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Talk of the bay: Parent firm to sell workers' comp servicer

By Times Staff
Published January 25, 2008

PMSI, which provides workers' compensation services for insurers, has been put on the block by its parent, drug distributor AmerisourceBergen Corp. PMSI is headquartered in Tampa, where it employs about 790 people at three locations. An additional 70 employees work at remote U.S. locations. PMSI contributed $460-million in revenue and $28-million in operating income to AmerisourceBergen in fiscal 2007, the company said. Citigroup is managing the sale and the company is reviewing initial bids from both strategic and financial buyers.

Collapse is crux of home sales pitch

It had to happen sometime: First American Development Group, a Sarasota company, is using the real estate market's "collapse" as a marketing tool. A news release issued this week said the firm had decided to liquidate a portfolio of 78 Tennessee homes in a "desperate" move to avoid bankruptcy. "I'm practically giving the homes away," president Rod Khleif said. "Selling them at 59 cents on the dollar is a decision I may regret down the road."

Changes at top coming for Alico

John R. Alexander is stepping down as chief executive of Alico Inc. at the end of June and will be replaced by the land-management company's president, Dan Gunter. Alexander will remain chairman of Alico, based in LaBelle. The majority of Alico's shares are owned by descendents of legendary citrus baron Ben Hill Griffin Jr. Alexander, Griffin's son-in-law, took over the company three years ago following a family court battle over control of Alico. Alexander's son, state Sen. J.D. Alexander, was recently added to Alico's board.

Utility takes pride in turning green

Who's green now? Tampa Electric said Thursday that it met the greenhouse gas reduction commitments made to the Chicago Climate Exchange, cutting emissions 4 percent below the average from 1998 through 2001. TECO Energy, Tampa Electric's parent company, joined the Chicago Climate Exchange in 2004. Members make voluntary but legally binding commitments to reduce greenhouse gases. Companies that meet or exceed their reduction targets sell their "surplus" to participating polluters that couldn't meet their reduction targets. Tampa Electric, often vilified by environmentalists for its coal-burning power plants at Big Bend, started a 10-year, $1.2-billion environmental improvement plan in 1998.

[Last modified January 24, 2008, 23:10:48]