South Florida Business Journal articles from March 1995

South Florida Business Journal archives from March 1995

Jockey Club buyer has big losses: auditor questioned Sky Scientific's future. (Jockey Club Inc.; Sky Scientific Inc.)
March 3, 1995... Boca Raton - The new majority owner of The Jockey Club Inc., a once-fashionable playground for South Florida society, is a little-known company that had no sales last year, lost nearly $3 million, and is more used to prospecting gold reserves...

Latest studio plan targets Palm Beach. (Palm Beach Ocean Studios; Palm Beach, FL)
March 3, 1995... West Palm Beach - A new player has emerged in efforts to build a movie production complex in South Florida. The latest plans come from Thorpe Shuttleworth, a Palm Beach resident and former rock concert promoter and entertainment lawyer. Last...

Las Olas to get condo tower: luxury units to overlook river. (Las Olas, Broward County, Fort Lauderdale, FL)
March 3, 1995... Fort Lauderdale - A proposed waterfront condo spiraling 45 stories above the New River promises to change the face of Fort Lauderdale's trendy Las Olas neighborhood. Developer Phil Long plans to build a $60 million, 45-story waterfront tower...

Wall Street warms to Wackenhut. (Wackenhut Corrections Corp.)
March 3, 1995... Coral Gables - With its stock price up nearly 200 percent, Wackenhut Corrections Corp. has been one of the best performing IPOs of 1994. The prison management company went public in July at $9 per share. The shares closed at $25 on Feb. 28....

Steak chain quits South Florida. (Sta. Fe Steakhouse)
March 3, 1995... Santa Fe Steakhouse, an Ohio-based chain that made its South Florida debut last spring, has pulled out of this market after losing a major investor. The chain's two South Florida restaurants, at Loehmann's Fashion Island in Aventura and...

New plane propels expansion. (of Embraer Aircraft Corp.)
March 3, 1995... Fort Lauderdale - Embraer, the Brazilian aircraft manufacturer, is gearing up to introduce a 50-passenger twin-engine jet that will require expansion of its local operations. "As the airlines are growing, they need more capacity. We're going...

Arvida eyes Latin deals: CEO Miller steps down in new restructuring. (Arvida Co. CEO Ernest Miller)
March 3, 1995... Boca Raton - Ernest "Bud" Miller is stepping down as president and chief executive officer of Arvida Company as part of a reorganization intended to shed bureaucracy and steer the company into the international market. Arvida, one of Florida's...

Miami partnership files Chapter 11 on N.C. project. (Florida Ridge Ltd.; North Carolina)
March 3, 1995... To stop a public auction of its property, Florida Ridge Ltd., a Miami partnership that owns an apartment complex in North Carolina, filed for bankruptcy. Named in court documents as officer of Florida Ridge Ltd., the general partnership that...

Liquidation by paper goods wholesaler nearly finished. (Graco Paper Co.)
March 3, 1995... North Miami - Graco Paper Co., a paper goods wholesaler in business, expects to complete the liquidation of its assets within the next few months. Graco's only secured creditor, an Israeli bank, already has been paid $850,000. But Howard...

What a concept! University Drive's growth draws concept chains. (restaurants in Broward, Florida)
March 10, 1995... When Rosella Haberman and her husband Charlie moved to Plantation 20 years ago, they were regulars at the International House of Pancakes on University Drive. It wasn't the pancakes that kept them coming back. It was the lack of choices....

Haiti ties air knot; Lauderdale getting passenger flights. (air routes of Halisa Air and AmeriJet International; Fort Lauderdale Hollywood International Airport)
March 10, 1995... Fort Lauderdale - Halisa Air will begin regular daily passenger service next month between Haiti and Fort Lauderdale/Hollywood International Airport. Haitian Aviation Lines, which does business as Halisa Air, expects to start flying between...

Military deal would bring jobs. (Physicians Corporation of America's bid to provide managed health care to military in Southeastern states)
March 10, 1995... Miami - If Physicians Corporation of America is successful in its bid to provide managed health care to military personnel in some Southeastern states, health care providers in the region can expect a business windfall. PCA said it would need...

Is S. Fla. a TV paradise? (South Florida)
March 10, 1995... NBC Productions is considering South Florida as the setting for a television series pilot called Club Paradise: The Great Escape. A producer has been scouting the area and casting is in process, a source said. If all goes well, NBC would set up...

Cargo carrier expanding Miami operations. (AmeriJet International Inc.)
March 10, 1995... But space needs prompt AmeriJet to leave MIA sites Miami - AmeriJet International Inc. is expanding its operations in Miami in a move that will mean at least 50 new jobs within the next year. The Fort Lauderdale-based air cargo carrier...

Ready, set, talk: bank task force draws criticism. (consumers and consumer advocates not included in task force)
March 10, 1995... State Comptroller Robert Milligan's task force to take the politics out of financial regulation has had just one meeting, but already a critic questions why more consumers or consumer advocates weren't included. "How have things really changed...

Milligan: time for regulatory shift. (interview with Florida Comptroller Robert Milligan) (Interview)
March 10, 1995... One of the biggest surprises of last fall's elections was Robert Milligan's defeat of 20-year-incumbent Gerald Lewis in the state comptroller's race. The retired three-star Marine lieutenant general ran as a reform candidate, pledging to transfer...

Dade schools in talks with teaching gurus. (Dade County Public Schools)
March 10, 1995... Miami - As discussions with a private company inch forward, Dade County Public Schools have begun talking to another alternative schools organization about using its teaching methods at 30 percent of all senior high and elementary schools. The...

Software firm's IPO will help pay for deals. (initial public offering of Expert Software Inc.)
March 10, 1995... Expert at a glance Net Net ($ in 000s) Sales Income 1990 $2,615 $471 1991 5,200 837 1992 8,607 670 1993 12,555 (2,340) 1994 ...

Two big thrifts now pursuing bank charters. (Great Western Financial Corp.; California Federal Bank F.S.B.)
March 10, 1995... One of the state's largest thrift holding companies, Great Western Financial Corp., is seeking to establish banks in Florida and California, partly because thrills may have to pay five times as much in insurance premiums as banks by this summer....

Ramsay now operating Puerto Rican HMO. (CAC-Ramsay Health Plan's health maintenance organization in Puerto Rico)
March 10, 1995... Coral Gables - CAC-Ramsay Health Plan executives have begun operating an HMO in Puerto Rico that was recently purchased by its parent, United HealthCare Corp. Meanwhile, other South Florida health insurers are looking at Puerto Rico as a...

Sports Leisure deal ends. (Sports Leisure Inc. plan to merge with Apparel Industries Inc. terminated)
March 10, 1995... Boca Raton - Sports/Leisure Inc., the Boca Raton-based parent of Softouch Co. and Islander Sportswear, has ended its plans to merge with a New York clothing firm. Sports/Leisure said it decided against the merger because it was unable to...

Orlando state film leader; Dade runs second. (film production in Orlando and Dade County)
March 10, 1995... For the second time, the value of film production in Orlando has bypassed that recorded by Dade County's film office. But the figures do not include production figures for the cities of Miami, Miami Beach and Coral Gables. The Metro Orlando...

'Newz' TV show faces production cancellation.
March 10, 1995... Palm Beach - The Newz, a national, late-night comedy show produced by a local company, is in danger of being yanked due to "performance levels, combined with production difficulties," according to Culver City, Calif.-based Columbia TriStar...

Developer teams with ex-Arvida execs. (Dan Catalfumo to team up with John Temple and Bill Shubin to develop Florida Atlantic University Campus)
March 10, 1995... Boca Raton - Two former Arvida Co. executives, John Temple and Bill Shubin, are teaming up with West Palm Beach builder Dan Catalfumo to further develop the 50-acre Florida At]antic University campus. A partnership agreement is in the "letter...

Broker introduces Amway-style real estate firm. (Keller Williams franchise introduced by Brian Haggerty)
March 10, 1995... Boca Raton - A former Coldwell Banker real estate broker bought the regional franchise rights to Keller Williams, a Texas-based concern that marries a traditional brokerage with multi-level recruitment. "In this business, you either starve out...

Contract cleaner files Chapter 11. (Versatech Industries Inc.)
March 10, 1995... Boca Raton - Versatech Industries Inc., one of South Florida's largest contract cleaning companies, has filed for Chapter 11 protection from creditors. Lasting assets of $574,982 and liabilities of $890,761, the company hasn't filed a...

Managed care changing obstetrics practices: about the only thing that hasn't changed is the first step in the birthing process. (Health Care Monthly)
March 10, 1995... Birthing babies is a changing business. In a health care environment where the cost for any service is fair game for reduction, managed care has altered almost every step in the pregnancy process - except for the obvious. To sell health care...

Inphynet's next move: health services for the elderly. (Inphynet Medical Management) (Health Care Monthly)
March 10, 1995... Fort Lauderdale - Health care services for the elderly will likely be the core business of Inphynet Medical Management's South Florida physician practice network. The Fort Lauderdale-based company, which went public last August, is purchasing...

New S. Fla. wellness director stresses broad approach. (Wellness Council of South Florida Executive Director Dwight Reed) (Health Care Monthly)
March 10, 1995... An effective corporate wellness program should deal with psychological and emotional issues, as well as physical fitness, according to Dwight Reed, the new executive director of the Wellness Council of South Florida. "Wellness is about...

SEC eyes Jockey Club owner. (investigation of Jockey Club Inc. majority owner Sky Scientific Inc.)
March 17, 1995... Investigation, breach-of-contract suits cloud Sky Scientific's record Boca Raton - The Securities and Exchange Commission is investigating Sky Scientific Inc., the new majority owner of The Jockey Club Inc., according to several sources....

Bakery Centre approaching mall developer. (real estate developer Michael Comras seeks help of mall magnate Mel Simon to finance acquisition of shopping mall in Miami, Florida)
March 17, 1995... South Miami - Developer Michael Comras reportedly is turning to national mall magnate Mel Simon to help finance a bargain-basement $13 million offer Comras made to the Resolution Trust Corp. for the ailing Bakery Centre at U.S. 1, Red Road and...

Consultant: we're overdosing on doctors. (study finds too many doctors in south Florida)
March 17, 1995... Most doctors in South Florida should practice a new line of medicine or leave town. That's the conclusion of a new study by a Fort Lauderdale medical consulting firm. The study looks at the likely supply and demand for physician services in...

NAL's new niche: poor credit, used cars. (NAL Financial Group Inc.)
March 17, 1995... Fort Lauderdale - NAL Financial Group Inc. is driving into new areas - financing car purchases for buyers with poor credit and selling used cars. It's a change in direction for the company that had focused on buying, selling and servicing...

Life's a beach. (new shopping mall development in Fort Lauderdale, Florida)
March 17, 1995... Lauderdale project lines up major retailers Fort Lauderdale - Beach Place is attempting to lure traditional mall retailers to Fort Lauderdale Beach. The three-story development in the heart of what was once the city's Spring Break district...

To this pair, service is everything. (concierges Ed Ponder and Miguel Pena of Grand Bay Hotel in Miami, Florida)
March 17, 1995... Coconut Grove - It is 1 p.m. on a Friday at the Grand Bay Hotel, and a young mother with a heavy French accent wants to know where she can buy a breast pump. Concierge Ed Ponder, who can find anything from a helicopter to a Super Bowl ticket...

French wine distributor seeks local niche. (Riviera Wine Imports plans to operate in Florida)
March 17, 1995... Hollywood - Riviera Wine Imports, a Hollywood firm with French roots, is looking to make a splash with Florida's wine connoisseurs. "For many years, a few firms have been controlling the wine market in Florida and telling people what they...

SunTrust adding new products. (SunTrust Banks Inc.)
March 17, 1995... SunTrust Banks Inc. is getting ready to expand its menu of financial services and may also begin selling its well-regarded STI Classic family of mutual funds through independent channels. The Atlanta-based company also plans to boost...

Atlanta firm enters South Florida managed care market. (First Physician Care Inc.)
March 17, 1995... Boca Raton - An Atlanta-based company has joined the crowd of South Florida businesses buying medical practices. But unlike their competitors, First Physician Care Inc. (FPC) mainly is interested in providing health services to the affluent....

New TV music network planned: entrepreneur who once tangled with MTV to base company in Palm Beach. (TMZ to be distributed by Liberty Sportscom; Palm Beach County, Florida)
March 24, 1995... Palm Beach - A successful entrepreneur who once went head to head with MTV is preparing to launch a 24-hour, global music network from Palm Beach County. The network will be called TMZ, "The Music Zone" and will be distributed by Liberty...

Investors to buy Grand Bay office. (Grand Bay Office Plaza)
March 24, 1995... Coconut Grove - The Grand Bay Office Plaza is being sold to an investment group that includes Warren Weiser, head of Continental Real Estate Cos. Weiser would provide few details, other than to confirm that the building is under contract and...

White-collar sleuth. (forensic accountant Laurie Holtz)
March 24, 1995... Laurie Holtz has earned a national reputation tracing financial frauds Accounting super sleuth Laurie Holtz got a jump start on his career while in high school. A matchbook offered art scholarships for those who could copy the drawing...

Stomach staples coming back.
March 24, 1995... Coral Gables - A controversial surgical procedure that helps obese people eat less may make a comeback in South Florida. OrNda HealthCorp Inc. last week opened its first stomach stapling program on the East Coast at Coral Gables Hospital. The...

Historic Beach theater adding cafe. (Colony Theater in Miami Beach, Florida)
March 24, 1995... Miami Beach - The Colony Theater, built by Paramount Pictures six decades ago, will honor its heritage with the opening of the 60-seat Paramount Cafe next month. Owned by a partnership that includes the Colony's technical director, the...

Cucaracha war goes south. (Truly Nolen International)
March 24, 1995... Proclaiming Adios, cucaracha, the conspicuous yellow Truly Nolen "mouse" cars have scurried into Latin America to wage war against bugs. With such sales slogans as "Nite-nite, termite" and "I hate creepy crawlies - that's why I love you,...

Patents not so powerful in South Florida.
March 24, 1995... Here's one measure of brain power where South Florida's service economy is a handicap. According to figures from the U.S. Patent and Trademark Office, fewer than 1,000 patents for inventions and original designs were issued to businesses and...

SEC moves on wireless fraud case.
March 24, 1995... The president of Comcoa Ltd., the Boca Raton company that the Securities and Exchange Commission charged with fraudulently selling wireless telephone licenses, has agreed to a judgment barring him from violating federal securities laws. Thomas...

Bankruptcy filing leaves customer orders unfilled.
March 24, 1995... Perrine - Waterbed and Furniture Gallery Inc. has filed for bankruptcy, leaving dozens of customers with claims of unfilled orders - and at least one creditor trying to collect from a sister store that was scheduled to close this week. The...

Encore shares up as firm again retools financing. (Encore Computer Corp.)
March 24, 1995... Fort Lauderdale - After announcing its third recapitalization plan in three years, shares in Encore Computer Corp. jumped 20 percent last week to $3 per share. Encore, a supplier of computer applications and systems, is recapitalizing its...

Buyer's reps play growing role in real estate deals.
March 24, 1995... Boca Raton - The United Way of Palm Beach County knows its business. And it's not real estate site acquisition. That's why when the organization went looking for a new headquarters last year, it called on a buyer's representation company....

Feds to audit hurricane loan: $1 million is sitting in the bank while Key Biscayne collects interest. (Hurricane Andrew loan; Key Biscayne, FL)
March 31, 1995... Key Biscayne - Federal authorities plan to audit a $1 million disaster loan to the village of Key Biscayne amid concerns by at least two Village Council members that the money may not have been used properly. In fact, the post-Hurricane Andrew...

Barnett: 15 days to close mortgage. (Barnett Banks Inc.)
March 31, 1995... Miami - Barnett Bank has launched a new residential loan program guaranteeing that it will be ready to close within 15 days. If not, the first month's mortgage payment is on the house. With the new loan program, yea or nay decisions will be...

New Humana exec: HMO moves to improve plan. (Christy Bell; health maintenance organization)
March 31, 1995... Miramar - Humana Inc. has hired a veteran managed care administrator from Massachusetts to help improve its South Florida health plan. Christy Bell, 45, who was chief executive of the highly regarded Fallon Community Health Plan in Worcester,...

'Taco Bell ruining me': franchisee says corporate shifts chilled Broward burger business. (Hot 'n Now franchisee in Broward County, FL)(includes related article)
March 31, 1995... Fort Lauderdale - A Broward County Hot 'n Now franchisee claims that the hamburger chain's owners, Taco Bell Corp. and PepsiCo. Inc., have sabotaged what was once a promising concept and left him with a failing business. Richard Loehr, who...

Solar seeks Chapter 11 protection. (Solar Financial Services Inc.)
March 31, 1995... Miami - Under investigation by the Securities and Exchange Commission and facing a shareholder lawsuit, Solar Financial Services has filed for bankruptcy protection. The company also disclosed this week that it has lost its outside accounting...

BankUnited on the prowl: thrift sets South Florida expansion plan. (BankUnited, A Savings Bank)
March 31, 1995... Coral Gables - Flush with cash after selling its three West Coast branches, BankUnited has ambitious expansion plans. The Coral Gables-based thrift is actively seeking to buy and open additional branches in South Florida. "We're studying...

Chalk one up for chukker: polo-playing exec gets dream job with museum plan. (contractor Richard Raphael; National Museum of Polo and Hall of Fame)
March 31, 1995... Lake Worth - Richard Raphael couldn't have asked for a more personally satisfying job. Raphael, president of RCC Associates, was selected to build the National Museum of Polo and Hall of Fame in Lake Worth. It's no wonder he's happy about...

Condo set for last Galt Mile site. (Galt Ocean Mile, Fort Lauderdale, FL)
March 31, 1995... Fort Lauderdale - Trammell Crow Residential has teamed up with South Florida condo developers Syndey Wolofsky and Samuel Richter to build a two-tower, 475-unit condominium on the last available site on Galt Ocean Mile. Glenn Ridge Properties...

Music account in play. (Blockbuster Entertainment Corp.'s advertising account)
March 31, 1995... The exciting news: Blockbuster Entertainment Group's $20 million-plus music retail account is up for grabs. The bummer: None of the agencies invited to participate in the review are from South Florida. "There have been South Florida agencies...

Investors push Panda shares. (Panda Project Inc.)
March 31, 1995... Boca Raton - Shares in The Panda Project Inc., a two-year old computer company with no profits and no revenue, have soared nearly 100 percent in the past two weeks, climbing from $13.13 to close at $24.25 on Wednesday. In trading Wednesday,...

PCA joins HMOs entering Puerto Rico. (Physician Corporation of America; health maintenance organizations)
March 31, 1995... Miami - Another South Florida managed care company is buying a piece of Puerto Rico's health care business. Physicians Corporation of America (PCA) says it has signed a letter of intent to make its second purchase on the island: An HMO that has...

Budgetel opens 3rd local hotel. (Budgetel Inns Inc. opens in Sunrise, FL)
March 31, 1995... Sunrise - Budgetel Inns Inc. opened its third South Florida property this month at 13651 NW Second St., just off I-95 in Sunrise. The four-story hotel, which includes 106 rooms and a swimming pool, has the same layout as its sister properties...

Bank of Oslo asks court to award it horse center. (Calder Race Course)
March 31, 1995... Miami - The fight over a thoroughbred training center near Calder Race Course has taken a new twist, with the principal lender moving again to take over the property. The dispute between the owner of the Racetrack Training Center Inc. (RTC)...

Spanish-language shopping network being sued; reorganizing. (TeleBroadcasting Inc.'s TeleCompras Shopping Network)
March 31, 1995... Miami - Tele Broadcasting System's highly touted experiment to launch a 24-hour, Spanish-language shopping network has ended up in bankruptcy reorganization and a $4 million legal tangle. The shopping channel lasted just 45 days before being...