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Southeast Business Briefs - Dec. 2004
Naples-based Bancshares of Florida (Nasdaq-BOFL) has opened a 9,000-sq.-ft. Bank of Florida branch on south Federal Highway.
The Boca Resorts, a chain of upscale hotels and resorts founded and controlled by Fort Lauderdale billionaire H. Wayne Huizenga, will be acquired by the Blackstone Group in a $1.25-billion deal.
BROWARD COUNTY -- The Broward Alliance, a non-profit economic development agency, says membership dues are declining even as the number of members grows. President and CEO James Tarlton blames $150,000 of the gap between projected membership income and actual collections on a change in the way cities are assessed for membership.
DELRAY BEACH -- Office-supply retailer Office Depot (NYSE-ODP) plans to cut 900 jobs from call centers in California, Connecticut, Georgia, Kansas, Ohio and Texas. The company estimates the move will save it $15 million a year. The company's CEO, Bruce Nelson, recently resigned.
FORT LAUDERDALE -- St. Thomas Aquinas High School has been designated one of the country's top 50 Catholic high schools based on a ranking compiled by the National Catholic High School Honor Roll.
HOLLYWOOD -- City commissioners have given tentative approval to Coral Gables-based Cornerstone Premiere Communities for a townhouse, condominium and retail project downtown.
MARTIN COUNTY -- A county commissioner's proposal for a short-term building moratorium so that contractors could focus strictly on hurricane reconstruction failed to sway the Martin County Commission, which expressed fears that such a move would hurt small businesses.
Some cattle ranchers are already anticipating a smaller stock of cattle when the market opens in July because of soggy grazing grounds and hurricane stresses.
PALM BEACH COUNTY -- A lawsuit alleges that up to 300 county employees who were fired following closed conferences and grievance sessions are entitled to reinstatement and back pay because the proceedings did not comply with the state's Sunshine Law.
County commissioners are threatening to sue the city of Wellington for alleged violation of a water and sewer service agreement that prohibits the village from extending its pipelines beyond a county boundary.
PLANTATION -- Four hurricanes proved to be too much for American Superior Insurance, which was taken over by the Florida Department of Insurance Regulation after executives notified the state that their exposure for claims was likely to exceed reserves.
RIVIERA BEACH -- A committee composed mostly of local residents has begun investigating the finances of the city's community redevelopment agency following audit disclosures that the agency was deeply in debt and lacking financial controls.
ST. LUCIE COUNTY -- School facilities director Marty Sanders says schools built during the 1990s came through two hurricanes with substantially less damage than schools built during the 1960s, '70s and '80s. In addition, some elementary schools built to identical specifications during those earlier periods sustained nearly identical damage from the storms, including roof fasteners that failed.
WEST PALM BEACH -- City commissioners have approved plans for a 26-story, 556-unit condominium development downtown. The project, which includes space for a $9-million community theater, would be the tallest building downtown.
