Southeast Fla. Business Briefs - January 2011
BOYNTON BEACH —
» Software provider Modernizing Medicine will create at least nine jobs — and possibly more than 18 — with the opening of its headquarters.
FORT LAUDERDALE —
» A federal jury sided with plaintiff shareholders, finding holding company BankAtlantic Bancorp issued statements that misled investors about its real estate loan risk. Jurors awarded shareholders $2.41 per share in the class-action suit. BankAtlantic plans to appeal.
» Port Everglades welcomed Royal Caribbean Cruises’ 5,400-passenger Allure of the Seas, which ties with its sister ship, the Oasis of the Seas, as the largest cruise ship in the world, to its homeport.
» Guarantee Insurance tripled the size of its downtown presence, signing a five-year lease for 21,000 square feet at Las Olas City Centre, bringing in more than 50 new employees.
» Airline company Gulfstream International Group filed for Chapter 11 protection. The company plans to continue flying its full schedule of flights.
» The Lawrence J. and Florence A. De George Charitable Trust donated $10 million to fund children’s and women’s services at Jupiter Medical Center. The center launches a capital campaign this month that includes plans to build a three-story Florence A. De George Pavilion.
PALM BEACH GARDENS —
» Specialty contractor Dycom Industries acquired most of the assets of Communication Services, a Marshville, N.C., telecom construction services company, for $9.7 million.
PALM CITY —
» Aviation inventory service company STS Component Solutions will add 16 jobs, bringing its total Palm City employment to 25.
» Mortgage processor DJSP Enterprises President and CEO David J. Stern resigned and was replaced by Stephen J. Bernstein, who had been interim chairman but now has that position full time. Stern, who also resigned as a director, wanted to focus on his foreclosure law firm, the company says. Stern’s law firm is among those being investigated by the Florida Attorney General’s office for alleged unfair and deceptive trade.
RIVIERA BEACH —
» Brazil-based Florida Flavors and Concentrates will open a plant and employ 16, mixing colas and other drinks for shipment to Brazil and other markets.
VERO BEACH —
» Real estate investment trust Armour Residential grossed $33.35 million in a public offering. The company invests in mortgages and mortgage-backed securities.
WEST PALM BEACH —
» Bay Harbor-based Drea Group paid $11.15 million at a bankruptcy auction for 179 units at the 300-unit San Michele condo community.