Are attempts to repeal Obamacare dead for the foreseeable future? Might the Affordable Care Act (ACA), now in dire limbo, be revived? Will Medicaid coverage for the most in need be gutted? Can Republicans now in charge of the White House, Senate and House ever agree to deliver a substitute health care plan that people actually like?
Sorry, there's no prescription currently available to clear the fog of uncertainty ahead for health insurance....
Look at Frontier Communication's performance so far this year and this image might come to mind:
Wile E. Coyote stepping off a cliff. While holding an anvil.
The cartoon's funny. Frontier's plight is not. After spending more than $10 billion to buy Verizon's FiOS business to provide Internet, cable TV and landline phone services to homes and businesses in the Tampa Bay, southern California and other markets, Frontier's business is struggling mightily....
They are a business backbone in Tampa Bay we hear little about, at least compared to the high-profile likes of Raymond James Financial, HSN or Bloomin' Brands. Few have household-recognizable names, but a handful boast brands well-known to most.
Combined, the top 44 of them employ nearly 60,000 people, mostly in this metro area. Together, their combined revenues top $25 billion.
"They" are the major private corporations whose headquarters reside in the Tampa Bay market. They are not publicly traded, though plenty of them are big enough to become public companies if they wanted to do so. ...
The latest citrus industry story coming out of Tallahassee is even grimmer than the usual coverage of a state orange crop beset by disease, overpriced land for groves and a dwindling consumer thirst for OJ.
"The final forecast of the 2016-2017 season for Florida's struggling citrus industry shows the orange crop falling 16 percent from the previous season — which, itself, had been at a five-decades low."...
Imagine a Florida startup that recorded an impressive $26 million in sales during its first full year in business in 2011, logged more than $900 million in sales by 2016, and this year expects to increase revenues to nearly $2 billion with 5,000 employees.
Oh yeah, this Florida startup last month was sold for $3.3 billion — that's "billion" with a B — making it one of the biggest-ever deals in the Florida world of entrepreneurs....
The sale of one of Tampa Bay's core — if kitschy — public corporations like HSN does not happen often. QVC's announced multi-billion-dollar purchase of HSN this past Thursday will continue to send ripples through the regional economy for years. Yes, Tampa Bay loses a major public corporate headquarters — its seventh largest by market value — but gains a financially more muscular parent company that we need to learn more about. The deal also reminds us what happens when the stock market soars, empowering public companies with added value that can be used to buy other companies and grow. Here are five takeaways to ponder:...
What corporate legacy comes to mind with Thursday's news that larger TV shopping rival QVC will scoop up St. Petersburg's HSN for $2 billion and change? Here are three to consider:
• A TV/digital retailer with a market value of more than $11 billion, QVC chose to gobble up its relatively puny rival in HSN in its moment of weakness, when its CEO had departed and its market value was little more than a 10th the size of its buyer....
06/30/17 Working Life
The lives lost at Tampa Electric's Big Bend Power plant in Apollo Beach are a tragedy, the latest frustrating example of too many people dying in too many ways at work in Florida.
They are newcomers to Tampa Bay ready to make their mark. They are veterans of Tampa Bay institutions stepping into new and bigger jobs. They are embarking on major development projects that will start to be noticed soon. They are a trio of executives competing to run one of this area's top corporations at a challenging time. They are looking for ways to resuscitate a downtown that is resisting conventional remedies. At this midyear moment, they are ten key business people to watch for the rest of 2017....
Adios, VinikVille! Hello Water Street Tampa.
Okay, so maybe the at-long-last name chosen for Jeff Vinik-Cascade Investment's $3 billion, 50-plus-acre redevelopment isn't quite brimming with 21st century pop. No "CoolSpace 2.0" or "BoltsTown" names for this mammoth project.
It's a far more sedate Water Street Tampa.
Well, it's certainly dignified.
It's definitely historical, named for Old Water Street. That's the street that runs through what will be the retail core of the project, right in front of the Tampa Marriott Waterside and the Tampa History Museum. That is the key street Strategic Property Partners (the Vinik-Cascade joint venture heading the project) wants to transform into what it calls "the new heart" of downtown Tampa, connecting people from the current downtown to the waterfront....
We're nearly halfway through 2017 already, a perfect time to step back from the daily grind of business and ask: How's Tampa Bay's economy doing?
At first glance, the answer should be: Splendid. The metro-wide unemployment rate is down to a remarkable 3.8 percent. People are relocating to Tampa Bay and Florida in general at a rapid clip. And just last month we learned Tampa Bay will host the 2021 Super Bowl, its fifth....
06/20/17 Real Estate
A nationwide look at housing finds the United States increasingly split between the have-mores (those with fast appreciating home values) and the have-less (those with flat or declining home values). It's a troubling trend that raises questions for Tampa Bay and Florida's dependence on newcomers and retirees to keep fueling the state's hot economy.
People migrating from states and metro areas in rising housing markets, typically along the east coast, will bring that enhanced nest egg of home equity with them when they head to the Sunshine State. Others, especially those from the Midwest where home prices have grown the least or even stalled, may find their new start or planned retiree life in Florida to be more expensive than they anticipated....
At graduation time, the buffet table of advice from commencement speakers seems endless. And often indigestible.
There are exceptions.
"Whether you are in Tipitina's, the French Quarter or the Oval Office, no good can ever come from tweeting at 3 a.m.," chided actor Helen Mirren to her rapt audience at Tulane University.
"We build resilience into the people we love. And we build it together, as a community. That's called collective resilience," Facebook COO Sheryl Sandberg told Virginia Tech grads. "It's an incredibly powerful force — and it's one that our country and our world need a lot more of right about now."...
06/15/17 Economic Development
TAMPA — What are the most pressing problems re-emerging urban downtowns like Tampa must overcome to blossom into a place people, businesses and investors will want to pour their hearts and money into?
Established startup companies with innovative solutions to that question: We Want You.
That, in a nutshell, was the pitch delivered Wednesday evening to about 100 entrepreneurs and urban enthusiasts by Dreamit Ventures managing director Andrew Ackerman at The Attic bar inside the Tampa Bay WaVE incubator building in downtown Tampa. Acknowledging his first visit to Tampa, Ackerman said he's spearheading a new "urban technology" accelerator program starting in September in Tampa. The program aims to pluck eight to ten of the most innovative startups (those with some track record and customers already) for an intense Dreamit-run program to prep these businesses for growth....
Update: Retail chain Gymboree sought bankruptcy protection on Sunday, June 11, after this story was first written.
Another day, another downed retail chain.
The latest victim? Bankrupt BCBG Max Azria Group LLC said Friday it has agreed to a comprehensive restructuring that includes the possible sale of all its assets to Marquee Brands LLC and Global Brands Group Holding Ltd. BCBG is a contemporary women's designer fashion business based in California with area locations at International Plaza, Westshore Plaza and Westfield Countryside in Clearwater....