Wanna buy the Cubs? You'd be Piniella's boss
By TIMES WIRES
Published November 3, 2006
Wanna buy the Cubs? You'd be Piniella's boss
In the very same week that new circulation numbers for most newspapers were tepid to anemic, the Tribune Co. - owner of such major newspapers as the Los Angeles Times, Chicago Tribune, Newsday, Orlando Sentinel and Florida Sun-Sentinel in Fort Lauderdale, two dozen TV stations and, of course, the Chicago Cubs - began seeking bids for pieces of its vast holdings. Though the LA Times reports no media companies seem particularly interested in more newspapers, some interest emerged from private investing firms that seem to surface whenever there's a potential business fire sale: Bain Capital, Carlyle Group, a partnership of Texas Pacific Group and Thomas H. Lee Partners, and an alliance of Providence Equity Partners, Madison Dearborn Partners and Apollo Partners. Initial bids are due by week's end. Who knows? Just-hired Cubs manager Lou Piniella may have a new corporate owner before he even takes the field at Wrigley.
Wellcare logs first quarterly $1-billion
Once upon a time it took a company a good, long while to reach $1-billion in revenue. Well, meet Tampa health insurer Wellcare Group, which this week said it doubled its revenue from just one year ago and hit $1-billion in the third quarter of this year. That's warp speed, Scotty. Wellcare CEO Todd Farha, an emerging heavyweight in Republican fund-raising circles, is enjoying company's success. His 1.16-million shares as of late October gives him a stake in this company of at least $70-million. Wellcare shares were under $35 a year ago. Now they're over $61. Wellcare, you might recall, was founded by area philanthropist Kiran Patel.
Tampa title insurer wears a white hat
Who says the real estate industry has tumbled off its high horse? Tampa's Alpha-Omega Title Insurance Co. recently lassoed two honors: a 2006 Small Business of the Year award from the Greater Tampa Chamber of Commerce and Mayor Pam Iorio's Award for Outstanding Community Service. Iorio cited Alpha-Omega's role with 17 non-profit groups.