I have the same exact problem, but in my case I have two network cards, eth0 
and eth1 and I am connecting via eth0 that was configured with static IP 
address. Intially the eth0 shows as "device not managed" but the network 
connects and eth1 as disconnected. When I followed the workaround and I changed 
the 
[ifupdown]
managed=false
to
[ifupdown]
managed=true
I completely lost my network connection.I have to change the 
/etc/network/interfaces from static IP address to dynamic IP address to bring 
my connection back. Then also I was able to change the managed to true to bring 
back the NetworkManager icon in the status area.

-- 
Network Manager, device not managed
https://bugs.launchpad.net/bugs/373041
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