Elvita Francois proudly shows off a shiny new buffet counter at her tiny restaurant inside the Opa-locka Flea Market, where she serves Haitian and Latin specialties like goat, oxtail and congris. As an entrepreneur operating on a shoestring, Francois didn't have the means to buy that counter -- or other equipment like a refrigerator, freezer and stove that she had to replace soon after she drained her savings to purchase Job Restaurant four years ago.
So she turned to OUR MicroLending, a Miami-based lender and worked out a loan for a little more than $2,000.
"They helped me a lot," said Francois, 58, who lives in North Miami Beach. "I didn't have money in my hand to even buy food."
With banks cutting back on lending during the past two years of financial crisis, microlenders are seeing a rise in demand, as small businesses -- the lifeblood of South Florida's economy -- still require credit to keep their businesses afloat.
www.miamiherald.com/2010/07/25/1744376/tiny-loans-propel-big-dreams.html
Monday, July 26, 2010
Posey Announces Aug. 12 Job Fair
Congressman Bill Posey (R-Rockledge) has announced an upcoming job fair at Osceola Heritage Park on August 12, 2010 from 9 a.m. – 1 p.m. All participating employers are presently seeking candidates to fill available positions within their companies and organizations. There is no cost to participate and no pre-registration required. Attendees should dress in professional and appropriate attire and come prepared with copies of their resume
The Osceola Job Fair will be hosted in conjunction with: Workforce Central Florida, Osceola County EDD, Heart of Florida United Way, Kissimmee/Osceola County Chamber of Commerce, St. Cloud Area Chamber, U.S. Small Business Association, Internal Revenue Service, Bright House Networks, University of Florida IFAS (Osceola County Extension), Osceola County on Aging, Community Vision, Inc., Osceola Human Services/Library Services, Osceola County Sherriff’s Office, Hispanic Business Initiative Fund, UCF Business Incubation Program, and State Representative Mike Horner.
The Osceola Job Fair will be hosted in conjunction with: Workforce Central Florida, Osceola County EDD, Heart of Florida United Way, Kissimmee/Osceola County Chamber of Commerce, St. Cloud Area Chamber, U.S. Small Business Association, Internal Revenue Service, Bright House Networks, University of Florida IFAS (Osceola County Extension), Osceola County on Aging, Community Vision, Inc., Osceola Human Services/Library Services, Osceola County Sherriff’s Office, Hispanic Business Initiative Fund, UCF Business Incubation Program, and State Representative Mike Horner.
Kissimmee SBDC staffer honored
Perez is the program assistant for the SBDC's sub-center in Kissimmee and was recognized for the greatest contribution to the operations or special projects for the region. Perez has served the SBDC at UCF-Kissimmee for the past three and half years, providing administrative and operational support to the area manager, coordinating events, and promoting SBDC services to the Hispanic community within Osceola County.
Wednesday, July 21, 2010
Jennie Finch retiring after season
Jennie Finch had no trouble dazzling everyone. The striking blonde with the unhittable stuff was the most dominant softball pitcher of her time, giving her sport a new face just as it was starting to really catch on in the United States. Finch won an NCAA championship in record-setting fashion and added Olympic gold as she spread softball's popularity in America and beyond. But after 10 years of playing internationally, Finch is turning her focus to her family and her desire to have more children. The 29-year-old Finch announced Tuesday that she'll play one more week with the U.S. team and retire from the sport next month when the National Pro Fastpitch season is over. http://sports.espn.go.com/oly/news/story?campaign=rss&ex_cid=Twitter_espn_5394292&id=5394292&source=twitter
The Bandits play four games at ESPN Wide World of Sports Complex in Osceola County July 29-31 vs. the USSSA Pride.
The Bandits play four games at ESPN Wide World of Sports Complex in Osceola County July 29-31 vs. the USSSA Pride.
Tuesday, July 20, 2010
Sanford-Burnham news
The Sanford-Burnham Medical Research Institute now has 17 lead scientists at Lake Nona and is more than halfway toward fulfilling its plan to recruit up to 30 principal investigators to the site, it announced recently. One of the hubs in Central Florida's growing Medical/Life Science cluster, the recruitment further expands the Institute’s expertise in basic discovery and its translational capabilities to develop therapeutics aimed at pervasive diseases such as obesity, diabetes, cardiovascular disease and cancer. Fraydoon Rastinejad, Ph.D. and Sepideh Khorasanizadeh, Ph.D., both from the University of Virginia, are the newest members of the faculty.
Florida's workforce ranked No. 1
The Sunshine State was ranked No. 1 in the nation for its work force in CNBC’s newly released fourth annual America’s Top States for Business rankings, the Orlando Business Journal reports. The CNBC study examines 10 different categories, including work force, to measure each state’s ability to attract businesses. Florida moved up from the No. 3 spot in 2009, reclaiming the No. 1 ranking it held in 2008. The rankings can be viewed online at www.cnbc.com/id/37516706.
Sentinel report on commercial lease rates
This report from the Orlando Sentinel: "While there's no shortage of empty industrial space in the Orlando area, the region is showing signs that point to a recovery. A second-quarter report by CB Richard Ellis noted that corporate users are taking advantage of market conditions by negotiating long-term leases at aggressive rental rates. Landlords continue to offer concessions and historically low rental rates as they compete for tenants able to commit to long-term leases.
Orange, Seminole and Osceola counties had a 16.3 percent overall vacancy rate for industrial space in the April-through-June period. Vacancies were highest in southeast Orange, at 23.6 percent, while northeast Orange had the lowest rate, 6.8 percent, the report stated.
It also cited an increased number of owner-users actively looking for buildings to acquire, with the expectation that building sales will slowly increase. A majority of prospective buyers are interested in buildings from 20,000 to 50,000 square feet, though a few are shopping in the 100,000- to 250,000-square-foot range."
Orange, Seminole and Osceola counties had a 16.3 percent overall vacancy rate for industrial space in the April-through-June period. Vacancies were highest in southeast Orange, at 23.6 percent, while northeast Orange had the lowest rate, 6.8 percent, the report stated.
It also cited an increased number of owner-users actively looking for buildings to acquire, with the expectation that building sales will slowly increase. A majority of prospective buyers are interested in buildings from 20,000 to 50,000 square feet, though a few are shopping in the 100,000- to 250,000-square-foot range."
Recycling gets boost?
New legislation aims to light a fire under Florida's lukewarm recycling efforts, according to SunshineStateNews.Com. Blending a market-based approach with more rigorous reporting requirements, House Bill 7243 aims to move the state closer to its 75 percent recycling goal by 2020. That on-again, off-again target, originally set by lawmakers a decade ago, has receded into the distance in recent years. Some Florida communities' recycling rates barely top 30 percent. HB 7243, which was signed into law by Gov. Charlie Crist, went into effect July 1 and establishes a Recycling Business Assistance Center to coordinate between state agencies and the private sector to develop new markets for recyclable materials locally and globally.
Collier out of race for Cubs
Naples officials hoping to bring the Chicago Cubs to Collier County for spring training said they withdrew their spring training proposal, according to a news report. The decision comes after the group — dubbed Project Homerun — was unable to get the assurances it needed from team president Crane Kenney to continue with their work. Those assurances, said Gary Price, a partner in Fifth Avenue Advisors, one of the two private companies trying to lure the Cubs from Mesa, Ariz., included an exclusive negotiation period similar to what was afforded to Mesa.
State officials will not seek funds this summer to extend high-speed rail to Tampa's airport, the Tampa Tribune reports. That means the first phase of high-speed rail would end, as long planned, in downtown Tampa when service begins in 2015. Nazih Haddad, chief operating officer for Florida Rail Enterprise, said in an interview Monday the state will apply next month for $1 billion state in federal funds to complete the Tampa-Lakeland-Orlando route, but the application would not include a Tampa airport station, as some recently have supported. In January, the Obama administration had awarded $1.25 billion, or about half the money needed to complete the project, with the understanding that additional funds would be available in the future.
State's Tax Amenesty Program underway
Starting July 1, 2010, Florida taxpayers that owe back taxes will have the ability to participate in Florida’s three-month Tax Amnesty program. Signed into law by Governor Charlie Crist, the amnesty program gives taxpayers a chance to settle their debts with the state at a reduced interest payment, and with no imposed penalties. Learn more here.
Monday, July 19, 2010
Avatar Holdings ranks high in Cash Equivalents
Below are the top five cash rich companies in the Real Estate Development industry as ranked by Cash Equivalents, according to http://www.mysmartrend.com/. Analysts use CE as a measure to compare the cash cushion of companies in the same industry.
Avatar Holdings (NASDAQ:AVTR) ranks first with CE of $213.23M; Forestar Group (NYSE:FOR) ranks second with CE of $6.59M; and Stratus Properties (NASDAQ:STRS) ranks third with CE of $5.91M. Homefed (NASDAQ:HOFD) follows with a CE of $5.87M and Maui Land & Pineapple (NYSE:MLP) rounds out the top five with a CE of $0.8M.
Avatar Holdings Inc. operates in the real estate business in Florida and Arizona. It engages in the development, sale, and management of active adult communities that include recreation facilities, two 18-hole golf courses, and an active park housing various sporting and games facilities. The company also involves in the development and sale of primary residential communities. In addition, it sells commercial and industrial land for third-party development, primarily in Poinciana. As of December 31, 2009, it owned approximately 16,000 acres and had ownership interest in an additional 830 acres of developed, partially developed, and developable residential, commercial, and industrial property. The company was founded in 1970 and is headquartered in Coral Gables.
Avatar Holdings (NASDAQ:AVTR) ranks first with CE of $213.23M; Forestar Group (NYSE:FOR) ranks second with CE of $6.59M; and Stratus Properties (NASDAQ:STRS) ranks third with CE of $5.91M. Homefed (NASDAQ:HOFD) follows with a CE of $5.87M and Maui Land & Pineapple (NYSE:MLP) rounds out the top five with a CE of $0.8M.
Avatar Holdings Inc. operates in the real estate business in Florida and Arizona. It engages in the development, sale, and management of active adult communities that include recreation facilities, two 18-hole golf courses, and an active park housing various sporting and games facilities. The company also involves in the development and sale of primary residential communities. In addition, it sells commercial and industrial land for third-party development, primarily in Poinciana. As of December 31, 2009, it owned approximately 16,000 acres and had ownership interest in an additional 830 acres of developed, partially developed, and developable residential, commercial, and industrial property. The company was founded in 1970 and is headquartered in Coral Gables.
New Web site for Mercury Marine
Mercury Marine, with a plant in St. Cloud, has redesigned its consumer website, mercurymarine.com, by updating the product information content and the layout for easier navigation and accessibility, Mercury reported in a press release.
The company says a new dropdown menu with one-click access to all product families and services makes the site easier to navigate. Product specifications and engine test data are now placed together and engine tests are now linked on the homepage. Visitors to the site will also soon be able to view products that complement the engine. The site now features shareable video content, including tutorial videos. Mercury Marine’s Facebook and Twitter pages are also linked on the homepage.
Other new features include interactive tools that help uncertain visitors make educated decisions on parts; recommendations based on variables such as boat type, technology and horsepower; and a remodeled Mercury Prop Selector.
The company says a new dropdown menu with one-click access to all product families and services makes the site easier to navigate. Product specifications and engine test data are now placed together and engine tests are now linked on the homepage. Visitors to the site will also soon be able to view products that complement the engine. The site now features shareable video content, including tutorial videos. Mercury Marine’s Facebook and Twitter pages are also linked on the homepage.
Other new features include interactive tools that help uncertain visitors make educated decisions on parts; recommendations based on variables such as boat type, technology and horsepower; and a remodeled Mercury Prop Selector.
Gaylord Revenue rises
Gaylord Entertainment Co. on Monday said its second-quarter revenue per available room rose, despite the shutdown of one of its four hotels because of flooding. The Gaylord Opryland has been closed since the first week of May because of major flooding in Nashville. Through June 30, advance reservations for 273,151 room nights were canceled at the severely damaged hotel.
The company has worked to transfer conventions scheduled for that facility to other properties. Advance bookings through June 30 included 43,645 flood-impacted room nights that were transferred to other Gaylord hotels, the company said.
Revenue per available room, an important gauge of a lodging operator's performance, rose 5.7 percent at its properties in Kissimmee, Grapevine, Texas and National Harbor, Md.
Total revenue per available room, which includes food and beverage sales and other services, rose 4.7 percent at the three remaining hotels.
Gaylord Entertainment is scheduled to post full second-quarter results before the market opens on Aug. 3.
In afternoon trading, Gaylord shares added 47 cents, or 2 percent, to $24.90. The stock has changed hands between $10.22 and $34.55 in the past 52 weeks.
The company has worked to transfer conventions scheduled for that facility to other properties. Advance bookings through June 30 included 43,645 flood-impacted room nights that were transferred to other Gaylord hotels, the company said.
Revenue per available room, an important gauge of a lodging operator's performance, rose 5.7 percent at its properties in Kissimmee, Grapevine, Texas and National Harbor, Md.
Total revenue per available room, which includes food and beverage sales and other services, rose 4.7 percent at the three remaining hotels.
Gaylord Entertainment is scheduled to post full second-quarter results before the market opens on Aug. 3.
In afternoon trading, Gaylord shares added 47 cents, or 2 percent, to $24.90. The stock has changed hands between $10.22 and $34.55 in the past 52 weeks.
Friday, July 16, 2010
State unemployment down again in June
Florida’s seasonally adjusted unemployment rate for June 2010 is 11.4 percent. The unemployment rate is down 0.3 percentage point from the May rate of 11.7 percent. This is the third consecutive monthly decline in the state’s unemployment rate and the lowest rate since October 2009. Prior to this year, the last time Florida recorded monthly declines in unemployment rates was February 2006. Osceola County's unemployment rate was unchanged from May -- 12.1 percent.
More Venture capital news
Venture capitalists funneled more money into U.S. startups in the second quarter, indicating continuing confidence that the economy is on the mend, the AP reports.
A study scheduled for release Friday shows that startup investments in the April-June period climbed 53 percent from the same three months in 2009 to $6.5 billion. This is the most money invested in startups since the third quarter of 2008.
Funding went to more seed and early-stage companies than in any quarter since mid-2007. That signals investors are feeling good about investing in new ideas even though the market for acquisitions and public stock offerings for more mature startups continues to be rough -- meaning it'll be awhile before venture capitalists see returns on their investments.
The study was conducted by PriceWaterhouseCoopers and the National Venture Capital Association based on data from Thomson Reuters.
A study scheduled for release Friday shows that startup investments in the April-June period climbed 53 percent from the same three months in 2009 to $6.5 billion. This is the most money invested in startups since the third quarter of 2008.
Funding went to more seed and early-stage companies than in any quarter since mid-2007. That signals investors are feeling good about investing in new ideas even though the market for acquisitions and public stock offerings for more mature startups continues to be rough -- meaning it'll be awhile before venture capitalists see returns on their investments.
The study was conducted by PriceWaterhouseCoopers and the National Venture Capital Association based on data from Thomson Reuters.
Venture Forum at ChampionsGate
The Florida Venture Forum is now calling for early stage private companies in all industries from the state of Florida to apply to be presenters at its Third Annual Early Stage Venture Capital Conference, to be held Sept. 15, 2010 at the Omni Resort in ChampionsGate.
The Florida Venture Forum is Florida’s premier organization focused on assisting entrepreneurs of emerging companies as they develop their businesses and raise capital. The Early Stage Venture Capital Conference showcases approximately 10-12 early stage, high growth private companies before a national audience of venture capitalists, angel investors, private equity investors and investment bankers. These entrepreneurial companies should have talented management teams, proprietary technology and high growth potential, and should currently be seeking early stage funding.
Companies wishing to submit an application to present at the Conference must e-mail their one-page Executive Summaries to pat@floridaventureforum.org. Potential presenters are encouraged to apply by the early deadline of Friday, July 30, 2010 and the final deadline is Tuesday, Aug. 31, 2010.
The Executive Summaries will be reviewed by a selection committee comprised of venture capitalists and private equity investors.
The Florida Venture Forum is Florida’s premier organization focused on assisting entrepreneurs of emerging companies as they develop their businesses and raise capital. The Early Stage Venture Capital Conference showcases approximately 10-12 early stage, high growth private companies before a national audience of venture capitalists, angel investors, private equity investors and investment bankers. These entrepreneurial companies should have talented management teams, proprietary technology and high growth potential, and should currently be seeking early stage funding.
Companies wishing to submit an application to present at the Conference must e-mail their one-page Executive Summaries to pat@floridaventureforum.org. Potential presenters are encouraged to apply by the early deadline of Friday, July 30, 2010 and the final deadline is Tuesday, Aug. 31, 2010.
The Executive Summaries will be reviewed by a selection committee comprised of venture capitalists and private equity investors.
Monday, July 12, 2010
Merck Shutting Sites as Part of Consolidation
Merck will close eight research sites and eight manufacturing plants as part of its restructuring plans following its merger with Schering-Plough, according to Drug Industry Daily. The drug giant expects to save between $2.7 billion and $3.1 billion in annual costs in 2012 as a result, the company said. It also plans on laying off 15 percent of the combined companies’ workforce to achieve a goal of $3.5 billion in annual savings. Merck’s Cambridge, Mass., research facility is the only U.S.-based one slated for closure.
Thursday, July 1, 2010
Florida getting $7 millon to retrain workers effected by spill
While local governments struggle to get reimbursed for millions spent fighting the Deepwater Horizon Oil spill, the federal government is about to grant Florida $7 million in retraining programs for laid off workers in the fishing, hospitality and tourism industries in 27 coastal counties, Florida Today reports.
The National Emergency Grant, announced Wednesday by U.S. Sen. Bill Nelson, an Orlando Democrat, is coming from the U.S. Department of Labor and will be administered by the state Agency for Workforce Innovation.
Counties covered by the grant include Escambia, Santa Rosa, Okaloosa, Jefferson, Franklin, Gulf, Bay, Lee, Collier and Charlotte. Florida got the second-largest haul of a total of $27 million worth of retraining money, with Louisiana getting $10 million and Mississippi and Alabama each getting $5 million.
The programs eventually will be available at AWI's one-stop career centers. However, an AWI spokeswoman said it was too early to say when the programs will be up and running.
U.S. Department of Labor spokeswoman Lina Garcia said the money will pay for rapid retraining and certification programs so that workers can launch new careers or find new jobs as quickly as possible.
The National Emergency Grant, announced Wednesday by U.S. Sen. Bill Nelson, an Orlando Democrat, is coming from the U.S. Department of Labor and will be administered by the state Agency for Workforce Innovation.
Counties covered by the grant include Escambia, Santa Rosa, Okaloosa, Jefferson, Franklin, Gulf, Bay, Lee, Collier and Charlotte. Florida got the second-largest haul of a total of $27 million worth of retraining money, with Louisiana getting $10 million and Mississippi and Alabama each getting $5 million.
The programs eventually will be available at AWI's one-stop career centers. However, an AWI spokeswoman said it was too early to say when the programs will be up and running.
U.S. Department of Labor spokeswoman Lina Garcia said the money will pay for rapid retraining and certification programs so that workers can launch new careers or find new jobs as quickly as possible.
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