Corporate Report: December 7

Court approves bid for ResCap assets from Walter Investment, Ocwen Loan Servicing
Tampa-based Walter Investment Management Corp. announced that its joint bid with Ocwen Loan Servicing LLC to buy some of the assets of Residential Capital LLC (ResCap) was approved by the U.S. Bankruptcy Court for the Southern District of New York. The transaction is expected to close in the first quarter.

Walter Investment Management agreed to acquire the Fannie Mae mortgage servicing rights portion of ResCap's servicing portfolio, which has $50.4 billion in unpaid principal balance as of Aug. 31. Walter Investment also plans to acquire related servicing advances, and origination and capital markets platforms.

The purchase still requires additional governmental approvals.

Breckenridge hires Cale America for new parking meter stations
Tampa-based Cale America Inc. has been selected by the city of Breckenridge, Colo., as the provider for the town's new parking meters. Cale's parking meters feature solar charging, back-lit displays, motion-activated night lights and a variety of payment options.

“We selected Cale in part due to the demonstrated durability of their equipment in cold weather climates and because of their 24/7 support,” Matthew Collver, community service supervisor for the town, says in a press release. “Customers can customize their purchase with daily or hourly permits based on their needs.”

DVA Inc. opens first store, new Kugler's Golo Outlet in Palm Harbor
Palm Harbor-based wholesale liquidation company DVA Inc. has opened its first retail store, a 12,000-square-foot Kugler's Golo Outlet at 31555 U.S. 19 N., Palm Harbor.

Kugler's Golo Outlet will sell a variety of wholesale, liquidation and overstock merchandise, including clothing, movies, games, books, music, electronics and housewares.

Started in 1988, DVA Inc. is a family-owned and operated wholesale and liquidation company specializing in buying and selling excess inventory, overstock and closeouts.

US China Mining Group launching stock buy-back
Tampa's US China Mining Group Inc. announced its board of directors has authorized a share repurchase plan to buy back up to 500,000 shares over the next nine months.

The company plans to fund the buy-back through its existing cash balance.

“We believe that the current price of our company severely undervalues our company and the board's decision to implement the share repurchase plan reflects its strong belief in the strength of our businesses,” Hongwen Li, US China Mining CEO, says in a press release. “Although we are facing some unprecedented challenges in our current operations, the company will continue in our long-term growth strategy through upgrading our existing mines and capitalizing potential acquisition of a mine in Guizhou.”

US China Mining Group is focused on coal mining in China.

Burger 21 franchises launching in North Carolina, Virginia, Maryland
New restaurant concept Burger 21 has signed a franchise deal to open a restaurant in Charlotte, N.C., and a multi-unit deal to develop four new restaurants throughout Fairfax County, Virginia and Montgomery County, Maryland. To date, Burger 21 has five locations open and 10 franchised restaurants in development along the East Coast.

Current franchisees of The Melting Pot, Todd Dennis and Brian Neel, plan to initially develop the Burger 21 restaurant in Charlotte, N.C. The business partners have more than two decades of franchising experience with the sister brand and operate two successful Melting Pot locations in the Charlotte area.

“As long-time Melting Pot franchisees, we feel Burger 21 is a natural growth extension...” Neel says in a press release. “We also know Charlotte inside and out and believe people will be really excited about this unique concept with its incredibly diverse menu of hand-crafted burgers and more.”

Ray Patel, Joseph Yu, Bubuhai Patel and Nick Patel, franchisees for the Dunkin' Brands, have signed on to develop four Burger 21 restaurants in the Greater Washington, D.C., area, including Alexandria, Va., Tysons Corner, Va. and Fair Lakes, Va., as well as one unit in Rockville, Md.
These new franchise agreements come as Burger 21 opens its first franchised restaurant in Orlando at 4192 Conroy Road, Suite 109 in Orlando's Shoppes at Millennia.

Since February 2012, the burger franchise has signed six agreements to develop a total of 11 franchised units in Atlanta, Orlando, Voorhees, N.J., Charlotte, N.C., and Washington, D.C., for a total of 15 franchised and company-owned units on the East Coast.

Tech Data earns perfect score on 2013 Corporate Equality Index
Clearwater-based Tech Data Corp. has earned a 100% score on the Human Rights Campaign 2013 Corporate Equality Index. The annual index scores companies based on their business practices and benefits for lesbian, gay, bisexual and transgender employees. This is the eighth consecutive year that Tech Data has received a perfect ranking.

The annual report tracks companies on 40 policies and practices. The most recent ranking looked at 889 businesses, including the entire Fortune 500.

Three PSCU credit unions offering Visa's V.me digital wallet
St. Petersburg-based credit union service organization PSCU plans to start offering access to Visa Inc.'s new digital wallet service, V.me. Initially, members of three PSCU credit unions will participate as early adopters.

Affinity Plus Federal Credit Union of St. Paul, Minn., Listerhill Credit Union of Sheffield, Ala., and Citizens Equity First Credit Union in Peoria, Ill., are participating as pilots in the program and will have their card art displayed in the V.me wallet.

Members of the three participating credit unions will be able to enroll their existing Visa and other payment card accounts, allowing them to pay online by entering a user name and password at checkout during online shopping, either on a computer or mobile device.

PSCU plans to expand the program to additional member credit unions next year.

Sarasota's Baby Quasar launches Clear Rayz treatment
Sarasota-based Baby Quasar has launched a new treatment for skin acne, called Clear Rayz. Using both red and blue therapeutic light, the Clear Rayz helps treat mild to moderately inflamed acne. The treatment reportedly has none of the side effects of acne medications or topical products and is designed for teen and adult skin.

Clear Rayz uses blue light to kill the acne bacteria on the skin, while the red light stimulates circulation, healing and reduces the inflammation commonly associated with acne breakouts.

Clear Rayz is certified as a Class II medical device. The treatment uses high spectral purity light wavelengths without UV rays or chemicals.

Restaurateur Sean Murphy completes Concession consulting
Sean Murphy, founder of the Beach Bistro and owner of a collection of Eat Here restaurants, has concluded his consulting and management dining room responsibilities at The Concession Golf Club in Lakewood Ranch.

“The Concession Bistro is in great shape and I'm leaving it in very capable hands,” Murphy says in a press release. “I'm going to miss the friendships with The Concession members and I'm grateful that Tony Jacklin will still be drinking at my bar at Beach Bistro, where it all began years ago.”