Corporate Report

CORPORATE REPORT

by Sean Roth | Real Estate Editor

Barron Colliers, Lutgerts buy into TIB

Two of Southwest Florida's most prominent families and their businesses have become shareholders in Naples-based TIB Financial Corp. and two of their top members will join TIB's board of directors.

The investors, who are members and representatives of the Barron Gift Collier family, the Lutgert family, and their related business interests have purchased 1.2 million shares of common stock, and warrants to purchase an additional 1.2 million shares of common stock. Gross proceeds from the investment are $10.1 million. Aggregate ownership of TIB by each family group is limited to 9.9% of outstanding shares.

"This strategic alliance reflects their confidence in not only the growth opportunities of Southwest Florida, but more importantly in the continuance of the growth strategy being executed by TIB," Edward V. Lett, CEO and President of TIB Financial Corp., said in a press release.

TIB acquired The Bank of Venice in early 2007 and just recently completed the acquisition of local investment management firm, Naples Capital Advisors. To complement the Naples Capital Advisors acquisition, TIB Trust Co. has been formed, an application for trust powers has been filed with the State regulators, and a private banking initiative has been developed and implemented in the past 90 days.

A new branch office for the bank located near Southwest Florida International Airport and Florida Gulf Coast University in Fort Myers is scheduled to open later in 2008.

The third- and fourth-generation descendants of Barron Gift Collier are the owners of the Barron Collier Cos., a Naples-based company focused on developing and managing its land holdings nationwide. The company works in agriculture; commercial, retail and residential real estate development; and oil exploration and mineral management. Paul Marinelli, president and CEO of Barron Collier, will join the Board of Directors of TIB Financial Corp.

The Lutgert Cos. are a group of affiliated private companies involved in residential and commercial real estate development, residential and commercial real estate brokerage services, developer consultation services, insurance services and title services. Howard B. Gutman, president of The Lutgert Cos. will join the board of directors.

Taylor Morrison

uses AT&T network

Communications giant AT&T Inc. today announced a three-year, $1.6-million contract with Bradenton-based home builder Taylor Morrison Inc. AT&T will extend network services to Taylor Morrison's corporate and regional offices across Florida and the United States.

"Taylor Morrison had to integrate the IT assets brought together by the merger of Taylor Woodrow and Morrison Homes," Merrie Sims, director of information technology of Taylor Morrison, said in a press release. "We needed to integrate quickly, minimize disruption to our ongoing business and accomplish our network integration efficiently. In a challenging housing market, we require network services that enable our successful team of builders and sales representatives to do what they do best..."

Taylor Morrison is a wholly owned subsidiary of Taylor Wimpey plc, a home building company with operations in the United Kingdom, North America, Spain and Gibraltar.

Miva pay-click division

targets mobile viewers

Pay-per-click ad network Miva Media, a division of Fort Myers-based Miva Inc., announced U.S. and U.K. pay-per-click agreements with wireless technology company Greenlight Wireless.

The agreements will allow Miva's pay-per-click ads to be displayed to consumers accessing Greenlight Wireless' portfolio of partner sites from their mobile phones. This partner network includes national news, entertainment and network operator sites that generate more than 30 million mobile searches per month.

Additionally, Miva's pay-per-click ads will be displayed to mobile users who utilize Greenlight Wireless' Skweezer service. Skweezer is a free service that compresses and reformats web pages to make them easier to view and navigate via mobile phones and PDAs.

Miva's pay-per-click ads will be targeted using Greenlight Wireless' proprietary contextual technology and will be displayed alongside site content on users' handsets. Miva has been testing mobile ad delivery with Greenlight Wireless in the U.S. for the past six months.

"Combining the skill sets of Greenlight Wireless and Miva enable us to get around three of the fundamental issues facing mobile marketing today – diverse technology, advertiser depth, and content availability," Kevin Perkins, CEO of Greenlight Wireless, said in a press release. "The beauty of these agreements is that Miva's advertisers can now market to mobile websites without the need to plan or buy campaigns separately."

Etc...

Rib City franchise

expands in Michigan

Fort Myers barbecue restaurant franchise Rib City has opened its 12th franchise location in Troy, Mich. The restaurant located just off Interstate 75 is the Rib City franchise's second location in Michigan.

"It's exciting to expand the reach of Rib City by bringing the best barbecue in Florida to the suburbs of Detroit," President Craig Peden, said in a press release. "We've got several locations planned to open this year - one in Glenwood Springs, Colo., and another in Beaverton, Ore., with more in the pipeline."

Founded in 1989, there are currently 13 Rib City's in the state and 12 franchise locations throughout the United States, including restaurants in Washington, Utah, Colorado, Michigan and Ohio.

Von Magazine

names Teltronics tops

Sarasota communication company Teltronics Inc. received the 2008 Von Magazine Innovator Award for Hardware. Teltronics has been named to the list due to its state-of-the-art, Cerato SE communications solution, which is a VoIP phone and data system.

"The Von Magazine Innovator Awards recognize the Internet Communications industry's best and brightest companies, and we are pleased to include Teltronics as an inaugural winner," Bill Sell, publisher of VonMedia Group, said in a press release. "Companies like Teltronics should take pride in their accomplishments, because the selection committee unanimously felt as though Teltronics' Cerato SE stood apart from the large field of companies that participated in the nomination process."

Teltronics will be listed as an award winner in the March/April print edition of Von Magazine and through the von electronic newsletter which goes out to 90,000 subscribers.

Teltronics develops and manufactures hardware and software for communications networks.

Chico's FAS February

sales, comparables tumble

Fort Myers-based specialty retailer Chico's FAS, Inc. continued is tumultuous sales slide in February. The company reported that for the four-week period ended March 1, sales were down 6.7% to $105.5 million versus the $113.1 million it reported for the four-week period ended March 3, 2007. Comparable store sales for the company-owned stores decreased 14.9% for the four-week period ended March 1, 2008 compared to the same four-week period last year ending March 3, 2007.

Sunovia Energy Technologies

adds chief operating officer

Sarasota-based Sunovia Energy Technologies has hired Donna M. Webb as chief operating officer. Webb will manage and monitor all company activities and will be responsible for improving and streamlining office systems.

Webb was most recently a hub director in Forsyth County, Ga., for AVITA Community Partners, where she was responsible for the operations of a behavioral health and a developmental disabilities facility. Prior to that and during her 13-year tenure at Vocational Guidance Services in Ohio, she was the operations manager for a manufacturing operation that developed, marketed and produced novelty items, screen-printed and embroidery products that were sold nationally.

Sunovia Energy Technologies is a renewable-energy and energy-conservation company that is working to develop Cadmium Telluride solar cell technologies. Sunovia is also the owner of the proprietary EvoLucia LED lighting product line. Sunovia recently acquired an interest in Illinois-based EPIR Technologies, an infrared sensor and infrared imaging company.

Shells Seafood Restaurnts

appoints interim president

Warren R. Nelson, executive vice president and chief financial officer for Tampa-based Shells Seafood Restaurants Inc., has been appointed interim president. Leslie J. Christon, the former president and CEO, has left the company and will be pursuing other opportunities.

The company manages 23 full-service, neighborhood seafood restaurants in Florida under the name Shells.