Monday's Afternoon Update

What you need to know about Florida today

| 8/8/2016

Jacksonville's Everbank to merge with financial services provider TIAA

TIAA has reached a deal to buy EverBank Financial Corp. for $2.5 billion in cash, an agreement that comes about two weeks after the Florida-based lender said it was in talks to be acquired. EverBank, headquartered in Jacksonville, employs 2,963 workers of which 1,624 work in the city. TIAA is the leading retirement provider for people who work in the academic, research, medical and cultural fields. Banking services for the combined company will be based in Jacksonville. See the full statement from Everbank, here. Also read more at the Florida Times-Union and the Wall Street Journal.

USF St. Petersburg students help entrepreneur boost business

University of South Florida St. Petersburg marketing professor Philip J. Trocchia and his students have been taking on real-life marketing challenges at no cost for local businesses. More from the Tampa Bay Times.

Local online retailers turning back to brick-and-mortar in Central Florida

A number of entrepreneurs are opening stores in Orlando after cutting their retail teeth online. The examples include bakeries, food delivery services and paper makers. More from the Orlando Sentinel.

New name, same mission for Feeding Florida

The Florida Association of Food Banks is now Feeding Florida. Feeding Florida’s statewide network of food banks provides food to the 3.3 million Floridians facing hunger, including 1.1 million children and 700,000 children. More from the Tallahassee Democrat.

Small Business Advice
Before starting a business (and losing your shirt), do this homework

So many people want to open their own businesses. I think that is wonderful since so many of the big businesses in today’s economy are not serving their customers well. If you are looking at starting a new business, the opportunities are abundant, but like any endeavor, doing so requires a lot of time and planning. More from Jerry Osteryoung.

Business Basics
Get organized

Now that your business plan, if not finished, is at least underway, you can begin the process of actually building your business: deciding how it will be structured, giving it a name, selecting a location and securing any necessary permits and licenses. Are you ready? Then let’s get started.

» More from Florida Small Business.

Research
The hidden cost of helping your co-workers

If you’re an employee who takes pride in helping others at work, you likely feel good after assisting a colleague. But are those good feelings coming at a price? New research from University of Florida management professor Klodiana Lanaj explores the cost of helping co-workers, notably how the helper’s own productivity can suffer.