be acquired
Wake up and good morning. Here are three things you might want to know about at the start of this new business week.
1. Keith Norden (left), who until recently ran the Tampa/Hillsborough Economic Development Corp. (now run by Rick Homans), is now a finalist to run Team Volusia Economic Development Corp. in Daytona Beach. The Daytona Beach News Journal reports that Norden is the most experienced of four finalists under consideration for the job that pays about $125,000. Norden ran the Tampa/Hillsborough EDC from 2009 until January of this year when his contract was not renewed -- a factor Norden will have to overcome in selling himself to Volusia County.
2. Tampa's Wellcare Health Plans has a "30 to 50 percent" chance of being acquired in this latest cycle of big insurers buying smaller managed care companies, says Wall Street's Goldman Sachs, as reported in the Wall Street Journal. Such a strong possibility follows Wellpoint's $4.9 billion purchase of Medicaid insurer Amerigroup. As the merger and acquisition market heats up, Tampa Bay's "larger" public companies are more vulnerable to being picked off by larger predators, as we just say in the purchase of Clearwater's Lincare by German giant Linde.
3. Who's in charge? Tom Grady ran Florida's Office of Financial Regulation in Tallahassee (before then moving on briefly to head Citizens Property Insurance), slashing statewide offices even as Florida tops the nation in mortgage fraud. Here's a closer look at Grady's tenure in this Tampa Bay Times coverage.
-- Robert Trigaux, business columnist, Tampa Bay Times