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MONDAY, JULY 14, 2008
ORLANDO:
Anheuser-Busch, Including Fla. Parks, Sold to Belgium Beer Giant
One of America's biggest cultural icons — the Anheuser-Busch Cos. of St. Louis, maker of Budweiser — agreed Sunday evening to be acquired for about $52-billion by Belgian brewer InBev NV.
The deal would create the world's largest beer maker and turn control of 10 Anheuser-Busch theme parks — including Busch Gardens and Adventure Island in Tampa and SeaWorld in Orlando — over to the Belgian-Brazilian conglomerate.
The fate of Anheuser-Busch's theme parks, including Tampa's Busch Gardens, is not clear. While analysts have predicted the entertainment unit will be sold off to help InBev pay for its hefty acquisition, it's hard to pinpoint a likely buyer.
Analysts say it is doubtful the Walt Disney Co. would be interested and, given the struggling economy, other theme-park businesses are not in expansion modes. The most likely buyer, analysts suggested, may be a private equity firm.
InBev so far has indicated its primary interest is in brewing beer, but it will look closely at the 10 theme parks — five of them are in Florida — whose value is pegged at between $2.2-billion and $2.9-billion, according to Lehman Brothers.
[Source: St. Petersburg Times]
PALM BEACH:
High-End Importers Struggle
Over the years, a growing number of American consumers have developed a taste for the good life, buying more imported clothes and foods from Europe as they've felt more wealthy.
That was certainly true during the housing boom years here, as local specialty, or luxe, retailers such as C'est Si Bon were joined by the likes of Tiffany's, Coco Chanel and Nordstrom.
But with the housing bust reducing that wealth factor, rising fuel prices increasing the cost of overseas transportation and a U.S. dollar that has fallen about 14% compared with the euro over the past year, many American shoppers are less willing to squeeze into the latest Manolo Blahnik shoes.
[Source: Post]
TAMPA:
A Case of Money, Deceit, Sex and Lawyers
It began with one lawyer — the old man of the firm, his hair gone white, but his name still well-known after years of TV commercials — accusing two proteges of stealing the heart of his practice. A personal injury lawyer, personally injured. It ended with the younger lawyers in a crowded courtroom, giving their side of the knotted story. By then they had formed a new firm, with ads of their own, touting themselves as "Aggressive Attorneys."
A little too aggressive, apparently. The jury recently found the two proteges had committed civil theft and hit them with a verdict that could cost them nearly $2-million. Read on ...
[Source: St. Petersburg Times]
More on this topic from Florida Trend:
STATEWIDE:
State Farm: No New Policies, Agents
State Farm Florida has stopped hiring agents because of the company's decision in February not to write new homeowners policies in the state.
The state's largest private insurer of homes also decided at that time to stop writing new renters and commercial policies. State Farm took these steps because it wanted to reduce its exposure to hurricane risk.
The company is continuing to renew the one million homeowners and renters policies it has in Florida.
''Agents are very anxious right now. It's a tough environment,'' said Chris Neal, a spokesman for the insurance company.
Neal explained that State Farm has funds to pay claims if one or a series of storms were to hit Florida this year and rack up millions of dollars of losses.
''But the question is, could we stay in business next year?'' said Neal.
After the four hurricanes of 2004, State Farm's parent company added $750 million to the Florida-based unit to recapitalize it. Its reserves were wiped out by the 2004 storms.
[Source: Miami Herald]
More on this topic from Florida Trend:
ALSO AROUND FLORIDA:
›Voter Registrations Show 'Huge Swing' Toward Democrats [Sun-Sentinel]
Democrats have posted greater gains statewide, up 106,508 voters from January through May, compared with 16,686 for the Republicans.
›Time Magazine Revisits Florida's Problems [Time Magazine]
Paradise has gone missing again.
Nearly three decades after the magazine's "Paradise Lost?" cover story on South Florida's ills gave the peninsula an inferiority complex, Time is once again warning of impending disaster in the state.
Back then it was refugees, riots and crime. Now? Well, you know.
›Learn How to Hunt Gators [TC Palm]
The Florida Fish and Wildlife Conservation Commission is offering alligator hunters a free three-hour class, in preparation for the Aug. 15 to Nov. 1 statewide alligator harvest.
›Doctor on Call for Disasters [Tampa Tribune]
USF nursing instructor and physician Steve Morris travels to disaster areas to practice medicine, from Thailand to New Orleans.
›As Lou Pearlman Ran, Investigators Built Their Case [St. Petersburg Times]
The investigators hadn't even had a chance to start looking for the globe-trotting Pearlman when a tip from a curious tourist led to his capture in Bali, where he was hiding out under the alias "A. Incognito Johnson." Graphic: His 2007 odyssey
›Tribe: Keep Up Work on Glades [Miami Herald]
In a federal court filing, the Miccosukee Tribe argued that a state plan to buy U.S. Sugar's land south of Lake Okeechobee could push Everglades restoration work back for years.
›Democrats Toss Barbs at Crist's European Trade Trip [St. Petersburg Times]
Gov. Crist has said it is vital to promote business in Florida in tough times. Enterprise Florida said his trip to Brazil last fall generated more than $300-million in "actual and anticipated" sales, including a 200-job expansion plan by the Brazilian aircraft maker Embraer.
›Sugar Deal Might Mire Other Efforts at Restoration [Palm Beach Post]
Those sacrifices could include scaling back a planned 3,400-acre reservoir near Indiantown that's meant to protect the St. Lucie River from runoff. Water managers also might have to postpone or shrink other reservoir and cleanup projects around Lake Okeechobee - projects they once called essential for the Everglades' future.
Also: Sugar industry likely to remain potent political force
›New Orlando Magic Arena Has Something for Everyone [Sentinel]
Magic representatives shared with the Orlando Sentinel glitzy interior details of the Orlando Events Center, which breaks ground July 25 and will play a key role in the city's bid to host the 2012 NBA All-Star Game. Here's the scoop.
›Meet Carole Rome, the Governor's Fiancee [St. Petersburg Times]
“I knew she was the one,” Gov. Charlie Crist says of Carole Rome.
›Transit Dreams to Cost Billions [Palm Beach Post]
South Florida transportation officials are planning an expanded transit system that may cost an estimated $8.9 billion to $10.9 billion during the next quarter century.
Among the projects in a long-range plan are passenger trains on the Florida East Coast Railway, which would connect downtowns from Jupiter to Miami, and rapid buses between western suburbs and business centers along the coast.
›Could Martin County Be the Next Biotech Cluster? [TC Palm]
Martin County can't afford to miss out on the high-paying biotechnology jobs springing up in Palm Beach and St. Lucie counties, according to officials and business leaders.
That's why Martin County and its communities could be part of a new push for a piece of the biomedical industry.
›CFO Alex Sink's Profile Looms Larger [St. Petersburg Times]
Eighteen months ago, as Florida's newly elected Democratic chief financial officer, Alex Sink was clear: Her political ambition didn't include the 2010 governor's race.
But that's not so clear anymore.
›Florida Among States Scrutinizing Office Depot's Pricing [Sun-Sentinel]
California began an audit. North Carolina and Nebraska decided to rebid. Georgia terminated its contract. And Florida has launched an investigation.
All have sought answers to the question: Did Delray Beach-based Office Depot overcharge governments on office supplies?
›Real Estate Office Goes Paperless. No, Really [Sarasota Herald-Tribune]
With wireless capabilities and digital storage, the goal of the new Coldwell Banker branch, in Lakewood Ranch, is to work toward an entirely paperless, all-electronic system. And, there are no desks.
›Crist Energy Adviser Doesn't Pass Test, Commissioner Says [St. Petersburg Times]
One of Gov. Charlie Crist's handpicked utility regulators is questioning why the governor is getting energy advice from a lawyer whose utility clients could be affected by Crist's policies.
›Mortgage, Credit Crisis Results in Thousands of Job Losses Statewide [Sent.] Florida's financial sector had 6,100 fewer jobs in May than it did a year earlier, a 1.12 percent decline, according to the latest data from Florida's Agency for Workforce Innovation.
›Lights, Cameras, Ticket! [Daytona Beach News-Journal]
Palm Coast city officials report fewer accidents at intersection with cameras.
›Florida Citrus Production Up 32% [St. Petersburg Times]
It was a rebound year for Florida citrus, with the 2007-2008 orange crop finishing at 169.7-million boxes, up 32% from a year ago.
›Insurance Agents Say Citizens Pays Them Too Little [Miami Herald]
Many agents say the workload isn't commensurate with the commission rate Citizens pays. In South Florida, agents earn an effective rate that is as much as 50% less than what they would receive from private carriers.
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