Tag: Humana

Jones vs. Jones: A mystery over the true identity of Louisville’s biggest political donor

Business First logoBusiness First has a curious story about political campaign contributions in its current issue both in print and on its website. (We won’t link to the web version because it’s only for subscribers). The story lists the Louisville area’s top 30 individual donors for the 2016 election cycle — this includes White House candidates — and says whether their gifts went mostly to Democrats or to Republicans. The names were compiled for the business weekly by the well-regarded Center for Responsive Politics, a non-partisan group in Washington that tracks campaign finance.

Here’s what’s odd; bear with us, because it’s complicated. The story says the No. 1 donor is a retired Dr. Mark Jones, who’s said to have given a total $200,950 primarily to Republicans. He’s far and away the most generous donor listed; No. 2 is the philanthropist Christy Brown, who’s given $76,600 (mostly to Democrats), according to the list.

But Boulevard wonders whether the center has erred. We used its searchable database to build our own list of the biggest Kentucky donors for the 2016 election cycle. At the top of our list: one David A. Jones, identified only as a Louisville retiree who gave $200,000 on Sept. 14 to the Kentuckians for Strong Leadership PAC.

David Jones Sr
Jones

He’s almost certainly Humana co-founder David A. Jones Sr.; the PAC lists his $200,000 gift, and his West Main Street office address in its annual 2015 Federal Election Commission report. (Moreover, if you search solely for any David A. Joneses, you turn up another five donations totaling $41,500 from a retired David A. Jones Sr., including $33,400 on May 27, 2015, to the Republican National Committee. However, it doesn’t look like these gifts were from his son, venture capitalist and Humana director David A. Jones Jr.; these appear to be from Jones Sr.)

Back to the Business First story. The center’s database does, indeed, show two contributions by a Dr. Mark Robert Jones of Louisville, but totaling only $950. And unlike Business First’s account, Jones isn’t identified as retired. The donations went to 21st Century Oncology; it’s unclear whether that’s a PAC.

Did the center mistakenly credit the $200,000 from David Jones Sr. to Dr. Jones and his $950, pushing the doctor to the top of the list? It certainly seems possible. That would mean the Humana co-founder is the real top donor, with a total $241,500. We’ll watch Business First for any clarification in the days ahead.

McConnell,Mitch-012309-18422-jf 0024
McConnell

This much is certain: The Kentuckians for Strong Leadership PAC is solidly Republican. “Our highest priority in 2014,” its website says, “was ensuring the reelection of U.S. Senate Majority Leader Mitch McConnell. In 2016, we turn our attention to delivering control of Kentucky’s State House of Representatives to the Republican Party.”

For Humana’s top brass, Anthem-Cigna’s private ‘squabbles’ offer a window on mega-merger pitfalls

A news summary, focused on big employers; updated 6:12 p.m.

anthem-cigna-logos-thumb-400Quarrels have broken out behind the scenes of Anthem’s proposed acquisition of Cigna, as the health insurers seek regulatory approval for their landmark $48 billion deal, according to a series of letters reviewed by The Wall Street Journal. “People on both sides say the squabbles could delay or derail antitrust approvals, which are typically harder to obtain if both parties aren’t in sync,” the Journal is reporting today.

The deal was announced July 24, three weeks after Aetna and Humana announced their own planned $34 billion tie-up, as big insurers sought scale and efficiency in a shifting U.S. health care industry. The Anthem-Cigna dissension suggests their proposal may fall behind in the regulatory review,  worrisome because it’s “thought to have better odds if reviewed alongside Aetna-Humana,” the Journal says.

On Friday, Aetna CEO Mark Bertolini said he expected his company’s purchase of Humana would close during the second half of the year. He also said he couldn’t rule out the possibility Aetna might move its headquarters from its historic Hartford home once the deal is complete.

In other news, new federal overtime regulations could force employers to boost the pay of about 149,000 Kentuckians, although mostly at small and mid-sized companies. Starting in December, salaried employees earning $47,476 or less annually must be paid time-and-a-half for working more than 40 hours in a week; that’s twice the current level (Courier-Journal).

Aetna chief doesn’t rule out HQ move; CJ owner Gannett now looks like a takeover target, too

A news summary focused on big employers; updated 3:53 p.m.

aetna-headquarters
Aetna’s headquarters in Hartford, where it was founded in 1853.

HUMANA: Aetna’s CEO did little today to allay concerns the insurance giant might leave its historic Hartford home after its workforce doubles to 110,000 with the pending Humana merger. Mark Bertolini told the annual stockholders meeting that Aetna was required to establish a Kentucky presence when it sought to buy Humana. “Having said that,” he told shareholders, “the rest of all of our real estate is under review.” He expects the $37 billion deal to close in the second half of the year. (Hartford Courant). Humana’s stock closed at $169.60 a share, up less than 1%, but enough to make it the best-performing stock this week among Boulevard’s portfolio of big local employers.

GANNETT: Tribune Publishing is reportedly turning the tables on Gannett by planning a hostile offer to buy the owner of The Courier-Journal, USA Today and more than 100 other dailies. “I am going to bid on Gannett,” CEO Michael Ferro told five dozen Los Angeles Times staffers, according to a confidential source. “I have lawyers working on it.” That would counter Gannett’s sweetened all-cash offer this week, to $15 a share, or about $475 million, excluding  $385 million of outstanding debt (Politico Media).

UPS CEO David Abney doubts package delivery by drone will be as ubiquitous as some forecast. Speaking to a Boston business conference, he said: “I don’t believe there are going to be 10,000 to 20,000 of these flying over metro Boston delivering dog food and toothbrushes. I just don’t believe the economics of those work out” (Boston Business First).

AMAZON, which is developing Prime Air to transport packages to customers within 30 minutes via drone, could learn something from DHL’s drone delivery program (Business Insider).

PAPA JOHN’S: Baseball-related pizza promotions are now so pervasive, they extend to the local level, thanks to Papa John’s status as the “official pizza” of 22 big league clubs (538).

BROWN-FORMAN is now offering pregnant employees 12 weeks’ paid leave, about twice as much as the most generous maternity leave plans of the area’s 10 biggest employers (Insider Louisville).

CHURCHILL DOWNS: Which horses stand the best chances at tomorrow’s 141st Preakness Stakes (New York Times).

Donald Trump
Trump

In other news, presumptive GOP White House nominee Donald Trump addresses the 70,000-member NRA annual meeting today at the Kentucky Exposition Center (NBC).

This just in:

Report: Brown-Forman considers Finlandia sale, and Ford says 6,500 applied to buy new supercar

A news summary focused on big employers; updated 11:28 a.m.

GT
The new Ford GT costs $400,000.

92721BROWN-FORMAN is reportedly considering a sale of Finlandia vodka amid a broader effort to focus on its whiskey business; the company spent $200 million to assemble the vodka business from 2000 to 2004. Brown-Forman declined to comment on the report (Bloomberg). Last month, the company said it would spend $413 million to buy Scottish single-malt distiller BenRiach Distillery Co.

FORD said 6,506 people applied worldwide to buy the new EcoBoost-powered, carbon-fiber GT supercar; hundreds included videos to bolster their chances to buy the first 500. The $400,000 car will be available the end of the year (press release). Also, total vehicle sales in Ford’s 20 traditional European markets last month were the best since April 2009, with passenger car sales at their highest level since 2010 (press release).

KFC: A barrel of Montana oil fell so low this winter, it was cheaper than a big bucket of KFC: $22.16 for the oil vs. $24.99 for a 16-piece meal (Billings Gazette).

HUMANA: Aetna has spent at least $119 million for lawyers, investment advisors and other services in connection with its planned $37-billion purchase of Humana (Modern Healthcare).

GE: Negotiators for GE Appliances and a local union are trying to improve warehouse efficiency to prevent 217 jobs from being outsourced (Insider Louisville).

In other news, Al J. Schneider heirs have settled a feud that would allow for the sale of the Galt House and the late real estate moguls other holdings (Courier-Journal). The Bernard A. Dahlem family has donated $500,000 to the Catholic Education Foundation so more students can attend Archdiocese of Louisville schools (Courier-Journal). The new owners plan to demolish a Highlands house possibly dating to the 1830s to make way for a new, custom-built home; they paid $605,000 for the property last fall (Courier-Journal).

Papa crooks nab 600-lb. store safe, and Schnatter’s chopper noise ticks off neighbors

A news summary focused on big employers; updated 8:33 a.m.

John Schnatter
Schnatter

PAPA JOHN’S: Two super-strong thieves were caught on video dragging a 600-pound safe with $1,300 from a Papa John’s in Edinburgh on Monday, leaving police baffled (Mirror). CEO John Schnatter‘s frequent helicopter trips to and from his property in tony Anchorage have caused enough noise for some neighbors to write complaint letters to the city (WDRB). (Terrific story, BTW!)

AMAZON: Walmart is testing a two-day shipping subscription service and building a regional delivery network as the retail giant takes on Amazon (Wall Street Journal).

KFC launches program in India to fight childhood hunger (Times of India).

GE has signed a three-year contract to be exclusive appliance provider for developer Perry Homes of Houston (Business First).

HUMANA: Aetna doesn’t have any plans to leave Obamacare exchanges in 15 states — and may, in fact, expand; Aetna has agreed to buy Humana for $37 billion (Wall Street Journal).

In other news: Walmart and its charitable arm have donated more than $22 million to Kentucky non-profits in the past fiscal year (WDRB). A candy store will open May 23 in the former Why Louisville space on Bardstown Road (WDRB, too).

With revenue down, CafePress’ CEO has a turnaround plan; shares closed yesterday at $3.13, dead even, but down 33% from a year ago (Business First). U.S. stock futures were poised to open up as oil prices traded near 2016 highs (CNBC).