A potential Cigna-Humana tie-up may make a lot of business sense. But neither company's investors seem too excited about the idea, Axios' Pete Gannon writes.
Zoom in: Humana is largely a pure play in the Medicare Advantage insurance market and enjoys a higher trading multiple that reflects its growth prospects in that space. Its investors haven't appeared excited about giving that up.
Cigna, the larger company, is focused on the commercial market. Its investors could be worried about dilution in a cash and stock deal and overpaying for Humana's higher-multiple business.
Why it matters: Companies are reconsidering college degree requirements in certain positions due to labor shortages, or the realization that there are more workers with sufficient skills to do the job.
Mark Cuban tells Axios that he never plans to run for any elective office, cooling off speculation that began after he struck a deal earlier this week to sell his majority stake in the Dallas Mavericks.
Driving the news: Cuban had previously told NBC News that he had "no plans" to run for president in 2024, but hadn't issued a blanket denial of all political ambition.
The OpenAI saga not only highlights the need for strong communication — it highlights the need for strong communicators in the board room.
Why it matters: As Axios' Dan Primack points out, "A lousy board of directors, or a nonexistent one (e.g., FTX, Twitter), creates the conditions for chaos."
The UAW's historic strike earlier this year cost the Big Three automakers billons in profits, new data shows.
Why it matters: The automakers — GM, Ford and Stellantis — still expect to rake in multibillion dollar profits this year, in part buoyed by high vehicle prices and increased trucks and SUVs sales.
A deal reportedly brewing between health insurance giants Cigna and Humana will likely face antitrust challenges over their respective pharmacy benefit management businesses, experts tell Axios.
Details: The combination would be huge. Cigna is now valued at $78 billion and Humana is at roughly $60 billion.
The Federal Reserve’s preferred measure shows inflation was 3% in October compared to the same month a year ago, the Commerce Department said on Thursday.
Why it matters: The data is the latest to confirm that price gains across the economy are continuing to slow, allowing some relief for the American consumer.
Driving the news: The latest numbers from the U.S. Bureau of Economic Analysis, out Wednesday, showed that total corporate profits in the third quarter grew 3.3% to an annualized rate of $3.28 trillion.
Above is a first look at the top businesses in this year's American Opportunity Index, which measures companies' effectiveness at developing talent to drive business performance and advance individual careers.
Why it matters: Companies that outperform their peers in retaining employees can save massively on turnover costs.
Butchery, cheesemongering, cake decorating and soon pizza-making: Whole Foods Market is reviving the flagging art of culinary apprenticeships.
Why it matters: In an era of labor shortages, apprenticeships are a proven workforce training model that inspires employee loyalty and drives customer satisfaction.
Driving the news: "I think the Chinese leadership at this juncture is overwhelmed by its internal challenges," Taiwan President Tsai Ing-wen told Andrew Ross Sorkin.
/2023/11/27/1701119695195.gif?w=3840)
