Business Briefs: CBL names head of mixed-use projects

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photo Robert Snetman

CBL names head of mixed-use projects

CBL Properties has named Robert Snetman as vice president of mixed use to lead a new initiative to initially focus on adding medical and other types of office uses across its portfolio.

"Reinventing our properties is a major priority for our company," said Stephen Lebovitz, president and CEO of CBL Properties, in a statement. "We are emphasizing new and innovative uses that ensure our properties continue to be successful and add value to their markets."

He said Snetman has 23 years with CBL and has demonstrated a track record of success in developing new revenue streams that enhance the value of its assets.

Aetna profit rises without Obamacare

Aetna trumped third-quarter earnings expectations and raised its 2017 forecast again, even as the health insurer's withdrawal from the Affordable Care Act's insurance marketplaces contributed to a revenue miss.

The nation's third-largest insurer balanced a 5-percent drop in revenue with a bigger decrease in health care costs and improvements in its Medicare Advantage business. Overall net income jumped 39 percent, to $838 million.

While detailing third-quarter results Tuesday, Aetna leaders stayed quiet on a report from late last week that drugstore chain and pharmacy benefits management giant CVS intends to buy the insurer. Chairman and CEO Mark Bertolini said at the start of a call with analysts that they wouldn't comment on "rumors or speculation."

In the third quarter, Aetna Inc. said its Medicare Advantage enrollment grew more than 7 percent to about 1.5 million people. Medicare Advantage plans are privately run versions of the government's Medicare coverage program for the elderly.

Exxon upgrades plants to settle pollution case

Exxon Mobil settled air pollution violations with the Trump administration by paying a $2.5 million civil penalty and promising to spend $300 million on pollution-control technology at plants along the Gulf Coast.

Federal officials said Tuesday that the settlement will prevent thousands of tons of future pollution, including cancer- causing benzene, from eight petrochemical plants in Texas and Louisiana.

Some environmentalists attacked the settlement as insufficient punishment for years of violations by the giant oil company, while others said it addressed excess burning or flaring of gas, a key pollution problem at Exxon plants.

The deal settles allegations that Exxon violated the federal Clean Air Act by releasing excess harmful pollution after modifying flaring systems at five plants in Texas and three in Louisiana. The allegations date back more than a decade.

Cox sells papers in Florida, Texas

Atlanta-based Cox Media Group said Tuesday it plans to sell its newspapers in West Palm Beach, Fla., and Texas.

"We have made the decision that we will be better equipped to operate our newspapers in Atlanta and Ohio, where we have the integrated opportunity with our TV and radio operations," CMG President Kim Guthrie said.

The media company said it will sell the Palm Beach Post, Palm Beach Daily News, the Austin American-Statesmen and related community newspapers in Texas. CMG owns a number of television and radio stations across the country, as well as The Atlanta Journal-Constitution and Dayton Daily News in Ohio.

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