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Posts tagged: Politics

Phil Trenary and the Greater Memphis Chamber

Phil Trenary has been named the new president and CEO of the Greater Memphis Chamber.

Trenary is the second leader of the economic development agency in a row to come from the aviation industry. Trenary, the former president and CEO of Pinnacle Airlines, is taking over from former Northwest Airlines executive John Moore, who retired in January. And the previous chairman of the Chamber’s Board of Directors was former Memphis and Shelby County Authority president and CEO Larry Cox.

Though the Chamber hired the Centre Group to conduct a national search for Moore’s replacement, the Chamber Board’s executive committee selected Trenary, at least in part, because of his established roots in economic and community development circles.

City Councilman Harold Collins, who privately urged Trenary to stay in Memphis and consider the leadership position at the Chamber, applauded the selection.

“I always thought (Trenary) would be an excellent choice because he already knows the lay off the land in Memphis having spent a considerable amount of time leading Pinnacle and being a good corporate citizen in Memphis,” said Collins. “I think (Trenary) being named the new president and CEO makes it a seamless transition.”

Trenary takes the reigns of the organization as it seeks to loosen poverty’s grip on the Memphis area through job creation and retention efforts, which include an increased focus on early childhood education and local politics. Currently, the Chamber is urging the city to switch to a 401(k) retirement system instead of relying on its traditional pension program, which is severely underfunded.

Trenary said this week he has been impressed with the coordinated commitment local stakeholders – from individuals to neighborhood organizations, community groups and companies – have shown toward moving Memphis forward. Trenary also said he was particularly excited  by the prospect of a new generation of Memphians getting involved.

“The young people understand that something is happening here and we have to understand and embrace that and if we do we’ll be off to the races,” Trenary said.

Trenary, 59, lives Downtown with his wife, Bridget and their children, Justin, Brittney and Pearce.

Actuarial Study Predicting Soaring Health Care Costs Failed to Disclose Industry Ties

A study produced by the Society of Actuaries predicted medical claim costs could jump 32 percent nationally by 2017 for individual policies under the Affordable Care Act. The research study was widely written about in the press, including The Daily News.

Kaiser Health News and Politico Pro are now reporting the study failed to note the close ties between the actuaries making the forecasts and the insurance industry.

“Undisclosed in the SOA report was the fact that about half the people who oversaw it work for the health insurance industry that is warning about rate shock. The chairman of society committee supervising the project was Kenny Kan, chief actuary at Maryland-based CareFirst BlueCross BlueShield,” Kaiser Health News and Politico Pro reported.

Optum, the sister company of UnitedHealthcare, performed the research for the study. UnitedHealthcare is the nation’s largest private health insurer, the news organizations jointly reported.

Supporters of the Affordable Care Act pointed out that the actuary society’s study failed to factor in the potential for competition to lower prices and the subsidies people will receive to purchase coverage.

FedEx says it expects Postal Service bid decision “shortly”

FedEx Corp. said it expects a decision “shortly” from The U.S. Postal Service on whether it will continue providing domestic air transportation services for its First-Class, Priority and Express Mail services.

The Memphis-based shipping giant disclosed that it anticipates a contract announcement soon in its most recent quarterly regulatory filing.

The U.S. Postal Service has solicited proposals for the delivery of these services after FedEx Express’ current contract ends in Sept. 2013. FedEx warned that the services could be transitioned to another provider, and that even if the Memphis-based company does retain the contract, the terms and conditions of the new arrangement may be “less favorable.”

FedEx also said that any changes in the Postal Service’s operations, network, services offerings or pricing could have an adverse result on FedEx’s financial results. Because the independent government agency is both a customer and a vendor for FedEx, the Postal Service’s financial struggles could also have an adverse impact on FedEx.

The Postal Service has said it could run out of money if Congress does not allow it to change its business model and increase profitability. Yesterday, The Postal Service said it would not end Saturday delivery of first-class mail, citing Congressional opposition.

Dansette

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