Corporate Report: Oct. 29 - Nov. 4

Whitney National Bank building South Tampa branch

Bucking the trend of using existing buildings due to consolidation in the industry, Whitney National Bank is building a new branch location at the intersection of South Dale Mabry Highway and San Rafael Street in South Tampa, scheduled to be completed in December.

The new location will give the New Orleans-based bank 18 locations in Pasco, Hillsborough, Pinellas, Manatee, and Sarasota counties. Whitney has been doing business in the region since 2006.

Whitney National Bank is a subsidiary of Whitney Holding Corp., which lost $62 million in 2009.

2011 Salary Guide says Gulf Coast jobs pay less

Business specialists in Fort Myers may be making less than 90 cents on the dollar compared to counterparts on the other end of Alligator Alley, suggests the 2011 Salary Guide, published by California-based research firm Robert Half International.

According to the report, Fort Myers employees earn 87.6% of the national average, while Tampa and St. Petersburg workers bring in 94%. The Miami/Fort Lauderdale market pays its employees 110% of the national average.

Jacksonville employees earn 94.5% of the national average for a given occupation, the report estimates, while Orlando workers earn 101%.

The study offers job-specific salary information based on nationwide trends to provide hiring managers with a starting point for negotiations in the midst of the highly competitive hiring environment. Researchers used data from the U.S. Department of Labor to produce an adjustment index number for many of the nation's markets.

Tampa's Masonite Inc. buys Lifetime Doors

Masonite Inc., of Tampa, made its fifth acquisition of the year —Lifetime Doors Inc., a Hills, Mich.-based door manufacturer, for an undisclosed amount.

John Hauss, president at Lifetime Doors at the time of the purchase, will remain with Masonite in a senior advisory role. Headquartered in Tampa, Masonite Inc. sells residential and commercial doors in more than 85 countries.

Telefónica hires Syniverse for roaming in Latin America

Telefónica SA selected Tampa-based Syniverse Technologies to provide roaming business management services for 11 of its properties across Latin America, working directly with these operators to speed up the implementation of hundreds of agreements.

“Delays in putting roaming agreements into operation can mean money left on the table for the operator,” Tony Holcombe, president and CEO of Syniverse, said in a press release. “By relying on our specialists, Telefónica operators will speed time to market for roaming services and, as an added benefit, be able to dedicate internal resources to other critical areas of their businesses.”

Sunz Insurance Co. covering three more states

With the additions of Montana, Indiana and North Carolina, St. Petersburg-based Sunz Insurance Co. is now allowed to write workers' compensation policies in 13 states, one shy of reaching its goal of completing the integration process that was put in place earlier this year through the acquisition of Brentwood National Insurance Co.

Last month, Sunz reported it had expanded into Louisiana, Mississippi, Texas and Arizona. It also expanded into Kentucky, Tennessee, Arkansas, Alabama and Georgia earlier this year.

“We are hopeful that the expansion will not only improve our relationships with our existing client base, but will accommodate those companies who have been calling to ask when we would be able to write business in their state,” Scott Robertson, president of Sunz Insurance, says in a press release.

To accommodate the increasing volume, Sunz hired Paul Hodges as underwriting manager. Sunz also plans to apply to write business in an additional 10 states.

Brown & Brown Florida buys T.R. Jones & Co.

Brown & Brown of Florida, a subsidiary of Tampa- and Daytona Beach-based Brown & Brown Inc., purchased the assets of T.R. Jones & Co., a subsidiary of Beecher Carlson Holdings Inc.

With total annual revenues of $6.7 million, T.R. Jones & Co. includes Thomas R. Jones Inc. and T.R. Jones & Co. of Broward L.C. The companies have provided commercial and personal lines of property, casualty and employee benefits insurance in Florida for more than 50 years.

The company will continue to operate from its Homestead, Key Largo, and Ocean Reef offices. The agency's Winter Park operations, which does business as Kraft Insurance Agency, will combine with Brown & Brown of Florida's Maitland office.

Brown & Brown Inc. offers insurance and reinsurance products and services, as well as risk management, third-party administration, managed health care and Medicare set-aside services and programs.

WellCare Health Plans hires two executives

WellCare Health Plans Inc. has chosen Jesse Thomas as president of its south division, and Lawrence Anderson as senior vice president and chief human resources officer.

Thomas, with more than 25 years in the industry, will be responsible for operations in Georgia, Texas and Louisiana. He most recently was president of Molina Healthcare of Michigan and Ohio. Prior to that, he served as the chief administrator of the Office of Healthcare Purchasing for the Illinois Department of Healthcare and Family Services, responsible for healthcare procurement functions for four state agencies. Thomas also held executive positions with AmeriChoice, HealthPlans of America, CareFirst BlueCross BlueShield, and Total Health Care Inc.

Anderson most recently was senior vice president of human resources for ValueOptions, a managed care company.

WellCare Health Plans Inc. provides managed care services exclusively for government-sponsored health care programs.

Redstone Investments buys Summit Advisors

Redstone Investments, a commercial real estate firm headquartered in Youngstown, Ohio, purchased Tampa-based Summit Advisors Inc. for an undisclosed amount.

The division of Redstone Asset Management Services LLC now owns and/or manages more than 4.5 million square feet of real estate in 12 states, a press release said. Former Summit President Patrick McGuire will join Redstone as senior vice president. Redstone Investments, in business since 1991, has run an office in Tampa since late 2005.

Biggest Loser clothing launching on HSN

A “The Biggest Loser”-inspired clothing line will debut this month on the HSN TV channel and Web site. The BL Body Collection, licensed through NBC Universal Television Consumer Products Group and Reveille LLC, features athletic apparel based on the hit NBC weight-loss reality TV series.

BL Body, created by designer Bruno Schiavi, provides additional support to heavier individuals or those who experienced recent weight loss.

Ranging in price from $35-$75, the collection features 27 styles in nine color combinations.

“The new line was born out of a need we saw with the contestants each season and trying to find clothing that supported all areas of their bodies through their transformations,” Chad Bennett, vice president of brand development and production at Reveille, said in a press release. “BL Body fills a need on the show and in the marketplace as we work to inspire, empower and motivate our viewers to embark on their own healthy lifestyle.”

Roskamp testing tobacco compound, thought to inhibit Alzheimer's

The Roskamp Institute will soon begin clinical trials on RCP-006, a compound found in tobacco, for the treatment of Alzheimer's disease.

In laboratory tests with cells, the compound — developed by Rock Creek Pharmaceuticals, a subsidiary of Star Scientific in Virginia, and made available to Roskamp through its affiliate SRQ Bio LLC —inhibits inflammation and the production of amyloid, both of which cause the disease.

Previous studies have shown that certain tobacco ingredients may protect against Alzheimer's. RCP-006 is believed to be responsible for some of the positive medicinal effects of tobacco use.

Roskamp scientists are also working with researchers at Johns Hopkins School of Medicine to find other medical applications of RCP-006, which is also found in tomatoes, peppers and eggplant.

“It's ironic that a compound with the potential medical benefits of RCP-006 was hidden in tobacco,” Roskamp Institute Director Dr. Michael Mullan said in a press release.

The nonprofit Roskamp Institute is devoted to understanding causes and finding cures for neuropsychiatric and neurodegenerative disorders. SRQ Bio LLC has a financial stake in Star Scientific.