archived May 4, 2008
FPL sees more gas in its future
JUNO BEACH — More natural gas; less coal, oil and nuclear.
Florida Power & Light is expecting demand for power to increase 25 percent over the next decade, and is planning to meet the surge by relying more on natural gas-fired plant and less on other fuels at least on a percentage basis, according to the 10-year plan filed Tuesday with the Public Service Commission today. READ MORE.
Worker confidence drops again
FORT LAUDERDALE — The Florida Employee Confidence Index decreased 0.9 point to 46.2 in February, according to the latest Spherion Employment Report. READ MORE.
Jobless rates hold steady in Fla.; number of jobs declines again
TALLAHASSE — The good news: Florida's unemployment rate held steady in February.
The bad news: For the second month in a row, the state’s economy lost jobs, according to a report released Friday by Florida Agency for Workforce Innovation. READ MORE.
Survey: Fixed-rate mortgages dip while ARMs move upward
NORTH PALM BEACH — Fixed mortgage rates inched lower over the past week, with the average conforming 30-year fixed mortgage rate now 5.95 percent, according to Bankrate.com's weekly national survey of large lenders. READ MORE.
Gasoline drops, diesel climbs
WASHINGTON — Gasoline prices have fallen for the first time in more than a month.
The U.S. Energy Information Administration has reported that the average cost of a gallon of gasoline — all grades — has dropped to $3.31 from $3.332 a week ago. A month ago, the average price was $3.18. READ MORE.
UF report finds confidence among Floridians hitting low
DELRAY BEACH — George H.W. Bush was president. American troops had just fought a war with Iraq. And the economy was a mess.
The University of Florida consumer confidence index for March fell five points to 68 — the lowest point in since December 1992, according to a report released Tuesday. Expectations for the economy over the next year fell even more sharply. READ MORE.
archived april 27, 2008
211 receives support at fundraiser
WEST PALM BEACH — 211 Palm Beach/ Treasure Coast held its fourth annual spring benefit March 14 at the National Croquet Center in West Palm Beach.
There was no shortage of comunity support for the organization, which serves as an information clearinghouse and crisis service that anyone with a telephone can access. PHOTOS AND STORY HERE.
Florida's homes continue slump
DELRAY BEACH — To no one’s surprise, Florida’s housing market continued to sink in February, according to the latest numbers from the Florida Association of Realtors. READ MORE.
Your publicity program
By TINA L. PUGLIESE, APR, Pugliese Public Relations
One of the most common and effective public relations disciplines is publicity. That is, getting your name in print. Every enterprise — whether a one-person start up or publicly traded corporation — should implement a basic publicity program. READ MORE.
Mortgage rates fall sharply
NORTH PALM BEACH — Fixed mortgage rates fell sharply in the past week, with the average conforming 30-year fixed mortgage rate now 5.98 percent, according to Bankrate.com's weekly national survey of large lenders. READ MORE.
OIR files "Right to Travel" complaint against life insurer
TALLAHASSEE — The Florida Office of Insurance Regulation is seeking to revoke or suspend the business license of American General Life Insurance for allegedly violating the state’s right to travel law. READ MORE.
Carnival Corp. revenue rises but fuel costs take down profit
MIAMI — Carnival Corp. reported Thursday that first quarter revenue increased while profit declined in large measure because of rising fuel costs. READ MORE.
archived april 21, 2008
Titles Aren’t Everything
By NANCY PROFFITT, Certified Business Coach, Proffitt Management Solutions
Ken Blanchard, famed author of The One Minute Manager felt he couldn’t write well, had a fear of tests and took his college boards 4 times. In overcoming those obstacles he became a college professor and was ranked as one of the top teachers on the college campus. READ MORE.
Dissidents challenge Office Depot
DELRAY BEACH — A dissident shareholders group led by BankAtlantic Bancorp CEO Alan Levan is seeking to oust Office Depot CEO Steve Odland and founder David Fuente from the company’s board of directors, saying the slumping company needs to move in a new direction. READ MORE.
FPL gets PSC OK to expand nuclear capacity at Turkey Point
JUNO BEACH — Florida Power & Light Tuesday won round one in its effort to build two new nuclear power generators at its Turkey Point power plant in Miami-Dade County. READ MORE.
Diesel breaks $4 a gallon; gasoline continues to surge
By DAVID SEDORE, Palm Beach Business.com
DELRAY BEACH — Diesel has broken the $4-a-gallon mark in Palm Beach County as soaring energy prices continue to make consumers sore. READ MORE.
Chamber gathers at Black Tip
More than 100 members of the Delray Chamber of Commerce and guests met for business and pleasure at the Black Tip Reef in Pineapple Grove. CLICK FOR PHOTOS.
Bankrate survey finds mortgage rates rising modestly
NORTH PALM BEACH — Fixed mortgage rates posted a modest increase in the past week, with the average conforming 30-year fixed mortgage rate now 6.39 percent, according to Bankrate.com's weekly national survey of large lenders. READ MORE.
Noven delays earnings release over SEC accounting concerns
MIAMI — Noven Pharmaceuticals Inc. said Thursday that it is delaying the release of its fourth quarter and year-end financial results because of accounting questions raised by the Securities and Exchange Commission. READ MORE.
Deal to take Ocwen private is off
WEST PALM BEACH — Ocwen Financial Corp. won’t be going private. At least not under the deal that CEO William Erbey proposed in January. READ MORE.
State OKs plan to shift 400,000 homeowners out of Citizens
TALLAHASSEE — Florida Insurance Commissioner Kevin McCarty Wednesday signed an order approving Citizens Property Insurance Corp.'s plans to turn over 400,000 homeowners insurance policies to private companies during 2008. READ MORE.
Open your wallet: gas could hit $4
DELRAY BEACH — Gasoline at $4 a gallon? Could happen, according the to Energy Information Administration’s latest energy outlook. READ MORE.
archived april 13, 2008
How Public Relations Can Help Your Business Grow
By TINA L. PUGLIESE, APR, Pugliese Public Relations
If you think public relations is only for big companies, think again. Public relations is a tool that any company should use to grow and differentiate itself from its competitors. Public relations typically refers to specific communications strategies designed to achieve business goals. READ MORE.
Broward man pleads guilty in mortgage fraud case
MIAMI — The leader of a Broward County mortgage fraud ring has pleaded guilty to conspiracy to commit bank fraud, wire fraud and mail fraud, in federal district court. READ MORE.
Worker confidence falls again
FORT LAUDERDALE — The Florida Employee Confidence Index reached a new low in January, decreasing 1.4 points to 47.1, according to the latest Spherion Employment Report. READ MORE.
Fla. employers shed jobs in Jan.
TALLAHASSEE — Florida employers pared payrolls by 7,300 jobs in January, the first time the state has lost jobs in more than five years.
Florida’s Agency for Workforce Innovation, citing fallout from the slumping construction market, reported Friday that statewide unemployment increased to 4.6 percent, seasonally adjusted, from 4.5 percent in December. A year earlier the rate stood at 3.9 percent. READ MORE.
Mortgage rates dip after wild week
NORTH PALM BEACH — Fixed mortgage rates posted a slight decrease in a wild up-and-down week, with the average conforming 30- year fixed mortgage rate now 6.32 percent, according to Bankrate.com's weekly national survey of large lenders. READ MORE.
The impact of micromanaging
By NANCY PROFFITT, Certified Business Coach Proffitt Management Solutions
Throughout my career in corporate management and as a Certified Business Coach to many successful organizations, I have discovered an underlying destructive problem which tends to be ignored by many managers but not true leaders. That dilemma is micromanaging. READ MORE.
Delray commission tables motorcycle noise ordinance
By DAVID SEDORE, Palm Beach Business.com Staff
DELRAY BEACH — It was bikers’ night once again at Tuesday’s meeting of the Delray Beach City Commission. READ MORE.
Collaborative to move forward with plans to incorporate
By DAVID SEDORE, Palm Beach Business.com Staff
DELRAY BEACH — The Creative City Collaborative is going formal.
The group, created by the Delray Beach City Commission a year ago as an agency to set the city cultural agenda, has agreed to seek the city commission’s blessing to incorporate, while filing with the IRS as a nonprofit, charitable organization. READ MORE.
Rain fails to dampen cook-off
DELRAY BEACH — By one estimate as many as 5,000 jammed Old School Square for the 11th annual Palm Beach Firefighters & Paramedics Chili Cook-off. READ MORE.
Delray begins holiday drive to send care packages to military
DELRAY BEACH — The city and You Are Not Alone join with the Church of the Palms Congregational to kick off the 2nd Annual Project Holiday to gather and ship items to local members of the military deployed during the holidays. READ MORE.
Delray Beach moves to bring King's Market to the downtown
By DAVID SEDORE, Palm Beach Business.com Staff
DELRAY BEACH — It came down to the corporate headquarters or the deli. The deli won. READ MORE.
archived April 7, 2008
Hollywood businessman pleads guilty to fraud for role in scam
MIAMI — A Hollywood businessman has pleaded guilty in federal court to conspiracy, mail fraud and criminal contempt for his role in a DVD vending machine scam. READ MORE
Fixed mortgages continue to climb, Bankrate survey finds
NORTH PALM BEACH — Fixed mortgage rates climbed for the third week in a row, with the average conforming 30-year mortgage now at 6.41 percent, according to Bankrate.com's weekly national survey of large lenders. READ MORE.
City advisory board recommends holding the line on parking fees
DELRAY BEACH — The cost of new parking spaces for downtown businesses won’t be increasing — if the city’s parking management advisory board has its way. READ MORE.
Gas, diesel prices soar locally
DELRAY BEACH — Unless you don’t drive, or you use alternative fuels, you know the price of a gallon of gasoline has jumped significantly in the past week or so. READ MORE.
Make financial fitness a goal
By DEBRA TARGETT, Financial Consultant, CERTIFIED FINANCIAL PLANNER™ professional, A.G. Edwards & Sons Inc. a Division of Wachovia Securities LLC
Recent statistics show that Americans are not doing a very good job of saving. The U.S. Department of Commerce continues to report a negative national personal savings rate and the December 2006 A.G. Edwards Nest Egg Score survey found that while 64 percent of adults have a retirement plan in place, solid savings habits don’t seem to kick in until people reach the age of 40. To help ensure that you get started early enough, make financial fitness your goal this year and take advantage of both new and old ways to maximize your savings. READ MORE.
Used home-sales slump in Jan.
DELRAY BEACH — Used home sales once again took a beating in January, according to the latest stats from the Florida Association of Realtors.
Statewide, the number of used homes sold dropped 28 percent to 6,737 from 9,360 a year earlier. The median price fell 14 percent to $208,600 from $242,700. READ MORE.
Publishing articles can help build your professional reputation
By TINA L. PUGLIESE, APR, Pugliese Public Relations
Like lecturing, publishing is an excellent way to build your reputation as an expert in your business area. Also like lecturing, you will be surprised at how easy it is to get your articles published in newsletters, industry magazines and even newspapers. READ MORE.
Downtown Delray to get hotel
DELRAY BEACH — Downtown Delray is getting a hotel.
The Delray Beach Community Redevelopment Agency has approved and signed a contract with Old Library Development LLC to build a hotel and retail and office complex on the site of the old city library and the chamber of commerce offices between Federal Highway and SE 4th Avenue. READ MORE.
archived March 30, 2008
Delray chamber members gather at Salon 301
Local public relations pros attend 'PR in the RA' fundraiser.
Mortgage rates see biggest increase in 14 years, survey finds
NORTH PALM BEACH — Mortgage rates spiked this week, with the average conforming 30-year fixed mortgage rate jumping 41 points to 6.37 percent. READ MORE.
Changing others by changing you
By NANCY PROFFITT, Certified Business Coach Proffitt Management Solutions
Each of us has had someone in our live we thought we wanted to change and have tried to change? Whether that person has been a friend, family member, significant other, co-worker or employee, we felt compelled to get them to change. Maybe it was because we thought it would make their life better, improve them or just improve their job. Often we find that we want them to change to improve our own life. Here is a fact: changing someone else is impossible. READ MORE.
Florida regulators move again to suspend Allstate companies
TALLAHASSEE —The Office of Insurance Regulation has filed an administrative complaint to suspend Allstate’s ability to write new policies in Florida. READ MORE.
King's Market deal dead; Delray seeks buyer for garage space
By DAVID SEDORE, Palm Beach Business.com
DELRAY BEACH — So much for King’s Market coming to downtown Delray. READ MORE.
Understanding tax issues associated with trusts
By DEBRA TARGETT, Financial Consultant, CERTIFIED FINANCIAL PLANNER™ professional, A.G. Edwards & Sons Inc. a Division of Wachovia Securities LLC
If you’re familiar with any of the various types of trusts, you probably know them as an estate planning tool. But another aspect of trusts that is not as well known has to do with the tax implications of holding your assets “in trust.” While there are many different types of trusts that work toward a broad range of objectives, these unique planning vehicles can also be used to help manage your tax bill and even reduce the amount you send in to the IRS. READ MORE.
House members push for national solution to high insurance costs
By DAVID SEDORE Palm Beach Business.com Staff
WEST PALM BEACH — It’s not just Florida. Nor is it a regional problem.
The rising cost of homeowner’s insurance is a national problem and needs a national solution. That was the consensus among those testifying before members of a U.S. House of Representatives subcommittee Monday in West Palm Beach. READ MORE.
Use lectures to build your image
By TINA L. PUGLIESE, APR, Pugliese Public Relations
One of the most powerful ways to build your professional image is to give lectures. Presenting lectures and seminars creates an immediate perception of you as an expert. The more lectures you give, the more you are likely to be asked to speak, and with each lecture your reputation will be further enhanced. READ MORE.
Garlic Fest, tennis tourney make for busy weekend in Delray
DELRAY BEACH — Headed downtown? You'll have company — and lots of it. READ MORE.
archived March 25, 2008
Delray Chamber networks at The Blue Fish Japanese Restaurant
The Delray Beach Chamber of Commerce gathered at The Blue Fish Japanese Restaurant Thursday evening for its monthly business card exchange. PHOTOS HERE.
1st United-Equitable bank deal receives shareholder approval
BOCA RATON — Shareholders of 1st United Bancorp of Boca Raton and Equitable Financial Group of Fort Lauderdale have approved the merger of the two banks. READ MORE.
Gasoline prices hold steady nationally, drop in Florida
DELRAY BEACH — The cost of a gallon of gasoline held steady nationally this week, while dropping in Florida.
Palm Beach County prices remain the highest in the state. READ MORE.
The power of follow-up done well
By DAVID SEDORE, Palm Beach Business.com Staff
BOCA RATON — Excited. Appreciated. Validated. Ready to do business. Follow up the right way and that's how you leave your customers. Do it wrong, or not at all, and this is how you leave them feeling: Exasperated. Frustrated. Disappointed. Mistrusting. READ MORE.
B/E sets fourth quarter records
WELLINGTON — B/E Aerospace said Monday that it nearly doubled profit for the fourth quarter and that it expects to see continued growth over the next three years. READ MORE.
Spherion finds worker confidence index falling to three-year low
FORT LAUDERDALE — Worker confidence in January dipped to its lowest level in three and a half years, according to the Spherion Employee Confidence Index. READ MORE.
archived march 13, 2008
Appeals court allows Allstate to continue writing new policies
TALLAHASSEE — A state appeals court will allow Allstate to continue writing new insurance policies while it hears the carrier’s appeal of a state order that suspended the company’s license.
The First District Court of Appeal also ordered a 40-day timeline for filing briefs and documents in the case.
Earlier in January, Insurance Commissioner Kevin McCarty suspended Allstate’s license to write new policies after the company failed to provide all documents subpoenaed for a hearing examining the company’s business practices. The hearing focused on homeowners insurance, but McCarty’s order affected all lines of business.
Allstate took the suspension to court and won a stay.
Since then, Allstate has produced about 25,000 pages of documents.
Delray board continues to debate paid parking for the downtown
By DAVID SEDORE, Palm Beach Business.com staff
DELRAY BEACH — Lots of ideas, little consensus other than paid parking in the downtown won’t be popular.
Tuesday night, the Delray Beach Parking Management Advisory Board once again took up the thorny question of how to impose paid parking without creating — or at least minimizing — a public relations disaster. READ MORE.
Our Opinion: Proposition One just doesn't deliver real reform
We oppose Proposition One. It’s not that we don’t believe property tax reform isn’t needed. It is. Desperately.
The problem is that Prop One doesn’t deliver what’s really needed. READ MORE.
Early retirement an option? Roll it over
By DEBRA TARGETT, Financial Consultant, CERTIFIED FINANCIAL PLANNER™ professional, A.G. Edwards & Sons Inc. a Division of Wachovia Securities LLC
You’ve put in long hours at the office for years, saved diligently even during the hard times and raised your children to be independent adults. Now, with early retirement quickly approaching, you know that your planning has finally paid off. But, before you set out for some wild adventure, there might be some unfinished business you need to consider as an early retiree. READ MORE.
FPL Group sees profit fall
JUNO BEACH — FPL Group reported Monday a decline in fourth quarter profit despite what CEO Lew Hay called the excellent performance of FPL Energy. READ MORE.
Selecting the Right Colors
By TINA L. PUGLIESE, APR, Pugliese Public Relations
The most important psychological element of your marketing image is color. Different colors have a different emotional impact on people, so understanding the affect of color on your clients is an essential element of creating a strong business image. READ MORE.
Mortgages drop to four-year low
NORTH PALM BEACH — Talk is cheap, but this week so is money.
Mortgage rates dropped for the fourth week in a row, with the average conforming 30-year fixed mortgage rate now 5.57 percent, according to Bankrate.com's weekly national survey of large lenders. READ MORE.
archived march 7, 2008
An exceptional few: Are you among the three percent?
By NANCY PROFFITT, President of Proffitt Management Solutions and Proffitt Management Leadership Institute
Do you have clearly defined written goals? Or are they just in your head? Research shows that those people who actually sit down and write out their goals not only end up achieving them, but have higher incomes and greater perceived success and life satisfaction. READ MORE.
State defends Allstate suspension, calls failure to produce documents a crime
TALLAHASSEE — The battle between Florida insurance regulators and Allstate continues.
The Florida Office of Insurance Regulation said We sdnesday that it has asked an appeals court to reinstate its suspension of Allstate’s license to write new business in the state. OIR suspended Allstate last week, but the First District Court of Appeal in Tallahassee granted Allstate a stay. READ MORE.
Stock market fall pushes Lennar, Office Depot to historic lows
By DAVID SEDORE, Palm Beach Business.com
So how sick is the housing market? How down are stocks?
Consider that homebuilder Lennar Corp. closed Friday at $12.99 a share. As best we can tell from work our research department (me) did, the last time Lennar was that low, George Bush was president. George Herbert Walker Bush that is. Saddam Hussein was just another Middle East despot — September 1990. READ MORE.
Appeals court lifts Allstate ban
TALLAHASSEE — Allstate was back in business Thursday afternoon after a state appeals court lifted the suspension imposed earlier in the week by the Office of Insurance Regulation. READ MORE.
archived Feb. 24, 2008
Worker confidence falls in Florida
FORT LAUDERDALE — Confidence among Florida workers dipped precipitously in December as statewide unemployment continued to rise.
Spherion’s Florida Employee Confidence Index dropped 8.5 points to 48.5 last month, the lowest level ever. Harris Interactive conducted the on behalf of Spherion Corp., the Fort Lauderdale-based staffing firm. READ MORE.
Florida's jobless rate rises
TALLAHASSEE — Florida’s jobless rate continued to climb in December as the state’s economy continued to shed construction jobs, but stayed below the national level, according to the Agency for Workforce Innovation. READ MORE.
McCarty suspends Allstate's license to write new policies
TALLAHASSEE — Florida Insurance Commissioner Kevin McCarty has suspended the Allstate companies’ license to write new insurance business in Florida until they fully comply with the subpoenas served last fall. READ MORE.
City Partners is buying Boca's Campus Management
BOCA RATON — Boca-based Campus Management Corp. said Thursday that Leeds Equity Partners is buying the firm for an undisclosed sum. READ MORE.
FPL changes St. Lucie wind plans
JUNO BEACH — Florida Power & Light Co. has changed its plans to build wind turbines in St. Lucie County, eliminating four proposed for local parks and instead building six at its nearby nuclear plant. READ MORE.
B/E affirms estimates for '08
WELLINGTON — B/E Aerospace Inc., the manufacturer of aircraft cabin interior products and distributor of aerospace fasteners, Wednesday said it expects to report record operating earnings for the fourth quarter.The company also expects to report record quarterly bookings, backlog and revenue for the quarter ended December 31, 2007. The company will release its fourth quarter and full year 2007 financial results in early February 2008.“We experienced robust market conditions during the fourth quarter which have continued to date,” chairman and CEO Amin J. Khoury said. “Accordingly, we are confirming our prior guidance for 2008.”Shares of B/E were down 82 cents to $38.98 in afternoon trading.
ARCHIVED FEB. 15, 2008
Regulators abruptly halt Allstate homeowners hearing
TALLAHASSEE — A scheduled two-day hearing involving Allstate insurance companies and their failure to reduce homeowners rates came to an abrupt halt Tuesday when Florida Insurance Commissioner Kevin McCarty deemed the hearing as unproductive. READ MORE.
Gas prices drop nationally but not as sharply in Florida, EIA reports
DELRAY BEACH — The cost of gasoline fell by four cents a gallon nationally, according to the federal Energy Information Administration's weekly survey release late Monday. READ MORE.
Construction execs back approval of property tax reform measure
FORT LAUDERDALE — The Construction Executives Association is backing the the property tax reforms that will appear for voter approval on the Jan. 29 ballot. READ MORE.
The Gift of Giving: “Sean’s Run”
By ALEX CHRISTIAN, Gulfstream Goodwill Industries
WEST PALM BEACH — Our son Sean passed away January 4th, 2006 at the age of fifteen after a five-year battle with leukemia. He was four days shy of his sixteenth birthday.
Throughout the last five years of his life Sean underwent numerous hospitalizations, chemotherapy, radiation, and a bone marrow transplant. Throughout his entire fight with leukemia Sean never complained and went out of his way to help others. When presented with an opportunity by the Make A Wish Foundation for anything he wanted Sean chose to visit Ground Zero in New York City to support the firemen, police, rescue workers, and families of the victims. He also raised money for the victims of the Tsunami. READ MORE.
Fuel prices continue to rise
DELRAY BEACH — Fuel prices shot upward for the second consecutive week, according to the federal Energy Information Agency.
Locally, Palm Beach County continues to be the most expensive place in Florida to buy gasoline, with prices again nearing the all-time high set in November. READ MORE.
Apollo's $1 billion investment in NCL Corp. now complete
MIAMI — NCL Corp., parent company of Norwegian Cruise Line and NCL America, said Monday that it has closed on a $1 billion cash stock investment by private equity group Apollo Management LP. READ MORE.
Worker confidence dipped to low in Dec., Spherion survey finds
FORT LAUDERDALE — Workers’ confidence level dipped to its lowest level of the year, according to the December reading of the Spherion Employee Confidence Index released Friday. READ MORE.
Fuel prices continue slow moderation, reports show
DELRAY BEACH — Fuel prices continue to moderate slowly nationally and in Florida, according the latest numbers from the Energy Information Administration. READ MORE.
Office Depot survey finds work-life balance key goal
DELRAY BEACH — A national survey conducted by Office Depot finds that achieving work-life balance tops the list of business priorities for the New Year. READ MORE.
Volunteers are needed to keep alive the Christmas spirit
DELRAY BEACH — It’s the time of year when generosity becomes second nature, when people give of their time and their money to myriad good causes.
The thousands of people who volunteer their time at nonprofit groups throughout Palm Beach County keep that Christmas spirit alive throughout the year, says Scott Badesch, president of the United Way of Palm Beach County. And by doing so, they fill a vital role. READ MORE.
Worker confidence index dips
FORT LAUDERDALE — The Florida Employee Confidence Index slipped a half point in November to a reading of 57, according to Spherion Corp.
The index, based on a survey of workers by Harris Interactive for Spherion, found more workers confident in their ability to find a job and confident in the future of their employers. READ MORE.
Florida's jobless rate ticks up; Palm Beach County's rate falls
DELRAY BEACH — The good news: Local jobless rates remain relatively low by historical standards.
The bad news: They’re much higher than a year ago numbers, and seasonal hiring generally is doing little to bring them down. READ MORE.
Heico sees increase in profit
HOLLYWOOD — Heico, the Hollywood-based maker of jet engine parts, late Friday reported fourth quarter profit of $10.8 million, or 41 cents, on revenue of $140 million.
That compares with profit of $9.3 million, or 37 cents a share, on revenue of $110 million for the same period a year ago.
For the year, profit totaled $39 million, or $1.52 a share, on revenue of $508 million, compared with profit of $32 million, or $1.27 a share, on revenue of $392 million.
"We are extremely pleased to report all-time record highs in consolidated net sales, operating income and net income in our full-year fiscal 2007 results,” said Laurans A. Mendelson, Heico’s chairman and CEO,
The company projected per share earnings of $1.73 to $1.76 and revenue of $575 million to $580 million for fiscal 2008.
Shares were up $4.70, or more than 10 percent, to $50.98 in afternoon trading.
Delray Beach contemplates charging for parking downtown
DELRAY BEACH — To charge or not to charge. For parking in the downtown, that is.
That question is likely to be among the most contentious facing the city in the coming year, as it figures out how to pay for the recently opened parking garages while balancing the interests of downtown businesses. Merchants fear that paid parking might cause customers to go elsewhere to shop or to dine, which in a soft economy, could be deadly. READ MORE.
Workforce Alliance plans two-week virtual job fair for February
WEST PALM BEACH — Palm Beach County’s Workforce Alliance will hold a Virtual Job Fair starting on Feb. 16 through Feb. 29. READ MORE.
Fuel prices moderate modestly
DELRAY BEACH — Gasoline and diesel prices continue to fall ever so slowly. So slowly you might not even notice.
The federal Energy Information Administration’s weekly survey of prices puts the average cost for a gallon of gasoline at $3.05, down from $3.053 a week ago. That figure averages all grades. READ MORE.
Delray expands downtown shuttle
DELRAY BEACH — Delray’s Downtown Roundabout Shuttle service will expand as of Monday, thanks to the Florida Department of Transportation. READ MORE.
Work on Worthing Place condo project could begin soon
By DAVID SEDORE, Palm Beach Business.com Staff
DELRAY BEACH — Worthing Place, the 217-unit condo project in the downtown, could be coming out of the ground soon. Very soon. READ MORE.
Dockerty Romer arranges loan for California medical building deal
DELRAY BEACH — Craig Romer of Delray Beach-based Dockerty Romer & Co. has arranged $10.7 million in acquisition financing for Escondido Medical Arts building in Escondido, Calif. READ MORE.
Office Depot to offer free copies
DELRAY BEACH — Office Depot is offering customers free copies, up to 25 single-sided pages, of their 2007 tax returns between April 6 and 15. The service will available at more than 1,200 Office Depot stores nationwide.
“While the trend in taxes has shifted greatly in the direction of electronic filing, it’s always important to have a hard copy of all of your important tax information and paperwork,” said Randy Pianin, senior vice president of Office Depot’s Design, Print, & Ship Depot.Office Depot enters technology services, repairs business
DELRAY BEACH — Office Depot said Tuesday that it is launching a tech support service called Tech Depot Services. In-home and in-office services are available for customers throughout the country, while 85 Office Depot retail locations in Florida are also offering Tech Depot Services in-store.
Office Depot said it expects the service to be available at all of its stores nationwide this year.
Tech Depot Services will set up virtually any technology product, plus it will provide PC tune-ups and repairs, wireless network installation, new software installation, TV installation, and even setting up a data protection and back-up plan for critical files.
“Many small businesses and home office professionals simply don’t have the time or budget to handle their numerous computer and technology needs and are looking for help,” said Chuck Rubin, president of North American Retail for Office Depot.
VeriChip gets $8 million loan
DELRAY BEACH — VeriChip Corp., a provider of radio frequency identification systems for health-care uses, said Tuesday said it has received an $8 million loan from Valens Offshore II Corp.
The financing is a thirteen-month, non-convertible term loan bearing interest at an annual rate interest rate of 12 percent. In consideration of the financing, VeriChip issued to Valens 120,000 shares common stock.
The company will use $5.3 million to prepay debt owed to Digital Angel. As a result, VeriChip will not be obligated to make any further debt service payments to Digital Angel until September 2009, effectively increasing its working capital by more than $3.6 million for 2008.
City advisory board recommends holding the line on parking fees
DELRAY BEACH — The cost of new parking spaces for downtown businesses won’t be increasing — if the city’s parking management advisory board has its way. READ MORE.
King's Market deal dead; Delray seeks buyer for garage space
By DAVID SEDORE, Palm Beach Business.com
DELRAY BEACH — So much for King’s Market coming to downtown Delray. READ MORE.
Montague, Fetzer win re-election
DELRAY BEACH — Incumbents Brenda Montague and Fred Fetzer have won new two-year terms on the city commission.
The city has scheduled a March 11 election, but Montague and Fetzer did not draw opposition by the filing deadline.
Fetzer serves as vice mayor; Montague is deputy vice mayor.
Delray board continues to debate paid parking for the downtown
By DAVID SEDORE, Palm Beach Business.com staff
DELRAY BEACH — Lots of ideas, little consensus other than paid parking in the downtown won’t be popular.
Tuesday night, the Delray Beach Parking Management Advisory Board once again took up the thorny question of how to impose paid parking without creating — or at least minimizing — a public relations disaster. READ MORE.
Integrative Acupuncture holds open house for charity
DELRAY BEACH — Integrative Acupuncture officially opened for business Friday with an open house and ribbon-cutting ceremony. READ MORE.
United Way opens VITA tax prep sites throughout county
BOYNTON BEACH —The United Way of Palm Beach County is offering free income-tax preparation service to Palm Beach County residents who earned $40,000 or less in 2007.
The program is available through the United Way’s Volunteer Income Tax Assistance (VITA) sites. Last year, over 10,000 individuals and families used this service, and received $14 million in refunds.
United Way operates more than 25 VITA sites, which are located throughout the county. More than 200 volunteers, IRS trained and certified, are recruited by United Way to prepare the tax returns.
Returns are e-filed so taxpayers can receive their return in 10 to 12 days. Sites are open days, nights and weekends, with many of them providing services in both English and Spanish, and services for the disability community.
United Way of Palm Beach County has an updated list of VITA sites on its Web site; residents can call 2-1-1, the county's information and referral line, to find a site.
Auburn gets $1 million loan write-off for Southwest redevelopment
By DAVID SEDORE, Palm Beach Business.com Staff
DELRAY BEACH — Auburn Development didn’t quite get what it originally wanted. But company executives didn’t leave Wednesday’s meeting with the Delray City Commission empty handed either. READ MORE.
Integrative Acupuncture to hold open house for charity
DELRAY BEACH — Dr. Harmony Brown and Dr. Kim Marrone of Integrative Acupuncture are sponsoring a free open house on Friday to raise money for the Leukemia & Lymphoma Society and AVDA of Palm Beach County.
The even will run from 5 to 7 p.m. at Integrative’s offices at 220 Congress Park Drive, Suite 239.
The open house will include free demonstrations of tai chi, pilates yoga, and free mini massages. Anyone who donates $20 or more to the Leukemia Society or AVDA will receive a free wellness consultation and stress screening from Integrative Acupuncture.
The event is co-sponsored by Blush Salon in Pineapple Grove and Avenue Pilates.
Carnival agrees to refund fuel charge for some travelers
MIAMI — Carnival Corp. has become the second cruise company to refund some customers for the fuel surcharge implemented in February.
Carnival said the refund was voluntary under an agreement with the Florida Attorney General’s Office. READ MORE
archived May 6, 2008
Garlic Fest announces poster contest winners
Visual arts teacher Jenny Gifford, left with Rhonny Tufino, Sara Haley and principal Ellen VanArsdale.
DELRAY BEACH — Rhonny Tufino's artwork won first place in the poster contest for 9th Annual Delray Beach Garlic Fest. Tufino is a 10th grade student at Alexander W. Dreyfoos Jr. School of the Arts in West Palm Beach, and received a check for $500.Tufino researched the Garlic Fest, evaluated poster art from prior years, photographed various food items, downloaded miscellaneous images from the internet and, using acrylics, completed his painting in an evening.Tufino’s artwork will be used for all printed materials, including posters, t-shirts, ads, promotional items and kitchen tiles.Meanwhile, Sara Haley received honorable mention for her effort. Sara is an 11th grade student and completed her acrylic painting while studying art this semester in Napa Valley, Calif.Haley, a regular at Garlic Fest for years, wanted her poster to capture the music and "heart" of the festival."Garlic fest to me is all about being with my friends, very loud singing, and mad-crazy dancing to great music!” Haley said.Sara's artwork will be used on t-shirts, note cards and other item available for sale at the Garlic Fest mercantile tent.Students will be available to autograph posters at the Garlic Fest. For more information see www.dbgarlicfest.com.
Delray commission tables motorcycle noise ordinance
By DAVID SEDORE, Palm Beach Business.com Staff
DELRAY BEACH — It was bikers’ night once again at Tuesday’s meeting of the Delray Beach City Commission. READ MORE.
Collaborative to move forward with plans to incorporate
By DAVID SEDORE, Palm Beach Business.com Staff
DELRAY BEACH — The Creative City Collaborative is going formal.
The group, created by the Delray Beach City Commission a year ago as an agency to set the city cultural agenda, has agreed to seek the city commission’s blessing to incorporate, while filing with the IRS as a nonprofit, charitable organization. READ MORE.
Rain fails to dampen cook-off
DELRAY BEACH — By one estimate as many as 5,000 jammed Old School Square for the 11th annual Palm Beach Firefighters & Paramedics Chili Cook-off. READ MORE.
Delray begins holiday drive to send care packages to military
DELRAY BEACH — The city and You Are Not Alone join with the Church of the Palms Congregational to kick off the 2nd Annual Project Holiday to gather and ship items to local members of the military deployed during the holidays. READ MORE.
Delray Beach moves to bring King's Market to the downtown
By DAVID SEDORE, Palm Beach Business.com Staff
DELRAY BEACH — It came down to the corporate headquarters or the deli. The deli won. READ MORE.
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