South Florida Business Journal articles from July 2000

South Florida Business Journal archives from July 2000

To the victor belongs the dredge spoils.
July 7, 2000... Miami digs up ways to dredge river After years of sitting on the docks and watching the sediments roll away, MiamiDade County officials finally have scooped up buckets of public funds to dredge the Miami River, and provide the economic...

Owners want Jockey Club back in the saddle.
July 7, 2000... After many months galloping through a thicket of legal difficulties, the new owners of Miami's Jockey Club say they have closed on the deal and are on track to seeing this thoroughbred property once again finish in the money as a luxury resort....

$125 million Miramar Center construction set.(Brief Article)
July 7, 2000... Miramar is about to get another tool on its road to rapid growth. Work is expected to begin this summer on Miramar Center, which could ultimately contain 1.3 million square feet with an estimated finish cost of $125 million, real estate...

SEC steps up 5th Avenue Channel investigation.(Government Activity)(Brief Article)
July 7, 2000... The SEC is considering a second stage in its year-long investigation of 5th Avenue Channel Corp. of North Miami Beach. 5th Avenue Channel (Nasdaq: FAVE), which has TV production, Internet and retail divisions, disclosed that news in a...

Prescription for growth: Navarro Discount heads to Broward.
July 7, 2000... Pharmacy's family operation earns high sales, growth Jose "Pepe" Navarro was 20 when he left his job as a stock boy at the Liggett Drug Store on Miami Beach's Lincoln Road to help in his dad's pharmacy. Jose and his younger brother...

CORRECTION.(Brief Article)(Correction Notice)
July 7, 2000... A phone number for thc Crossroads Counseling Center that appeared last week in our openings/expansions section of the paper contained an incorrect area code. The number is (305) 666-3650

'Community bank' means getting CEO on the line.(Brief Article)(Statistical Data Included)
July 7, 2000... It's tough when hankers toss money at hankers. It's even tougher when you're one of the few South Florida independent banks left and everybody wants you. "I must get one phone call every week," said Gary J. Faysash, president and CEO...

SunStar bailout costs could soar to $11 million.(Brief Article)
July 7, 2000... Florida HMOs are paying at least $3.5 million to bail out Central Florida-based SunStar Health Plan and state officials are scurrying to find 5,000 of its former members health insurance coverage through. another plan before the end of the...

CyberSober.com takes shot on the Web.(Statistical Data Included)
July 7, 2000... Fort Lauderdale-based CyberSober.com's for-profit Web site is, well, unusual. The megadirectory contains the dates, times, locations and directions to more than 155,000 meetings and 14,000 treatment centers for a variety of recovering addicts....

VirtualBank finds some concrete deals.
July 7, 2000... VirtualBank of North Palm Beach is counting on a set of agreements with major high-tech companies as its key to a fast start and long term success in Internet banking. VirtualBank late last month announced its first three "affinity...

FTC urged to be 'vigilant' as B2B exchanges boom.(Federal Trade Commission)(Brief Article)(Statistical Data Included)
July 7, 2000... By 2004, $3 trillion in business-to-business transactions will be conducted through electronic marketplaces, AMR Research estimates. The rapid rise of these B2B exchanges is good news for companies of all sizes -- buyers and sellers alike...

Revised rules 'not one bit better'.(government contractors)(Brief Article)
July 7, 2000... The Clinton administration's revised government contractor responsibility regulations failed to satisfy business groups, who say the rules still give contracting officers arbitrary power to blacklist companies involved in disputes with labor...

SBA ups size for construction firms.(Small Business Administration)(Brief Article)(Statistical Data Included)
July 7, 2000... The SBA raised its size standards for companies in construction, dredging and waste-related industries, allowing more than 2,500 additional companies to qualify as small businesses. Effective July 17, construction companies with less than...

Backers hope to find reform vehicle.(bankruptcy reform)(Brief Article)
July 7, 2000... Despite President Clinton's threats to veto the legislation, supporters of bankruptcy reform hope to find a legislative vehicle for the long-stalled measure when they return from their Fourth of July recess. The bankruptcy reform bill...

SportsYA! closes on $11 million.(Brief Article)(Statistical Data Included)
July 7, 2000... SportsYA! said it has secured an $11 million capital investment from investors, among others, that include IMG/Chase Sports Capital, Chase Capital Partners, Flatiron Partners, Ventech and Radio Unica. Radio Unica and SportsYA! also said they...

Vector Aeromotive buys new facility.(Brief Article)(Statistical Data Included)
July 7, 2000... Miami-based Vector Aeromotive Corp. (OTC BB: VCAR) has entered into an agreement to purchase a new facility in the North Miami area, at a price of $2.9 million. The facility is about 65,000 total square feet, which includes about 12,500 square...

Prudential to pull HMOs out.(Prudential Health Care Plan will end Medicare+Choice coverage in South Florida)(Brief Article)
July 7, 2000... Prudential Health Care Plan said it will end Medicare+Choice (HMO) coverage in South Florida next year as part of a larger move by its parent, Aetna, which plans to eliminate such coverage in 11 of 16 states. The decision means nearly 12,000...

Hollywood.com launches new sites.(Web sites for Mexico and Argentina)(Brief Article)
July 7, 2000... Boca Raton-based Hollywood.com (Nasdaq: HOLL), an entertainment-focused Internet company, has launched Spanish-language versions of its Hollywood.com Web site in Mexico and Argentina. The sites feature Hollywood.com's branded entertainment...

Smith-Gardner in magazine's top 500.(Software Magazine has ranked it 247th on its Software 500)(Brief Article)
July 7, 2000... Delray Beach-based Smith-Gardner (NASDAQ: SGAI), a provider of end-to-end software solutions for e-commerce, announced that Software Magazine has ranked it 247th on its Software 500, the magazine's annual list of premiere software and services...

Watsco declares quarterly dividend.(Brief Article)
July 7, 2000... Miami-based Watsco (NYSE: WSO) announced that its board has declared quarterly cash dividends of 2.5 cents a share on both its common stock and Class B common stock. The cash dividends are payable July 28 to shareholders of record as of July...

Office Depot PCs not so free.(Brief Article)(Statistical Data Included)
July 7, 2000... Office supply retailers, including South Florida's Office Depot (NYSE: ODP), have been asked to give the real deal behind free PC offerings, according to the Federal Trade Commission (FTC). On June 29, the FTC announced it reached a settlement...

Flooz.com partners with tech firm.(Brief Article)
July 7, 2000... Flooz.com has announced a partnership with NetByTel of Boca Raton to enable customers to send a gift of Flooz (a type of online currency) over the phone by calling a toll-free number. The launch of this call-in option is for customers who want...

Another suit against Columbia.(Columbia Laboratories class action suit)(Brief Article)
July 7, 2000... The law firm of Wolf Haldenstein Adler Freeman & Herz joined the list of companies filing federal lawsuits seeking class action status against Columbia Laboratories (AMEX: COB) of Aventura. Among the allegations by the law firm: Columbia...

Extended Stay gets neutral rating.(from Paine Webber)(Brief Article)
July 7, 2000... Paine Webber initiated coverage of Extended Stay America (NYSE: ESA). The Fort Lauderdale lodging company received a neutral rating.

Mergenet joins to create NAP.(Mergenet Solutions;)(network access point)(Brief Article)
July 7, 2000... Mergenet Solutions, a Boca Raton Internet incubator, announced it has aligned with AT&T and Global Crossing to support a Florida NAP. A NAP (network access point) is an Internet hub where data traffic from computers moves among fiber optic...

Fit America heads to Daytona.(Brief Article)
July 7, 2000... The logo of Deerfield Beach-based Fit America, the all-natural weight loss program and sponsor of the Jasper Engines and Transmissions Ford driven by Robert Pressley, was displayed on the hood during last week's Pepsi 400 at the Daytona...

Medicare+Choice contracts stay.(UnitedHealthcare of Florida to continue to offer Medicare coverage in south Florida)(Brief Article)
July 7, 2000... UnitedHealthcare of Florida's South Florida division announced that MiamiDade, Broward and Palm Beach county members will not be affected by UnitedHealth Group's national decision to discontinue Medicare+Choice contracts in some parts of the...

American Digital moving, expanding.(American Digital Media moves to expanded headquarters in Cypress Creek, FL)(Brief Article)
July 7, 2000... Internet company American Digital Media, parent of online dbusiness.com, has relocated to expanded headquarters in Cypress Creek. The new editorial and corporate offices will house 40-50 employees and executives, said Haydee Cardenas, American...

Lennar moves onto S&P.(Brief Article)
July 7, 2000... Miami-based homebuilder Lennar Corp. (NYSE: LEN) will replace Meritor Automotive (NYSE: MRA) in the S&P MidCap 400 Index after the close of trading July 6. Meritor is being bought by fellow S&P MidCap 400 member Arvin Industries.

Sports Authority booted off S&P.(Brief Article)
July 7, 2000... Fort Lauderdale-based Sports Authority (NYSE: TSA) was replaced by ViaSat (Nasdaq: VSAT) in the S&P SmailCap 600 Index after the close of trading June 30, for lack of representation. ViaSat designs, produces and markets advanced digital...

Motorola expands in China.(contract with Zhejiang Mobile Communications Corp. for cellular communications infrastructure)(Brief Article)
July 7, 2000... Motorola's (NYSE: MOT) Network Solutions Sector (NSS) has signed a $53 million contract with Zhejiang Mobile Communications Corp. to integrate its Horizonmacro GSM infrastructure solution for macrocellular (wide-area) coverage and capacity at...

MasTec acquires engineering firm.(GMR Telecom)(Brief Article)
July 7, 2000... Miami-based MasTec (NYSE: MTZ) announced the acquisition of GMR Telecom, an e-center engineering and design firm servicing major telecommunications companies and equipment vendors throughout North America. MasTec expects GMR to generate at...

UniCapital sells subsidiary.(UniCapital Securities Corp.)(Brief Article)(Statistical Data Included)
July 7, 2000... Miami-based UniCapital Corp. (NYSE: UCP) announced it received $30 million in cash from its securitization pre-funding arrangement with Ambac Assurance Corp. Under the arrangement, UniCapital received funds in March 2000. Ambac has held the...

eDiets.com signs deal with iVillage.(Brief Article)(Statistical Data Included)
July 7, 2000... Deerfield Beach-based eDiets.com (OTC BB: EDET) an online diet, fitness and counseling center, announced it has signed an $8 million sponsorship agreement with iVillage (Nasdaq: IVIL), operator of iVillage.com: The Women's Network. Under terms...

RailAmerica sells Texas rail.(6.5-mile corridor of land to the state of Texas)(Brief Article)
July 7, 2000... Boca Raton-based RailAmerica (Nasdaq: RAIL), the world's largest short line and regional railroad operator, announced that its West Texas & Lubbock Railroad (WTLR) has sold a 6.5-mile corridor of land to the state of Texas for $9.3 million in...

Pediatrix settles billing case.(Pediatrix Medical Group)(Brief Article)(Statistical Data Included)
July 7, 2000... Sunrise-based Pediatrix Medical Group (NYSE: PDX) paid the state $40,000 to settle charges of overbilling Florida's Medicaid program since Jan. 1, 1997, according to the Florida attorney general's office. Pediatrix owns and operates 150...

Wackenhut to sell N.C. institution.(Wackenhut Corrections Corp., Rivers Correctional Institution in Winton, N.C)(Brief Article)(Statistical Data Included)
July 7, 2000... Correctional Properties Trust (NYSE: CPV), a real estate investment trust, announced that its board of trustees has approved the acquisition of the 1,200-bed Rivers Correctional Institution in Winton, N.C. Currently under development by Palm...

Centex Rooney gets Marriott project.(Centex Rooney Construction Co.)(Brief Article)(Statistical Data Included)
July 7, 2000... Centex Rooney Construction Company in Fort Lauderdale has been selected as construction manager of the Marriott Harbor Beach renovations and spa addition project in Fort Lauderdale. This is the company's fourth project with Marriott. The $10...

Smith-Gardner buys back stock.(Smith-Gardner & Associates)(Brief Article)(Statistical Data Included)
July 7, 2000... Smith-Gardner & Associates (Nasdaq: SGAI) of Delray Beach announced its board of directors has approved a stock repurchase program of up to 1 million shares of common stock "At its current price, we believe that the company's stock is...

Carnival ship to help monitor oceans.(Carnival Triumph cruise ship will monitor health of oceans)(Brief Article)
July 7, 2000... In an alliance with the International SeaKeepers Society, Miami-based Carnival Cruise Lines' 102,000-ton Carnival Triumph will be equipped with a tracking device that collects scientific data to monitor the health of the world's oceans. The...

Columbia Labs hires Banc of America.(Columbia Laboratories, Banc of America Securities L.L.C.)(Brief Article)
July 7, 2000... Aventura-based Columbia Laboratories (AMEX: COB) announced it hired Banc of America Securities to explore a sale or merger of the company or a joint venture. "Our current market valuation does not appropriately reflect the value we see in our...

Conseco's monumental goof in 1998 m es it a good buy today.(stock price analysis)(Brief Article)
July 7, 2000... Dear Mr. Berko: What are your thoughts on Conseco? I bought 300 shares at $16 and it now trades at $6. Should I buy another 300 and average down? S.N., Erie, Penn. Dear S.N.: Conseco (CN-S5.50) made a monumental goof in 1998 when its...

MasTec upgrades, acquisition 'merge' with stock slide.(Brief Article)(Statistical Data Included)
July 7, 2000... * Profile: MasTec lays fiber optic cable, and plenty of it. The firm is the largest end-to-end communications and energy infrastructure service provider in North America where it builds, installs and maintains internal and external...

Spending it on water safety.(Brief Article)(Statistical Data Included)
July 7, 2000... It is unlikely that most boaters will find themselves in a catastrophic situation that leaves them shipwrecked in the middle of the ocean. But watch scenes from the recently released movie "The Perfect Storm" (starring Mark Wahlberg and George...

Casting a wider net.(Ocean Bank opens new branches in Dade County, FL)(Brief Article)
July 7, 2000... Ocean Bank, already the biggest commercial bank based in Miami-Dade, has added branches in Coconut Grove and east Kendall since April - giving it 16 offices in the county. Ocean Bank also is getting ready to build a branch in the western...

Check up on your doctor.(survey of state medical boards reporting of physician disciplinary actions)(Brief Article)
July 7, 2000... State medical boards are responsible for taking action against physician misconduct and making information about those disciplinary actions available to the public. Public Citizen's Health Research Group(HRG) recently conducted a survey of...

Credible signs for foreign doaors.(Brief Article)(Statistical Data Included)
July 7, 2000... International Medical Graduates (IMG), a 44,000-member branch organization of the American Medical Association, earned a victory earlier this month when it won a seat to serve on the Educational Commission for Foreign Medical Graduates at the...

Hell hath no fury like commerce scorned.(Brief Article)
July 7, 2000... Nasty weather brought down high tension lines along I-95 last week leaving motorists and commercial vehicles along the artery in a virtual parking lot. Traffic was halted for more than an hour near Dania.

Vitech back from the devaluation brink.(Vitech America hurt but survives devaluation of Brazilian currency)(Brief Article)
July 7, 2000... When Miami-based computer manufacturer Vitech America (Nasdaq: VTCH) took a $17 million charge for the Brazilian real devaluation, it looked ominous. "It was a very rough time, a difficult time not of our making," said Ed Kelly, Vitech...

Breakfast, lunch and dessert.(Brief Article)
July 7, 2000... Now you can get crullers, Rocky Road and a Hoagie in one place. Allied Domecq Retailing USA, owner of Togo's Great Sandwiches, Dunkin' Donuts and Baskin-Robbins is opening its first Florida three-in-one store today at 4426 Weston Road,...

Say "cheese" please.(Brief Article)
July 7, 2000... Cheese is to Europe what java is to sleep-deprived Americans -- seriously in demand. That hasn't been the case stateside, where the dairy product is looked at more as a commodity. But Sarah Petri is out to change the way we think about things...

Diversity races forward.(Brief Article)
July 7, 2000... HRT Motorsports of Miami, the first Hispanic-owned racing team to compete in NASCAR, has tracked down new sponsorships. Miami-based Spanish- and Portuguese-language sports Web portal SportsYA! paid an undisclosed sponsorship fee to have its...

Martha Y. Garcia.(Brief Article)
July 7, 2000... Martha Y. Garcia, CEO at Coral Gables Hospital, received the 2000 Circle of Excellence Award for outstanding performance and leadership by Tenet Healthcare.

The University of Miami School of Law's Center for Ethics and Public Service.(Brief Article)
July 7, 2000... The Florida Bar Professionalism Award was given to The University of Miami School of Law's Center for Ethics and Public Service and The Miami-Dade County Bar Association for its strength in professionalism and success.

Right Here on Lincoln Road.(Brief Article)
July 7, 2000... "Right Here on Lincoln Road," a half-hour program advertising a variety of shops on South Beach, received the Cable Advertising Bureau's 2000 Award for excellence in securing new businesses.

Aon Consulting.(Brief Article)
July 7, 2000... Aon Consulting, a human resources consulting firm in Miami, received the International Gold Quill Award of Merit for excellence in organizational communications by the International Association of Business Communicators.

Pierson Grant Public Relations.(Brief Article)
July 7, 2000... The Public Relations Society of America awarded Pierson Grant Public Relations in Fort Lauderdale the Silver Anvil Award of Excellence for the strategic campaign, "Better Libraries for a Better Broward."

Maria Triana.(Brief Article)
July 7, 2000... Maria Triana, a controller for The Collection luxury automotive dealership in Coral Gables, received the 1999 Jaguar Cars Business Management Recognition Award for her accuracy and timely submission of financial statements.

A-OK Jets.(Brief Article)
July 7, 2000... The 2000 Achievements in Community Excellence Award was presented to A-OK Jets, a charter and aircraft management company in Fort Lauderdale, for consistently complying with noise abatement procedures.

Joe Gamarano.(Brief Article)
July 7, 2000... Joe Gamarano, founder of Cafe Joshua in West Palm Beach, was given a community recognition award by the Govenor's Council for Community Health Partnerships for his commitment to helping the homeless.

Farrey's Lighting and Bath.(Brief Article)
July 7, 2000... Farrey's Lighting and Bath, a lighting, plumbing, furniture, and accessories store in North Miami Beach, received the Good Samaritan Award by Florida Food Recovery for its donations to the recovery program.

The Greater Fort Lauderdale Convention & Visitors Bureau.(Brief Article)
July 7, 2000... The National Association of Counties gave The 2000 Achievement Award to The Greater Fort Lauderdale Convention & Visitors Bureau for its African-American Service Campaign.

Robert C. Josefsberg.(Brief Article)
July 7, 2000... The American Bar Association Senior Lawyers Division 2000 Pro Bono Award was presented to Robert C. Josefsberg, a partner at Podhurst Orseck Josefsberg Eaton Meadow Olin & Perwin law firm in Miami.

Lookin' for work?(information technology jobs' skill set and demand)(Brief Article)
July 7, 2000... Roughly half of the country's demand for 1.6 million new information technology jobs will go unfilled this year. As it stands, there are already 10 million people employed in the IT field, according to Information Technology Association of...

Write it down.(Brief Article)
July 7, 2000... "Yes, you need a business plan and it cannot be in your head." This was among the first bits of advice I received from my mentor. That was 12 years ago. And today, it is among the first bits of counsel given to newly established...

TO LIFE.(Brief Article)
July 7, 2000... One thing leads to another for restaurateur Twelve Argentinian karate team members passports were stacked on a table. Only six members would be chosen to compete in the 1984 World Karate Championship in Miami and no one wanted it more than...

Monday sales do wonders for your week.(Brief Article)
July 7, 2000... I'm often asked if there is some secret for consistent sales performance. The answer is simple. Have a great Monday. Have a great Friday. If you're looking for consistency in selling performance, try these 8.5 steps. You won't believe how...

PEOPLE ON THE MOVE.(Brief Article)
July 7, 2000... ADVERTISING/PR Arregui International Advertising in Coral Gables appointed Jorge Jimenez- Rojo vice president of LatinAmerican business and marketing. Adrienne Robba was named director of business development at CW/Rampage, an...

Safety above all else.(Brief Article)(Statistical Data Included)
July 7, 2000... The 14-foot high concrete block wall must have been an impressive site just before quitting time at a Boynton Beach construction site Jan. 18. At 142 feet long, it would have stretched almost from the goal line to mid-field in a football...

Forming an e-commerce strategy.(Brief Article)
July 7, 2000... Everyone has been hearing about e-commerce strategy and wonders how do they get theirs? Well it may include a Web site but it doesn't start there, nor should it end there. That is the biggest mistake people make when they think they are...

Angry customers present challenge to employees.(Brief Article)
July 7, 2000... It seems like everybody is angry about something these days. Mild-mannered clerks can fall prey to road rage whenever the freeways clog up. Flight attendants are increasingly the victims of abuse at the hands of stressed-out passengers. And...

Largest Automobile Dealership.
July 7, 2000... [TABLE HAS BEEN CLIPPED]

Agency leader: Lobbyists complete waste of money.(Brief Article)
July 14, 2000... Tell Ruben J. King-Shaw Jr. his state agency has been accused of being cozy with lobbyists and you can expect a strong response. "Lobbyists are a complete waste of money for businesses," said the executive director of the Agency for Health...

A new tilt: Video games at work.(Brief Article)
July 14, 2000... All work and no play makes Jack a dull employee. So to liven up the job a little, some companies are mixing business with video games. "Today it is very difficult to bring businesses together and boost morale amongst employees and this...

Hotel boom adds more than 4,500 rooms.(in South Florida)
July 14, 2000... Like mushrooms after a South Florida tropical rain, new and upgraded hotels are springing up throughout Palm Beach, Broward and Miami-Dade counties. A snapshot shows more than 4,500 new room units (including some time shares) that are...

Truckers' entertainment finn at the crossroads.(Brief Article)
July 14, 2000... What's wrong with this picture? A Coral Springs company's stock goes public on Nasdaq at $17 a share. Now, nine months later, it has lost more than 90 percent of its value, trading this week around $1.30. Meanwhile, Fortune magazine...

Marriott North shooting for extra star.(Fort Lauderdale Marriott North seeking four-star recognition)(Brief Article)
July 14, 2000... With a new managing director and executive chef, the 14-year-old, 321-room Fort Lauderdale Marriott North is hoping to gain four-star, four-diamond recognition. Purchased by a joint venture between Trident and Allied Hospitality Group in...

Microtel making play for South Florida budget travelers.(Microtel Inns and Suites)
July 14, 2000... No frills, easy franchising, low rates attract development Microtel Inns and Suites, a fast-growing, 5-year-old chain of newly constructed, interior corridor, economy hotels, is about to burst on the South Florida hospitality scene,...

NAP of the Americas open for bids.(Brief Article)
July 14, 2000... The long-awaited Network Access Point of the Americas (NOTA) is one step closer to reality. Two proposals connected with the project were released this week. The first, a Developer Request for Proposal, seeks to lease a new or existing...

Senior job open at Daily Business Review.(Daily Business Review Co. seeks new president)(Brief Article)
July 14, 2000... The Daily Business Review Co., publisher of Florida Lawyer magazine and, daily business newspapers in Dade, Broward and Palm Beach counties, is seeking a president to run the publishing company. Edward Wasserman, chairman and...

Florida HMOs see first profit in more than a year.(Brief Article)
July 14, 2000... Marginal quarterly gain follows record loss in '99 Florida's HMOs posted a combined profit of $114 million for the first quarter this year -- the first time they've seen black ink in 15 months. That's good news considering the fact...

SEC woes kilt CyberGuard's Nasdaq listing.(Brief Article)
July 14, 2000... CEO David Proctor, who was brought in to steer CyberGuard Corp. out of a muddy SEC investigation and into profitability, said he suspects the ongoing inquiry into the firewall maker's reporting practices may have thwarted his efforts to get a...

Telzero: the no-cents long distance phone company.(Brief Article)
July 14, 2000... Upstart phone company Telzero wants to make callers an offer they can't refuse: free long distance. The catch? A caller agrees to answer two demographic questions and listen to a minutes worth of advertising for each free long distance call...

Aventura 'dockommium' offers neighborly service.(Brief Article)
July 14, 2000... Capt. Casper Smit and his wife, Heidi, were looking for a private dock with a deep-water slip that offered good pricing, a big turning basin and serious hurricane protection for their 140-foot yacht Al-Dor-Vor. What the South African...