Fresh storm and health care coverage

Tropical Storm Debby has made for a busy week at the Bradenton Herald.

I'm sure by now you all have seen the array of stories and photo galleries, which actually helped Bradenton.com flirt with record high page views this week.

The storm also kept us working overtime on the business desk. The week opened with a story on how the storm impacted industries across Southwest Florida both positively and negatively. We also had an exclusive story tracking the restaurant sector, which had a bad start to the week to say the least.

Now, emergency management officials are soliciting businesses to report any uninsured storm losses for the possibility of reimbursement, while also keeping tabs on damage to public property.

We also today will be meeting Florida Power & Light President Eric Silagy to talk about all things going on with the utility giant. Both the proposed rate increase and Debby reaction will be among them, so look for that.

We will have local reaction at Bradenton.com today when the ruling is released on President Barack Obama's controversial health care reform. I know right now businesses across Southwest Florida are sitting on pins and needles.

(UPDATE 10:35 a.m.: The Supreme Court has upheld the entire health care law with a 5-4 vote.)

For a full primer on the health care reform, check this story out.

And be sure to follow me on Twitter @JoshSalman for the latest business updates.

Help a small business win $250,000

It appears to be contest season in Manatee County, small business contests that is.

As I reported in my story today, an entrepreneur who makes specialty bath soaps from her Lakewood Ranch home is one of five national finalists vying for $15,000 in small business support as part of a contest sponsored by PostNet, a Denver-based business solutions franchise.

Keep an eye out because the winner will be announced later this week, and we will have updates for you right here and on Bradenton.com. If you haven't checked out this company yet, do so.

Kristi's Klean Kreations makes some of the most unique products I have ever seen, with soaps ranging from college mascots to sea creatures and even foods like cheeseburgers and bacon. That's right, a bath soap that looks and smells exactly like the greasy breakfast staple. They're pretty popular too.

My personal favorite is the beer soap (pictured).

Also, area resident Cheryl Brady has entered her business Vet Care Express Animal Ambulance into the ongoing "Mission Small Business" contest sponsored by Chase Bank and LivingSocial. The program will be awarding a total of $3 million to U.S. small business to highlight their importance in the economy.

Brady needs 250 votes on Facebook for her application to be reviewed by the contest panel and a chance for $250,000. People can vote for Brady here.

In just two years, Brady has seen business climb significantly. She has transported more than 1,300 area pets, while tripling both call volume and revenues. Brady would use the winnings to add vehicles and increase the company's call service area.

For the latest business updates, follow me on Twitter @JoshSalman

Oh, and stay dry out there!

Citizens Property Insurance Corp. 101

The eight-member board of directors for Citizens Property Insurance Corp. on Wednesday unanimously named Barry Gilway, an insurance industry veteran from Maryland, as the state-run carrier's new president.

The vote displaced long-time banking regulator and Gov. Rick Scott supporter Tom Grady (pictured) from his interim post. Grady was among those seeking the permanent seat. Get all of the details here.

The decision comes just two days after Grady came to the Bradenton Herald newsroom to meet with editors and myself to discuss issues facing the industry giant. The stop was part of statewide tour to meet with lawmakers, policy holders and community leaders before he forms a recommendation on whether or nor to raise Citizens premiums.

Grady believes a rate increase will likely be needed to make Florida's insolvent insurance industry more competitive. Citizens, which was created to become the insurer of last resort, instead has become the insurer of default.

With more than $1.4 million customers, Citizens is growing a rate of 1,000 new policies a week. The insurer has $500 billion in total exposure and less than $10 in hand to cover those expenses, records show.

Industry experts say Citizens is destined for financial failure should major storm rip through the Sunshine State, likely causing many more private companies to bow from the market.

I'm writing a story that explains all of these financial problems, the pros and cons of a Citizens rate increase, and detailed explanation of how the state carrier works -- which many Citizens policy holders still don't understand. For all of that, be sure to grab a copy of the Bradenton Herald on Monday or check back at Bradenton.com.

UPDATE: You can read the story here, which has all of the details you could ever want to know.

Also today, the Manatee Chamber of Commerce will unveil its coveted small business awards during the annual luncheon. Of course, I will be covering the event.

I'll post updates as soon as the results are announced. I also will be tweeting live from the event, so if you don't already, follow me on Twitter @JoshSalman

Who's the DeSoto Square secret buyer?

The unidentified buyer of DeSoto Square Mall has become the best kept secret in town.

Simon Property Group Inc. is more than $20 million underwater on the property, which was first built in 1973. The company has been delinquent on its payments 10 of the 12 months, allowing its $61.9 million mortgage to slip into foreclosure this year, according to real estate records.

The largest owner of malls in the world is poised to shed one from its inventory, as a deal is pending with an unidentified buyer that plans to turn the aging mall into a discount shopping center.

But who is this mystery party involved?

A retail broker familiar with the deal said the buyer carries a national brand name most will recognize.

Benderson Development Corp. seems to have a hand in almost all commercial activity going on between Sarasota and Manatee, including the proposed 115-store University Town Center. But a company official said Tuesday they were staying out of this one.

Taubman Centers Inc., also a partner on the Town Center project, is a national mall developer and big player in retail. But Taubman specializes mostly in upscale centers, and it's unlikely they would be the ones that opt to renovate DeSoto into a discount mall.

The biggest developer of Outlet-style shopping centers is Simon, which also owns Ellenton Premium Outlets, but they're the sellers not the buyers.

Wesfield, which owns two malls in Sarasota and another just north in Brandon, could be viable option. A spokesman for the company declined to speculate about any potential deals this week, but I get the feeling it's not them ... just a hunch. They like to stick to traditional and more upscale shopping malls, which again is different from the plans now being drawn up at DeSoto Square.

Who are we overlooking? What's your best guess on the new buyer? And will you shop there again if they make some renovations and add outlet stores?

For the latest business updates, follow me on Twitter @JoshSalman

Chamber announces beautification awards

The Manatee Chamber of Commerce has recognized three area businesses for their beautification efforts.

The Image Manatee Beatification Awards for the second quarter were handed to River Wilderness Golf & Country Club for the multi-family residential category, Fish Hole Miniature Golf for the small retailers category and the Ellenton Premium Outlets (pictured) for the large retail category.

The chamber selects beautification award winners each quarter, with a final winner for the year announced during the annual meeting each February. Finalists are nominated by Chamber members, and the winners are voted through a committee.

Other finalists this quarter included: Lofton Meadows Apartments, Water’s Edge Bradenton, Atlanta Bread Company, Irene’s Resort Wear, Island Cabana, Rice’s Appliances, Budget Self Storage Cortez Road, Holiday Inn Airport, and Holiday Inn Express.

"First impressions are very important and lasting," Chamber President Bob Bartz said. "We need to make good first impressions on new residents that may be coming here, new businesses that may be coming here, and new tourists we want to come back. It's important to continue to work on this."

For the latest business updates, follow me on Twitter @JoshSalman