South Florida Business Journal articles from May 1992

South Florida Business Journal archives from May 1992

Cold Warriors unleashed on Medicare fraud; counter-intelligence agents set sights on South Florida. (Federal Bureau of Investigation's squad against health-care criminals)
May 25, 1992... MIAMI -- The Federal Bureau of Investigations is unleashing its Cold Warriors on South Florida's Medicare cheats and their $1 billion booty. Last month the South Florida FBI office created a new 10-agent squad devoted to health care...

The manufacturing edge: Miamian dives into the Chinese labor pool. (Harold Fletcher's sporting goods factories in Taiwan and mainland China)(includes related article) (Company Profile)
May 25, 1992... When Harold Fletcher raises his pen to take an order, the repercussions are felt in Taiwan and the People's Republic of China. In a short span of years, Fletcher's Miami sporting goods company has grown from $11 million to $40 million annual...

Marketing the electrolyte solution: can Chris Bohlman do for Naturalyte what he did for Perrier? (Naturalyte Oral Electrolyte Solution; Christopher Bohlman, president of Unlimited Beverages Inc.)
May 25, 1992... BOCA RATON -- To most people, the subject of oral electrolyte solutions and the dehydration of children these solutions prevent may not seem like exciting topics of conversation. But they are to Christopher Bohlman. Bohlman sits back in the...

Deering Hospital has healthy look after its first year; a far cry from dismal predecessor, Coral Reef. (Deering Hospital, formerly Coral Reef Hospital)(includes related article on hospital administrator Jamie Hopping)
May 25, 1992... Coral Reef Hospital: aging, years behind the times, with a rotating-door administration and less-than-inspired medical staff. Deering Hospital: developing, sporting cutting-edge programs, a staff with a track record and physicians with a...

The retail experience: entertainment enters the mix. (amusement facilities in shopping centers) (Real Estate Monthly)
May 25, 1992... First there was the food court. Then the movie theaters. A basketball court. Computerized golf. And an indoor ski slope. It may not be Hollywood, but it's entertainment. More and more, retailers are turning to creating fun and atmosphere...

Oriole Homes Corp. (Proxy Report Excerpts) (Company Profile)
May 25, 1992... Oriole Homes Corp. has built and sold single-family homes, patio homes, townhomes, villas, duplexes and low- and mid-rise condominiums in planned communities in southeast Florida since 1963. During each of the last three years, Oriole was the...

Counting on change: Fernandez Haar has taken what the market offers to build successful multilingual advertising agency. (Ana Maria Fernandez Haar, president and founder of IAC Advertising Group Inc.) (International Weekly)
May 25, 1992... Ana Maria Fernandez Haar has always been one for seizing a good opportunity. As a successful, secure banker in 1978, she saw a chance to strike out on her own and did so, choosing the rough-and-tumble world of advertising. Today, as...

Benefits of IRS '936' program under scrutiny. (Internal Revenue Service; Section 936 of the Internal Revenue Code) (International Weekly)
May 25, 1992... Investors in Caribbean Basin Initiative (CBI) countries are rushing to take advantage of new regulations governing loan funds available under Section 936 of the U.S. Internal Revenue Code. But tax experts say the Section 936 provisions still...

Williams Island residences exacting in detail; models offer a variety of special features. (Advertising Supplement: Luxury Living)
May 25, 1992... The luxury condominium residences on Williams Island are designed for comfort and perfection. Located on the Intracoastal Waterway between Fort Lauderdale and Miami, Williams Island is a residential resort community that offers a complete...

The Isles at Lake Coral Springs - "ultimate in gracious living." (sophisticated private community in Coral Springs, Florida) (Advertising Supplement: Luxury Living)
May 25, 1992... CORAL SPRINGS -- Privacy. Beauty. Casual elegance. Convenience. A lifestyle oriented to a picturesque 120-acre lake. The new Isles at Lake Coral Springs offers all that, and much more. Formally introduced in February, The Isles is being...

Cocowalk: inviting and entertaining the locals. (CocoWalk shopping center in Coconut Grove, Florida) (Real Estate Monthly)
May 25, 1992... It stands in sharp contrast to nearby Mayfair COCONUT GROVE -- James Assali takes his friends to CocoWalk, watching a movie, eating dinner, catching a comedy show. More likely than not, he and his buddies skip over Mayfair, the graying...

Villa Flora offers outstanding Boca lifestyle. (Villa Flora residential community at Boca Raton, Florida) (Advertising Supplement: Luxury Living)
May 25, 1992... BOCA RATON -- Settle into a magnificent Mediterranean-style residence at Villa Flora and you'll find yourself just a short walk or bike ride from a world-class country club lifestyle. The internationally famous Boca Pointe Country Club offers...

Hialeah hopes annexation can move beyond compromised past. (planned real estate development in Hialeah, Florida) (Real Estate Monthly: Spotlight on Hialeah)
May 25, 1992... With its eye on 15 miles of unincorporated Dade County, the city of Hialeah hopes to hire the internationally known architecture firm of Duany & Plater-Zyberk to sell its expansion dream to Dade County. Hialeah planners estimate that if the...

The Waterways offers luxury high-rise towers. (opulent residential community) (Advertising Supplement: Luxury Living)
May 25, 1992... AVENTURA -- For those who covet breathtaking oceanfront views and intracoastal living blended with the ultimate in privacy, the luxury residences of One Island Place at The Waterways are the answer. Homebuyers are drawn to the romance and...

Boca Grove Plantation: Boca's best new home site. (Boca Raton, Florida) (Advertising Supplement: Luxury Living)
May 25, 1992... In a classic case of supply and demand, homes and homesites at Boca Raton's Boca Grove Plantation have been moving quickly this past year. The supply of golf memberships at the Boca Grove Golf & Tennis Club is restricted to 350 property...

Lots of deals pitched for Piper: Millar out as chairman, but may weigh in as buyer of bankrupt aircraft maker. (M. Stuart Millar resigns as chairman of Piper Aircraft Corp.)
May 18, 1992... VERO BEACH -- The resignation of M. Stuart Millar as chairman of Piper Aircraft Corp. has cast yet one more shadow on the future of America's last small aircraft manufacturer. Because the bankrupt company faces huge potential liability from...

Roosevelt Brockington cleans up: mobile car wash owner aims to boost employees, too. (Unique Car Wash) (Company Profile)
May 18, 1992... MIAMI -- Roosevelt Brockington runs up and down the halls of the Koger Office Park in west Dade every Friday morning. "Carwash anybody? Need a carwash?" Brockington realizes his business -- the business of washing other people's cars --...

Capitalist ploy: travel agents piqued by Intourist incursion. (Vao Intourist acquires 75% of Rahim Tours)
May 18, 1992... LAKE WORTH -- A Russian tour operator's recent purchase of a Palm Beach travel agency has fired a new cold war among the Russians and their former American associates. One group of travel agents is so piqued at the Russian's capitalist ploy...

Contact lens battle heats up: Pompano direct seller fights manufacturer. (Lens Express Inc.; Vistakon Inc.)
May 18, 1992... POMPANO BEACH -- It's the war of the lenses. A giant contact lens manufacturer has issued orders that only eye professionals can sell their popular disposable product, whipping it away from scores of direct marketers. But Lens Express, a...

CareFlorida to drop suit against rival PCA. (PCA Health Plan of Florida)
May 18, 1992... Who 'owns' Medicare patients a key legal issue MIAMI -- After months of tense, behind-the-scenes discussion, CareFlorida executives say they are dropping a patient-stealing suit against a rival HMO and the head of one of its provider groups....

Royce Labs opts to keep probe secret. (Royce Laboratories Inc.; bioequivalence stufy of Feldene replica)
May 18, 1992... MIAMI -- Royce Laboratories Inc. has refused to release the findings of a Food and Drug Administration inspection that caused the agency to withdraw tentative approval for Royce's version of Feldene, a drug that could brought a rosy future to...

Austins eatery offers stock for expansion.
May 18, 1992... FORT LAUDERDALE -- Austins, a restaurant chain with one Broward location, open for six months, hopes to raise $4.4 million through an initial public offering of stock. The Fort Lauderdale-based company plans to sell 1.15 million shares of...

Devcon's earnings take a dive. (Devcon International Corp.)
May 18, 1992... DEERFIELD BEACH -- Caribbean operations are keeping Devcon International Corp. profitable, while the company's South Florida operations reflect a continuation of a soft real estate market. The Deerfield Beach diversified construction and...

Cordis faces import sanctions, begins heart-valve recall.
May 18, 1992... MIAMI -- Cordis Corp. has admitted in federal documents to the Securities and Exchange Commission to potential problems with its products, following a ban on Cordis neuroscience imports from France. One set of problems relates to Cordis heart...

Sundown shines on Boca Raton, Arvida Park. (Sundown Vitamins plans warehouse and distribution facilities)
May 18, 1992... BOCA RATON -- Sundown Vitamins, a 17-year-old health food company, is looking north to Boca Raton for its warehouse and distribution operations and may look later for its corporate headquarters. The company with more than $100 million in...

Boca Raton Capital Corp. withdraws SEC registration. (Securities and Exchange Commission)
May 18, 1992... BOCA RATON -- Boca Raton Capital Corp. has filed with the Securities and Exchange Commission to withdraw its registration as a business development company. Company spokesman Irwin J. Newman said the move will allow the company to present...

Jobless bankers best options found out of state. (Bank Employment News publisher Frank Marafiote creates data base of banker resumes and job postings)
May 18, 1992... CONCORD, N.H. -- South Florida's legions of unemployed bankers can take hope; a New Hampshire publisher is on their side. Frank Marafiote, publisher of Bank Employment News, has begun a jobs database aimed at finding work for bankers out of...

The World Trade Center Miami calls for county funding. (needs $500,000 from Metro-Dade County) (World Trade Week 1992: A First for Miami - May 18-22.)
May 18, 1992... To expand its international trade service, the World Trade Center Miami needs $500,000 from Metro-Dade County, says Derek Lyth, president of the center. The funds would help the World Trade Center develop new international markets for Dade...

World Trade Week: a 'how-to' guide to international business opportunities. (World Trade Week 1992: A First for Miami - May 18-22.)
May 18, 1992... As international trade blossoms in the 1990s, South Florida's business leaders are asking: * What are the best foreign markets for my company's products? * Where can I meet buyers for my merchandise or services? * What is the best way to...

'Cuba? No, we're not interested.' (US businesses obtains marketing information on Cuba) (International Weekly)
May 18, 1992... ('Pssst! But exactly what's happening down there, anyway?') A new report by a New York research firm reflects a widespread, if somewhat secretive, interest among U.S. businesses in obtaining marketing information on Cuba. "Some companies...

Coral Gables multinational clan on upswing. (multinational corporations) (International Weekly)
May 18, 1992... It's at all-time high of 118 after 1980s drop to under 70 Once again, the city of Coral Gables is finding its fortunes tied to those of Latin America. The number of multinational corporations with international divisions in Coral Gables is...

Atlantis Group Inc. (Proxy Report Excerpts) (Company Profile)
May 18, 1992... (ASE: AGH) Atlantis Group is a plastics company with interests in the furniture manufacturing and insurance industries. Atlantis' plastics operations provide a broad range of products and services to industrial, commercial and consumer...

World Trade Center: helping international commerce. (World Trade Week 1992: A First for Miami - May 18-22.)
May 18, 1992... As Greater Miami's voice of international trade, the World Trade Center provides trade leads, referral information and contacts for businesses. "Our mission is the promotion of two-way trade," Charlotte Gallogly, executive vice president....

Foreign trade drives Miami's economic growth. (World Trade Week 1992: A First for Miami - May 18-22.)
May 18, 1992... It's the strongest business sector in Greater Miami. It generates about 260,000 jobs. It contributes more than $15 billion a year to the economy. International trade is the most powerful business force in Miami today, with the potential...

Miami International Airport: expanding to meet demand. (World Trade Week 1992: A First for Miami - May 18-22.)
May 18, 1992... Miami International Airport has begun the first phase of a $500 million cargo revitalization and expansion plan. On-site cargo operators will be moved into state-of-the-art facilities that will allow for the projected growth of more than 2...

Port of Miami: passenger cargo gateway. (World Trade Week 1992: A First for Miami - May 18-22.)
May 18, 1992... New passenger terminals and cargo facilities are under construction at the Port of Miami, the cruise capital of the world. The port boasts the world's largest year-round home-based cruise fleet, with 20 cruise ships operated by 10 cruise...

Downtown Miami: area draws international business, finance, tourism. (World Trade Week 1992: A First for Miami - May 18-22.)
May 18, 1992... With its attractive bayfront and riverfront setting, downtown Miami is a crossroads for international business, finance and tourism. International banking has made Brickell Avenue the Wall Street of the South. Forty-one foreign agency and...

Irwin Jacobs bidding on Bertram Yachts.
May 11, 1992... MIAMI -- Minneapolis investor Irwin Jacobs is giving Gruppo Verasi, one of Italy's largest financial concerns, a run for its money in bidding for Miami darling Bertram Yachts. Jacobs has been interested in Bertram for at least two years. He...

Liberty City center may close. (Miami-Dade Community College North Campus' Liberty Entrepreneurial Education Center)
May 11, 1992... Post-riot M-DCC job project threatened by budget, tax shortfalls MIAMI -- They called it one of the few beacons of light resulting from the riots that seared Miami in the 1980s. And now, this decade's wave of drastic budget cuts may force...

Taking the juke out of the box: Video Jukebox Network launches new name to match cutting-edge image. (Industry Overview)
May 11, 1992... In the '80s, MTV was an innovator, giving the music industry new life and launching music videos into the mainstream. But industry insiders say the innovative push these days is coming from Video Jukebox Network (VJN), a Miami-based public...

Texas-based Bizmart moves in on Office Depot's home turf.
May 11, 1992... PLANTATION -- Another major office supply player is moving into Office Depot's backyard. Bizmart, an office supply and machine mega-store from Arlington, Texas, will open a 30,000 square foot store in the Best Plaza Center on University...

Region's largest Century 21 prepares to go independent. (Braun & May; Century 21 South Florida)
May 11, 1992... The Realtors are restless over at Century 21. Braun & May, the largest single brokerage in the Century 21 South Florida, is taking its 250 Realtors and going solo. And the Century 21 Executive One franchise in Miami bought out Miguel De La...

Equitable sues to force Allied Stores to fill vacant Dadeland Mall space. (Equitable Life Assurance Society)
May 11, 1992... MIAMI -- Equitable Life Assurance Society wants Allied Stores to either open up in Dadeland Mall or get out. Equitable owns the giant regional mall in Kendall, but claimed in Dade County Circuit Court in a suit filed May 6 that Allied Stores...

Royce struggles to regroup following FDA drug rejection. (Royce Laboratories; Federal Drug Administration)
May 11, 1992... MIAMI -- Drug maker Royce Laboratories may lose its three-year race to become the first company to market a generic version of Feldene, a popular arthritis remedy. And that could cost the company millions. Royce stock has been under assault...

East Europe a road map for Cuba claims: but claims from post-1959 U.S. citizens not included in federal program. (International Weekly)
May 11, 1992... For thousands of U.S. citizens and companies that lost property when Fidel Castro came to power in Cuba, the fall of the Iron Curtain in Europe may have far-reaching effects on how their claims are settled if a new government comes to power in...

AT&T's export hotline gets plenty of requests. (American Telephone & Telegraph Corp.'s 800 USA-XPORT service) (International Weekly)
May 11, 1992... But test shows data provided has significant flaws American Telephone & Telegraph Corp. remains upbeat about its new 800 USA--XPORT service that provides export information to U.S. businesses. AT&T spokeswoman Jacqui Brier pointed out that...

Local hospitals actively enter the legal labyrinth. (Healthcare Bimonthly) (Industry Overview)
May 11, 1992... Mortgage foreclosures and collections suits abound Some scenes from a continuing legal drama: * After Steve DiGiacomo's wife gave birth at Jackson Memorial Hospital, he asked for an itemized bill before paying. Jackson didn't produce a...

Case study: no itemized statement, just a lawsuit. (Jackson Memorial Hospital sues Stephen DiGiacomo over uncollected medical bills) (Healthcare Bimonthly) (Industry Overview)
May 11, 1992... Stephen DiGiacomo says that Jackson Memorial Hospital could have had its money long ago. "I (just) asked them for a list of payments and a list of charges," DiGiacomo said. "And then I was ready to send them their money. But (the collections...

Nursing homes hit by more, and sicker, patients. (Healthcare Bimonthly) (Industry Overview)
May 11, 1992... Industry evolution means cost cuts, seeking niches Pediatrics, rehabilitation and AIDS care may not be "traditional" nursing home services. But specialty programs may be the wave of the future for the industry. The region's nursing...

South Florida nursing homes pre-tax net revenue. (Tabular data only) (Healthcare Bimonthly) (Illustration)
May 11, 1992... BROWARD COUNTY Aviva Manor ($892,916) Beacon Pointe ($1,519,302) Beverly Manor of Margate ($139,528) Broward Convalescent Home ...

Computer Products Inc. (Proxy Report Excerpts) (Company Profile)
May 11, 1992... Computer Products designs, develops, manufactures and markets the following lines of electronic products and systems: 1) power conversion products for electronic equipment used in commercial and industrial applications requiring a precise and...

For top law firms, it's the age of the specialist: they zero in on specialty areas to grow practices. (Industry Overview)
May 11, 1992... Law firms have adopted dramatically different agendas for practice development to combat the effects of the recession. Some firms have expanded into new areas of concentration. Others have stuck to established fields. And still others have...

Signs abound of an economic spring; plenty of indicators, abundant anecdotes show area business trending up.
May 4, 1992... All the signs are not positive, nor is all the data compiled. But there are clear indications the recession as we have come to know it is behind us. Interest rates are down, and so is inflation, with the local consumer price index growing...

Hospitality industry casts a wary eye toward Cuba.
May 4, 1992... American hoteliers are still writing their scripts to take advantage of Cuba's reopening to U.S. companies, while international hoteliers are performing dress rehearsals. But insiders say the industry that could bring Cuba economic boom also...

AV-MED cancels contracts; hospitals fire back with ads. (Av-Med Health Plan Inc.; Parkway Regional Medical Center Inc., Cedars Medical Center, Coral Gables Hospital, Miami Heart Institute)
May 4, 1992... Walter Gassner wants potential health insurance buyers to know, along with all of AV-MED's present customers: If you're an AV-MED subscriber, you can't get claims paid for services rendered at Parkway Regional Medical Center, Cedars Medical...

Who really profited from College Bound? Plenty of questions remaining beyond SEC action. (Securities and Exchange Commission)
May 4, 1992... BOCA RATON -- The Securities and Exchange Commission may have answered some of the questions concerning College Bound when it filed suit against the company April 23, alleging that top executives cooked the books. But it also left many...

Int'l Airline Support sued over Jetborne deal. (Garrick Overseas International Inc. sues International Airline Support Group Inc.; Jetborne International Inc.)(includes related article on IASG debt offering)
May 4, 1992... Defendant: Garrick Overseas claim is frivolous MIAMI -- Garrick Overseas International, a company once owned by international arms dealer Adnan Khashoggi, claims Miami's International Airline Support Group failed to live up to a contract...

Quarterly economic report: a statistical overview of South Florida market conditions.
May 4, 1992... TABULAR DATA OMITTED TABULAR DATA OMITTED Selected Florida bank deposits Fourth quarter comparisons Dollar amounts rounded to nearest thousand All Florida Banks 12/31/90 $116,259,240 12/31/91 $119,581,724 $ chg. ...

The Italians rediscover South Florida: they're coming in increasing numbers to work, to play and to invest. (includes related articles) (International Weekly)
May 4, 1992... The affluent and adventurous of Italy are again landing on these tropical shores. A year ago, as South Beach shots of slinky models poured into Europe, the Italian press started touting Miami. Last month's issue of Italy's Panorama magazine...

Patten Corp. (Proxy Report Excerpts) (Company Profile)
May 4, 1992... (NYSE) Patten Corp., whose predecessor began operations in 1966, acquires large undeveloped rural and recreational properties, which in fiscal 1991, ranged in size from 6 acres to 1,250 acres. The company then subdivides these properties...