South Florida Business Journal articles from August 2000

South Florida Business Journal archives from August 2000

AHCA contractor's ex-CEO, CFO indicted.
August 4, 2000... Florida Medical Quality Assurance had a state contract to root out Medicaid fraud, but the company's former CEO and CFO now are under indictment themselves. The charges are one count against each of conspiracy to defraud and commit...

Construction plans for senior projects hit $200 million.
August 4, 2000... More than $200 million has been targeted for projects that will offer seniors in South Florida amenities such as continuing care, independent living, assisted living, dementia living and day care. The new projects, including one costing...

Firm pays $53 million to settle fraud case.(Brief Article)
August 4, 2000... Gambro Healthcare Laboratory Services of Fort Lauderdale, a sister company in Central Florida and their parent company in Colorado have agreed to pay $53 million to settle allegations of health care fraud, according to the U.S. Department of...

Coach throws in the towel at west Dade leather plant.(Brief Article)
August 4, 2000... As it prepares to part company with parent Sara Lee Corp., Coach leather goods will close its Medley plant in October, idling 360 workers. Dan Nockels, Coach's senior vice president of operations, flew from corporate headquarters in New...

Puerto Rico's largest bank sows business in Miami.(Brief Article)
August 4, 2000... First of what could be 20 Banco Popular branches in five years set to open Banco Popular, Puerto Rico's largest bank, will open its first South Florida branch early next month. That office will be at 7500 S.W 8th St. in Miami, in a...

Bank of America cost-cutting layoffs expect to reach 10,000.
August 4, 2000... Cost to Florida's workers less here than elsewhere When Bank of America counted heads on June 30, it showed 5,180 in South Florida. And as the country's largest bank prepares to eliminate up to 10,000 of its 150,000 jobs, early...

BankAtlantic to rethink the great divide.
August 4, 2000... Bank's shareholders will vote to end dual market stock listing BankAtlantic Bancorp has set Aug. 17 as the date for its annual shareholders meeting, the highlight of which will be a vote on management's proposal to take the company's Class...

LightSpeed catches big Internet host.
August 4, 2000... The Swerdlow Real Estate Group's newest venture for telecommunications space, LightSpeed Infrastructure LLC, has reeled in its first catch, and it's a big one. The Hollywood-based developer said Wednesday it had hooked a deal with one of...

The Preserve at Palm Aire sold for $27 million.
August 4, 2000... Lend Lease Real Estate Investments of Boston has purchased The Preserve at Palm Aire, a retirement community in Pompano Beach, for $27 million. The 297-unit property was purchased by Lend Lease on behalf of a public pension fund client...

Sterling adds polish to regional investment banking.
August 4, 2000... Online private placement clearinghouse a new twist Stock brokers, bond traders and investment bankers are reporting for work every week at Sterling Financial Investment Group in Boca Raton, with many coming from New York and major firms...

Accurate analysis lands Boca trader CNBC guest gig.(Brief Article)
August 4, 2000... John Curry of Sterling Financial Investment Group in Boca Raton is becoming a regular guest commentator on cable network CNBC. His story illustrates how being proactive can help business people get invited to a high-profile TV show, or just...

Mizner Park complex evolves as financial nerve center.
August 4, 2000... Financial pros like to talk shop with the people in the next office, and they appreciate coffee-room perks like TVs that are set to CNBC and electronic stock tickers. Those services are part of the marketing pitch that Corporate Executives...

Small business owner sees 'one of us' in Bush.(Brief Article)
August 4, 2000... Hector V. Barreto grew up Republican -- his father, a founder of the U.S. Hispanic Chamber of Commerce, was the first president of a national Latino organization to endorse a Republican for president when he backed Ronald Reagan in 1980. ...

Anti-bundling legislation wins bipartisan support.
August 4, 2000... Bipartisan agreement in Congress these days is as rare as a double bogey by Tiger Woods. But both Republicans and Democrats are frustrated that thousands of small businesses have lost federal contracts in recent years because government...

Small business owners say skilled workers No. 1 priority.(Brief Article)
August 4, 2000... Tax relief and regulatory reform may dominate the public policy agenda for traditional small businesses, but entrepreneurs have other, things on their minds. The struggle to find quality people to fuel their growth was the top challenge...

Backlog building for 2001 visas.
August 4, 2000... Supporters of raising the cap on H-1B visas say new numbers from the Immigration and Naturalization Service show the need for prompt action to allow more foreign professionals to work in America. The INS, which hit this year's limit on H-1B...

Agencies fail to use Hubzone.
August 4, 2000... The chairman of the Senate Small Business Committee says many federal contracting officers are not using the Hubzone program, which gives small businesses in low-income areas preference for government contracts. "The apparent indifference...

Small business owners lose with SS.
August 4, 2000... A new study shows the average married couple running a small business would have $461,190 more in retirement income if they could have invested their self-employment taxes in personal accounts instead of Social Security. The study was...

Employers save with drug coverage.
August 4, 2000... Large employers who sponsor health plans for retirees would save more than $5 billion in 2003 if Medicare began providing prescription drug coverage, according to a new study conducted by Hewitt Associates for the Henry J. Kaiser Foundation....

AHCA deputy director resigns.(Brief Article)
August 4, 2000... Gary L. Crayton, 47, deputy director of the state Agency for Health Care Administration resigned his $97,660-a-year position as director of the Division of Medicaid effective Sept. 1. Crayton is the second top AHCA executive to resign this...

FPL buys Entergy in stock merger.(Brief Article)
August 4, 2000... FPL Group (NYSE: FPL), the Juno Beach-based parent of Florida Power & Light Co., plans to acquire Entergy Corp. (NYSE: ETR) for about $7 billion in stock. The merger would create the largest power generating company in the United States. FPL...

Investigation at Bascom Palmer.(Brief Article)
August 4, 2000... The Bascom Palmer Eye Institute at the University of Miami is investigating a financial irregularity in its business office. The problem arose during a routine audit at the institute's Anne Bates Leach Eye Hospital, said Jerry Lewis, UM...

Republic Services 2Q income rises.(Brief Article)
August 4, 2000... Fort Lauderdale-based Republic Services (NYSE: RSG) reported net income of $59.2 million or 34 cents a share for the quarter ended June 30, compared to $54.5 million or 31 cents a share for the comparable period last year Revenue increased 15...

Royal Caribbean reports record 2Q.(Brief Article)
August 4, 2000... Miami-based Royal Caribbean Cruises (NYSE: RCL) reported net income for the second quarter of $108 million or 56 cents a share, compared to $85 million or 47 cents a share in the same quarter of 1999. Revenues were $680.7 million for the...

BankUnited's earnings, loans grow.(Brief Article)
August 4, 2000... BankUnited Financial Corp. (Nasdaq: BKUNA) of Coral Gables reported net income of $3.6 million or 20 cents a share, for the third quarter ended June 30. That compared with net income of $3.1 million or 17 cents a share, for BankUnited's 1999...

World Fuel 2Q earnings up.(Brief Article)(Statistical Data Included)
August 4, 2000... Miami Springs-based World Fuel Services Corp. (NYSE: INT) reported net income of $3.25 million or 30 cents a share for the first quarter ended June 30, compared to net income of $2.24 million or 18 cents a share for the first quarter of the...

IVAX 2Q earnings double.(Brief Article)(Statistical Data Included)
August 4, 2000... Miami-based WAX Corp. (AMEX: IVX) reported net income of $29.98 million or 19 cents a share for the second quarter, compared to $13.5 million or 8 cents a share for the same period a year ago. Revenues for the-quarter were $184.7 million,...

Hamilton Bancorp has strong 2Q.(Brief Article)(Statistical Data Included)
August 4, 2000... Miami-based Hamilton Bancorp (Nasdaq: HABK), the holding company of Hamilton Bank, NA., reported record results for the second quarter ended June 30 of $7.6 million or 75 cents a share, compared to $6.4 million or 64 cents a share for the same...

Nabi 2Q income rises.(Brief Article)(Statistical Data Included)
August 4, 2000... Boca Raton-based Nabi (Nasdaq: NABI) reported net income of $1.3 million or 4 cents a share for the second quarter ended July 1 compared to net income of $1.1 million or 3 cents a share in 1999. Revenues were $57.6 million for the quarter,...

Florida Gaming slows net income skid.(Brief Article)(Statistical Data Included)
August 4, 2000... Florida Gaming Corp. (OTC BB: BETS) reported net income for the second quarter ended June 30 of $212,491 or 2 cents a share, compared to $129,797 or 1 cent a share in the same quarter of 1999. Total money wagered for the second quarter...

Singing Machine 1Q income takes off.(Brief Article)(Statistical Data Included)
August 4, 2000... Coconut Creek-based The Singing Machine Co. (OTC BB: SING), a manufacturer and distributor of karaoke equipment, announced net income for the first quarter ended June 30 of $408,265 or 9 cents a share compared to $39,942 or 1 cent a share for...

Daleen reports 2Q loss, new deal.(Brief Article)(Statistical Data Included)
August 4, 2000... Boca Raton-based Daleen Technologies (Nasdaq: DALN) reported a net loss for its quarter ended June 30 of $8.4 million or 38 cents a share, compared to a loss of $1.6 million or 49 cents a share for the comparable quarter of 1999. Revenues,...

IMX Pharmaceuticals buys Ohio firm.(Brief Article)(Statistical Data Included)
August 4, 2000... IMX Pharmaceuticals (OTC BB: IMXN) announced that it acquired all of the stock of Select Benefits Corp. of Mentor, Ohio. Select Benefits provides discount health care memberships. Services include prescription drugs, vision care; dentistry,....

US LEC installs switch in South Florida.(Brief Article)(Statistical Data Included)
August 4, 2000... US LEC Corp. (Nasdaq: CLEC), a Charlotte, N.C.-based provider of integrated telecommunications solutions, has completed the installation of its sales office and switching center in West Palm Beach. US LEG now has five switches in Florida and 20...

Carnival Cruise gets new ship.(Brief Article)(Statistical Data Included)
August 4, 2000... Miami-based Carnival Cruise Lines, a unit of Carnival Corp. (NYSE: CCL), took delivery of its new $440 million cruise ship, the Carnival Victory. One of the largest cruise ships ever constructed, the Carnival Victory features 13 passenger decks...

RailAmerica to place notes.(Brief Article)(Statistical Data Included)
August 4, 2000... Boca Raton-based RailAmerica (Nasdaq: RAIL) announced that it is proposing to make a private placement of $120 million of senior subordinated notes due 2010 of its subsidiary RailAmerica Transportation Corp. The company proposes to use the...

UniCapital sells 18 aircraft.(Brief Article)(Statistical Data Included)
August 4, 2000... Miami-based UniCapital Corp. (NYSE: UCP) announced it has sold 18 aircraft to an affiliate of Lehman Brothers in an effort to accelerate the company's planned exit from the Big Ticket Division. The sale provides UniCapital with more than $20...

ADGI gets money from Florida Export.(Brief Article)(Statistical Data Included)
August 4, 2000... American Diversified Group (OTC BB: ADGI) announced that Florida Export Finance Corp. (FEFC) committed $450,000 in a financing facility to Global Transmedia Communications Corp. FEFC, a corporation owned by Florida, is part of the Export-Import...

Office Depot CFO to retire.(Brief Article)(Statistical Data Included)
August 4, 2000... Delray Beach-based Office Depot (NYSE: ODP) announced that CFO Barry Goldstein, 57, has announced plans to retire, effective upon the selection of his replacement A search process is under way for a new CFO.

Viragen working on cancer vaccine.(Brief Article)
August 4, 2000... Plantation-based Viragen (AMEX: VRA) announced that its subsidiary, Viragen Ltd., (OTC BB: VERP) signed an agreement with the University of Nottingham and Cancer Research Campaign Technology (CRCT) to develop a new cancer vaccine therapy for...

A car condom.(Sol-A-Raj)(Brief Article)
August 4, 2000... It's 8 a.m., mid-summer in South Florida. The temperature is already reaching 90. You're late for work, but you need to protect that new Beemer you just bought You spread the car cover over the vehicle, but like a bedspread, you secure one...

Dialing a new exchange.(Brief Article)
August 4, 2000... After three years as head of the Securities Exchange Commission's Miami region, Randall Eons has taken that agency's top post in Denver -- another hotbed of securities fraud. "We are tackling many of the same problems in Denver that we...

Cher fan believes.(Brief Article)
August 4, 2000... Alexis C. Mitchell has always idolized Cher. So when she heard the show "Your Big Break" was looking for contestants who sound like singer/artists to appear on the show, she grabbed her camcorder and taped her rendition of the Cher song,...

HIP Health faces a deadline.(Brief Article)
August 4, 2000... The Florida Department of Insurance has rejected the Hollywood-based HIP Health Plan of Florida's plan to correct its deficit reserve and cash on hand problems. The Florida Department of Insurance had examined the books of HIP Health Plan...

Boca News departure leaves staff stunned.(Brief Article)
August 4, 2000... Ronald C. Smith, editor-in-chief of the Boca Raton News for 18 months, abruptly resigned his position Friday, and publisher Michael Martin announced two promotions during a late afternoon staff meeting. Smith's departure apparently came as...

Mystery pages: new may to target women.(Brief Article)
August 4, 2000... South Florida women are getting another magazine to read. But it won't be available until next year, and the publication is so new it doesn't even have a name yet. "The name and editorial content will be revealed a press and celebrity...

Woman of the Year in charge.(Brief Article)
August 4, 2000... Shelly Stein of Grant Thornton has been named Woman CPA of the Year by the American Woman's Society of Certified Public Accountants (AWSCPA). And if you check what Stein has been doing in South Florida and around the world, you'll understand...

Wealthy techies and us.(Brief Article)
August 4, 2000... There are some things that everyone knows, like the bulk of rich techies are dot.com 20-somethings. Not! According to a comprehensive survey, prepared for U.S. Trust, the average age of the richest technology professionals is a grown up 53....

Business and baseball in one play.(Brief Article)
August 4, 2000... It may seem like any old collision at home plate. But deep within the image are a plethora of business-is-like-baseball metaphors. Atlanta Braves shortstop Rafael Furcal gets tagged in the face by his competitor, a Marlins catcher. Catchers, by...

Looking Sharper.(Brief Article)(Statistical Data Included)
August 4, 2000... It's no secret that one of the best ways to spend it is on snazzy high-tech toys and gadgets. After all, isn't life for living? That's the rationale for a dip into the latest offerings from upscale gizmo sellers The Sharper Image. Try the...

New contracts, alliances fail to stop Smith-Gardner slide.(Brief Article)
August 4, 2000... * Profile: Smith-Gardner provides software, hardware and related services to non-store marketers. Customers include direct marketing companies, Internet-only retailers, manufacturers, fulfillment houses, and retailers with significant...

GM should drive new course to bring shareholder value.
August 4, 2000... Dear Mr. Berko: Back in 1996, I bought 100 shares of General Motors at $59 a share. Some months later, it fell to $53. You told me that though you didn't like the stock, I should hold on to it because you believed it could move to the high $80s...

Joel Bergenfeld.
August 4, 2000... Joel Bergenfeld, CEO, and Arthur West, CEO, of Florida Medical Center in Fort Lauderdale received the 2000 Circle of Excellence Award for outstanding performance and leadership.

The John D. and Catherine T. MacArthur Foundation.(Brief Article)(Statistical Data Included)
August 4, 2000... The John D. and Catherine T. MacArthur Foundation donated $2 million to the Florida Atlantic University branch of the Joint Center for Environment and Urban Problems to create The Abacoa Project, a program that focuses on building communities...

Century Homebuilders.
August 4, 2000... Century Homebuilders in Miami donated $5,000 to the Miami-Dade County Parks and Recreation Department for the Metro-Dade Track Club. The donation will enable the county to provide uniforms for this year's track season.

Wells Fargo & Co.(Brief Article)
August 4, 2000... Wells Fargo & Co., a financial service company in N.Y., was chosen by Mortgage.com, an online mortgage banking and consumer direct mortgage lending company in Sunrise, to provide home equity loans online.

The Guby Network.(Brief Article)
August 4, 2000... The Guby Network, an Internet platform specializing in Latin American search engines in Miami, asked Todosport, an online sports marketing firm targeted at Spanish and Portuguese-language markets, to be its provider of sports related news and...

PNV.
August 4, 2000... PNV, an Internet communications and information provider in Coral Springs, was chosen by Tyson Foods, a chicken processing company, to provide its telecommunications and Internet product and services.

Landco Industries.(Brief Article)
August 4, 2000... Landco Industries, an excavation company in N.J. launched Florida Crane, a crane rental and equipment company in Pompano Beach, as part of its strategic plan to develop into new service areas.

O'Connell & Goldberg.(Brief Article)
August 4, 2000... O'Connell & Goldberg, a public relations firm in Hollywood, was selected by WTVJ, NBC 6 to handle public relations efforts regarding its move to Miramar.

Westport/Greystone Communities.(Brief Article)
August 4, 2000... Westport/Greystone Communities, a senior living community in Palm Beach Gardens, chose Rick Reynolds Diamond Architects to design the architectural services for phase one of La Posada, a new innovative continuing care retirement community.

Vortex Communications.(Brief Article)
August 4, 2000... Vortex Communications, a visual communications firm in Miami, launched its Web site www.vortexcomm.com. The site provides information regarding the company's services, philosophy and culture.

First National Bank of Homestead.(Brief Article)
August 4, 2000... First National Bank of Homestead launched www.bankstars.com. The Web site offers information regarding bank ratings and banking reports.

Weber Public Relations Worldwide.(Brief Article)
August 4, 2000... Weber Public Relations Worldwide in Coral Gables introduced its Web site www.Weber-PR.com. The website gives information about the company, its clients and the work it does.

IVAX Corp.(Brief Article)
August 4, 2000... IVAX Corp., a pharmaceutical research and developing company in Miami, launched www.ClozapineRegistry.com. The Web site deals with the medicine Clozapine and gives information about the product and its side-affects. The site also allows viewers...

UP & COMERS.
August 4, 2000... ACCOUNTING WINNER: LESLIE N. HERNANDEZ Manager of Finance/Administration: Miller Legg & Associates Age: 33 When Leslie Hernandez graduated from Florida International University with a Bachelor's in accounting, she still felt...

In a meeting.(Brief Article)
August 4, 2000... Do people actually have time to do all the work? Sometimes workers spend so much time in meetings, that this becomes their work. Yet, it's all about balance. So this summer some companies are offering "meeting free" days. Corporations using...

Personality matters.(Brief Article)
August 4, 2000... Are you a type A, big-picture, get-it-done, cross-it-off kind of person? Or are you the detail-oriented, thinking, and do-it-properly kind of person? Entrepreneurship requires a bit of both. The most successful business owners have the...

I SCREAM, YOU SCREAM.(Brief Article)
August 4, 2000... Great grandson hopes we all scream for custard Don Drybread spends most of his days going back and forth from the Sub Center on Hollywood Boulevard to Siciliano's Frozen Custard & Italian Ice next door. In the morning, he sets up at...

How a salesperson wants to be treated: honestly.(Brief Article)
August 4, 2000... Salespeople have feelings, too. If you're a buyer, company owner or CEO, I ask you -- how do you treat salespeople? Want to know how they want to be treated? I have talked to thousands of salespeople who talk about what they wish buyers...

FOR THE RECORD.(Brief Article)
August 4, 2000... ARCHITECTURE/ENGINEERING Tilden Lobnitz Cooper, an engineering, mechanical, electrical and structural service provider in Fort Lauderdale, elected the following to serve on its board of directors: Chuck Buchman, Keith Couch, Ashraf...

DEJA VU.(Brief Article)
August 4, 2000... Entrepreneur rescues company from bankruptcy Court Rob Stevens grew his pharmacy and infusion company to $35 million in sales only to sell out last year for cash and stock. When the buyer, Flagship Healthcare, ended up in bankruptcy court,...

As region booms, hospitals face layoffs, closures.(Brief Article)
August 4, 2000... The Hippocratic oath has met bottom-line reality in South Florida. On June 6, Intracoastal Health Systems revealed plans to close the doors of one of its two hospitals, St. Mary's in Palm Beach County. Preceded by rumors of job layoffs,...

Cleveland Clinic Florida opens chronic prostatitis clinic.(Brief Article)
August 4, 2000... Cleveland Clinic Florida has established a clinic in Broward County to address one of the most misunderstood, misdiagnosed and painful maladies affecting men -- chronic prostatitis. At the forefront of medical research and education, the...

Jackson again tops The Business Journal's largest hospitals list.
August 4, 2000... About half of licensed hospitals make the list In 1985, The Business Journal published the first list of the largest hospitals in the South Florida region. The list is designed to educate and empower consumers with information to assist...

Dania amusement park renamed as part of branding strategy.(Brief Article)
August 4, 2000... There's changes in the course at Grand Prix Race-O-Rama. The sprawling amusement and arcade complex in Davie will now be called Boomers, named after its sister park in Boca Raton. The change comes almost two years after Palace...

Power plays.(Brief Article)
August 4, 2000... The merger of FPL Group and Entergy Group shows how deregulation can encourage business mergers. Often times mergers can lead to improved efficiencies that benefit shareholders and customers alike, but other times they turn into baffles over...

A short lesson in Capitalism 101.(Brief Article)
August 4, 2000... Today we are going to talk about capitalism in its rawest and purest form. I have spent years researching an archetype and will share all that I know with you, my loyal Business Journal readers. This is a business that has little barrier to...

Nursing home chains stumble into Chapter 11.(Brief Article)
August 4, 2000... With five of the largest seven for profit nursing ho me chains currently operating in Chapter 11 bankruptcy, and with virtually all nursing home stocks at an all-time low, we are witnessing the virtual collapse of an industry that has been in...

From now on at Ch. 6: Bright, shiny studios.(Brief Article)
August 4, 2000... "Location, location, location" may be the adage in the real estate business, but executives at WTVJ think it's important in broadcasting too. That's why they moved this week to a new $20 million building in Miramar. "We're right in the...

Church lower becomes one for the history books.(Brief Article)(Statistical Data Included)
August 11, 2000... School districts and county governments don't have Church & Tower to kick around anymore. The largest subsidiary of MasTec, Miami's billion-dollar telecom firm, has lost its separate name and now goes under the umbrella moniker of MasTec...

Miramar plans $130 million project to create city center.(Statistical Data Included)
August 11, 2000... In a bold move, the city of Miramar plans to rocket itself into the 21st century with a $130 million Town Center municipal/residential/educational/office and retail complex. It's an ambitious plan designed to meet both municipal and...

Coping with canker.(disease impacts Florida agriculture)(Statistical Data Included)
August 11, 2000... Growers plead for state money as others find profit It's not a pretty sight. Acres and acres of burned lime groves in Miami, Homestead and Florida City. Each day it gets uglier as state agriculture workers find more canker-contaminated...

Beacon Council ad strategy mystifies agency chieftains.(Brief Article)(Statistical Data Included)
August 11, 2000... Miami advertising executives are expressing surprise about a Beacon Council promotional campaign that's being prepared without their knowledge or involvement. "I don't know anything about it," said Phillip Schwartz, president of Turkel...