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Miami-Dade Business Briefs - Aug. 2007
Coral Gables —
» Real estate developer and entrepreneur
R. Donahue Peebles has purchased 13 acres in Las
Vegas for $65 million. He plans
to develop a non-gaming,
five-star hotel near the famed strip.
» VinPlus, an information technology company based in Coral Gables, has been acquired by Netlink Software Group, an automotive IT provider.
Key West —
» The Monroe County School District has hired Nashville-based Ombudsman Educational Services, a provider of alternative education services, to work with problem and special needs students.
» Hotel room rates in the Florida Keys are the fifth-highest — after Paris, London, Dubai and New York — among the top 15 global destinations, according to a report by Smith Travel Research.
Liberty City —
» Plans for a
major biotechnology industry park in the downtrodden
section of Liberty City have been shelved after a range of problems. In a special report, the Miami Herald said that developer Dennis Stackhouse received millions of dollars in public money slated for the poor but failed to deliver a single building. Stackhouse, who reportedly double and triple billed the county in some instances, also hired political insiders, including former Congresswoman Carrie Meek, to generate support
for the project, the Herald reported.
Marathon —
» City Council has requested that Miami-based Peebles Corp., new owner of the Key Colony Bay Hotel, provide the city with $800,000 for affordable housing within a year as a condition for beginning redevelopment of the trophy property, according to a published
report.
Miami —
» Burger King shares (NYSE-
BKC) have doubled in a year, helped
by trendy advertisements, an updated,
high-profit menu and later closing
hours.
» Black Enterprise magazine has ranked Miami-based Ryder System one of the 40 “Best Companies for Diversity.”
» Intercredit Bank has signed an agreement with the Office of the Comptroller of the Currency, a national bank regulator, that tightens the bank’s lending policies and reduces risk in its loan portfolio.
» Miami Dade College has opened the Green Urban Living Center at its North Campus. The new environmental facility is designed to provide hands-on educational opportunities for the general public, including elementary, high school and college students.
» Thayer Lodging Group has purchased three Marriott-branded hotels located at Miami International Airport from Marriott International for $57.5 million. The new owner plans a $65-million facelift before reopening the hotels in 2009.
» Noven Pharmaceuticals has received $5.9 million from Shire PLC to develop a skin patch for treatment of attention deficit hyperactivity disorder. Since 2003, Noven has worked with Shire to create and commercialize patches for ADHD.
» A group of nine condominium buyers has filed a class-action suit against the developer of the 2 Midtown condominium project in Miami. The group claims that the development team missed its deadline to complete the project.
Miami Beach —
» Clinton Hotel & Spa has been sold for $19 million to East Coast Realty Ventures.
North Miami Beach —
»
A U.S. District judge has sentenced Evans Eric Baros Jr., owner of MasterVend Marketing, and employees Samuel Elmowitz and Dana Kerri Elmowitz Pearl to either prison or probation for wire conspiracy fraud charges. The defendants pleaded guilty to defrauding victims of $300,000 stemming from false statements about the financial health of the vending company.
Business Beat - Week of May 3rd
