TAMPA -- The Florida Public Service Commission ordered Tampa Electric Co. to absorb more than $15 million the company had planned to pass on to its customers. The commission said the utility did not try hard enough to find a company that would charge lower prices to haul the utility's coal to its local generating plants.

TAMPA BAY -- A wave of apartment-to-condo conversions is sweeping southwest Florida. Most recently: Clearwater's Grand Venezia at Bay Watch, a 366-unit apartment community, and the 86-unit Grand Bellagio at Bay Watch. Other conversions: Homes at Culbreath Key Bayside, the Madison at SoHo, both in South Tampa; the Madison in downtown St. Petersburg; and Audubon Villas also in St. Petersburg.

The Florida Fish and Wildlife Commission has imposed new boating speed zones on many unregulated stretches of Tampa Bay to protect manatees. The new zones will help free up dock-building permits that had been on hold in Pinellas and Hillsborough counties.

OBITUARY -- Charles Rutenberg moved to Clearwater in 1955 and began a career in development, eventually building 10,000 homes in the Tampa Bay area. In 1969, he sold his two companies, Imperial Home Corp. and Rutenberg Construction Co., to U.S. Home Corp., becoming president of that company. Rutenberg was also chairman and CEO of Republic Bank and Life Savings and Loan Association. In 1993, he filed for bankruptcy and sold off some of his estate. He died in September at age 80. His brother, Arthur Rutenberg, is also a well-known Florida home builder. While port and trade officials are bullish, the long-term impact on the cruise industry remains less certain. Miami-based Carnival Corp. was forced to cancel three voyages and shorten the itineraries of six others.

Carnival COO Howard Frank says Hurricane Frances was the most disruptive storm in company history. He estimates the hurricane will shave 3 to 4 cents a share off fourth-quarter earnings. Royal Caribbean Cruises estimates the financial impact at 7 to 9 cents a share.

In the News

MIAMI -- The city has lost its distinction as the poorest large city in America. According to the U.S. Census Bureau's American Community Survey, Miami ranks fifth among all U.S. cities with over 250,000 people with 27.9% of its population living under the poverty level. The nation's four poorest large cities: Cleveland; Newark, N.J.; Detroit; and Fresno, Calif.

Gov. Jeb Bush has suspended City Commission Chairman Arthur E. Teele Jr. following Teele's arrest on charges that he threatened a police officer and tried to run him off the road.

MIAMI-DADE -- A federal judge has struck down as unconstitutional a county set-aside program designed to steer public contracts to women- and minority-owned professional service firms. Previous rulings in recent years helped to dismantle similar county programs for construction and procurement contracts intended to remedy allegations of discrimination within those industries.

Jackson Memorial Hospital, one of the county's largest employers, has announced that it may lay off as many as 500 employees, mostly in support and administrative services. Miami-Dade's public hospital has been struggling to contain costs in recent years.

MIAMI BEACH -- LNR Property Corp. (NYSE-LNR)) has agreed to be acquired by New York-based investment firm Cerberus Capital Management in a $3.8-billion deal that will take the company private. LNR Property Corp., a real estate investment, finance and management company, was spun off from home builder Lennar (NYSE-LEN) in 1997. Executives say the company will maintain its name and headquarters in Miami Beach. No layoffs are planned.

MIAMI LAKES -- David Friedson, chairman of small-appliance manufacturer Applica (NYSE-APN), announced he's resigning for personal reasons. Analysts had been expecting a change at the struggling company.