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Business Observer Friday, Oct. 2, 2015 7 years ago

Corporate report

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Airport authority evicting Three Palms Speedway operator; Kerkering Barberio Financial Services changes name to Allegiant; Alico creates subsidiary for ownership stake in chemical firm; Doyle Wealth Management hires new chief investment officer

Airport authority evicting Three Palms Speedway operator
The Charlotte County Airport Authority has started eviction procedures to remove the tenants from the Three Palms Speedway. The 3/8-mile asphalt racetrack sits on a little more than 20 acres next to Punta Gorda Airport. The tenants, Jamie and Andy Haase, have operated from the site for more than two years.

Pamella Seay, commissioner with the airport authority, says the tenants are at least three months behind in rent. The tenants have also not installed grandstands required by the lease. Even more worrisome for the authority, she says, is the business has been without its required insurance for at least a month.

“This is a such a huge liability for us,” Seay tells the Business Observer. “It's a racetrack. People have died racing. We are really going through our legal options right now to protect the racetrack property.”

The Haases, who have a lease through Sept. 30, 2016, didn't return a call seeking comment.

Kerkering Barberio Financial Services changes name to Allegiant
Sarasota-based Kerkering Barberio Financial Services renamed itself Allegiant Private Advisors LLC. The renamed wealth management firm will continue to specialize in providing financial services to high-net-worth families, entrepreneurs, nonprofits and foundations.

Allegiant President Martin Kossoff says the new name a clearer statement of the firm's identity and its mission of loyalty to its clients.

Doyle Wealth Management hires new chief investment officer
Michael Chren has joined St. Petersburg-based Doyle Wealth Management as the firm's chief investment officer. Chren has nearly 30 years investment and financial experience. He was previously the senior portfolio manager of large cap value equity for Invesco Capital Management, Allegiant Asset Management Group and Fidelity Management and Research Co.

Alico creates subsidiary for ownership stake in chemical firm
Fort Myers-based Alico Inc. (symbol: ALCO; recent price: $43.23) announced that its newly formed subsidiary, Alico Chemical Sales, was approved as a new owner-member and stockholder of Chem Nut Inc. Alico says that its membership in Chem Nut will allow the company to better fulfill its chemical needs as it grows.

Leesburg, Ga.-based Chem Nut supplies agricultural crop protection products, adjuvants and surfactants, seed and seed treatments and agricultural minerals to independently owned agricultural retailers. The company has 295 owner-members and 355 retail locations operating in 28 states and Puerto Rico.

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