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Southwest Florida Business Briefs - Nov. 2004
Carnival COO Howard Frank says Hurricane Frances was the most disruptive storm in company history. He estimates the hurricane will shave 3 to 4 cents a share off fourth-quarter earnings. Royal Caribbean Cruises estimates the financial impact at 7 to 9 cents a share.
In the News
MIAMI -- The city has lost its distinction as the poorest large city in America. According to the U.S. Census Bureau's American Community Survey, Miami ranks fifth among all U.S. cities with over 250,000 people with 27.9% of its population living under the poverty level. The nation's four poorest large cities: Cleveland; Newark, N.J.; Detroit; and Fresno, Calif.
Gov. Jeb Bush has suspended City Commission Chairman Arthur E. Teele Jr. following Teele's arrest on charges that he threatened a police officer and tried to run him off the road.
MIAMI-DADE -- A federal judge has struck down as unconstitutional a county set-aside program designed to steer public contracts to women- and minority-owned professional service firms. Previous rulings in recent years helped to dismantle similar county programs for construction and procurement contracts intended to remedy allegations of discrimination within those industries.
Jackson Memorial Hospital, one of the county's largest employers, has announced that it may lay off as many as 500 employees, mostly in support and administrative services. Miami-Dade's public hospital has been struggling to contain costs in recent years.
MIAMI BEACH -- LNR Property Corp. (NYSE-LNR)) has agreed to be acquired by New York-based investment firm Cerberus Capital Management in a $3.8-billion deal that will take the company private. LNR Property Corp., a real estate investment, finance and management company, was spun off from home builder Lennar (NYSE-LEN) in 1997. Executives say the company will maintain its name and headquarters in Miami Beach. No layoffs are planned.
MIAMI LAKES -- David Friedson, chairman of small-appliance manufacturer Applica (NYSE-APN), announced he's resigning for personal reasons. Analysts had been expecting a change at the struggling company.
Business Beat - Week of May 3rd
