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BlueCross BlueShield CEO to keynote Chamber luncheon
Keynote speaker Vicky Gregg, chief executive officer of Chattanooga-based BlueCross BlueShield of Tennessee, will speak at the 2012 Mel Bedwell Small Business Person of the Year luncheon on Monday, May 7, at the Museum Center at 5ive Points at noon.
The annual event, sponsored by the Cleveland/Bradley Chamber of Commerce, honors an outstanding small businessperson in Cleveland and Bradley County for their success in six areas: staying power, growth in number of employees, increase in sales, innovativeness of product or service offered, response to adversity and evidence of contributions to the community.
“This is a time for us to acknowledge the economic contributions of small businesses in Cleveland and Bradley County,” Lois Egan, chairman of the Small Business Committee, said. “We also felt that addressing the healthcare industry would be an appropriate topic for this audience.”
Prior to becoming CEO of based BlueCross BlueShield of Tennessee, the state’s largest health plan that serves more than 3 million members in Tennessee and across the country, Gregg occupied several senior leadership positions in the company, including president and chief operating officer, executive vice president, and chief executive officer of Volunteer State Health Plan, the company’s Medicaid HMO.
Before joining BlueCross, Gregg worked for a national, publicly traded health plan where, as market vice president, she oversaw operations, strategic development, acquisition and health plan service-area expansion. A nurse by education, Gregg has over 25 years of experience in diverse healthcare environments, including clinical care, hospital administration, long-term care and healthcare benefits and financing.
Former Senate Majority Leader Bill Frist (R-TN) appointed Gregg to the United States National Institutes of Health Commission on Systemic Interoperability in 2004, which worked to develop a strategy for building a nationwide electronic health records network. In 2006 Tennessee Gov. Phil Bredesen appointed Gregg to the newly created E-Health Advisory Council, a 16-member panel created to make recommendations on how to establish an interoperable healthcare data exchange in Tennessee.
Gregg currently serves on several national boards, including the BlueCross BlueShield Association, the Council for Affordable Quality Healthcare and the Healthcare Leadership Council. She chairs the board of the National Institute for Health Care Management Foundation. Additionally, Gregg serves on the board of directors for America’s Health Insurance Plans, where she previously served as chairperson.
She has received numerous awards and recognitions, including Modern Healthcare Top 25 Women in Healthcare, Health Ethics Fellow of the Trust, Vanderbilt School of Nursing Honorary Alumni Award and Business Tennessee’s Most Powerful list. Gregg was named the 2009 Tennessee Woman of Distinction.
She recently announced her retirement as CEO effective at the end of the year.
Gregg is married to Dr. Fred Gregg III, an ophthalmic surgeon, and has two children.
The Small Business Person of the Year award honors the memory of Mel Bedwell, who was known for his energy, determination, ingenuity, honesty, enthusiasm and loyalty, all traits necessary for a successful small business owner. Mel was an owner with Jack Smith of Cleveland Business Machines.
In addition to presentation of the Bedwell Award, a Business Showcase will highlight local businesses beginning at 11:30 a.m. Chamber members interested in participating in the tabletop exhibits should contact Bernadette Douglas, executive vice president, at 472-6587 or email@example.com.
Tickets to the event also are available by calling the Chamber office at 472-6587 or by registering online at www.clevelandchamber.com through the events calendar. Single tickets are $20, and corporate tables of eight are $175.
More Business News
Last Update on March 07, 2014 18:27 GMT
WASHINGTON (AP) -- U.S. hiring improved in February from the previous two months despite a blast of wintry weather, likely renewing hopes that growth will accelerate this year.
The Labor Department says employers added 175,000 jobs last month, up from just 129,000 in January, which was revised up from 113,000.
The unemployment rate rose to 6.7 percent from a five-year low 6.6 percent. More Americans started looking for work but didn't find jobs. That's still an encouraging sign because more job hunters suggest that people were more optimistic about their prospects.
The figures were a welcome surprise after recent economic reports showed that harsh weather closed factories, lowered auto sales, and caused existing-home sales to plummet.
WASHINGTON (AP) -- The U.S. trade deficit widened slightly in January as a rise in imports of oil and other foreign goods offset a solid increase in exports.
The Commerce Department says the trade deficit increased to $39.1 billion, up 0.3 percent from December's revised $39 billion deficit.
Exports climbed 0.6 percent to $192.8 billion, led by increased sales of U.S.-made machinery, aircraft and medical equipment. Imports also rose 0.6 percent to $231.6 billion, reflecting a 9 percent jump in imports of petroleum. Imports of food and machinery also rose.
The trade deficit is the difference between imports and exports. A higher trade deficit acts as a drag on economic growth because it means U.S. companies are making less overseas then their foreign competitors are earning in U.S. sales.
PORTLAND, Maine (AP) -- L.L. Bean says it had a record year for profits and saw revenue growth of 3 percent.
CEO Chris McCormick told workers on Friday that after four consecutive years of growth, the Maine-based retailer is ready to accelerate expansion plans. He says the privately held company plans its largest single-year capital investment and will spend an additional $100 million on website changes, retail expansion and business systems.
The company's performance beat the industry average.
L.L. Bean's board was happy enough with the revenue gain to authorize an 8 percent bonus for full-time workers. That's the biggest bonus since 2005.
In a memo to Bean's 5,100 full- and part-time workers, McCormick said the company has been conservative for the past few years and is now ready to "grab market share."
NEW YORK (AP) -- Shares of Coupons.com are close to doubling in their first day of trading on the New York Stock Exchange.
The stock gained $14.40, or 90 percent, to $30.40 in morning trading.
Coupons.com Inc. delivers digital coupons and coupon codes to consumers. It priced its initial public offering of 10.5 million shares at $16 per share. The company had initially expected to offer 10 million shares and expected them to be priced between $12 and $14 per share.
The Mountain View, Calif., company raised $168 million from the IPO.
Coupons.com had 2013 revenue of $167.9 million, up from $112.1 million in the prior year.
The stock is trading under the "COUP" ticker symbol.
CHILD SEAT RECALL
DETROIT (AP) -- The federal government is ordering child seat maker Graco to explain why it didn't include 1.8 million infant seats in a recall for faulty buckles.
The National Highway Traffic Safety Administration says Graco has until March 20 to explain why last month's recall of 3.8 million child seats didn't include infant seats, which have the same buckles that can get stuck on the child seats.
Graco has said the child seat buckles get stuck because children drop food or drinks on them. It is sending replacement buckles to owners for free. It will also send replacement buckles for infant seats if owners request them.
NHTSA says Graco will face fines of $7,000 per day if its response is late or incomplete.
Graco said Friday it will comply with the request for an explanation.
TRENTON, N.J. (AP) -- A federal audit finds New Jersey did nothing wrong when it used a no-bid contract to hire a firm to clean up debris left behind by Superstorm Sandy in 2012.
But the U.S. Homeland Security Department says that towns that continued to use the firm for more than 60 days without putting the work out to bid might not be fully reimbursed by the federal government.
The contract and the firm, Deerfield Beach, Fla.-based AshBritt, drew the ire of lawmakers months after Sandy struck. That marked the first major political debate over how Gov. Chris Christie's administration responded to Sandy.
The audit was made public Thursday by Christie's office.
Christie's office criticized Democrats and the media for treating the contract as a scandal.
MIAMI (AP) -- A former law partner of convicted Ponzi schemer Scott Rothstein has been charged with conspiring to violate federal campaign contribution laws.
Court records show charges were filed Friday against Russell Adler, who was a principal in the now-defunct Fort Lauderdale law firm Rothstein Rosenfeldt Adler. The firm was liquidated after Rothstein's $1.2 billion Ponzi scheme was exposed in fall 2009.
Adler is charged with helping orchestrate thousands of dollars in bundled contributions from the firm's employees and attorneys to John McCain's 2008 campaign for president and Charlie Crist's run for the U.S. Senate. The contributions were illegally reimbursed by the law firm.
There is no indication that McCain or Crist knew of the illegal scheme. Adler has consistently denied wrongdoing.
Rothstein is serving a 50-year prison sentence.
Company confirms feds investigate visa use
An international tech consulting firm confirms the federal government is investigating its use of U.S. work visas.
A Mu Sigma spokeswoman told The Associated Press authorities asked the company to provide information related to its visas, and the company is cooperating fully.
Privately held Mu Sigma is headquartered in Illinois. CEO Dhiraj Rajaram also runs the company from offices in India.
Federal records show the company has brought in nearly 150 H-1B temporary workers since 2009. The Justice Department did not immediately respond to requests for comments.
The company declined to clarify whether the investigation is targeting H-1B or business visas.
Last year, tech giant Infosys settled a federal case for $34 million over allegations it used business visas to bring in temporary workers hired out for consulting work.
NEW YORK (AP) -- Coca-Cola CEO Muhtar Kent's pay fell 16 percent last year because his performance-based bonus took a hit.
Muhtar Kent's pay package was worth $18.2 million for 2013, according to a regulatory filing made with the Securities and Exchange Commission on Friday. That's down from the $21.6 million he earned the previous year.
The decline was primarily the result of a lower performance-based bonus, which fell to $2.2 million, from $6 million the previous year. That was the result of lower sales volume growth of just 2 percent for the year, compared with 4 percent the previous year.
A new cap was also put into place for the bonus, based on feedback from shareholders.
The AP's calculation counts salary, bonuses, perks, stock and options awarded to the executive during the year.
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