Florida Trend | Florida's Business Authority

Southeast Fla. Business Briefs - Sept. 2008

BOCA RATON

The Geo Group, a correctional facilities operator, will manage the Joe Corley Detention Facility in Texas.

» Tool and flooring manufacturer Q.E.P. Co. plans to buy back up to $2 million of its common stock.

» Timeshare company Bluegreen Corp. will be acquired by Las Vegas-based Diamond Resorts for about $500 million.

» DayJet, the on-demand air carrier, added 14 destinations, including Orlando and St. Petersburg.

DANIA BEACH

Florida Atlantic University will keep its SeaTech program here, rejecting a proposal to combine it with the Harbor Branch Oceanographic Institute in Fort Pierce.

FORT LAUDERDALE

American Airlines cut 79 jobs and six of its 16 flights from Fort Lauderdale/Hollywood International Airport, citing high fuel costs. Separately, United Airlines and Midwest Airlines are ending service to the Fort Lauderdale airport for similar reasons.

» AutoNation is cutting 1,300 jobs and $100 million in light of higher fuel prices and ongoing economic difficulties. The company’s second-quarter profit fell 33%. Meanwhile, Bill Gates’ Cascade Investment fund has purchased 10 million shares of AutoNation, giving it a 5.5% stake in the auto retailer.

» The St. Regis beachfront hotel will become a Ritz-Carlton, the 10th in Florida.

» SPS Technologies Corp. settled a $10-billion trade secret case against Motorola.

JUNO BEACH

FPL (NYSE-FPL) has received the go-ahead from the Florida Public Service Commission to build three solar power plants in De Soto, Martin and Brevard counties.

NORTH PALM BEACH

Bankrate (Nasdaq-RATE) plans to repurchase up to $50 million of its stock.

PALM BEACH

Attorney Robert Montgomery died Aug. 3 at 78 of complications related to cancer. Montgomery won a $11.3-billion suit as Florida’s lead attorney against the tobacco industry. He took on many high-profile cases, representing Kimberly Bergalis, who contracted AIDS from her dentist, the third wife of Henry Ford II, Kathleen DuRoss Ford, and Burt Reynolds in his divorce from Loni Anderson. Florida Trend named Montgomery one of Florida’s “Most Feared Lawyers” in 1999.

PALM BEACH COUNTY

The Health Care District has approved Vita Health, a shared-cost plan to provide universal health coverage for residents who earn less than 300% of the federal poverty level. Applicants must live in Palm Beach County and have been without health coverage for at least six months. Individuals earning less than $17,150 or a family of four earning less than $35,000 are eligible.

PLANTATION

Goodwin Biotechnology, a manufacturer of biotechnology drugs, aims to develop a radiopharaceutical product to treat cancer.

SUNRISE

Pediatrix Medical Group is acquiring Maternal Fetal Diagnostic Center of Atlanta, a physician group that provides services to women with complicated pregnancies.

» Norwegian Cruise Line is opening a 25,000-sq.-ft. sales office here, with the Miami-based company slated to create as many as 140 jobs.

WELLINGTON

B/E Aerospace won a $200-million contract from Embraer to supply interiors for the Brazilian company’s executive jets.

WEST PALM BEACH

Humana has agreed to purchase MetCare Health Plans, a wholly owned subsidiary of Metropolitan Health Networks, for about $14 million.

» Rock Legal Services has expanded its offices and plans to add three or four positions to its staff of 10.