South Florida Business Journal articles from December 2000

South Florida Business Journal archives from December 2000

Charter Schools USA plans boom for two counties.
December 1, 2000... Charter Schools USA, a Fort Lauderdale firm that operates four schools in South Florida, is planning 21 new schools in Broward and Miami-Dade counties, beginning with the takeover of a vehicle reconditioning facility in Miramar. CEO Jonathan...

NFL alumni group's priorities questioned.
December 1, 2000... A few former National Football League players aren't happy about the direction that the NFL Alumni Association has taken. Based in Fort Lauderdale, the association was originally formed to help NFL retirees who were without a pension. But...

HUBZone, the small business incentive that no one knows.
December 1, 2000... After outcry about affirmative action being discriminatory, you might think a national program that's race and gender-neutral would be widely embraced. Think again. The federal HUBZone Empowerment Contracting program, which could mean...

Caribbean trade pact frays Miami cutting rooms.
December 1, 2000... 87 jobs at Bend'n Stretch newest remnant of decline Like a woolen sweater washed in hot water and tossed in the dryer, Miami's once-robust apparel manufacturing industry is facing increased shrinkage, with Hialeah's Bend'n Stretch the...

Net Financial News program missing in action.
December 1, 2000... After months of cash flow problems, 5th Avenue Channel's Net Financial News program has finally become dead air. Net Financial News (NFN) staffers who had not already defected or lost their jobs watched their paychecks bounce while...

Mall at 163rd could land Wal-Mart SuperCenter.
December 1, 2000... Wal-Mart Stores announced that the Mall at 163rd Street "has possibilities for a Wal-Mart SuperCenter Store," said a company spokeswoman. Officials of the mall reportedly have told business leaders in nor that construction could begin early...

Merging finance firms hope to play a 'matchmaker' role.
December 1, 2000... VFinance.com of Fort Lauderdale and Colonial Direct Financial Group of Boca Raton are hoping that their pending merger will create a substantial online national matchmaker of investors and of companies seeking private equity. Their...

Another park and ride lot is going high-tech.
December 1, 2000... Sheridan Street site RFP to be issued soon The Florida Dept. of Transportation in Ft Lauderdale will issue a Request For Proposals for a telecom hotel project to be located at the Sheridan Road Tri-Rail station in Broward. "The package...

Lake Park town council walks redevelopment edge.
December 1, 2000... The Lake Park town council stands literally at the water's edge in deciding on the redevelopment of the southeastern quarter of the community. The problem is that the people of the town are worried they may not be able to see the water's...

Miami-Dade's CIT leads list of largest lenders of SBA loans.
December 1, 2000... Lending in the U.S. Small Business Administration's South Florida District grew by 33 percent this year, with a large part of the increase in loans to blacks, Hispanics, women and startup businesses. The SBA provided guarantees on 1,780...

Big NAP wake up call in Miami Dec. 5.
December 1, 2000... The big tech promotional guns are loaded and ready to fire information salvos at a NAP meeting, sponsored by the Greater Miami Chamber of Commerce Internet & E-Commerce committee on Tuesday, Dec. 5. The 7:45 a.m. breakfast program features...

SCT appeals $3.2 million decision.
December 1, 2000... SCT (Nasdaq: SCTC) has appealed a $3.2 million decision rendered against it in Broward County's U.S. District Court in favor of Unisys. Judge William P. Dimitrouleas entered a judgment against SCT for nearly $3.2 million in connection with a...

Allidex raises $3 million.
December 1, 2000... Boca Raton-based Allidex, an IT integration services provider, has completed its initial $3 million round of financing. The deal was led by VC Advantage Limited Partnership and Convexa Capital AS, and also included angel investors. Allidex...

Stebel new Inprimis VP.
December 1, 2000... Michael D. Stebel has been promoted to senior vice president of sales and marketing for Inprimis Technologies, a subsidiary of Boca Raton-based Inprimis (Nasdaq: INPM). Since August, Stebel has been marketing VP for the firm. Prior to...

Artigliere new CFO at Applied Digital.
December 1, 2000... Jerome C. Artigliere has been appointed CFO for Palm Beach-based Applied Digital Solutions (Nasdaq: ADSX). He assumes the position vacated by David A. Loppert, who has been named CEO of SysComm International Corp. Prior to the appointment,...

IMX Pharmaceuticals seeks Chapter 11.
December 1, 2000... Boca Raton-based IMX Pharmaceuticals (OTC BB:IMXN) and its subsidiary, IMX ETI LifePartners, have filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the Southern District of Florida, West Palm Beach Division....

IVAX subsidiary, online firm merge.
December 1, 2000... Miami-based IVAX Diagnostics, a developer, manufacturer and marketer of diagnostic products and subsidiary of IVAX Corp. (AMEX: IVX), announced an agreement to merge with b2bstores.com (Nasdaq: BTBC). Upon completion of the transaction,...

Cybear acquires assets of AHT Corp.
December 1, 2000... Andrx Corp.-Cybear Group (Nasdaq: CYBA) acquired the operating assets of AHT Corp. (Nasdaq: AHTCQ). AHT, a national provider of Internet-based health care e-commerce, voluntarily filed for bankruptcy protection in September. The assets acquired...

Cyber-Care to buy back shares.
December 1, 2000... Boynton Beach-based Cyber-Care (Nasdaq: CYBR) announced that its board of directors has approved the buy-back of up to 1 million shares of common stock on the open market. "We believe our shares are undervalued and we view this as a way to...

HCA, CIGNA reach agreement.
December 1, 2000... HCA's East Florida division announced it reached a two-year agreement with CIGNA to provide health care services to its members in South Florida and the Treasure Coast at 14 area hospitals. The contract includes all HCA hospitals, surgery...

South Broward Hospital District to evaluate 124-acre purchase.
December 1, 2000... The South Broward Hospital District Board of Commissioners, the body that oversees all actions of Memorial Healthcare System, agreed to evaluate the purchase deal of 124 acres in Miramar during its board meeting Nov. 20. The parcel of land, on...

Sunair Electronics posts profits.
December 1, 2000... Fort Lauderdale-based Sunair Electronics (Amex: SNR) had net income for the fourth quarter ended Sept. 30 of $46,574 or 1 cent a share on revenue of $1.7 million as compared to a loss of $124,057 or 3 cents a share on revenue of $635,786 for...

Sports Authority 3Q loss lessens.
December 1, 2000... The Sports Authority (NYSE: TSA) reported a net loss for the quarter ended Oct. 28 of $4.65 million on revenues of $334.81 million compared to a net loss of $5.23 million on sales of $327,255 for the same quarter last year. In a release,...

Empire of Carolina posts heavy losses.
December 1, 2000... Delray Beach-based Empire of Carolina (Amex: EMP) reported heavy losses, filed for Chapter 11 bankruptcy, had trading halted in its AMEX-listed stock, and elected a new board chairman. The designer, developer and marketer of toys and golf...

Star Services sells 1.8 million shares.
December 1, 2000... Pompano Beach-based Star Services Group (OTC BB: SSVC) announced that it has sold 1.8 million shares of its common stock to several private investors. Star Services is an integrated solid waste services company that provides solid waste...

Fidelity Bankshares to sell shares.
December 1, 2000... Fidelity Federal Bankshares (Nasdaq: FFFL) of West Palm Beach announced that its mutual holding company, Fidelity Bankshares MHC, has approved a plan to convert to a capital stock corporation -- a procedure in which the holding company will...

QuikBIZ posts $1.6 million 3Q loss.
December 1, 2000... The losses continue for Fort Lauderdale-based QuikBIZ Internet Group (OTC BB: QBIZ), which had a loss of $1.6 million or 10 cents a share on revenues of $449,774 for the third quarter ending Sept. 30. That compares to a loss of $18,234 or less...

SEC closes investment firms.
December 1, 2000... A $2 million boiler room operation was shut down in West Palm Beach Nov. 17. The SEC announced that Judge Daniel T.K. Hurley of the U.S. District Court for the Southern District of Florida entered multiple emergency orders to halt an ongoing,...

FFI Fragrances posts record profits.
December 1, 2000... Miami-based FFI Fragrances (Nasdaq: FRAG) posted record net income for its third quarter ended Oct. 31 of $12.5 million or 83 cents a share, compared to net income of $10.6 million or 67 cents a share in the corresponding quarter of the prior...

Perry Ellis posts lower 3Q profits.
December 1, 2000... Miami-based Perry Ellis International (Nasdaq: PERY) reported net income for the third quarter ending Oct. 31 of $400,000 or 5 cents a share compared to $4 million or 58 cents a share for the same period last year. Third quarter revenue...

Imperial income drops, sales double.
December 1, 2000... Pompano Beach-based Imperial Industries posted net income for the third quarter ended Sept. 30 of $95,000 or 1 cent a share compared to $128,000 or 2 cents a share for the same quarter in 1999. Net sales for the quarter were $11.03 million,...

Terremark to borrow $100 million.
December 1, 2000... Miami-based Terremark Worldwide (AMEX: TWW) is planning to make a private placement of $100 million in subordinated convertible debentures. The company also reserves the right to increase the borrowing to $150 million. The debentures will...

Aviation Sales posts 3Q loss.
December 1, 2000... Miramar-based Aviation Sales Company (NYSE: AVS) had a third quarter loss of $27.7 million on revenues of $81.3 million compared to a profit of $4.8 million on revenues of $80 million in the comparable quarter last year. Nine-month loss...

Hi-Rise Recycling has 3Q loss.
December 1, 2000... Hi-Rise Recycling Systems (Nasdaq: HIRI) posted a massive third quarter loss and completely replaced its senior management team. The Miami-based firm had a third quarter loss of $8.1 million or 52 cents a share on revenues of $17 million. That...

Catalina to renew anti-takeover plan.
December 1, 2000... Miami-based Catalina Lighting (NYSE: LTG), a designer, manufacturer and distributor of residential and office lighting products will reauthorize a stockholder rights plan. The new plan will replace an existing five-year plan that expired...

NRPI gets construction financing.
December 1, 2000... Miami-based National Residential Properties (OTC BB: NRPI) received a formal funding commitment of almost $4 million from First Housing Development Corp., a financial institution specializing in construction financing in the southeast. The...

Panamco declares quarter dividend.
December 1, 2000... Panamerican Beverages (NYSE: PB) has declared a regular quarterly dividend of 6 cents a share, to be paid Dec. 29 to shareholders of record Dec. 22. Panamco is a Coca Cola soft drink bottler in its franchise territories of Mexico, Brazil,...

Ryder System, Toyota Tsusho partner.
December 1, 2000... Ryder System of Miami (NYSE: R) has formed TTR Logistics, a joint venture with Toyota Tsusho America and its Japanese parent company, Toyota Tsusho Corp. The new entity, with equal participation from Ryder and Toyota Tsusho, will initially...

Steel Fabricators joins merger.
December 1, 2000... Fort Lauderdale-based Steel Fabricators joined with eight other steel fabrication firms last week to form Fabrication Technologies Corp. (FabTech), headquartered in Houston. Fabco Metal Products of Daytona Beach is the only other Florida...

Trade bills passage prompts businesses to look at Africa.
December 1, 2000... It's no secret that economic opportunity in South Florida is tied to doing business in the Americas. But since the enactment of the Africa-CBI Trade Package Oct. 2, local international businesses are looking to capitalize on new opportunities...

Chasing the tail.
December 1, 2000... Four people have pled guilty to multiple felony counts for illegal harvest and importation of Caribbean spiny lobster tails, according to the Justice Department. The lobster tails were primarily imported into the U.S. through Bayou la...

Millennium snake oil or wonder cure?
December 1, 2000... In the early 19th century, elixir salesman traveled from town to town in Conestoga wagons hyping their tonics to cure all ailments. Through folklore, we've learned to be suspicious of multiple remedy claims and that no one-drug panacea exists...

Serving up celebs for a good cause.
December 1, 2000... The celebrity lineup for the Chris Evert/Raymond James pro-celebrity tennis tourney on Dec. 2-3 in Delray Tennis Center, is now complete. Expected to play are ex-president and father of the possible president-elect George H. W. Bush;...

Stop and get gas.
December 1, 2000... A&W is teaming with Hypoluxo-based Magna Oil to open four new A&W restaurants in Palm Beach, St. Lucie and Okeechobee counties. It's part of a 14-store expansion for A&W in Florida, according to Lexington, Ky.-based Yorkshire Global...

Web-heads hope the Batmobile is next.
December 1, 2000... Take to Auction (AMEX:TTA) of Fort Lauderdale joined with Marvel Comics to sell a super-hero themed Chrysler PT Cruiser -- the first of a series -- on eBay, the online trading community. The auction raised $28,700 for the Jackson Memorial...

T-Rex business center no dinosaur.
December 1, 2000... Fine Printing Impressions has expanded its business operations in Boca Raton to the T-Rex Technology Center. The commercial printer and advertising agency announced it is setting up an on-site full-service business center at 4920 Blue Lake...

A Nose for Sex and the City.
December 1, 2000... If you look like Sarah Jessica Parker or Kim Catrall, stars of the Home Box Office TV hit "Sex and the City," stop by the new A Nose for Clothes store at CityPlace in West Palm Beach at 7 p.m. Friday, Dec. 1. You could win $250 or $500 in...

Icing the deal.
December 1, 2000... The National Hockey League and the Florida Panthers are getting close to signing a deal to bring the NHL All-Star Game to the National Car Rental Center in 2003. The deal is nearly done, said two sources familiar to the negotiations but who...

Gift wrapped in time for championship.
December 1, 2000... Miami Dolphins officials are looking to wrap up a naming-rights deal by the college football national championship game to be held at Pro Player Stadium on Jan. 3. Team officials said they hope to use the national prominence of the FedEx...

Keep mutual funds for long haul to get their value.
December 1, 2000... Dear Mr. Berko: At the beginning of this year, my mutual fund account was worth $116,000. Now it is worth $102,000 - a loss of $14,000 or 12 percent. It really irks me to read about mutual funds that have gone up 40 percent, 50 percent and even...

So much for isolation.
December 1, 2000... So you're ready to buy techno toys this holiday season but you can't figure out which gadgetry to spend it on. Sprint PCS will make life more difficult. Take for example the QCP-2035 dual-band phone (below) with changeable faceplates ($129.99)....

Because you never know.
December 1, 2000... Sure you may not need a tool with a thousand uses but what if you need to unscrew your laptop hard drive, rip open a dossier, or clip a news article from The Business Journal? Leatherman Tools, an Oregon-based company, makes the tool that costs...

Chairman resigns as Empire's losses mount.
December 1, 2000... * Profile: Empire makes toys, including the classic Big Wheel, Crocodile Mile waterslides, Buddy L trucks and cars, and Grand Champions collectible horses. The company also makes seasonal goods, Wilson golf shoes, Mongoose snowboards, and other...

Dr. Eduardo J. Padron.
December 1, 2000... Dr. Eduardo J. Padron, president of Miami-Dade Community College, was chosen Hispanic Role Model of the Year by the Miami-Dade Hispanic Affairs Advisory Board for his contributions to help enhance and develop business, culture, and education in...

Alamo Rent-A Car.
December 1, 2000... South Florida-based Alamo Rent-A Car was named Recommend Magazine's favorite leisure travel car rental.

Robert B. Taylor Jr.
December 1, 2000... The Florida Chapter of the Healthcare Financial Management Association in Miami honored Robert B. Taylor Jr., vice president of finance at Bethesda Memorial Hospital, with the 2000 Fredrick C. Morgan Achievement Award.

Sanford Ziff.
December 1, 2000... The Advertising Federation of Greater Miami recognized the following members with awards: Sanford Ziff, Community Service Award; Robert Parente, Advertising Silver Medal; Don Duggan, Advertising Person of the Year; Alan Brown, The Marine Award;...

Ina Lee.
December 1, 2000... Ina Lee, publisher of TravelHost of Greater Fort Lauderdale, received the Omni Award.

PEOPLE ON THE MOVE.
December 1, 2000... ACCOUNTING Templeton & Co., a firm in Palm Beach, appointed Kendall Reed director of customer relationship technology. Michael A. Crain, accountant with Peed, Koross, Finkelstein & Crain in Fort Lauderdale, was appointed to the...

Miracle Day Luncheon.
December 1, 2000... It was the CIBC Oppenheimer Miracle Day Luncheon that for the first time, was a fund-raiser for 11 Boys & Girls Clubs of Broward County. It featured 325 guests gathered at the Fort Lauderdale Marina Marriott, hosted by Robert Hord Jr., above,...

Outstanding achievement.
December 1, 2000... Albert Dotson Jr., a partner in the Miami law firm Blizin Sumberg Dunn Baena Price & Axelrod presented an Outstanding Achievement A ward to Lynn Washington, a partner with Holland & Knight at the Black Lawyers Association's 15th Annual...

Ocean treasures.
December 1, 2000... The Miami Art Museum annual ball kickoff reception in early October featured mermaids, exotic fish and "blue chic" attire. It was hosted by Jorge Perez, MAM trustee, pictured third from left. Also pictured are from left Gloria and Howard...

Your name is mud.
December 1, 2000... Reputation in business is becoming more and more crucial. A recent study of American consumers indicates that a company's reputation plays a significant role in buying decisions. According to Shandwick International, a global leader of...

Dot.com confidence.
December 1, 2000... How do you know if the Web site you're dealing with is trustworthy? Check out WebAssured, an online company attempting to solve this problem. The company applies a "seal of assurance," which "allows all trustworthy Web sites to compete on a...

PROFITABLE PESTS.
December 1, 2000... Buildout, competition challenge Broward's Crocodile Dundee Lee Gwin has his hands full. A wildlife trapper and entrepreneur based in Fort Lauderdale, Gwin has to deal with increased competition, decreased habitat, uncooperative governments,...

The Strangest Secret -- it isn't strange, it isn't a secret.
December 1, 2000... There are five big reasons people are nervous or afraid of speaking, presenting or selling. 1. Unprepared. 2. Low self image. 3. Low self esteem. 4. Afraid of ridicule. 5. Lack of self confidence. Afraid or nervous...

Small business optimism continues to decline.
December 1, 2000... A growing number of small business owners see signs of an economic slowdown. The NFIB Education Foundation's small business optimism index dropped for the second month in a row in October. The index is based on 10 economic indicators...

Law firm to review EPA diversity.
December 1, 2000... The Environmental Protection Agency, which has been accused of discriminating against minority employees, retained a law firm to review its "workplace fairness and diversity practices." The team from Holland and Knight is led by Weldon...

Health appeals rule 'a step forward'.
December 1, 2000... Business groups say the Clinton administration addressed some of their concerns in the final version of new regulations that require employer-based health plans to offer an internal appeals process for people who want to challenge coverage...

Contract bundling costs small firms.
December 1, 2000... A new study released by the Small Business Administrations Office of Advocacy found that federal agencies are bundling federal contracts into increasingly large packages, at the expense of small contractors. The average bundled contract...

SBA, South Korea in trade partnership.
December 1, 2000... The Small Business Administration and its South Korean counterpart agreed to work together to encourage more American and Korean firms to do business with each other. This trade partnership agreement follows similar deals with Mexico,...

Insurers sue OSHA over rule's impact.
December 1, 2000... A dozen insurance companies challenged OSHA's ergonomics regulation in federal court, the third major lawsuit filed by business groups over the new workplace requirement. Insurers allege the Occupational Safety and Health Administration...

Voters prefer review over lawsuits.
December 1, 2000... A post-election poll commissioned by the managed care industry found that two-thirds of voters think health coverage disputes should be resolved by appeals to independent panels of doctors instead of lawsuits against health plans. Only 2...

No twilight zone.
December 1, 2000... Here's how to summarize the situation of the federal HUBZone Empowerment Contracting program: To know it is to love it -- but knowing of it is the problem. As outlined in a front page Business Journal story, the program is in its third...

Chartering a smart course.
December 1, 2000... Charter Schools USA of Fort Lauderdale seems to be on the right path in trying to grow its business of operating charter schools by creating win/win situations. The prime example is a plan to partner with the South Florida Auto-Truck...

Day of the penguins.
December 1, 2000... Here's the funniest scene you'll read about all day: On the Antarctic islands of the south Atlantic, a flock of penguins struts around in their adorable little tuxedos, sliding on ice, eating fish and doing the penguin thing. Suddenly, the roar...

When your boss is fired, put adaptability to work.
December 1, 2000... At one time, a nightmare scenario for the middle manager involved meeting with the boss and receiving the crushing news: "Due to budgetary cutbacks, we have to let you go. You've been a valued employee and a credit to the organization." ...

Don't take this the wrong way.
December 1, 2000... Before taking this short quiz (no, you don't have to register to test), please read these special instructions: If you live in the Sunshine State and receive a failing grade, immediately demand a recount of your score. If you live anywhere...

Largest SBA-backed Lenders.
December 1, 2000... [TABLE HAS BEEN CLIPPED]

Largest Business Telephone Companies.
December 1, 2000... [TABLE HAS BEEN CLIPPED]

Comprehensive Lifestyle Communications.
December 1, 2000... Comprehensive Lifestyle Communications in West Palm Beach was chosen to provide public relation and marketing services for eActive, a provider of interactive sales and marketing.

Kaufman Lynn.
December 1, 2000... Whole Foods Market, a nutritional food store chain based in Plantation, chose Kaufman Lynn, a construction company in Boca Raton, to construct two new locations in Broward County.

Clarity Design.
December 1, 2000... Clarity Design in Miami was retained by MetroBank to implement an advertising campaign.

Interval International.
December 1, 2000... Consolidated Resorts, a resort in Hawaii that provides timeshare, commissioned Interval International, a company in Miami that provides products and services in the hospitality industry, as the vacation exchange provider for the consolidated...