South Florida Business Journal articles from October 2001

South Florida Business Journal archives from October 2001

SBA program's results fall short.(Small Business Administration's 8(a) program provides government contracts to minority-owned businesses)(Statistical Data Included)
October 5, 2001... Roberto Bravo never felt discriminated against. The Argentina-born business owner was competing and winning government health care contracts, and his Miami-based RGB Group grew steadily. Then, a government purchasing agent suggested how to...

Reservist call-up presents challenges.(Uniformed Services Employment and Reemployment Rights Act )
October 5, 2001... With more than 15,000 men and women called up for active duty in the past two weeks, and military leaders warning that more will be needed, companies in South Florida are asking how to handle the exodus of some if their best workers. The...

Picks are tough in this market.
October 5, 2001... Will the dark clouds of terrorism keep the economy and the stock market in the doldrums this fall? Or will the U.S. military response be a silver lining that will help spur a gradual market recovery, or even provide a fast jump-start? We...

Charities worry about what's left.(Florida gives to New York relief effort while economic situation is worsening at home)
October 5, 2001... Nobody wants to sound insensitive, but with nearly $700 million raised for terrorist victims in New York, Washington and Pennsylvania, charities in South Florida are worried if enough will be left here. South Florida's business community...

Deal closes for Costco's 69-acre distribution site.(Costco Wholesale Corp.)(Brief Article)(Statistical Data Included)
October 5, 2001... After nearly 14 months under contract, Costco Wholesale Corp. (Nasdaq: COST) sealed its $2.7 million deal on Sept. 25 to buy 69 acres in suburban West Palm Beach. Costco first put the land under its contract in August 2000, but wouldn't...

Victim of injustice takes 'tiny step' toward justice.(Fred Seraphin, Miami-Dade County public defender)(Brief Article)
October 5, 2001... To understand justice, it helps to know injustice. Ask Miami-Dade County public defender Fred Seraphin, 43. Seraphin is one of six lawyers from a field of 47 applicants nominated Sept. 6 to fill a Miami-Dade county court seat vacated by...

The Mall at Wellington Green anything but blue.(terrorist attacks' impact on holiday shopping season)(Brief Article)
October 5, 2001... If timing is the coin of life, The Mall at Wellington Green would seem shortchanged. It's grand opening today comes just three-and-a-half weeks after the terrorist attacks Sept 11: Worries about the economy have deepened, too, but the...

Transportation delays make Ivax stock woozy.(Ivax's stock price drops)(Statistical Data Included)
October 5, 2001... Honesty may be the best policy. But when Ivax spokesman Howard Goldman wrote a letter to shareholders Sept 20, his honest concerns about shipping delays may have triggered the biggest one-day drop in Ivax's stock price this year. Ivax...

Hines' Boca plan scrubbed.(Boca Raton developer pulls out)(Brief Article)
October 5, 2001... A Houston-based developer's plan to march into Boca Raton is the latest to be detailed by the nation's souring economy. Hines Interests has pulled the plug on its acquisition of a 20-acre parcel on Congress Avenue in northern Boca Raton....

Premier American seeks to fill community void.
October 5, 2001... For newly opened Premier American Bank, a management team headed by prominent banker Oscar Bustillo and $12 million in startup capital could be the keys to a fast start during a particularly tough economic environment. Premier American...

Lawyer with two brains juggles writing, practice.(Michael Greene )(Brief Article)
October 5, 2001... "If I'd given a course in dissection of cockroaches, Michael Greene would have taken it:' retired humanities professor Richard Janaro said. Janaro, 70, picked the budding novelist and future prominent Coral Gables business lawyer -- then...

Virtual Academics posts gain.(Brief Article)
October 5, 2001... VirtualAcademics.com of Boca Raton (Nasdaq: VADC) announced net earnings of $322,766 or 4 cents a share for the fiscal year ending June 30 as compared to a net loss $408,546 or 6 cents a share for the year earlier:

Aviation Sales system gets OK.(Brief Article)
October 5, 2001... Aviation Sales Co. of Miramar (NYSE: AVS) announced a subsidiary Timco Engineered Systems, has obtained FAA approval for its secure cockpit system. The system is in production and available for installation, the firm said in a prepared...

BEAV offers security product.(Brief Article)(Product Announcement)
October 5, 2001... B/E Aerospace of Wellington (Nasdaq: BEAV) announced a cockpit security product that it said could be ready for installation on passenger aircraft by January. The system has as its centerpiece an antiballistic cockpit door, B/E Aerospace...

Marex juggles execs.(Brief Article)
October 5, 2001... Miami-based Marex (Nasdaq: MRXX) has trimmed its burn-rate to $550,000 a month and juggled some staff positions, according to a written statement from the company. Kenbian Ng stepped down as CFO for the marine industry business-to-business...

Moody's cuts Royal Caribbean rating.(Brief Article)
October 5, 2001... Moody's Investors Service of New York said it downgraded senior unsecured longterm debt ratings for Miami's Royal Caribbean Cruises (NYSE: RCL) to Ba2, reflecting deterioration in the company's credit measures before Sept. 11. It said that...

Lennar orders fall.(Brief Article)
October 5, 2001... Lennar Corp. of Miami (NYSE: LEN) said preliminary new home orders fell 22 percent in September. "As expected, our overall monthly new home orders were down 22 percent," said President Stuart Miller in a statement. "Nevertheless, we were...

Andrx joins Nasdaq 100 Index.(Brief Article)
October 5, 2001... Andrx Group (Nasdaq: ADBX) of Davie, a specialty pharmaceutical company, became a component of the Nasdaq 100 Index this week. It replaces At HomeCorporation (Nasdaq: ATHMQ).

Plastic Lumber gets reprieve.(Brief Article)
October 5, 2001... U.S. Plastic Lumber of Boca Raton (Nasdaq: USPL) announced it has been notified by Nasdaq that the listing qualification notice received Sept. 5 has been suspended until Jan. 2. Nasdaq announced this week that it was suspending its minimum bid...

Innkeepers lowers outlook.(Brief Article)
October 5, 2001... Innkeepers USA Trust of Palm Beach (NYSE: KPA) said revenue per available room will be lower than expected because the Sept. 11 attacks have led to a decline in travel. The real estate investment trust said in a prepared statement revenue...

ANC Rental gets loan deferral.(Brief Article)
October 5, 2001... ANC Rental Corp. of Fort Lauderdale (Nasdaq: ANCX) announced it has reached agreements with its lenders to defer a principal payment of $70 million that would have been due this week. In addition, certain financial covenants have been suspended...

These power stocks have potential in Mideast war.
October 5, 2001... Dear Mr. Berko: I'm convinced that the Middle East will cut our oil supplies soon. Can you recommend some companies I can add to my portfolio just in case oil reaches $40 a barrel? I think war is inevitable. A.M. Dear A.M.: I agree....

Dryclean USA earnings get pressed.
October 5, 2001... * News: Dryclean USA reported reduced earnings and revenues Sept. 27 for the fiscal year ended June 30. Profits were $122,471 or 2 cents a share this year compared to $965,449 or 13 cents a share last year. Revenues were $18.72 million...

City National's 'reluctant' president.(Leonard Abess, Jr. promotes Thomas Brady to president of City National Bank of Florida)(Brief Article)(Statistical Data Included)
October 5, 2001... At City National Bank, many employees have "thought that Tom [Brady] was president" for several years, said Leonard Abess Jr., the Miami-based bank's chairman, CEO and largest owner. So, in early September, Abess, who also held the title of...

Passing the soccer ball.(leadership change in Florida Bankers Assn)
October 5, 2001... To mark the Florida Bankers Association's traditional passing of its annual presidency, Marcos Pereira of Unibanco will move to the side of a podium and kick a ceremonial soccer ball to David Konfino of Union Planters Bank. Konfino,...

Let us entertain you.(design of new Office Depot store)
October 5, 2001... Office Depot (NYSE: ODP), the Delray Beach-based office product retailer, has introduced new store designs in select markets in Florida. Its recently opened Palm Beach Gardens location on PGA Boulevard uses the "racetrack" store layout...

Don't be so shallow.(Nautical Niche has new submarine for sale)(Brief Article)
October 5, 2001... Nobody said you weren't deep. Now you can buy a 69-foot bright yellow submarine that holds 24 people in relative deep-sea comfort. To get this one-of-a-kind submersible, just be first in line at the Oct. 25 opening of the Fort Lauderdale...

Cowabunga dude! Surf's up.(Natural Resources Defense Council reports less water contamination in Florida beaches)(Brief Article)(Statistical Data Included)
October 5, 2001... Sharks may still keep the faint-hearted out of the water, but the deep blue is squeaky clean thanks to the finally diminishing drought. A report released last month by the Natural Resources Defense Council finds that the number of Florida...

What's under there?(professional personal organizers)
October 5, 2001... What could possibly be living under that pile? Are there gerbils? Stock certificates from the 1800s? Quarter Pounder and Whopper wrappers? Sort-It-Out, a professional organizing service, is holding its second contest to crown a winner of...

Henry C.Alexander Jr.
October 5, 2001... Henry C.Alexander Jr.,VP of Matteo Rizo & Partners in Miami, was honored with the Hilliard T. Smith Community Services Silver Medal by the Florida Association of American Institute of Architects.

IRT.(won customer service award)(Brief Article)
October 5, 2001... Fort Lauderdale-based IRT was awarded the 2001 Award for Customer Contact Excellence for the best online customer service program by a service agency by Customer Interface magazine.

Elcon Electric.(won construction awards)(Brief Article)
October 5, 2001... Elcon Electric in Pompano Beach was awarded Excellence in Construction awards by Associated Builders & Contractors for the following projects: Plaza Del Mar in Manalapan, Andrx Park Corporate Research and Development Facility in Davie, and...

Slattery and Associates.(Brief Article)
October 5, 2001... Boca Raton-based Slattery and Associates received Community Appearance Board awards from the city of Boca Raton for the 2060 Professional Building and the Millennium Building.

Lori Nance Parrish.(Humanitarian of the Year)(Brief Article)
October 5, 2001... Broward County Commissioner Lori Nance Parrish was named the E.A.S.E. Foundation's Humanitarian of the Year.

George Blanck.(preserves Florida's lighthouses)(Brief Article)
October 5, 2001... George Blanck, executive director of the Florida History Center & Museum in Jupiter, was given an award for Special and Meritorious Service in the preservation of Florida's lighthouses by the Florida Lighthouse Association.

Miami Museum of Science.(Brief Article)
October 5, 2001... Miami Museum of Science won one of six National Awards by the Institute of Museum and Library Services.

The Interiors Group.(won new contracts for its services)(Brief Article)
October 5, 2001... The Interiors Group of Boca Raton was selected to provide interior design and interior architecture services for the following: Frenchman's Reserve in Palm Beach Gardens, Olympia in Wellington, and Grand Isles in Coral Springs.

del Rivero Messianu DDB.(Brief Article)
October 5, 2001... Coral Gables-based del Rivero Messianu DDB was appointed the Hispanic Agency of Record for off-price retailer Marshalls.

Turner Construction.(has two new contracts in Coral Gables)(Brief Article)
October 5, 2001... Turner Construction's Miami office was awarded contracts to build a 200 unit apartment building and parking garage by Trammell Crow and a condominium by Marc Kovens. Both are in Coral Gables.

Kaufman Lynn.(Brief Article)
October 5, 2001... Boca Raton-based general contractor Kaufman Lynn was selected to renovate and build additions to Pompano Lincoln Mercury and the Boca Raton Museum of Art.

WebStream Internet Solutions.(Brief Article)
October 5, 2001... WebStream Internet Solutions of Fort Lauderdale signed a three-year contract with The Broward Alliance to expand and host its Web site.

[0] Slattery and Associates.(New office buildings contract)(Brief Article)
October 5, 2001... Boca Raton-based Slattery and Associates has been retained to design two office buildings in Boca Raton and the campus of the Children's Home Society in West Palm Beach.

Mark Ulmer.(Brief Article)
October 5, 2001... Former Miami Shores mayor Mark Ulmer merged his law practice with the Coral Gables-based firm of Hicks & Schreiber to form Ulmer, Hicks & Schreiber. The firm is at 890 5. Dixie Highway in Coral Gables,

Adcon Telemetry.(wireless weather stations for Florida growers)(Brief Article)
October 5, 2001... Adcon Telemetry of Boca Raton has partnered with Agrilink International of California so that Agrilink may distribute Adcon's wireless weather stations to growers across Florida.

Knezevich & Associates.(acquired by the ThorntonTomasetti Group)(Brief Article)
October 5, 2001... Fort Lauderdale-based Knezevich & Associates has been acquired by the LZA Technology division of The ThorntonTomasetti Group of New York.

South Beach Coffee Company.(Brief Article)
October 5, 2001... Miami Beach-based South Beach Coffee Company will provide spent coffee grounds to Miami's St. Thomas University for use in the university's environmental projects.

MerckMedco.(allinace with Cybear)(Brief Article)
October 5, 2001... Cybear of Boca Raton and MerckMedco of New Jersey announced an alliance to provide physicians with real-time access to medication data at the point of care.

James M. Hartley Architects.(Brief Article)
October 5, 2001... James M. Hartley Architects of Hollywood merged with Fort Lauderdalebased Saltz-Michelson Architects.

PEOPLE ON THE MOVE.(New accounting firms' hires)
October 5, 2001... ACCOUNTING Kane, Hoffman & Danner in Miami named Christine S. Williams audit senior. Rampell & Rampell in Palm Beach promoted Elizabeth Musso Clemente to tax manager. Arthur Andersen appointed Cesar Clavero managing partner and...

HUMANS RESOURCED.(business human resources evaluating employees and new hires more closely after terrorist attacks)(Brief Article)
October 5, 2001... HR departments face terrorism fallout Human resource executives at businesses across the nation can expect to face a number of different challenges in the weeks and months ahead in the wake of the terrorist attacks in New York and Washing...

Score employee points with your 401(k) plan.(Mary Moriarty of Sony Music Entertainment Inc. talks about managing employee 401k plans)(Brief Article)
October 5, 2001... When it comes to shopping for a 401(k), don't think about the plan, at least not at first. Think first about the employees. After all, the whole point of offering a taxdeferred retirement savings plan is to score points with workers...

Outplacement firms can ease transitions.(Michael Giuffrida talks about how to find the right outplacement services)(Brief Article)
October 5, 2001... Business and pleasure don't always mix. Sometimes, companies have to lay off employees, and, for those occasions, they often contract with outplacement firms to help employees update skills and land new jobs. "If you have a desire to...

Performance management: The big picture.(how to administer and evaluate employee appraisals)(Brief Article)
October 5, 2001... Most articles on performance appraisals mention how difficult and distasteful they are to managers. This is puzzling. Essentially, a person is hired to perform some function critical to the operation and success of the organization (or the...

Employers face liability for allowing ethnic discrimination.(Brief Article)
October 5, 2001... In President Lincoln's second inaugural address, delivered in March 1865 as the Civil War drew to a close, Lincoln called upon the nation to strive on "with malice toward none, with charity for all." We are presently confronted with acts...

BAD AND GETTING WORSE.
October 5, 2001... Lack of headquarters hurts South Florida philanthropy Corporate philanthropy in South Florida doesn't measure up to other metropolitan areas. That's the consensus of corporate executives throughout the region charged with the responsibility...

Terrorism spurs corporate altruism among local companies.(various Florida companies donating to the September 11 relief efforts)(Brief Article)(Statistical Data Included)
October 5, 2001... While corporate giants like Cisco Systems, Microsoft, Bank of America and Wells Fargo Bank can afford to donate and write off millions, smaller, local businesses say they are mindful of the bottom line as they step up charitable efforts around...

Largest Charitable Foundations.(ranked by total revenue)(Directory)(Illustration)(Statistical Data Included)
October 5, 2001... Largest Charitable Foundations Ranked by 2000 total revenue Agency Phone Rank Address Fax 2001 E-mail ...

Check your pulse.
October 5, 2001... Health insurance in Florida can be trying for us all, but this is a true story. A South Florida family once had health insurance. The insurance was through the spouse's company, a corporation whose parent was located out of state. One...

A qood lead.(women-owned business)(Brief Article)
October 5, 2001... Want to know why we should specifically target women? Nationally, 9.1 million women-owned businesses generate $3.6 trillion in annual sales and employ 27.5 million people. South Florida is a hotbed for female entrepreneurs. In...

HEALTHY LAUGHTER.(Kevin Sepe's Funny Bagels Food Company Inc.)
October 5, 2001... Funny Bagels owner shows success is not child's play Long before Funny Bagels hit supermarket shelves five months ago Kevin Sepe was a single dad of four kids who needed to get up and out in the morning. "I would have to get them...

A healthy cost.(how to manage employee health benefits, for small businesses)(Brief Article)(Statistical Data Included)
October 5, 2001... If you are feeling pinched by double-digit increases for health insurance, you have plenty of company. A poll of Florida small-business owners by the National Federation of Independent Business found nearly 22 percent of small-business owners...

'Eat the whales' ads are ton of fun.(People for the Ethical Treatment of Animals ads)(Brief Article)
October 5, 2001... I used to think I had the best job in America. Here is a breakdown of my 40-hour "work" week: * 17.5 hours: Surf Internet for column topics, check eBay status * 10.5 hours: Answer e-mails * 11.25 hours: Lunch with beautiful women...

Adopt a serious approach in promoting your business.(how to positively advertise your business)(Brief Article)
October 5, 2001... What happened in America on Sep. 11 poses new, difficult and unprecedented challenges s to the way we are accustomed to doing business. Overall, business has taken a more serious tone, which is likely to continue. Not surprisingly,...

Post-attack tips for managers.(10 tips for coping with anger after terrorist attacks)(Brief Article)
October 5, 2001... Peggy Klaus, a corporate communications consultant, offers 10 tips for angers in the wake of the attacks: 1. Be human. Don't be afraid to admit to your fears while offering a sense of optimism and direction to your employees. 2. Stay...

NAIOP.(Florida commercial real estate market)(Brief Article)
October 5, 2001... In spite of the resent economic downturn, commercial real estate development in Florida continues to prosper. Businesses and industries recognize Florida as a great place to live, raise a family, and work. The members of the National...

In Orlando, mixed views on the immediate future.(Terrorist attacks' impact on commercial real estate market)(Brief Article)(Statistical Data Included)
October 5, 2001... How tough a market is it? It depends on who you ask. Prior to Sept. 11, most industry observers believed the commercial real a state industry would pull out of a slump by the second quarter of 2002. Now, the outlook is...

Miller on multifamily: 'Slowdown begins to show'.(Florida's apartment market)(Statistical Data Included)
October 5, 2001... Orlando is the "middle child" of Florida's apartment market: still trying to stand out, but still overshadowed by its Floridian siblings. "Relative to the rest of the state, our rents are higher than Tampa and Jacksonville, but lower than...

On the horizon: Cautious optimism in so-so market.(Real estate forecasts)(Brief Article)
October 5, 2001... Title: Vice president, real estate advisory services, Grubb & Ellis. Forecast: On the industrial market "There has been hardly any activity by newcomers to the market, and leasing also has had a quiet summer. It seems that only the...

Up close -- Crescent Resources, Primera Five.(New office building)(Brief Article)
October 5, 2001... Address: 225 Primera Blvd., Lake Mary, Fla. 32746 Owner/developer: Crescent Resources Leasing Co.: Crescent Resources Architect: Little & Associates Square feet: 188,453 Floors: Six Average rent per square foot: $20...

Buoyed by presales, project bucks trend, speeds up.(New resort planned by developer)(Brief Article)
October 5, 2001... At a time when project delays are the rule, Reunion Club & Resort is the exception: More than a year ahead of schedule, Ginn Development Co. closed on the last 1,400 acres slated for the massive resort, which will straddle Interstate 4 in...

AGC economist on the future: A 'murky' crystal ball.(Terrorist attacks' impact on construction industry)(Brief Article)
October 5, 2001... Ken Simonson began his new job as chief economist for the Associate General Contractors of America on Sept. 10. Twenty-four hours later, the ear-term economic future of the commercial construction industry was turned upside down. While...

In Jacksonville, big job gains steady the outlook.
October 5, 2001... JACKSONVILLE -- New commercial construction in North Florida has ensured an abundance of new office space--just as the attacks of Sept. 11 have ensured skittishness on the part of companies looking for such space. What impact this will...

On the horizon: A market moving sideways?(Commercial real estate market)
October 5, 2001... Victor Narusas Title: Vice president Colliers Dickinson Forecast: On the office market "The office market most likely will move sideways for the next 12 months. Consolidation and repositioning of business units will create the...

Joost: A few billion can buy some regional prosperity.(Municipal project construction)(Brief Article)
October 5, 2001... Hobart Joost, vice president of Colliers Dickinson in Jacksonville, remains bullish on that region's prospects -- especially since the passage of a $2.2 billion bond issue ensures plenty of cash for municipal project construction. He spoke with...

Hudmon: North Florida's near-term retail outlook.(Economic slowdown on retail leasing market)(Brief Article)(Statistical Data Included)
October 5, 2001... Stanton Hudmon is director of Trammell Crow Co.'s retail brokerages. The Business Journal: How has the slowdown in the national economy affected the buying/leasing habits of national tenants? How are national tenants proceeding with plans...

Jacksonville: The Big Deals.(Real estate transactions)(Brief Article)
October 5, 2001... * Sealy Cos. purchased eight office/warehouse buildings and 160 acres -- most of the Jacksonville International Tradeport -- from Duke Weeks Realty Corp. for $40.5 million. * Patillo Cos. struck three leases at Westside Industrial Park that...

Property management refocusing on safety rules.(World Trade Center attack)(Brief Article)
October 5, 2001... After watching 220 stories and nearly 10 million square feet at the World Trade Center come crashing to the ground, engineering experts said something even more unfathomable. It could have been worse. Office buildings are built to withstand...

Despite setbacks, office buildings rising out of ground.(South Florida's construction market)(Brief Article)
October 5, 2001... MIAMI -- Bulldozers keep rolling. Cement trucks keep pouring. Banks keep lending. If the national economy is sinking, it would be hard to tell from the flurry of office buildings rising out of South Florida's sandy soil. "Construction...

Creative capital: Tips for attracting investors now.(Financing market tightens up)(Brief Article)
October 5, 2001... When money was easier to raise, it was relatively simple to manage a fast-growing business by adopting a "damn the torpedoes, full-steam ahead" approach. In today's market, financing has become increasingly difficult as banks tighten...

SOUTH FLORIDA'S [*] LARGEST COMMERCIAL REAL ESTATE BROKERAGES.
October 5, 2001... SOUTH FLORIDA'S [*] LARGEST COMMERCIAL REAL ESTATE BROKERAGES Ranked by 2000 total square footage sold and/or leased Research by June Jones, Assisted by Felisha Dib Total sq. footage...

Byrd: Look for an upswing in landlord concessions.(Florida's real estate market )(Brief Article)
October 5, 2001... Already in the grips of an economic slowdown zapping corporate expansion plans, Florida's real estate market was delivered another blow by the Sept. 11 terror attacks in the Northeast. As the reality sets in that the nation's economic woes...

On the horizon: 'A lot of people on the sidelines'.(Real estate slowdown)(Brief Article)(Statistical Data Included)
October 5, 2001... Ed Mitchell Title: Managing director, CB Richard Ellis, Miami Forecast: On the office market "I think there are going to be some deals getting done, but there'll be a lot of people standing on the sidelines." Slowing demand,...

Florida Keys ruling could be a boon for developers.(landowners should compensate developers for length of ban)(Brief Article)
October 5, 2001... In a ruling that could have broad impact for property owners fighting for development rights, a Florid Keys circuit court judge has ruled landowners must be compensated for a eight-year development ban. Judge Luis Garcia of the 16th Circuit...

BROWARD OFFICE VACANCY RATE [*].(Brief Article)(Statistical Data Included)(Illustration)
October 5, 2001... BROWARD OFFICE VACANCY RATE [*] Q4/98 7.6 Q2/99 8.9 Q4/99 9.4 Q2/00 9.3 Q4/00 11.1 Q2/01 16.3 (*)All types of space Source: Grubb & Ellis Note: Table made from line graph