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TUESDAY, NOV. 3, 2009
WEST PALM BEACH:
Are 'Madoff Auctions' Not as Claimed?
Gavin Abadi's recent "Due to Losses Caused by Bernie Madoff" auctions in Orlando, Naples, West Palm Beach have roiled an organized group of Madoff victims who claim to have lost some or all of their life savings to the disgraced financier.
Madoff pleaded guilty in March to perhaps the biggest swindle in Wall Street history and is now serving a 150-year prison sentence.
Members of the victims' organization accuse Abadi and others conducting "Madoff auctions" of exploiting the high-profile scandal for crass commercial reasons.
[Source: Orlando Sentinel]
BROWARD COUNTY:
Schools Have Too Many Empty Seats
For years, the Broward school district continued building new schools even after student enrollment began to drop, knowing the state would soon put the brakes on the school system's construction program.
Now the district faces the politically charged problem of having to shuffle thousands of students to different schools as boundaries are realigned to balance schools with too few and too many students.
When board members meet today, they will begin to unravel how the district ended up with so much extra space that the state has ordered it to stop building schools. [Source: Miami Herald]
SANTA ROSA BEACH:
St. Joe Co. Has Plans That Will Transform the Panhandle
Building along the Florida Panhandle's picturesque seaside slowed when financing dried up and the economy soured. Fences with architects' renderings of developments hide the unfinished eyesores dotting the beaches. But the St. Joe Co.'s construction cranes and earth movers never stopped and its high-end vacation retreats and shopping centers are being built along with taxpayer-funded roads and an international airport, the nation's first since the 2001 terrorist attacks. Read on ...
[Source: AP]
Related from Trend:
TAMPA:
Investors Plan to Sue Donald Trump
A group of at least 20 disgruntled former Trump Tower Tampa buyers plans to sue Donald Trump, accusing the New York tycoon of falsifying his role in the $300-million project that went bankrupt last year.
Trump misrepresented himself as a tower investor when he was only lending his name to the project in a licensing deal with Tampa Bay developer SimDag Robel LLC, said Kenneth Turkel, a Tampa attorney hired by some of the condo buyers. [St. Petersburg Times]
ALSO AROUND FLORIDA:
› Insurers Prefer to Issue Subordinated Bonds [Ledger]
The Lakeland state senator will oppose Attorney General Bill McCollum in GOP primary.
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Lawyer's Firm Accuses Him of Plundering Accounts [Sun Sentinel]
Scott Rothstein built a legal empire on charm and savvy. Now it's imploding.
Also: Commissioner Abrams resigns from firm
› Homeowners with Defective Drywall Take the Offensive [Post]
They are lobbying legislators, dialing into their builder's conference calls with investors and even creating T-shirts to get their voices heard.
› Members to Buy Clubs from Bonita Bay Group [Naples Daily News]
On Monday, Bonita Bay Group announced an agreement in principle for members to purchase the two clubs — and their assets — for $8.25 million in cash. In the original agreement, members would have paid $8.3 million.
› Flu Fear Boosting Sales of Florida Orange Juice [St. Petersburg Times]
Analysts say retail orange-juice sales have climbed for the past six months on increased demand from the threat of flu, the approaching winter season and lower retail prices.
› South Florida Hotels' Distress Could Lure Buyers [Herald]
Troubled hotel loans could likely lead to a buying spree in the South Florida market. Buyers are waiting for the "misery to get a bit more miserable."
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Progress Tells Regulators: We'll Wait for Rate Increase [SP Times]
Progress Energy told state utility regulators Monday that it is willing to wait until the Public Service Commission decides on the company's rate increase rather than take the temporary boost in rates they are allowed to get under state law. Also: FPL customers to see a credit in their January bill
› FSU Drilling Symposium Experts Say Risk Is Low [Democrat]
Tanker collisions and coastal storage facilities susceptible to hurricane storm surges are more threatening than drilling rigs and pipelines, the experts said.
› Rubio Shows Conservative Stripes in Panhandle Swing [Herald]
For the Cuban-American, Panhandle voters can be tough: They've come across few Hispanic candidates and often view South Florida as a cesspool of incivility and corruption. Also: Crist's huge money advantage over Rubio
› Sunshine State Community Bank Must Fix Issues After Audit [News-Journal]
Dennis Brinn, CEO of the Port Orange-based bank, said Monday the bank has met all its preliminary deadlines for corrective action and is on course to meet future deadlines established by the FDIC.
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