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Corporate Report: Dec. 24 - Dec. 30

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  • | 7:51 p.m. January 3, 2011
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Tervis Tumbler hires Wolfson, reshuffles management

Having experienced sustained double-digit growth the past five years, Venice-based Tervis Tumbler Co. has formed a new management team and appointed Barry Wolfson as president and CEO.

Laura Spencer, the current president and CEO, was named chief financial officer. Wayne Varnadore was promoted to chief operating officer from vice president of operations, and Rich Kaplan is now chief sales and marketing officer after serving as vice president of sales and marketing.

Both Wolfson and Spencer will serve on the company's board of directors.

“Tervis has the opportunity to become a dominant consumer brand nationally. [These changes] give us the leadership talent we need to continue our strong success,” Norbert Donelly, company chairman said in a press release.

Wolfson, 61, has been consulting with Tervis for the past six years. Prior to that he was president and CEO of Flexible Products Co., a Marietta, Ga.-based, $100-milion global manufacturer of specialty chemical products.

Tervis Tumbler manufactures crystal-clear, insulated drinkware. Its sales have grown five-fold since 2000, and it expects to have revenue of more than $75 million this year. Recently, the company began a 35,000-square-foot expansion to its North Venice manufacturing facility.

Inuvo sells Web site to Kaplan affiliate

Clearwater-based Inuvo Inc. has sold most of the assets of its education-oriented Web property and passed its trade debt to an affiliate of Kaplan Inc. for $750,000.

Inuvo previously announced plans to sell the Web site this year and accounted for it as a discontinued operation.

Proceeds from the sale will help reduce Inuvo's bank debt. In addition, the company will report, in the current quarter, a gain on the sale of discontinued operations of $500,000.

“With [this] sale, we have completed our plan to sell non-core businesses and can now focus entirely on the growth of our direct and exchange segments,” Richard K. Howe, CEO of Inuvo, an online marketing services company, said in a press release.

WellCare, Results Cos. partner on call center add-on

In an action expected to create 200 new jobs, Tampa-based WellCare Health Plans Inc. and Dania Beach-based The Results Cos. have combined their staffs to expand WellCare's call center operations in Winter Haven that assist Medicare and Medicaid beneficiaries.

“During a time when our state is facing significant economic challenges, we are delighted to help stimulate job growth,” Christina Cooper, WellCare's Florida and Hawaii Division president, said in a press release.

The Results Cos. provides business process outsourcing services, such as inbound and outbound customer management. It employs 5,000 agents in 16 locations worldwide.

WellCare Health Plans provides managed care services primarily for Medicaid and Medicare programs.

SinoFresh HealthCare to launch two new products in 2011

SinoFresh HealthCare Inc., in Venice, plans to launch two new products in 2011 — its Antiseptic Sore Throat Spray and Antiseptic Travelers Nasal Spray.

SinoFresh plans to market the new homeopathic, germ-killing nasal spray at travel-related venues, such as hotels and cruise ships.

“We're proud of our product development team and see these new products as part of our unique and developing corporate success story for 2011 and beyond,” SinoFresh CEO David Olund said in a press release. “These new products, combined with our premier Antiseptic Nasal and Sinus Care Spray, will help to ensure continued growth and advancement.”

SinoFresh HealthCare makes and distributes nasal, oral and topical antiseptic germ-killing products.

Diamondhead Casino Corp. intends to sell land

Largo-based Diamondhead Casino Corp. has entered into a letter of intent to sell 25 acres in Diamondhead, Miss., to Phoenix Gaming and Entertainment LLC for $1 million per acre for development of a casino.

Diamondhead Casino subsidiary Mississippi Gaming Corp. owns, 404 acres of land in Diamondhead zoned for such a facility.

Diamondhead Casino also agreed to give Phoenix Gaming and Entertainment an additional 15 acres for roads and right-of-way requirements, greenery, buffering, on-site mitigation and a possible parking garage.

As part of the deal, Diamondhead Casino would retain the right to construct its own casino on the remaining land, but Phoenix Gaming and Entertainment would get the right of first refusal for any future gaming development on the property.

The letter of intent is non-binding and will terminate on Jan. 31 unless a definitive agreement is reached.


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