Finance

By Business Observer Staff
September 11, 2008

Financial Statements

View Financial Statements from Beasley Broadcasting Group Inc. and Nicholas Financial Inc.

Finance

By Business Observer Staff
September 4, 2008

Utilities seek rate hikesProgress Energy and Tampa Electric have both asked the Florida Public Service Commission for permission to raise electricity rates in January to cover the rising cost of coal, oil and natural gas.Brownfield grants redevelopThe Pinellas County Commission this week accepted a cooperative agreement with the U.S. Environmental Protection Agency regarding three brownfield cleanup grants totaling $600,000.Ritz-Carlton seeks expansionThe Ritz-Carlton, Sarasota already the go-to spot for luxury hotels in Greater Sarasota, could be adding another title to its mantle within the next two years: Biggest hotel in Greater Sarasota.Project receives green lightA mix-used project for Englewood, in the southern reaches of Sarasota County, has been given the preliminarily go-ahead by Sarasota County commissioners. Lee permits stay lowLee County issued permits for 37 single-family homes in August compared with 55 issued in August 2007, a 33% decline. The numbers are evidence that builders of new homes continue to face a tough market.nti-growthers win in LeeThree Republican incumbents on the Lee County commission who ran on anti-growth platforms won their primaries, paving the way for their reelection in November in the heavily Republican area.Tax on road buildersA consultant hired by Lee County commissioners is recommending the county tax businesses that mine rock used in road building. The new so-called "imp

Finance

By Business Observer Staff
August 29, 2008

Gulf Coast Week

City budget proposedWater pipe repairs, a new downtown art museum and widening Bruce B. Downs Boulevard are among the items in the city budget proposed by Tampa Mayor Pam Iorio.History center grantOne of the Gulf Coast's emerging attractions, the Tampa Bay History Center, recently received a $1 million grant from the Kresge Foundation, but it must continue its fundraising to meet a deadline for the grant.Alligator Alley lessorsSix companies are vying to lease Alligator Alley, the 78-mile toll stretch of Interstate 75 that crosses the Everglades from Collier to Broward counties.Fort Myers airport traffic dropsPassenger traffic at Southwest Florida International Airport in Fort Myers fell 6.1% to 503,000 in July compared with the same month last year.Naples visitor count risesThe number of visitors staying at hotels in the Naples area rose 3.5% to 110,700 in June compared with the same month last year, according to Research Data Services.Local company expandsL-3 Aviation Recorders, one of the world's largest manufacturers of airplane cockpit voice and flight data recording systems known as black boxes, has committed to remain in Sarasota for at least another decade.Soccer moves forwardThe effort to bring back the Tampa Bay Rowdies soccer team took another step forward recently as an investment group filed documents to rezone land so they can build a 5,000-seat soccer stadium in Town n' Country, a northwest suburb of

Finance

By Business Observer Staff
August 25, 2008

Gulf Coast Week

Animal park hits snagA proposed animal safari tour business, developed by the chief executive of Tampa's Lowry Park Zoo, has been delayed because of government red tape.Raytheon pledges cleanupFacing a class-action lawsuit from nearby residents, Raytheon says it will clean up the groundwater contamination near its St. Petersburg defense plant, but that the project, which will cost millions, could take more than five years.Wal-Mart project approvedA group of neighborhood organizations in South Sarasota County have taken the unusual step of supporting a plan to bring a Wal-Mart to town. YMCA to expandThe congested section of Lakewood Ranch north of State Road 70 and Lakewood Ranch Boulevard could get busier with a major expansion of the Lakewood Ranch YMCA branch. FM waterfront developmentThe City of Fort Myers selected Acquest Realty Advisors, a Bloomfield Hills, Mich.-based developer, to redevelop five downtown acres along the Caloosahatchee River.Naples festival chooses chefThe Naples Winter Wine Festival will host Emeril Lagasse and 16 other star chefs Feb. 6-8 to raise money for children's charities in Collier County.Valpak for saleAfter finishing a new printing plant in St. Petersburg, Valpak has learned that its Atlanta-based parent company, Cox Enterprises Inc., is trying to sell Valpak.

Finance

By Business Observer Staff
August 15, 2008

Gulf Coast Week

TAMPA BAYNew Tampa bridgeState concurrency laws and mayoral support may breath new life into a scrapped $22 million bridge project over Interstate 75 in New Tampa.Scientology's downtown landAlready a significant presence in downtown Clearwater, the Church of Scientology has bought a five waterfront acres for future development.SARASOTA/MANATEEMall expansion delayedOne of the largest outlet malls in Manatee County has put off expansion plans due to a dispute over costs to expand the main road leading to the center. Construction project beginsConstruction on a $20 million office and retail development in eastern Manatee County is scheduled to begin later this month.LEE/COLLIERMoran joins investment firmJohn Moran, former president and chief executive of Riverside Bank of the Gulf Coast, has joined Fort Myers-based CPA Financial Connections.Hoteliers show mixed JuneHalf the hoteliers in Lee County reported their June occupancies were better or the same than June 2007, but half said it was worse than the same month a year ago.Naples personal income risesThe Naples-Marco Island area's per-capita personal income rose to $61,788 in 2007, the second highest in the nation, according to the U.S. Department of Commerce's Bureau of Economic Analysis.

Finance

By Business Observer Staff
August 1, 2008

Gulf Coast Week

New high-tech firmCambridge, Mass.-based Charles Stark Draper Laboratory Inc. will be establishing a BioMEMS R&D Center at the University of South Florida in Tampa and a Multi Chip Module Center in St. Petersburg.Smith files bankruptcySmith Family Homes, an upscale homebuilder along the Gulf Coast, has filed Chapter 7 in U.S. Bankruptcy Court. Under Chapter 7, a court-appointed official liquidates the company's assets to pay creditors.udge upholds gun lawA Federal judge in Florida upheld a law allowing employees to keep concealed weapons inside their locked vehicles in their employer-owned parking lot.More arena delaysThe foreclosure of a unfinished hockey arena in Lakewood Ranch has been delayed again. German company relocatesOrbeco-Hellige Inc., a Long Island, N.Y.-based manufacturing company that specializes in building instruments for testing water and wastewater treatments, has moved its business to Manatee County. Enterprise opens Aug. 1Fort Myers city officials plan to dedicate the new Southwest Florida Enterprise Center on Aug. 1.News-Press layoffsThe Fort Myers News-Press, a daily newspaper owned by Gannett, told its readers recently it plans to lay off 36 employees and will not fill another 10 job openings.

Finance

By Business Observer Staff
July 14, 2008

Gulf Coast Week

Temple Terrace town centerTemple Terrace has been planning a town center renewal since 2001.Westshore property soldPro-Ject International has sold its seven-acre property at Laurel and O'Brien streets in Tampa's Westshore business district for $8.2 million to Flagler Development Group of Coral Gables.Seltzer's, Cork struggleTampa-based Sam Seltzer's Steakhouses of America Inc. has filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code.Tax hike delayedSarasota city officials have scheduled a meeting for later this summer to hear from developers and business owners concerned about a proposed 11% increase in the city's building and construction tax, also known as impact fees.Campaign hits milestoneSarasota Tomorrow, the pro-business program run by the Greater Sarasota Chamber of Commerce, has reached $2.5 million in donations - $500,000 more than its initial fundraising goal set last year.LWR city chatter progressesAdvocates of the concept of turning Lakewood Ranch into an incorporated city have come up with $35,000 to pay for a feasibility study on the issue.Downtown parking garageConstruction is scheduled to start this summer on the construction of a multi-story parking garage in downtown Fort Myers, bringing much-needed relief for workers and visitors to the Lee County Justice Center.Page Field expansionThe Federal Aviation Administration awarded $6.1 to the Lee County Port A

Finance

By Business Observer Staff
June 27, 2008

Gulf Coast Week

Tampa wins conference: Tampa will host an international business conference in November that will match entrepreneurs with representatives and business owners from 25 countries in Latin America.Rowdies return to Tampa:A new version of the Tampa Bay Rowdies, a professional soccer team that played in Tampa in the North American Soccer League in the 1970s and 1980s, is coming back to town next year and may build a small stadium in northwest Hillsborough.Pasco sports complex: Next door, in Pasco County, developers want to build a $40 million project called SportsPlex USA, which will include three ice skating rinks, bowling alleys, rock climbing, laser tag and an 18-hole miniature golf course.Encouragement zone dead: A proposal to create more business in and around Port Manatee through tax breaks and other incentives failed in Tallahassee.More growth sought: One of the biggest commercial developments in Sarasota County could be growing significantly over the next decade.New Cape manufacturer: Applied Cooling Technology, a United Kingdom-based marine manufacturer, opened its first U.S. division in Cape Coral.MIVA cuts 15% of workers: Fort Myers technology company Miva plans to cut 15% of its workforce in July.Collier panther protection: A coalition of landowners in eastern Collier County announced a panther-protection program to better manage the recovery of the endangered species.

Finance

By Business Observer Staff
June 19, 2008

Gulf Coast Week

Ethanol plant changes: Litigation and water challenges in finding financing have led a company to abandon plans for an ethanol production plant at the Port of Tampa.Verizon changing command: Alan Ciamporcero, who led Verizon's operations on the Gulf Coast and throughout the Southeast the past five years, is retiring July 25.Project holdups linger: Delays are once again plaguing a development in downtown Bradenton involving property once controlled by St. Petersburg developer and entrepreneur Frank Maggio.Buchanan honored by USF: The business education side of the University of South Florida Sarasota-Manatee campus has been renamed the Vernon G. Buchanan College of Business Wing after the congressman, who gave the school $100,000 last year.Sarasota County saves jobs: In an effort to avoid more layoffs and wage freezes, Sarasota County Administrator Jim Ley recommended to Sarasota County commissioners that the county dip into it's so-called stabilization fundNew Fort Myers hospital: Boca Raton-based Promise Healthcare Inc., a long-term acute care hospital company, plans to build a new hospital in Fort Myers.Air Berlin adds flight: Air Berlin, the German airline that recently acquired rival LTU, plans to boost the number of flights from Germany to Southwest Florida International Airport this summer.EDC chief takes buyout: Regina Smith, the executive director of the Lee County Economic Development Office, recently announced

Finance

By Business Observer Staff
June 13, 2008

Gulf Coast Week

Trump Tower trumped: The $225 million Trump Tower in downtown Tampa that began with such fanfare in early 2005 appears to be headed for a quiet, ignominious end.Rays' lead-off lawyer: The Tampa Bay Rays may be riding high on the field this season, but they are in critical need of support from the Pinellas County Commission later this summer to move ahead on a new bayfront stadiumManatee cuts jobs: At least 85 jobs in Manatee County could be eliminated over the next few months, as the county begins to respond to what could be as much as $44 million in budget cuts.New Publix planned: An abandoned newspaper office could be turned into one of the largest Publix supermarkets in the area in and around downtown SarasotaEmbarq closes call center: Telephone service provider Embarq will close its Fort Myers customer call center Aug. 8 and lay off 108 employees, the company says.Creeks preserve opens: Lee County opened the Caloosahatchee Creeks Preserve May 20, a 1,261-acre site on which the county spent $2.1 million to improve 200 acres with restrooms, a canoe launch, parking areas, picnic shelters, trails and observation decks.BioFlorida starts chapter: BioFlorida, the state's bioscience industry association, has launched a Southwest Florida chapter, its sixth in the state, according to the Economic Development Council of Collier County.

Finance

By Business Observer Staff
June 6, 2008

Gulf Coast Week

Finalists narrowed: The contract to run advertising campaigns for the St. Petersburg/Clearwater Area Convention & Visitors Bureau valued at nearly $10 million will be up for grabs later this year.Executive sells home: The chief executive officer and president of Clearwater-based boat dealer MarineMax made a big sale late last month. But it wasn't a boat.New scholarship created: The charitable foundation behind Beall's, the Bradenton-based department store chain, has teamed up with the Foundation for Manatee Community College to form a new scholarshipAward nominations sought: The Economic Development Corp. of Sarasota County is seeking nominations for its 2008 Hall of Fame Awards.It only took two years: Sarasota-based developer Billy Springer has finally received long-awaited approvalWhat credit crunch?: Health Management Associates raised $275 million in a convertible-bond offering on May 21.Alligator Alley privatization: The Florida Department of Transportation is exploring the possibility of privatizing Alligator Alley,Lee permits find bottom: Lee County issued construction permits for 80 single-family homes in May, a 73% decline from the 301 issued in May 2007.

Finance

By Business Observer Staff
May 30, 2008

Gulf Coast Week

New owners for Busch?: InBev NV, a Belgian brewing company, is considering a $46 billion takeover of Anheuser-Busch Companies Inc.USF to cut 450 jobs: University of South Florida President Judy Genshaft said the college will cut $50.4 million by laying off 70 employees and not filling 380 open jobsRays anger Pinellas: After waiting for months for a detailed financial plans on a new open-air baseball park from the Tampa Bay Rays, the Pinellas County Commission got the news the team would be asking for $100 million from the county.No-smoking policy: Sarasota County is leading the way on the Gulf Coast with what is becoming a national trend: Refusing to hire people who smoke cigarettes or other tobacco products.More delayed projects: Add two more downtown Bradenton developments to the growing list of delayed projects up and down the Gulf Coast.County offers buyouts to 800: Lee County has offered about 800 higher-paid employees buyout offers to counter a projected drop in revenues this year.UPS adds jobs in Fort Myers: Package delivery giant UPS recently announced plans to expand its Fort Myers operations and hire another 20 employees.Alico closes Plant World: Alico, the agribusiness company headquartered in LaBelle in Hendry County, east of Fort Myers, has closed its Plant World operations and eliminated 30 jobs.

Finance

By Business Observer Staff
May 22, 2008

Gulf Coast Week

Judge supports St. Joe's: St. Joseph's Hospital remains alive in the competition to build a hospital in the growing south shore area of southern Hillsborough County.Council delays brewery: Joe Redner, Tampa's famous strip club owner and continual political candidate, wants to try another business venture: brewing beer.St. Pete loses air carrier: High fuel prices have claimed another victim: USA 3000, the second-busiest carrier at St. Petersburg-Clearwater International Airport.Infrastructure spending: Sarasota County commissioners approved $14 million in infrastructure spending earlier this month, the first approvals since county voters approved an increase to the county's bond borrowing capabilities in a May 6 referendum.Arts Day canceled: Arts Day, an annual event held in downtown Sarasota to showcase the region's artists, musicians and performers, has been canceled for 2009Mercier exits commission: Paul Mercier, who has been considered by some to be one the most pro-development members of the Sarasota County commission during the past eight years, has decided not to run for a third termLee approves bond sale: The Lee County Commission approved the issuance of $63 million in private-activity bonds to finance Pacific Retirement Services' acquisition of Cypress Cove at HealthParkNew flood maps for Lee: The Federal Emergency Management Agency (FEMA) has released the final flood-insurance maps for Lee County.New Le

Finance

By Business Observer Staff
May 15, 2008

Gulf Coast Week

Tampa water vision: Tampa's growth northward and increasing demand for water has city leaders thinking about using reclaimed waterApartment tower proposed: Although the condominium market has taken a hit, Crosland, a Charlotte, N.C. developer, thinks a 26-story apartment tower can work in downtown Tampa.Rail supporters fight on: A $649 million deal with CSX Transportation to create a commuter rail network in Florida has collapseProject delayed again: More than 25 acres of undeveloped waterfront property in downtown Bradenton is undergoing a foreclosure sale later this month, the latest problems facing what was supposed to be a mixed-use project with the potential to reshape the cityMills sells insurance firm: Former Sarasota County Commissioner David Mills sold his independent locally based insurance brokerage to Insurance & Benefits Consultants, a subsidiary of a publicly traded Southfield, Mich.-based firm.Project expansion denied: Citing congestion concerns, Sarasota County Commissioners voted down a major expansion for Thomas Ranch, a large-scale mixed-use project in the southern edge of the county.Naples mandates recycling: The Naples City Council on May 7 voted to require businesses to recycle. The vote was 6-to-1 in favor, with Teresa Heitmann dissenting.Business program incubating: Economic development groups from Sarasota, Charlotte, Glades, Lee, Hendry and Collier counties are working to create a small-business

Finance

By Business Observer Staff
May 9, 2008

Gulf Coast Week

Toll road plans dying: The proposed 3-mile, $155 million east-west road linking New Tampa to Interstate 275, talked about for years as a way to lessen traffic in New Tampa and southern Pasco County, may be scrapped.St. Pete to open talks: St. Petersburg Mayor Rick Baker has asked the city to begin negotiations with two of three developers that submitted bids to remake Tropicana Field into a mixed-use development No-growth initiative passes: In a special election held May 6, Sarasota County voters overwhelmingly approved two ballot measures that some in the local business community considered pro-business initiatives.Rural project expansion: The potential developer of 26 square miles in rural southern Sarasota County is planning to put an additional $90 million into the project.Gyrocam lands huge deal: Gyrocam Systems has been awarded a $302 million contract from the U.S. Army Lee permits hit bottom: Lee County issued permits for 47 single-family homes in April, the same number the county did in March. However, April's number is down 82% from the 262 issued in April 2007.Tech group launched: A group of technology executives has created a coalition of companies in eight counties and plans a launch event May 22 in Fort Myers

Finance

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St. Petersburg Gas Plant RFP draws nine proposals

DeSantis, MLB commissioner support Tampa Bay Rays' stadium plans

California hedge fund makes $1.1B offer to buy MarineMax

Landmark downtown Sarasota hotel torn down for new project

AI, emerging tech at the forefront of annual annual jobs summit

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