Corporate Report

Corporate Report

SEC investigators ask

Jabil Circuit for reports

Investigators with the Securities and Exchange Commission looking into the practice of companies backdating stock options for executives contacted Jabil Circuit Inc. for data and reports related to the issue, the company said in a May 3 statement.

The St. Petersburg-based electronics maker reported in the same release that two separate panels of managers and directors completed its own review of the practice and determined that no one backdated any options for officers or executives.

The SEC is investigating the backdating practice after a Wall Street Journal report earlier this year questioned the system of how executives at several companies were able to cash in on options dated for certain days and times. Jabil was mentioned in the story.

Jabil officials said the company will cooperate with the SEC.

Radiation Therapy Services begins first operation in Los Angeles area

Fort Myers-based Radiation Therapy Services Inc., an operator of radiation therapy centers, acquired a single radiation therapy treatment facility in Santa Monica, Calif., for approximately $11 million in cash and the assumption of $900,000 in debt. With the purchase, Radiation Therapy is entering the Los Angeles market and its second market in Southern California.

The facility has an Intensity Modulated Radiation Therapy program and other technologies to treat approximately 40 patients per day. The facility generates annual revenue of about $6 million. Radiation Therapy began operating the facility on May 1.

First Advantage buys firm

to expand West Coast presence

St. Petersburg-based First Advantage Corp., a global risk mitigation firm, acquired Inquest Inc., a regional employment screening company based in Los Gatos, Calif., near San Jose. Purchase price was not released.

Founded in 1999, Inquest provides northern California employers with screening services. First Advantage plans to leverage its increased local presence to expand its penetration of the region.

Global Imaging Systems

buys Boise Office Equipment

Tampa-based Global Imaging Systems Inc. acquired Boise Office Equipment Inc., headquartered in Boise with an additional sales office in Twin Falls, Idaho. The purchase price was not released. Boise Office Equipment, with annual revenue of about $13.5 million, will operate as a part of Seattle-based Northwest Group, a Global Imaging core company serving markets in Washington, Oregon and Idaho.

Florikan makes film on

fertilizer and Red Tide

Florikan ESA, a Sarasota-based manufacturer of environmentally friendly horticulture products, commissioned local film company Second Thought Productions to produce a documentary film titled, "The Tide from Red to Blue." The film will focus on urea nitrogen and phosphate run-off from excess lawn fertilization and how it contributes to Red Tide. The film will discuss the amount of fertilizer now being used in Sarasota County, and show how the cycle of urea nitrogen and phosphate run-off coupled with rainfall affects Red Tide. The film company is seeking individuals, organizations and businesses to participate in the production.

McNichols moves

headquarters after 28 years

McNichols Co., a metal products supplier, is relocating its corporate headquarters to The Pointe on Tampa Bay at Rocky Point. The new address is 2502 North Rocky Pointe Drive, Suite 950.  The company's home office was in Tampa's Westshore business district since 1978.

The new facility has 35,000 square feet of leased space on the 7th and 9th floors of the waterfront office building, which allows the company to consolidate administrative offices, accommodate future growth and integrate its products into the interior design.

Channelside gets a new

10-year, $27 million loan

New York-based Ashkenazy Acquisitions Corp., owner of Channelside Shops in Tampa, refinanced a $27 million note on the 230,627-square-foot property. The new mortgage is for 10 years. The Miami office of Holliday Fenoglio Fowler LP was the broker for Ashkenazy, placing the adjustable-to-fixed-rate loan with Anglo Irish Bank.

Hillsborough, Pinellas counties

may get slot machine alternative

A Minnesota game company has developd skill-based slot machines it says will pass Florida law. Spectre Gaming Inc. installed test games in Broward and Palm Beach counties and is looking to introduce the machines to Hillsborough and Pinellas counties.

Florida law allows amusement with prize or redemption games to be distributed and played throughout the state as long as the games meet certain requirements and are operated in certain venues, according to Spectre Gaming. One requirement is that the game must be a game of skill, but the law does not define what that skill is. Spectre is looking to install the machines in arcades and bingo halls as primary venues.

COST OF LIVING

Bradenton ranked among lowest in cost of living index

The Council for Community and Economic Research, an Arlington, Va.-based organization, recently released its data on the average cost of living for cities across the United States. The Bradenton area was among the lowest when compared to some larger, national metro areas.

The council's cost of living index for Bradenton for the fourth quarter of 2005 was 98.5, the third to the lowest in a comparison of 10 national markets. The index for housing in the Bradenton area was 100.9.

The index is made up of a variety of factors, including the differences in a specific house that has four bedrooms, two bathrooms and 2,400 square feet on an 8,000-square-foot lot and is new construction; the information is not based on an average price of a house in Manatee County. Other factors are average health care costs and the price of utilities.

Overall, New York City ranked the highest with an index of 204.3 and Charlotte, N.C., had the lowest rating, at 92.4.

Composite

City Index Groceries Housing Utilities Health Care 1. New York City 204.3 139.6 375.4 139.6 128.0

2. Los Angeles 159.0 136.6 266.1 108.8 118.9

3. Philadelphia 123.9 121.5 144.6 111.4 114.9

4. Chicago 117.4 119.0 133.5 110.9 108.2

5. Grand Rapids 101.8 107.7 87.5 128.3 98.6

6. Denver 100.6 104.5 101.8 91.6 109.1

7. Cleveland, Ohio 99.2 107.2 93.3 115.4 101.0

8. Bradenton 98.5 100.5 100.9 96.5 102.0

9. Atlanta 97.4 94.9 94.3 87.3 100.4

10. Charlotte, N.C. 92.4 101.8 77.7 74.8 108.0

OFFICE OPENINGS

? Wagner Realty opened a new West Bradenton branch office at 7411 Manatee Ave. W.

? Community Bank of Manatee opened its newly renovated facility at 7202 Manatee Ave. W.

? Verizon Wireless opened a 3,000-square-foot retail location in New Tampa at 17501 Preserve Walk Lane.  

? The Peter Paul Gallery relocated to 47 S. Palm Ave., Suite 210, Sarasota.