Corporate Report

Corporate Report

by Sean Roth | Real Estate Editor

Jim Walter joins gas-reductions group

Tampa-based Walter Industries Inc. says that its wholly-owned subsidiary, Jim Walter Resources Inc., has joined the Chicago Climate Exchange, North America's only voluntary and legally binding greenhouse emissions reduction, registry and trading program. By becoming a member of CCX, Jim Walter Resources committed to reducing greenhouse gas emissions through its extensive methane drainage operation.

"Jim Walter Resources has been an innovator in the capture and sale of methane gas in Alabama's Black Warrior Basin," George Richmond, chief executive officer of Jim Walter Resources, said in a press release. "We are turning methane gas into an energy source instead of allowing it to escape into the atmosphere. We are pleased to become a member of the Chicago Climate Exchange as we exercise our responsibility toward our global green initiatives."

Walter Industries Inc., a company with revenues of about $1.3 billion, is a producer and exporter of metallurgical coal for the global steel industry and also produces steam coal, coal bed methane gas, furnace and foundry coke and other coal-based products. The company also operates a mortgage financing and affordable homebuilding unit and employs approximately 2,800 people.

World Energy Solutions, Rajax trading lawsuits

St. Petersburg-based energy-saving technology service company World Energy Solutions Inc. has filed a lawsuit in Pinellas County (World Energy Solutions, Inc. v. David Weintraub, et al., No. 06-8968- CI-20) against a Florida corporation and several individuals to recover damages and 4,794,551 shares of company's common stock issued in connection with consulting agreements and other promises.

The company is charging Rajax Inc., its principals, Rachel Steele and Daniel Witherspoon, III, as well as David Weintraub, Timothy Daley and Leslie Sands with various claims including fraud, conspiracy to defraud and breach of contract.

As part of the litigation, World Energy Solutions has issued stop transfer instructions to its stock transfer agent regarding all of the shares.

On March 1, Rachel Steele filed a civil action against World Energy Solutions for an injunction to allow her to sell certain quantities of the shares. That litigation for a temporary injunction has since been consolidated with the litigation filed against her by World Energy Solutions.

Source Interlink reaches deal with Thomas Nelson

NCircle Entertainment, a division of Alliance Entertainment Corporation (AEC), a leading provider of logistics and distribution services to retailers of home entertainment content products including DVDs, CDs and related merchandise and a subsidiary of Bonita Springs-based Source Interlink Companies Inc., has entered into an exclusive three-year DVD and digital format distribution deal with Thomas Nelson, one of the world's largest Christian content providers.

Based on the agreement, NCircle is granted the general market rights to the popular Hermie & Friends educational series by best-selling author Max Lucado, including all eight current titles and future titles for the United States and Canada.

"The acquisition of the engaging Hermie & Friends content is a valuable addition to our growing library of quality children-oriented entertainment," Debbie Ries, senior vice president and general manager for NCircle said in a press release announcing the deal.

Thomas Nelson officials reported that the partnership would expose Hermie & Friends to a much wider home entertainment marketplace. Max Lucado's Hermie & Friends series has garnered DVD sales of more than two million units since its introduction in 2003.

Seven of the eight Hermie & Friends titles have reached the No. 1 position on the Top Children's Video Charts for the CBA market as measured by Nielson SoundScan. Additionally, the series produced the No. 1 selling Christian market video for two consecutive years, 2005 and 2006.

"Hermie: A Common Caterpillar" and "Milo the Mantis Who Wouldn't Pray," the first releases from NCircle are scheduled for retail release this August.

Radiation Therapy Services buys second Arizona facility

Radiation Therapy Services Inc., a Fort Myers-based radiation therapy center operator, acquired a single radiation therapy center in Casa Grande, Ariz., operated by Desert Rose Oncology LLC, for about $8 million. The acquisition is designed to build on Radiation Therapy's presence in the central Arizona market, which the company entered in June of 2005 with the acquisition of a facility in Scottsdale, Ariz.

The facility currently has an Intensity Modulated Radiation Therapy program and treats about 25 patients per day. The practice generates annual global revenues of $3.5 million. The facility also has room for future linear accelerator expansion. The acquisition was financed by the company's existing revolving credit lines, and Radiation Therapy Services didn't assume any debt.

"With the addition of this second practice, we will treat more than 60 patients per day in this market and have the ability to increase capacity to meet growing demand," Dr. Daniel Dosoretz, president and CEO said in a press release. "This transaction represents continued progress on our acquisition growth strategy targeting high growth markets. We look forward to broadening the treatment options for patients in the Central Arizona market."

Radiation Therapy Services Inc., which operates treatment centers primarily under the name 21st Century Oncology, handles 77 treatment centers clustered into 25 markets in 16 states.

Mangrove Software buys BenefitOne of America

Tampa-based Mangrove Software, a provider of web-based human resource, payroll and self-service products, acquired BenefitOne of America, a St. Petersburg full-service employee benefits and administration company.

BenefitOne provides full service COBRA administration, HIPAA certification, flexible spending accounts, debit card administration, retiree billing, and leave of absence administration. 

"This acquisition signals a strong step forward for our company and broadens the products and services we can offer to every one of our current, valued relationships," Richard Cangemi, co-owner of Mangrove Software said in a press release.

BenefitOne of America, now operating as Mangrove Benefit Services Inc., has added 30 employees to the Mangrove workforce and has transferred all customer contracts under the new entity.

Etc...

New manager for AT&T wireless

AT&T Inc. has appointed Wendy Kropenick to senior manager of wireless Network Operations for the company's North, Central and West Florida regions. Kropenick is responsible for implementing and maintaining core components of the wireless network to ensure quality performance.

Kropenick has more than 20 years of experience in wireless system engineering and telecommunications management and most recently managed AT&T's wireless network operations in Puerto Rico. AT&T, the largest wireless carrier in the United States, invested $242 million in its North, Central and West Florida wireless network last year upgrading and expanding service, including the launch of its Third Generation mobile broadband network. 

ISO Translations introduces software

ISO Translations, a Bradenton-based translation service company, has launched new software for project management to provide virtual office clients a live connection to the company's translators.

Called Tranwise Client, the software allows clients access to their projects, project files and enables them to request a quote for translation projects in real time. The program is designed to allow companies to do more and larger projects more efficiently and with a faster turnaround.

Clients also always have access to all the translation project files, invoices, comments, special instruction and more. Tranwise Client can be downloaded for free from http://www.isotranslations.com/TranwiseClientSetup.zip. 

Kerkering, Barberio celebrates 35th

Sarasota-based Kerkering, Barberio & Co., P.A., Certified Public Accountants, is celebrating 35 years in business in Sarasota and Manatee counties. The firm handles tax and accounting services, audits, business valuation, employee retirement planning, estate and trust planning, financial planning, financial advisory services, healthcare advisory services, litigation support services, real estate support services and technology.

Amacore Group hires Porter, LeVay & Rose

The Amacore Group Inc., a Tampa developer and marketer of discount healthcare services, has retained Porter, LeVay & Rose as its investor relations and financial communications agency. Porter, LeVay & Rose is a full-service investor relations firm based in New York City with experience in the heath-care industry.

LeisureWorks buys Jan-Mar Trophy

Sarasota-based LeisureWorks Inc. has acquired a 49% interest in the New Rochelle, N.Y., trophy and embroidering company Jan-Mar Trophy Co. Inc. Jan-Mar Trophy specializes in engraving and embroidering. 

"We believe that this acquisition will be the first step in what we believe to be a very lucrative and growing market," Lawrence Sherman, LeisureWorks president said in a press release. "We will continue to pursue other acquisitions and partnerships that we believe will allow us to grow in this arena."

Partners buy three Atlanta Bread Co. locations

Moe Jafari Wishkaei, Ghyslain Lefebvre and Ted Steiner have assumed ownership of three Atlanta Bread Company Bakery Cafes in the Tampa Bay area. The restaurants are located at 12867 Citrus Park Drive and 179 1st Ave. N. in St. Petersburg and 30200 U.S. 19 N. in Clearwater. Lefebvre, Steiner and Jafari Wishkaei all have a strong background in the restaurant industry, working together for the Denny's concept. The partners renovated the Citrus Park and Clearwater locations and were scheduled to open them this past Monday, March 5th. All three locations will feature free Wi-Fi access. 

Electronic Data Inc. wins MRO Award

Electronic Data Inc., a St. Petersburg-based operational and maintenance performance services provider, has been awarded the 2006 Special Partner Award from MRO Software, an IBM company and the leading provider of asset management solutions.

"Our efforts to extend the Maximo platform and address a wide variety of airport needs have driven EDI and IBM's Maximo solution into a very strong market position within the airport space," Joe Mahaz, president and CEO of EDI said in a press release. EDI works with organizations to increase operational and maintenance performance through improved maintenance processes, practices and technology.  

Bookworld Cos. adds eight new publishers

So far in 2007, eight publishers have appointed Sarasota-based book distributor Bookworld Cos. as their sales and distribution arm. The eight publishers signed for full distribution services are: IJN Publishing Inc., INTI Publishing Inc., Spiritual Quest, Bouncing Ball Books Inc., Indigo Reef Publishing, Teora USA LLC, Eye of Gaza Press and Books in Motion.

Actsoft, USA Mobility partner for sales

USA Mobility Inc., a wireless messaging and communications service provider, and Actsoft Inc., a Tampa-based mobile management and wireless GPS location tracking software company, have announced a sales and marketing agreement in which both companies will leverage each other's complementary technologies.

Under the terms of the deal, USA Mobility will join Actsoft's Authorized Agent Program, and the companies' respective sales organizations will provide sales leads and recommendations.

Signs Now appoints new M&A manager

Signs Now, a Sarasota-based division of Allegra Network LLC, recently named John Argeros its mergers and acquisitions manager. Argeros will be responsible for creating and managing new initiatives designed to help existing Signs Now franchise owners acquire independent sign businesses in their local markets.  He will also assist new franchisees with the acquisition of the independent business for conversions into Signs Now centers.

Argeros was a loan officer for First Union National Banks and worked for about 16 years in the consumer package goods industry as a senior account executive. Throughout his career, Argeros represented many fortune 500 companies.

Hamilton Realty hires Nuevo Advertising

The Sarasota-based Hispanic focused advertising company Nuevo Advertising Group has been retained by Hamilton Realty Inc. of Coral Gables to handle the Spanish-language radio and television commercial media buying, and development and production of the spots, for two of the company's properties: The Falls at New Tampa in Temple Terrace and Grand Pavilion in Tampa.

Gettel Hyundai joins Hyundai Board of Excellence

Gettel Hyundai in Sarasota has been named to the Hyundai Board of Excellence, a national network of the top auto dealers, by Hyundai Motor America. For 2006, only the top 10% of Hyundai dealerships nationwide earned the privileged designation. "As one of Hyundai's best-performing dealerships in the U.S., Gettel Hyundai has helped play a key role in our continued success in this market," David Zuchowski, Vice President Sales, Hyundai Motor America said in a press release.

Gettel Hyundia is just one of a chain of dealerships owned by Sarasota-based Gettel Automotive, which reported revenue of $355 million last year.

SendTec, Home Depot deal canceled

The Home Depot has terminated its agreement with St. Petersburg-based direct marketing services firm SendTec Inc. to provide and facilitate third party advertising on HomeDepot.com. HomeDepot.com was previously organized under Home Depot Direct, which was reorganized and absorbed into The Home Depot's merchandising group earlier this year.

"While this relationship with HomeDepot.com did not represent a material portion of our overall revenue in the past twelve months, we are nonetheless disappointed in their decision to terminate the project," Eric Obeck, president of SendTec, said in a press release.

Partners Bank appoints new CEO

Partners Bank announced the appointment of Michael Surgen as interim president and CEO and Robert Van Horn as interim chief lending officer of the bank.

Both appointments will become permanent once they are approved by the Office of the Thrift Supervision.

Surgen and Van Horn have several years of professional banking experience. Surgen formerly served as president and CEO of Pelican National Bank, now known as First American Bank. Van Horn was senior vice president of Pelican National Bank. Most recently, the two men have managed a commercial loan product business.

Partners Bank also announced that Donald J. York, acting president and CEO, will be staying through a transition period, then will leave the bank to pursue other interests.

Founded in 2005, Partners Bank has more than $61 million in total assets and two full-service banking centers serving Collier County.

Broad and Cassel brings in two attorneys

The Tampa office of the law firm of Broad and Cassel, has added Gregory E. Matton to the corporate securities practice group and Daniel A. Nicholas, joins the labor and employment, commercial litigation, and construction law and litigation practice groups.

Most recently, Matton focused his practice on mergers and acquisitions and assisted management and shareholders in structuring and carrying out asset and stock purchases as well as mergers.

He has also worked in the political arena. During his time on Capitol Hill, Matton served as senior advisor to members of congress and was appointed to the President's White House Health Care Reform Task Force during the Clinton administration.

Later Matton went on to serve as a senior policy analyst in the Office of the Secretary of Defense advising on the Department's transition into a managed care health care delivery system.

Nicholas has nearly 20 years of experience, most recently handling multi-million dollar commercial and construction defect litigation for owners, contractors and design professionals in all judicial, administrative and arbitration forums.

Animal Replacement recognized for innovation

Under Secretary of Commerce for Technology Robert Cresanti presented a "Recognition of Excellence in Innovation" certificate to Sarasota-based Animal Replacement Technologies. The certificate recognizes local and regional innovators throughout the nation who have introduced a new product or service into the market during the last 12 months, have utilized new manufacturing processes, or have received a patent.

Animal Replacement Technologies develops synthetic body parts that mimic the structural, chemical and mechanical properties of living tissue. Models are designed for use by medical device manufacturers in design development, by physicians in surgical training and by military manufacturers in ballistics testing.

McGinnis named TBBA Builder of the year

Teri McGinnis, marketing director for Naperville, Ill.-based Crown Community Development, has been selected as the 2007 builder of the year by the Tampa Bay Builders Association.

McGinnis has been involved in the association for more than 15 years, serving as 2006 president of the 1,800-member association, the second largest building-trades organization in Florida.

During her decades of service, McGinnis chaired the association's annual Parade of Homes and every subcommittee within the parade. 

She was president of TBBA's sales and marketing council in 2003 and was the SMC member of the year in 2001. Moreover, McGinnis has chaired or served on most SMC committees.

Elected as the 2007 Area 5 vice president of the Florida Home Builders Association, McGinnis also has served on boards of directors of the FHBA and the National Association of Home Builders.

In her career, McGinnis has successfully marketed many new communities throughout the region, including Seven Oaks and Watergrass, both in Pasco County.

Coldwell Banker president wins company award

Budge Huskey, president and COO of Florida's largest real estate company, Sarasota's Coldwell Banker Residential Real Estate, was recently awarded the Coldwell Banker Chandler Barton Spirit Award at its International Business Conference in Las Vegas.

This coveted annual award is presented to the sales associate, manager, broker or employee who exemplifies the legendary "Can Do" attitude of former Coldwell Banker President Chandler Barton. The award recognizes strong leadership, vision and a highly effective management.

Huskey, a real estate professional for more than 20 years, was nominated by his peers and selected from more than 126,000 sales associates and employees internationally.