Southeast Fla. Business Briefs - Nov. 2009
BOCA RATON — Commercial real estate company Woolbright Development plans to lay off 25 of its 95 employees in Boca and Orlando because of the commercial real estate downturn.
» 1st United Bancorp (Nasdaq-FUBC) netted $65.4 million in a stock offering to strengthen its capital position and fund growth.
BROWARD COUNTY — Gov. Charlie Crist suspended Broward County Commissioner Josephus Eggelletion and school board member Beverly Gallagher who, along with former Miramar City Commissioner Fitzroy Salesman, were arrested in September in a federal corruption probe.
DEERFIELD BEACH — Konover South, an affiliate of West Hartford, Conn.-based Simon Konover Cos., bought a stake in Tampa-based apartment community acquirer and manager Blue Rock Partners. Blue Rock acquired 390-unit Park at Dorchester and the 228-unit Park at Knightsbridge, both in Brandon.
FORT LAUDERDALE — BankAtlantic Bancorp (NYSE-BBX) says major stakeholder BFC Financial (OTC-BFCF.PK) will invest $30 million. BFC owns 30% of BankAtlantic’s common stock.
» Ed Morse Automotive Group reopened its Ed Morse Bayview Cadillac dealership following a $10-million renovation.
» Bank of America will lay off 50 at its Fort Lauderdale credit-card claims processing site.
FORT PIERCE — The National Institutes of Health awarded Florida Atlantic University researcher Amy E. Wright at Harbor Branch Oceanographic Institute a $150,000 federal stimulus grant to study marine organism compounds that could be used to treat pancreatic cancer.
MIRAMAR — The U.S. Department of Transportation fined Miramar-based Spirit Airlines $375,000 for violating consumer protection rules on advertising, baggage liability and bumping passengers without compensating them, a record for the type of fine.
PLANTATION — Memorabilia company Dreams (Amex-DRJ) entered a licensing relationship with the National Baseball Hall of Fame & Museum to provide online merchandise and components for its catalog business and store.
POMPANO BEACH — Packaging company Rexam plans to close its personal care plant, laying off 65.
SUNRISE — Physician services company Mednax (NYSE-MD) acquired Children’s Health Network, a group practice that provides in-patient pediatric physician care at 11 hospitals in California, Nevada, Montana and Louisiana. It was Mednax’s ninth acquisition this year. Terms were not disclosed.
VERO BEACH — Indian River County awarded SpectorSoft, a developer
of computer and internet monitoring and surveillance software, a $208,000 local jobs grant. The company plans to boost its 78-employee workforce by 34.
WEST PALM BEACH — Florida Public Utilities (Amex-FPU) urged shareholders to support the board’s plan to merge with Dover, Del.-based Chesapeake Utilities in a $73-million deal and to reject arguments put forth by Energy Inc., which opposes the merger.
» Using a grant from the John D. and Catherine T. MacArthur Foundation, the Community Foundation for Palm Beach and Martin Counties made a $4-million low-interest loan to the non-profit Florida Community Loan Fund to provide more affordable rental housing in the two counties.