Miami-Dade Business Briefs - July 2010
Round-up of business news
CORAL GABLES — BankUnited Financial Corp., the former owner of BankUnited, is suing the Federal Deposit Insurance Corp. for $400 million, alleging the FDIC’s $4.9-billion claim in BankUnited Financial’s bankruptcy lawsuit should be thrown out.
» The University of Miami received a $2-million grant from the Blackstone Charitable Foundation to set up Launch Pad programs — which assist aspiring entrepreneurs — at the campuses of Wayne State University and Walsh College in Detroit.
» Gibraltar Private Bank & Trust raised $37 million in private capital.
EVERGLADES — A federal judge ruled that the Environmental Protection Agency has failed to enforce the Clean Water Act in the Everglades and threatened to hold the agency in contempt.
MIAMI — Investment banking, equity research and brokerage firm Ladenburg Thalmann Financial Services (AMEX-LTS) is buying Las Vegas-based Premier Trust from Western Alliance Bancorp.
» Developer Mark Siffin unveiled plans to build a parking garage with two 20-story electronic billboards on land next to the Adrienne Arsht Center for the Performing Arts. Siffin, who holds the ultimate contract to buy and develop land owned by Miami Herald parent company McClatchy Co., also revealed that he is paying $230 million for the land for the garage and a retail center. The sale has been in the works since 20
» Ivax Diagnostics (AMEX-IVD) signed a two-year deal to distribute California-based Biometrician’s medical test kits products globally.
» Kabel-X USA, a technology company that converts telephone and cable television wiring to fiber optic cabling without digging up the cables, has completed its first two large-scale conversion projects, in Ohio and Hawaii. Kabel-X is affiliated with real estate company Adler Group.
MIAMI BEACH — The city predicts a $37-million budget shortfall this year and is proposing the fourth straight year of budget cuts.
MIAMI-DADE COUNTY — The county approved and state agreed to give $1.1 million in incentives to Discovery Latin America, a subsidiary of TV producer Discovery Communications. Discovery Latin America, based in Miami-Dade, will add 40 jobs, invest $42 million and lease an additional, 100,000-sq.-ft. facility.
» Miami-based Cargo carrier Arrow Air is contemplating ceasing operations at its Miami International Airport headquarters. Miami-based Centurion Air Cargo is reportedly in the process of bidding for Arr
» In August, county residents will vote on raising county commissioners’ pay from $5,000 annually to $92,097. It is the 11th time such a referendum has been presented to voters; commissioners have not had a pay increase since 1957.
» Kendall Regional Medical Center applied to the state to establish a regional trauma center; Jackson Health System and the University of Miami, whose jointly run Ryder Trauma Center is the county’s only trauma center, are opposing the request.
MIAMI LAKES — Great Florida Bank has been delisted from the Nasdaq Global Market and now trades over the counter. It is under a consent order to raise its capital ratios.
The proposed indoor ski slope would be similar to this one in Dubai.
NORTH MIAMI — Solar Mountain Management Group has proposed a $300-million indoor ski slope, powered largely by renewable energy, for the 193-acre site that was supposed to house the Biscayne Landing mixed-use residential project.