Newspaper article The Florida Times Union

Morning Briefing

Newspaper article The Florida Times Union

Morning Briefing

Article excerpt

********** CORRECTION October 17, 2001

A Bush administration plan to help insurance companies withstand future terrorism shock says that the insurance industry would be responsible for the first $10 billion in claims. Amounts over $10 billion but equal to or less than $20 billion would be split evenly between the government and the industry. The government would pay 90 percent of costs over $20 billion. Because of incorrect information provided by The Associated Press, a brief on Page F-2 yesterday mischaracterized who would pay for the claims.

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BLUE CROSS PLANS JANUARY JOB CUTS

Blue Cross and Blue Shield of Florida recently notified some employees that their positions will be eliminated in January. The company asserts all employees in these positions will be rehired in other spots at Blue Cross.

Ed Gallegos, director of talent acquisition and staffing, said there are no layoffs, early retirement offers or any other terminations at this time. The company is in the midst of budget planning, and Gallegos said there are no firm numbers on how many positions will be affected.

"We are looking, unlike other companies, perhaps, to place our employees within the company," Gallegos said.

ATLANTIC STATES BANK OPENS BRANCH

Atlantic States Bank opened a branch on San Pablo Road yesterday, its third in the First Coast market. The 5,000-square-foot office is in the San Pablo Professional Office Park, near the Mayo Clinic. Atlantic, a subsidiary of First Citizens BancShares Inc. of Raleigh, N.C., also operates branches on Baymeadows Road and in Ponte Vedra Beach, as well as more than 40 other centers across Florida and the areas in and around Atlanta.

REGIONAL FIRMS ON FAST-GROWERS LIST

Professional Placement Resources, a Jacksonville Beach company that provides health care staffing services, and a Gainesville Internet services company, Atlantic.Net, have landed on Inc. magazine's list of America's 500 fastest-growing companies.

Professional Placement Resources, which was founded in 1995 by Dwight Cooper and Keith Frein, ranked 70th on the list. The company has 55 employees and generated about $10.2 million in sales in 2000, according to Inc. magazine. Atlantic.Net, which was started in 1994 by two University of Florida students, Marty Puranik and Jose Sanchez, made the list for the second consecutive year, being ranked 223rd. The company has 98 employees with revenue of $7.6 million. Last year, Atlantic.Net ranked 350th. The annual list is based on the percentage increase in sales from 1996 through 2000.

BUSH PLAN WOULD BOLSTER INSURERS

The Bush administration offered up a plan yesterday to help insurance companies withstand a future terrorism shock while keeping the government out of the insurance business. …

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