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Letter to the editor

Talk of the bay: Port director sails through evaluation

By Times Staff
Published September 10, 2007

Under his contract, Richard Wainio must hear from his bosses this month whether they intend to keep him as Tampa's port director after his contract expires in March. After receiving his latest evaluation from port commissioners, Wainio's job looks secure. He scored excellent overall ratings from four of five members. The only holdout, Tampa Mayor Pam Iorio, scored his performance as "very good." Wainio earns $229,465 a year. His public relations director noted in an e-mail Friday that the boss doesn't receive health benefits, saving the Tampa Port Authority $12,000 annually. Also, he wrote, directors of other large U.S. ports get "substantial performance bonuses and other miscellaneous benefits that far exceed Mr. Wainio's compensation package."

Sales nothing to write home about

Want a sneak peek at area housing numbers for August? No need to wait for the Florida Association of Realtor compilation. House and condo sales for Pinellas, Hillsborough and Pasco counties for the month that just ended are now public, courtesy of the Pinellas Realtors Organization at www.pinellasrealtor.org. (Click on "Stats" on the right side of the screen.) The good news is that Tampa Bay area inventory - the number of homes for sale on the market - is the lowest it's been this year. The bad news is that sales in August were off big time over sales in August 2006. Only Pasco County showed a sales increase (and that's just month to month) from July to August of this year. Total sales for August in Pinellas, Pasco and Hillsborough counties were 2,374. Listings totaled 40,896.

Bank directors sell shares for less

Even though First Banks Inc. of St. Louis agreed to pay $3.40 for each share of troubled Coast Bank of Bradenton, two Coast directors have shed thousands of shares to the tune of two bucks and change. Last week Alex White, a member of the bank's board of directors from Tampa, sold 5,190 shares for $2.60 apiece. The sale followed similar dumping by director Michael Ruffino in late August. In prepared statements, both men cited personal reasons for the timing of the sales. Why sell for less when First Banks says it will pay $3.40 a share? Inquiring minds want to know.

Insurer settles; Florida gets $2.6-million

Florida insurance regulators have announced a 36-state settlement agreement with United Healthcare Insurance after a review of the HMO's alleged violations of state law involving claims-payment services. The total settlement could top $20-million, with Florida's share estimated at $2.6-million. New York received $4-million, the largest ever health-related settlement entered into by that state. The settlement comes after three years of talks between United and the states. The company, a subsidiary of Minneapolis-based UnitedHealth Group Inc., must also submit to annual reviews, and could be further fined if benchmarks are not met.

[Last modified September 7, 2007, 22:35:26]