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Tom Knox
Tom Knox is an American businessman and politician. A Democrat, Knox ran for Mayor of Philadelphia in 2007, and Governor of Pennsylvania in 2010. ==Business career== A high school dropout who later earned a GED in the United States Navy, Knox was a successful entrepreneur who built an insurance advisory firm and sold it for nearly six million dollars in 1986. In the late 1980s he began buying and turning around underperforming companies. Among his targets was Crusader Savings which he later sold to Royal Bank of Pennsylvania for seventeen million dollars. Knox was credited with significantly increasing the bank's income, though has been criticized for his methods. The bank's income increased through the use of payday loans which charge high interest rates and are under fire from a number of states. The Office of Thrift Supervision, one of the country's bank regulators, later expressed concerns over several of the bank's businesses, including the payday lending business.〔 〕 In 1999, Knox acquired Fidelity Insurance Group, a Maryland health insurance firm which he sold to UnitedHealth Group in 2004〔 〕 for a gain of over twenty million dollars. After the acquisition, Knox became the CEO of UnitedHealthcare of Pennsylvania, a UHG subsidiary. He resigned his position in 2006 in order to run for mayor.〔 〕
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