Wed, 10 Mar 2010 01:00 EST

Jackson Health System is close to insolvency and facing the specter of having one of its major vendors, Johnson & Johnson, shut off supplies unless the company receives a $1 million payment this week.

Wed, 10 Mar 2010 01:00 EST

Burger King on Tuesday blamed winter storms and cold weather for a dramatic drop in sales for January and February.<p/> The Miami fast-food chain said January and February same-store sales in the United States and Canada were down 8.2 percent. Same-store sales are considered the best measure of a chain's health. Worldwide same-store sales were down 5.4 percent.

Wed, 10 Mar 2010 01:00 EST

Doug Brooks, president of the International Peace Operations Association, was in Turkey recently, working on an event on Afghanistan reconstruction, when an idea struck: Why not organize a conference on rebuilding Haiti in the wake of the devastating earthquake?

Wed, 10 Mar 2010 01:00 EST

When the financial markets were soaring, Paul Tanner would leave his office at Lehman Brothers after a long day and head to Capital Grille on Brickell Avenue to entertain a client over juicy prime rib and a martini or two. Then came the recession. As business slowed, Tanner looked in the mirror and saw an overweight man whose wealth had declined and whose gut had enlarged.

Wed, 10 Mar 2010 01:00 EST

Job openings rose sharply earlier this year, a sign that employers might be preparing to step up hiring.<p/> The number of openings in January rose about 7.6 percent, to 2.7 million, compared with December, the Labor Department said. And the job openings rate climbed to 2.1 percent, the highest in nearly a year. That rate measures available jobs as a percentage of total employment.

Wed, 10 Mar 2010 09:13 EST

Broward County government is taking on Big Banking.<p/> Bank of America lost out on a role in financing a new courthouse in downtown Fort Lauderdale after county commissioners complained Tuesday that the megabank had failed to help people with troubled mortgages and had unfairly jacked up credit-card fees.

Wed, 10 Mar 2010 01:00 EST

Last summer, there was a premature announcement of the presence of a tiny beetle that has the power to spread fungus that can severely damage avocado trees. That turned out to be an unfortunate mistake, triggering some growers to cut down and burn trees and apply pesticide.

Wed, 10 Mar 2010 01:00 EST

Generic drugmaker Teva Pharmaceutical Industries said Tuesday it has appointed Vice Chairman Dr. Phillip Frost to serve as chairman of its board.<p/> The world's largest generic drugmaker by revenue said Frost, a Miami physician-entrepreneur, will replace Moshe Many, who had been serving as interim chairman and will now serve as vice chairman.

Wed, 10 Mar 2010 01:00 EST

The millionaires' club in the United States grew by 16 percent in 2009, following a 27 percent decline in 2008.<p/> Families with a net worth of at least $1 million, excluding primary residences, rose to 7.8 million in 2009, an increase from 6.7 million a year earlier, according to a survey of high-net-worth U.S. households conducted by Spectrem Group.

Wed, 10 Mar 2010 01:00 EST

How can downtown Miami's intermittent revival be extended and sustained? Find out from some of the country's leading urban revivalists Thursday, when the Greater Miami Chamber of Commerce hosts a public forum on the question.

Wed, 10 Mar 2010 01:00 EST

This week, AT&T has activated a new cell site on East 25th Street in Hialeah as part of its lastest investment to its Florida network. It will boost coverage to Hialeah Hospital and the surrounding area, and it's the second AT&T cell site turned on in South Florida this year, according to AT&T spokeswoman Kelly Starling.

Wed, 10 Mar 2010 01:00 EST

Lawyers will be on hand to answer questions at a free forum on the housing crisis Saturday at Florida International University.<p/> The Florida attorney general's office and the Florida InterAgency Mortgage Task Force are hosting the forum from 10 a.m. to 2 p.m. at the MARC Building, 11200 SW Eighth St., Miami.

Tue, 09 Mar 2010 01:00 EST

When the Public Health Trust meets Tuesday to consider $165.4 million in budget cuts, one of the toughest debates is likely to be over the proposed closing of Jackson South, the suburban facility on which the system has pinned its hopes for the past six years.

Tue, 09 Mar 2010 01:00 EST

A move by General Motors Co. to reinstate 661 dealerships slated for closing may not have a major impact on South Florida since many local dealers were safe to begin with and others decided not to appeal the carmaker's 2009 decision to downsize.

Tue, 09 Mar 2010 01:00 EST

Michael Keigans is ``underwater'' on his mortgage, owing $80,000 more than his Deerfield Beach house is worth.<p/> Keigans figures it could take a decade or two to recover the lost equity, so he's tempted to walk away, even though he has the money to pay. ``Why keep putting money into a house that's going down in value?'' he asks.

Wed, 10 Mar 2010 16:00 EST

A voracious moth has prompted an aggressive quarantine across Napa Valley wine country.

Wed, 10 Mar 2010 15:55 EST

Oil settled above $82 on Wednesday after rising as high as $83. Prices got a bump in morning trading following the government's weekly crude inventory report, which showed a smaller increase in supplies than expected. Prices also got some support from OPEC raising its outlook for world oil demand.

Wed, 10 Mar 2010 15:45 EST

The Maine Labor Department says unemployment in Maine rose in January to 8.2 percent.

Wed, 10 Mar 2010 15:40 EST

CORN: For the second time in three months, the USDA's latest crop report surprised analysts. Supply rose unexpected by 80 million bushels. Analysts were expecting a slight drop.

Wed, 10 Mar 2010 15:40 EST

Colorado's unemployment rate rose 0.1 percentage point in January to 7.4 percent, the state Department of Labor and Employment said Wednesday.

Wed, 10 Mar 2010 15:35 EST

Shares of medical device maker Kinetic Concepts rose Wednesday after a jury ruled that rival Smith & Nephew infringed patents licensed to the company.

Wed, 10 Mar 2010 15:35 EST

Corn and wheat prices retreated Wednesday after the U.S. Department of Agriculture's monthly crop report showed plenty of supply for the two grains.

Wed, 10 Mar 2010 15:30 EST

New federal labor data show that California's unemployment rate remains the fifth highest in the nation.

Wed, 10 Mar 2010 15:30 EST

Miller Industries Inc. said Wednesday that Theodore Ashford III was elected to the company's board of directors.

Wed, 10 Mar 2010 15:30 EST

Rockwell Medical Technologies Inc., which makes products used in the treatment of kidney disease and anemia, reported a smaller fourth-quarter loss Wednesday as its sales grew and expenses came down.

Wed, 10 Mar 2010 08:17 EST

A delegation of Chinese tour operators arrive in Miami this week for some hotel shopping.<p/> The group of wholesalers from Beijing and Shanghai will tour the Everglades, inspect the Four Seasons and other top hotels, and generally hunt for the best vacation options they can sell travelers back home in the increasingly mobile nation. Tourism agencies, Continental Airlines and other local travel companies are sponsoring the trip.

Wed, 10 Mar 2010 01:00 EST

Doug Brooks, president of the International Peace Operations Association, was in Turkey recently, working on an event on Afghanistan reconstruction, when an idea struck: Why not organize a conference on rebuilding Haiti in the wake of the devastating earthquake?

Mon, 08 Mar 2010 01:00 EST

Standing in one of Arrow Cargo's huge warehouses at Miami International Airport, Rodrigo Canola, the freight airline's export manager, pointed to stacks of electronic equipment from China and Korea, each separated according to their destinations in Latin America and the Caribbean.

Sat, 06 Mar 2010 15:02 EST

The earthquake caused substantial damage in Chile's wine region: Stainless steel fermentation tanks tipped over, wine bottles busted and wineries without power.

Sat, 06 Mar 2010 01:00 EST

German Chancellor Angela Merkel avoided giving debt-plagued Greece a commitment of financial assistance Friday, as Athens was rattled by more strikes and violent protests by unions outraged by harsh economic austerity measures.

Fri, 05 Mar 2010 01:00 EST

A.P. Moeller-Maersk A/S, owner of the world's largest container-shipping line, reported its first annual loss in at least six decades and said it will be limited to a ``modest'' profit in 2010 because of inadequate price increases.

Thu, 04 Mar 2010 14:17 EST

A Royal Caribbean International cruise ship was placed under quarantine in southeastern Brazil after hundreds of passengers were stricken with vomiting and diarrhea, health authorities said Thursday

Thu, 04 Mar 2010 11:57 EST

Spirit Airlines this week resumed flights from Fort Lauderdale into Port-au-Prince as the rattled airport returns to normal. The announcement came with an apparent dig at rivals from CEO Ben Baldanza: ``Often times, people use disasters to take advantage of other's misfortune and profit through exploitation,'' Baldanza wrote. ``We are happy to continue offering the ultra low fares that our friends and families in Haiti have come to know and love.''

Thu, 04 Mar 2010 01:00 EST

A years-long battle over a famous Cuban brand -- Havana Club rum -- resurfaced on Capitol Hill on Wednesday as liquor giants Bacardi and Pernod Ricard tussled over an obscure -- but potentially lucrative -- provision in federal law.

Thu, 04 Mar 2010 01:00 EST

The tsunami that hit this coastal city sent 50-ton fishing boats crashing onto land and demolished its port -- wiping out the $40 million in business that courses through the local economy from the annual anchovy and sardine catch.

Thu, 04 Mar 2010 01:00 EST

The U.S. Agency for International Development awarded a $3.5 million contract to PHS Group, a Silver Spring, Md., engineering firm, for cleanup work in Haiti, the first earthquake-related contract to go to a Haitian American.

Wed, 10 Mar 2010 16:00 EST

Last week, Sarah Killen had three Twitter followers.

Wed, 10 Mar 2010 15:00 EST

A court in Azerbaijan has rejected the appeal of two bloggers who were sentenced to prison last year in a case that supporters say was politically motivated.

Wed, 10 Mar 2010 14:10 EST

A global Internet oversight agency is reopening discussions about whether to create a ".xxx" domain name as an online red-light district where porn sites can set up shop away from the wandering eyes of children and teenagers.

Wed, 10 Mar 2010 13:40 EST

In an industry first, a new gaming service will start allowing people to "stream" popular high-end games such as "Assassin's Creed II" over the Internet in June, using a mechanism similar to watching TV shows or listening to music online.

Wed, 10 Mar 2010 13:20 EST

During the 1990s, the Square brand was synonymous with the role-playing video game. A generation of gamers got hooked on the challenging quests, quirky characters and sweeping story lines of Square RPGs like "Chrono Trigger," "The Secret of Mana" and, of course, the "Final Fantasy" series.

Wed, 10 Mar 2010 13:05 EST

Like the United States, China is having its own tea party movement, but this one has a very different agenda.

Wed, 10 Mar 2010 12:50 EST

Global market share for TV manufacturers in the fourth quarter of 2009, according to DisplaySearch, part of the NPD Group:

Wed, 10 Mar 2010 12:50 EST

Cable, satellite TV and other video providers have asked the government to intervene in ongoing fee disputes with TV networks - big-money fights that are expected to escalate this year as more contracts expire.

Wed, 10 Mar 2010 11:49 EST

Panasonic Corp. on Wednesday revealed the price for its first 3-D TV set, confirming that $3,000 is about what it takes to be among the first to watch 3-D movies in the home.

Wed, 10 Mar 2010 10:49 EST

Google said Wednesday it will scan up to 1 million old books in national libraries in Rome and Florence, including works by astronomer Galileo Galilei, in what's being described as the first deal of its kind.

Wed, 10 Mar 2010 10:09 EST

In a story March 2 about the arrest of three suspects in the virus infection of nearly 13 million computers, The Associated Press erroneously reported the spelling of the last name of a captain with Spain's Guardia Civil, which is investigating the case. The captain's correct name is Cesar Lorenzana, not Lorenza.

Wed, 07 Oct 2009 14:46 EDT

An apparent bottom in the Miami-Dade hotel market gave way in August, when tourist taxes plunged 20 percent -- making it the third worst month for the industry since the financial crisis began a year ago.<p/> An apparent bottom in the Miami-Dade hotel market gave way in August, when tourist taxes plunged 20 percent -- making it the third worst month for the industry since the financial crisis began a year ago.

Wed, 10 Mar 2010 11:07 EST

San Francisco-based Visa will hire 350 people for a new customer service center opening in Miami this summer, according to a news release from the Beacon Council, Miami-Dade's economic development agency. The center will be located in the same building as Visa's Latin America and Caribbean headquarters, in the Blue Lagoon area near Miami International Airport.

Wed, 10 Mar 2010 12:42 EST

Bank of America customers will soon be unable to spend more than they have in the accounts linked to their debit cards. It's a step that may become a common move ahead of new regulations limiting overdraft fees.

Wed, 10 Mar 2010 13:47 EST

Florida's unemployment rate was 11.9 percent in January, up slightly from a month earlier, the state labor department announced Wednesday. That ties the May 1975 rate, the highest rate ever recorded.

Wed, 10 Mar 2010 08:17 EST

A delegation of Chinese tour operators arrive in Miami this week for some hotel shopping.<p/> The group of wholesalers from Beijing and Shanghai will tour the Everglades, inspect the Four Seasons and other top hotels, and generally hunt for the best vacation options they can sell travelers back home in the increasingly mobile nation. Tourism agencies, Continental Airlines and other local travel companies are sponsoring the trip.

Wed, 10 Mar 2010 09:12 EST

Florida and 34 other states will split $11 million to give to consumers courtesy of identity theft company LifeLock, a deal reached Tuesday that settles allegations that the company's advertising was misleading.

Wed, 10 Mar 2010 13:57 EST

Walt Disney Co., the world's biggest theme-park operator, will begin selling tickets that will be valid at all the company's U.S. parks.<p/> The ``premiere passport'' will go on sale Thursday and provides access to all U.S. parks with no blackout dates, Chief Executive Officer Robert Iger said Wednesday at Disney's annual shareholder meeting in San Antonio, Texas. The price will be $700 and will cover the Florida and California locations.

Wed, 10 Mar 2010 01:00 EST

New credit card rules are geared to protect consumers. To find out, visit: www.federalreserve.gov/consumerinfo/wyntk_creditcardrules.htm.

Wed, 10 Mar 2010 01:00 EST

The IRS wants parents to be aware of the tax rules that affect their children's investment income. Here are tips to determine if a child's investment income will be taxed at the parents' rate or the child's rate.

Thu, 11 Mar 2010 13:00:00 GMT

At first glance, the 40 or so men and women sitting in school desks Monday at Miami International Airport customer service training seemed anything but uniform.

Thu, 11 Mar 2010 13:00:00 GMT

More than two years after soliciting financial institutions, Miami-Dade commissioners last week approved banks to handle county and clerk of courts accounts, but not without some contention.

Thu, 11 Mar 2010 13:00:00 GMT

South Dade residents and visitors can look forward to the long-awaited opening of their very own cultural center one year from now – a "firm" date after years of waiting.

Thu, 11 Mar 2010 13:00:00 GMT

The part-time Miamian now sitting atop the US Export-Import Bank says though the bank did $21 billion in trade financing last year, no deal is too small to consider.

Thu, 11 Mar 2010 13:00:00 GMT

Although office tenants are still looking for ways to decrease their space needs, good deals from landlords are keeping the inventory of sublease opportunities from skyrocketing, brokers say.

Thu, 11 Mar 2010 13:00:00 GMT

Miami's Gusman Center for the Performing Arts can be "a center for downtown," but a little soul-searching is in order before a game plan can be devised, say local arts and culture experts.

Thu, 11 Mar 2010 13:00:00 GMT

Limited supply of apartment buildings and more attractive financing available indicate a coming uptick in sales in the multi-housing market, a new report says.

Tue, 09 Mar 2010 04:10:13 GMT

General Growth Properties (NYSE:GGP) announced that a joint venture between Pershing Square Capital Management and Fairholme Capital Management said they would commit $3.925 billion of new equity capital, at a value of $15.00 per share, to facilitate...

Mon, 08 Mar 2010 11:44:13 GMT

In this week's edition of In The Pipeline, Forest City's Atlantic Yards mixed-use project is scheduled to finally break ground this week. Meanwhile, another long delayed development project, the Guasti Historic District in Ontario, CA,has begun with...

Mon, 08 Mar 2010 10:10:56 GMT

UBS is extending its stay at One North Wacker Drive in Chicago, also known as the UBS Tower. The Swiss financial services firm has renewed for 400,000 square feet in the office tower, a total of 13 floors. The 10-year lease, set to commence in 2012...

Mon, 08 Mar 2010 05:32:35 GMT

Faced with a probable $238 billion shortfall over the next 10 years, the United States Postal Service has outlined a new plan to cut costs and return the agency to long-term profitability. The Postal Service's new plan outlined several additional...

Mon, 08 Mar 2010 02:06:39 GMT

This week in the Retail Roundup, CoStar reports on expansions or new concepts at TJX Companies and Kohl's; closings, cutbacks, bankruptcy, default, receivership or foreclosure news at Swoozie's and the Northgate Mall; acquisition, merger, loan, sale...

Fri, 05 Mar 2010 09:54:50 GMT

Elbit Plaza USA, a new real estate investment venture jointly formed by Elbit Imaging and Plaza Centers N.V., has entered into a co-investment agreement with Eastgate Property, an affiliate of international real estate fund manager, NCH Capital. Specifically...

Fri, 05 Mar 2010 05:17:23 GMT

Gil Borok was promoted to chief financial officer of CB Richard Ellis Group Inc. He takes over from Bob Sulentic who will continue as CBRE’s president running day-to-day operations and principal business activities worldwide. Both will report to CEO Brett...

Fri, 05 Mar 2010 03:15:59 GMT

Oakbrook, IL-based Inland Real Estate Acquisitions, Inc., the purchasing arm of The Inland Real Estate Group of Companies, Inc., completed the acquisition of a portfolio of 16 shopping centers totaling 3.5 million square feet. The REIT acquired the portfolio...

Thu, 04 Mar 2010 03:17:03 GMT

Large dollar property sales seem to be emitting faint sparks of hope for the commercial real estate outlook so far in 2010, particularly in the multifamily and hospitality sectors. To be certain, the number of property sales with price tags of $5 million...

Wed, 03 Mar 2010 07:50:50 GMT

Commercial real estate development and construction activity continued to plumb new depths in 2010, according to new government data. And a leading indicator of future construction activity finds even fewer projects on the drawing boards. According...

Wed, 03 Mar 2010 08:40:59 GMT

Add store closings to the list of categories where 'less bad' has become the 'new good.' The International Council of Shopping Centers (ICSC) issued its latest semi-annual report on store closings and found that the huge wave of store closures that...

Thu, 04 Mar 2010 12:00:38 GMT

U.S. Bankruptcy Court Judge Allan Gropper granted General Growth Properties an additional 120-day exclusive window to file its bankruptcy reorganization plan. The four-month extension is less than the 180 days that General Growth requested, but is significantly...

Wed, 03 Mar 2010 11:03:34 GMT

CoStar compiles news of corporate expansions, relocations, extensions, closures, layoffs, lease cancellations and mergers in the weekly Lease Up/Lease Down news report, a concise read keeping you updated on major corporate moves affecting commercial...

Thu, 04 Mar 2010 03:15:53 GMT

While multifamily vacancy rates are expected to stabilize in certain markets, Fitch Ratings' outlook for the sector in the near-term remains negative. Although vacancy rates are expected to reach their peak of 8.9% in 2010, rents will take longer to recover...

Thu, 04 Mar 2010 03:03:55 GMT

Pacific Western Bank in San Diego, CA, sold 61 non-covered adversely classified loans totaling $323.6 million, which includes $107.6 million of nonaccrual loans, to an institutional buyer for $200.6 million in cash - or about 62 cents on the dollar. Among...

Tue, 02 Mar 2010 04:02:18 GMT

LaSalle Hotel Properties, a Bethesda, MD-based hotel REIT, purchased the Sofitel Washington, DC Lafayette Square for $95 million. Gem Realty Capital Inc., a real estate investment company headquartered in Chicago, sold the 237-room property at 806 15th...

Tue, 02 Mar 2010 03:08:31 GMT

Peerless Industries is consolidating operations, inking a full-building lease just west of Chicago. The manufacturer of television and speaker mounts plans to add about 85 jobs over the next three years, and retain its 405 local employees. Peerless...

Mon, 01 Mar 2010 08:34:50 GMT

Liberty International Plc, the largest owner of shopping centers in the U.K., is considering selling off its U.S. office buildings and malls in an effort to reduce its U.S. exposure, according to a Feb. 24 report from Bloomberg. Bloomberg identified...

Mon, 01 Mar 2010 03:49:18 GMT

Keeping with the ongoing contraction of the traditional movie rental retail business, Blockbuster Inc. (NYSE: BBI, BBI.B) said it would close 500 to 545 of its company-owned U.S. retail stores during 2010. To date, the retailer has already closed 253...

Wed, 24 Feb 2010 10:33:21 GMT

Los Angeles-based CB Richard Ellis Investors purchased the Mass Court apartments at 300 H St. NW in Washington, DC, for $100.5 million, or about $270,889 per unit, according to public record. Prudential Real Estate Investors, acting on behalf of institutional...

Tue, 09 Mar 2010 22:48:55 EST

BofA lawyers have agreed to reimburse lawyers for a Miami developer after a judge's rebuke for trying "to score a litigation point" in an ongoing foreclosure dispute.

Wed, 10 Mar 2010 09:58:20 EST

With European property markets beginning to recover from the market downturn and global recession, there are signs that the REIT revolution could be at hand.

Wed, 10 Mar 2010 10:03:57 EST

A handful of investors dug to the bottom of the discount bin and snapped up General Growth's convertible bonds at three cents on the dollar. They now trade at 103 cents.

Tue, 09 Mar 2010 08:10:48 EST

Forty thousand more hotel rooms on the Continent would have Marriott brand names in the next few years under the company's plan.

Mon, 08 Mar 2010 09:36:50 EST

The New York real-estate investor will buy one of the nation's largest commercial-mortgage-servicing specialists for $100 million in new equity and assuming $180 million of Centerline's debt.

Mon, 08 Mar 2010 06:11:25 EST

Metric Property Investments hopes to raise £150 million in an IPO on the London Stock Exchange's main market as it seeks to take advantage of the sharp downturn in property values.

Sun, 07 Mar 2010 11:15:09 EST

China's largest property developer by market share said sales fell in February for the first time in 11 months. The slowdown was anticipated after the government introduced measures to cool off the real-estate market.

Wed, 03 Mar 2010 21:40:40 EST

The FDIC is investigating loan practices at Georgia's Integrity Bank, which was seized in 2008 after loaning all its capital to the owner of Casa Madrona Hotel & Spa in California.

Thu, 04 Mar 2010 15:59:01 EST

A federal judge hearing mall owner's bankruptcy reorganization grants it four more months of exclusive control over its fate, against the objection of some suitors and creditors.

Tue, 02 Mar 2010 18:53:17 EST

The former hotel near Times Square has become the latest Dubai World investment to go belly up, and investors are looking to pick up the property at a discount.

Wed, 03 Mar 2010 12:31:37 EST

Operators are betting that limited new supply, combined with an improving economy, will lead to ideal market conditions nationwide starting in 2011 or 2012.

Tue, 02 Mar 2010 21:42:44 EST

Land & Houses plans projects that could fetch as much as $942 million this year, though it cautioned about the country's uncertain political climate.

Wed, 10 Mar 2010 10:13:24 EST

The Helmsley Carlton House is being sold to a partnership between private-equity firm Angelo, Gordon & Co. and Extell Development for about $170 million.