South Florida Business Journal articles from July 1995

South Florida Business Journal archives from July 1995

Club tries to catch casino wave; Jockey Club stock gets push from brokerage. (Jockey Club Inc.; Hunter International Securities)
July 28, 1995... NORTH MIAMI - The new management company appointed to run the financially strapped Jockey Club has big dreams for the once-fashionable playground of South Florida society - operating a fleet of gambling ships, plus building retail stores and a...

New exec's track record: big bucks and failed deals. (Jockey Club Inc.; Clifford Perlman)(Club Tries to Catch Casino Wave)
July 28, 1995... NORTH MIAMI - Clifford Perlman, gambling entrepreneur, founder of Lum's restaurants and now head of Apollo Entertainment Corp., may have a personal interest in operating The Jockey Club. Perlman has owned an apartment at the club for 15...

Dade agency files to start savings bank. (Dade County, Florida Housing Finance Authority)
July 28, 1995... MIAMI - Rejected once, the Housing Finance Authority of Dade County is again trying to start its own savings bank to provide more mortgages for low and moderate income individuals. "We're looking to increase the availability of affordable...

Will this building ever open? More debate on Kramer's SoBe plans. (Thomas Kramer's real estate development projects in Miami Beach, Florida)
July 28, 1995... MIAMI BEACH - Teri D'Amico brought her tour group to a halt across the street from the newly erected 404 Washington Avenue building on a recent sweltering Sunday morning. She could barely disguise her disgust with the brightly colored...

Coping with concurrency: Florida law has changed the way developers do business.(Real Estate Monthly)
July 28, 1995... Instead of creating sprawling new residential developments as before, K. Hovnanian Companies now goes into communities that already exist and develops small parcels. Another builder, equipped with a big enough site and budget to construct a...

Modern mansion: the Conrad home in Miami blends business with pleasure. (Barry and Patricia Conrad)(South Florida Homefront)
July 28, 1995... It's no surprise that the former president of Burger Kings franchise division has a nice place to hang his hat. But features of Barry Conrad's Coral Gables home defy princely imagination: The estimated $3 million home has a master bedroom...

With legal battle behind, Avatar looks ahead. (interview with Avatar Holdings Inc. CEO Edwin Jacobson)(South Florida Homefront)(Interview)
July 28, 1995... "Do it now," reads the plaques on employees' desks at Avatar Holdings' Coral Gables headquarters. "That's an Ed Jacobson motto," says the CEO's assistant, Juanita Kerrigan. But in the case of Harbor Islands, Avatar's 2,400-home development...

Mass-market wedding strategy: Signature Gardens ready to build $12 million 'hitching post' in Davie. (Davie, Florida)
July 28, 1995... DAVIE - Mamas, don't let your babies grow up to marry cowboys. But if they do, consider the town of Davie: home to rodeos, horse farms, Old West architecture . . . and soon, a $12 million, Italian Renaissance-style "hitching post" known as...

New Lincoln renovation under way; retailers pleased, but some not certain project is needed. (Miami Beach, Florida's Lincoln Road)
July 28, 1995... MIAMI BEACH - Lincoln Road, which has gone from tony pedestrian mall to junk shop haven and back again, kicked off a $16.3 million renovation this week in hopes of bringing back its glory days. By year's end, the mile-long street will have...

Off-track push beginning in Homestead. (Homestead Motorsports Complex in Homestead, Florida)
July 28, 1995... HOMESTEAD - The 65,000-seat Homestead Motorsports Complex is still under construction, but hotel manager Katie Saumell already is enjoying its economic benefits. Saumell manages the 114-room Best Western in Florida City, located about five...

Malpractice just 25 percent of cases against Florida docs.
July 28, 1995... Medical malpractice makes up more than 25 percent of the cases brought against doctors disciplined by the Florida Board of Medicine. Second on the list of complaints are physicians who overprescribe or misprescribe drugs. Those are just some...

The IPO pipeline is packed with winners and losers. (initial public offering)(Top 100 Public Companies)
July 28, 1995... SOUTH FLORIDA - Some flew, some sunk. Others never got off the ground. Still more are in orbit. They are initial public offerings, the means whereby private companies can raise millions of dollars while opening themselves up to the scrutiny...

Roadwork losses may be recovered.(Real Estate Monthly)
July 28, 1995... Roadwork can be a boon to drivers but a bust for business. A gas station may lose pumps. A florist may lose space. A dental office may lose parking. Losses can add up. In fact, the loss of only one parking space to road widening can mean...

Condo residents worried about club's future. (Jockey Club)
July 28, 1995... NORTH MIAMI - With management and ownership changes and rumors of a fleet of gambling ships docking there, some residents at the Jockey Club are fed up. Over the past year, concerned residents have written dozens of letters to neighbors,...

Savings' struggles. (Bankers Savings Bank)
July 21, 1995... Gables bank under fed review, may be up for sale CORAL GABLES - These are tough times for Bankers Savings Bank. The $83 million-in-assets thrift saw its lending volume drop by 49 percent, while earnings fell by 18 percent in 1994. This...

Modem exec will do well in Boca deal. (Hayes Microcomputer Products founder Dennis Hayes)
July 21, 1995... ATLANTA - If the proposed merger of Georgia-based Hayes Microcomputer Products Inc. and Boca Research takes place, as appears likely, it will be a bright outcome to the darkest chapter of Dennis Hayes' business career. The merger would help...

Luring the locals. (South Florida hotels)(Hospitality Quarterly)
July 21, 1995... Hotels offer new summer rates and packages to fill rooms As South Florida's long, hot summer months promise fewer tourists, local hotels are banking on creative vacation and meeting packages to lure restless natives. The bait this summer:...

Agents feel the pinch of commission caps. (travel agents)(Hospitality Quarterly)
July 21, 1995... Last February, when the nation's seven major airlines announced their intention to cap travel agent commissions at $50 a ticket, Henry Yaniz knew there was only one way for his Hollywood agency to survive. "If the airlines were not going to...

Top producers leaving Morris firm. (Allen Morris Co.)
July 21, 1995... Pay, lack of affiliation prompt moves MIAMI - One commercial broker at The Allen Morris Co. left because he didn't like the company's new commission structure. Another says he departed for a better chance at national and international deals....

New law test may face surgery. (health care law)
July 21, 1995... They've never operated on a patient nor written a prescription, but 47 Florida attorneys now are board certified in health care - law, that is. However, while they've spent hundreds of dollars and given hours of their time to prepare and...

Investing as a hobby: Palm Beach ranks no. 1 in nation.
July 21, 1995... What do folks in West Palm Beach and Fort Pierce like to do in their spare time? Why, they invest in stocks, bonds and real estate, play tennis and fly. This is according to The Lifestyle Market Analyst 1995, an annual publication of...

Inventory goes just-in-time.
July 21, 1995... FORT LAUDERDALE - When a thief recently broke into a warehouse used to store $1 million worth of medical supplies for the North Broward Hospital District, he might have thought someone got there before him. The place already was cleaned out....

Local tourism outlook brighter for the coming year. (South Florida)(Hospitality Quarterly)
July 21, 1995... The outlook for South Florida's tourism industry is on the upswing. Baring any unforeseen disasters, economically or crime related, we are headed for a strong recovery and terrific growth this coming year. Winter was a great, yet unexpected,...

Wisdom from the Rich man. (Barber and Bronson broker Richard Weinstein)
July 21, 1995... The "Rich" man I'm referring to is a fellow named Richard Weinstein. He's a broker at Barber & Bronson, a boutique Fort Lauderdale securities brokerage. Rich turned 40 a couple of days ago. He's been in the securities business for 15 years....

West Palm in fray for airline: city competing with Orlando and St. Petersburg for midwest relocation. (American Trans Air Inc.)
July 14, 1995... WEST PALM BEACH - American Trans Air, the nation's 10th-largest airline, is considering moving its headquarters to Orlando, St. Petersburg or West Palm Beach. All three cities are offering incentives. Included in Palm Beach County's package...

Sex spells success for entrepreneurs. (Adam Fiveson and Robert Newman launch Xcitement magazine)
July 14, 1995... Adam Fiveson is up to his ears in T and A. Take-home pay and assets, that is. Banking on the premise that "sex sells," Fiveson, a former assistant art director with IBM, and his partner. Robert Newman, once a photo artist with Weekly World...

Jefferson Bancorp next? Negotiations underway. (stock prices increase due to merger frenzy)
July 14, 1995... MIAMI BEACH - This time, it may really be for sale. Jefferson Bancorp Inc. stock has hit several new highs on extremely heavy trading volume - on recent days, more than 10 times average daily volume. On Wednesday, the shares closed at $20, up...

Bock: run HRS more like a business. (Florida Health and Rehabilitative Services administrator Anita Bock)(Health Care Monthly)(Interview)
July 14, 1995... Administrator wants budget autonomy to restore public confidence To stop the state's largest Health and Rehabilitative Services district from failing, the much criticized agency will have to be run more like a business, says Anita Bock, chief...

Providers may lack reserves to cover health care claims.(Health Care Monthly)
July 14, 1995... While almost all of South Florida's health care providers are accepting pre-payments for patients' total care, they may not be ready to accept the financial risk inherent in this type of system. The new system may also place providers in the...

See-saw real estate sales: homebuilders struggling, but brokers beaming.
July 14, 1995... Is South Florida's residential real estate market booming or ailing? It depends on who's talking, and what they're hawking. Some South Florida real estate brokers say the market is booming, but two major homebuilders have seen sales...

New digs, new focus for firm. (Rexel Inc.)
July 14, 1995... CORAL GABLES - It's not often a billion-dollar public company relocates to South Florida. But Rexel Inc., formerly known as Willcox & Gibbs, did just that last year, with none of the publicity and hoopla that surrounded similar corporate...

Parkland's appeal fuels growth. (town in Broward County, Florida)
July 14, 1995... PARKLAND - When she was looking for a new house, Stephanie Saeks fell in love with this booming town in northwestern Broward County. Saeks, a Boca Raton real estate agent, plans to move into a house at the Lakes at Parkland later this year...

Industry turnaround prompts Mako Marine IPO. (Mako Marine Inc.)
July 14, 1995... MIAMI - Mako Marine International Inc., a manufacturer of sportfishing and recreational boats, is seeking to raise nearly $5 million to revive a family-owned business and cash in on what it perceives as a resurgence in the boating industry....

Citizens latest to sell itself. (Citizens Federal Bank F.S.B., Miami, FL)
July 7, 1995... NationsBank strikes again - and quickly MIAMI - The thrift that wasn't for sale was sold. Citizens Federal Bank and its parent, CSF Holdings Inc., are being bought by NationsBank for $516 million in cash. The deal - NationsBank's second...

Lights out for Solar Financial. (Solar Financial Services Inc. stops operations)
July 7, 1995... MIAMI - Solar Financial Services Inc. plagued for years with auditing problems, shareholder lawsuits and a Securities and Exchange Commission investigation, has closed its doors and is being liquidated. Those who invested in the company -...

On your mark, get set, grow. (Mark Group)
July 7, 1995... Catalog deal should expand retailer's base BOCA RATON - The Mark Group, Boca Raton-based parent to the Mark, Fore & Strike: and Boston Proper catalogs, has added a third catalog operation that will expand its all-important mailing list to 40...

Jeweler once again set to expand. (Mayor's Jewelers Inc.)
July 7, 1995... Mayor's adds two stores, acquires Balogh CORAL GABLES - With two new stores on the way and two recent acquisitions under its belt, Mayor's Jewelers is growing for the first time in years despite the recent failure of its third attempt to go...

New owners take airline out of Ch. 11. (Florida West Airlines Inc.)
July 7, 1995... MIAMI - Florida West Airlines is back in business - for the third time. Last week, a bankruptcy court judge approved the $3.5 million sale of the cargo carrier to a consortium led by Richard Haberly, the company's chief executive officer....

Veterinarian finances pet project. (Martin Wilson, owner of Atlantic Animal Clinic)(Finance Monthly)
July 7, 1995... POMPANO BEACH - His business was going to the dogs - and the cats, hamsters and gerbils. So Dr. Martin Wilson, a veterinarian and owner of the Atlantic Animal Clinic in Pompano Beach, asked for financial help to expand his services. Thanks...