Corporate Report

Corporate Report

corporate report by Sean Roth | Real Estate Editor

SeaBridge barge service to

link Port Manatee and Texas

SeaBridge Freight Inc. of Jacksonville will initiate its container-on-barge "marine highway" transportation service Dec. 1. between Port Manatee in Palmetto and the Port of Brownsville, Texas.

The company's 620-foot equivalent unit (TEU) capacity barge, equal to 300 truckloads of materials, will link the growing Texas/Mexico and southeastern U.S. markets.

"Our success is directly attributed to bringing the attitude and customer-focused mentality of a trucking company to our nation's marine highway," SeaBridge Freight's Chairman Mark Cleveland said in a press release. "We partner with railroads, 3PL's and intermodal motor carriers to cut costs out of shippers' supply chains."

The company's tug and barge service will encompass four trips per day between the two ports. SeaBridge Freight allows domestic and ISO containers and tanks plus flatracks, and can accommodate outsized and overweight freight.

Brown & Brown subsidiary

buys assets of Seattle insurer

A subsidiary of Tampa- and Daytona Beach-based insurance firm Brown & Brown Inc. purchased the assets of Health Insurance Exchange Inc. of Seattle.

Health Insurance Exchange, which reports annualized revenues of $1.2 million, focuses exclusively on employee benefits insurance nationwide. Bruce Curry, former principal of the company, and his staff will join Brown & Brown's existing Seattle profit center under Brown & Brown's Jeff Martins. Curry will assume the title of senior vice president and benefits manager.

"This team of talented insurance professionals will provide us with new resources and service capabilities for our employee benefits clients throughout the state of Washington," says Michael Paschke, regional executive vice president of Brown & Brown.

In other news, Brown & Brown announced plans to realign its legal department starting Jan. 1.

Vice president and corporate secretary Laurel Grammig, based in Tampa, will also serve as chief corporate counsel, focusing on corporate governance, securities, regulatory and compliance matters. Robert Lloyd, based in Daytona Beach, currently vice president, will also assume the posts of general counsel and chief legal officer.

Brown & Brown and its subsidiaries offer insurance and reinsurance products and services, as well as risk management, third-party administration, managed health care, and Medicare set-aside services and programs.

Chico's October, quarter

shows continued sales decline

Fort Myers-based specialty clothing retailer Chico's FAS Inc. reported that net sales for the four-week period that ended Nov. 1 decreased 2.2% to $118.5 million from $121.2 million reported for the four-week period that ended Nov. 3, 2007. Comparable store sales decreased 13.4% for the four-week period that ended Nov. 1, compared to the same four-week period last year that ended Nov. 3, 2007.

Net sales for the thirteen-week period that ended Nov. 1 fell 5.2% to $394.2 million from $415.9 million reported for the thirteen-week period that ended Nov. 3, 2007. Comparable store sales decreased 13.4% for the 13-week period that ended Nov. 1 compared to the same period last year that ended Nov. 3, 2007.

For the last 39 weeks, net sales declined 7.4% to $1.209 billion from $1.305 billion reported for the thirty-nine week period that ended Nov. 3, 2007. Comparable store sales decreased 15.7% for the 39-week period that ended Nov. 1 compared to the same period last year that ended Nov. 3, 2007. Chico's operates 1,083 women's specialty stores under the Chico's, White House | Black Market and Soma Intimates names.

Sunovia, Precision-Lighting

finalize $2-million LED deal

Sarasota-based Sunovia Energy Technologies Inc. finalized a $2-million agreement to provide 20,000 of its high-efficiency EvoLucia LED light engines to Precision-Lighting for use in its TMD Series floodlights.

TMD floodlights are used mainly for lighting loading docks and have been utilized by a Fortune 100 global freight logistics company.

"We are pleased to have finalized this agreement with Precision, and applaud their continued leadership in energy conservation and environmental preservation," Sunovia President and Chief Technology Officer Bob Fugerer said in a press release. "Our LED lighting solutions substantially reduce energy costs and carbon emissions, allowing companies to recover the cost of their investment very quickly."

The deal comes on the heels of Sunovia Energy's new partnership with Beacon Products, a member of the Varon Lighting Group, for the development and marketing of unique, light-emitting, diode products.

Sunovia Energy Technologies focuses on bringing to market advanced, cost-effective, cadmium telluride solar cell and infrared technologies. The light engine is one of its many EvoLucia energy-efficient lighting products.

Sunovia also owns a significant equity interest in Illinois-based EPIR Technologies Inc., which makes advanced IR sensor and IR imaging products.

Precision-Lighting, a member of the Varon Lighting Group, is an energy-efficient lighting company that serves energy service companies, lighting service companies, and energy-focused lighting and electrical distributors.

Etc...

Hurricane Glass Shield named

as authorized PGT dealer

Hurricane Glass Shield Inc., a Sarasota-based company that sells and installs sun- and storm-protection products, was recently selected by PGT to be a dealer of its hurricane-resistant glass for residential customers.

WellSpring Pharmaceutical

CFO promoted to COO

Wendy Shusko has been promoted from chief financial officer to chief operating officer of the Bradenton-based pharmaceutical manufacturer WellSpring Pharmaceutical Corp.

In her new role, Shusko will maintain her financial responsibilities while broadening her responsibilities to include company operations with an initial focus on its newly acquired consumer brands product line. She joined the company in early 2000.

"WellSpring has been successful in the relaunch of older niche prescription products," Shusko said in a press release. "We now have the opportunity to show equal success with our new niche consumer products portfolio. I am looking forward to the challenge and am pleased to be able to take part in WellSpring's continued growth."

Shusko has more than 20 years of financial and operational experience with 16 of those years in the pharmaceutical industry. From 1992 until she joined WellSpring, Shusko worked in various management and financial capacities including as director of finance and financial operations for Roberts Pharmaceutical Corp., an international pharmaceutical company.

Founded in 1999 by Dr. Robert A. Vukovich, the firm's CEO and chairman, WellSpring's prescription drug products include the diuretic Dyrenium and anti-hypertension Dibenzyline, which are marketed in the United States. The firm is also an active acquirer of pharmaceutical brands.

Unilens Vision of Largo

debuts custom toric lens

Largo-based Unilens Vision Inc., which makes and markets specialty contact lenses, has launched the C-VUE Advanced Custom Toric lenses.

The new product line will be sold directly to independent eye care professionals and features a new trial program and an advanced hydration material.

C-VUE Advanced Custom Toric is packaged with hioxifilcon D, which offers advanced hydration properties that allow it to retain 97% of its moisture for all-day comfort.

The easy-to-fit, specialty toric contact lenses are designed with made-to-order base curves, diameters, powers and cylinders.

"The launch of the C-VUE Advanced Custom Toric continues our tradition of providing outstanding specialty lens technology exclusively to licensed optical professionals," Michael Pecora, CEO of Unilens Vision Inc., said in a press release "With our revolutionary free-trial program for custom lenses, we eliminate the time and expense of returning lenses, thereby increasing profitability to the independent eye care professional as well."

Established in 1989, Unilens Vision, through its wholly owned subsidiary Unilens Corp., USA, , develops, licenses, manufactures, distributes and markets contact lenses primarily under the C-VUE brand directly to independent eye care professionals.

Cooper Notification partners

with Virginia security firm

Winchester, Va.-based Executive Protection Systems signed an agreement with Sarasota-based Cooper Notification, a platform of Cooper Industries Ltd., to be a mass notification system channel partner and offer customers the entire line of Cooper Notification's MNS services.

The deal grew out of the desire of the Executive Protection Systems' communications division to expand its product offerings.

"In order to better serve our clients, we needed a reliable solution that could notify a lot of people in real-time of exactly what to do before, during and after an emergency," Darla Frye-Guevremont, COO of Executive Protection Systems, said in a press release. "What better way to accomplish this than to partner with the leading mass notification system supplier, Cooper Notification."

Executive Protection Systems is an emergency preparedness company providing turn-key security and audiovisual products.

Cooper Notification provides notification solutions for fire, security, hazardous area, mass notification, voice evacuation and industrial signaling applications.

Global Music International

changes name, focus

Sarasota-based Global Music International Inc. has changed its name to Global Technologies Group Inc., along with the stock symbol GTGP.

"Our name change signals a change of direction of the company, which will focus on 'green' and alternative energy technologies," company president James Fallacaro said in a press release.

Global Technologies Group will now focus on acquiring exclusive licenses to proven new technologies in the environmental and green industries.

Alico declares dividend,

sets annual meeting date

Alico Inc., a Labelle-based land management company, announced a quarterly dividend of 27.5 cents per share payable to stockholders of record as of Jan. 30, with payment expected on or about Feb. 15. The board of directors also set Dec. 31 as the record date for shareholders eligible to vote at the company's annual meeting which will be held in Estero at Florida Gulf Coast University's Alico Arena on Feb. 20.

Alico owns 135,500 acres of land in Collier, Glades, Hendry, Lee and Polk counties and is involved in various agricultural operations and real estate operations.

METI's iStan

simulator appears on 'Grey's Anatomy'

iStan, an advanced patient simulator developed and manufactured by METI in Sarasota, was featured during the Nov. 6 episode of ABC-TV's popular "Grey's Anatomy" series.

The character George used the simulator to practice treating a patient with a gunshot wound during that edition of the medical drama.

iStan patient simulators both mimic symptoms and respond directly to treatment including oxygen, intravenous drugs and defibrillation - all without the aid of an instructor. The device appears to breathe, bleed, urinate, dilate its eyes, plus produce a pulse and heartbeat.

"The stress in a training session is very real," said Lou Oberndorf, president and CEO of METI. "Since iStan responds directly to the trainees' actions, students are not only learning technical skills but are exposed to the high pressure of saving a life in an emergency situation."

Odyssey Marine Exploration

finds new shipwreck sites

Tampa-based Odyssey Marine Exploration Inc. has filed admiralty arrest complaints in the U.S. District Court for the Middle District of Florida on two separate shipwreck sites recently located by the company.

Both sites are believed to be the remains of steel-hulled vessels and are in the North Atlantic Ocean, more than 300 miles from the entrance to the English Channel. Odyssey feels that there may be valuable cargo at or near both sites, but plans to investigate the identity of the shipwrecks further before contacting potential claimants.

"The operation to locate and identify these shipwrecks was undertaken with a chartered ship and some new equipment and technology that we are testing for application on future projects while the Odyssey Explorer and Ocean Alert undergo their five-year surveys and dry dock, which we expect to take several months," Greg Stemm, Odyssey's CEO, said in a press release. "We have been impressed with the performance and seaworthiness of the ship and equipment we're testing and plan to extend operations further into the winter than we have tried in the past."

Odyssey Marine Exploration conducts extensive deep-ocean search and archaeological recovery operations around the world.