South Florida Business News - Local South Florida News | The South Florida Business Journal

Urban Outfitters under fire for products mimicking prescription drug bottles

Ashley D. Torres — Thu, 23 May 2013 11:53:07 +0000

Florida Attorney General Pam Bondi has joined 22 other attorneys general in blasting Urban Outfitters for selling products that look like prescription drug bottles. The Miami Herald reports that the attorneys general accused the retailer on Wednesday of “undermining” the fight against prescription drug abuse. In a letter to Urban Outfitters CEO and Chairman Richard A Hayne, the attorneys general asked the retailer to join in on the fight and remove the products from stores, the Herald reported. Urban…

Polo mogul Goodman to remain on house arrest

Ashley D. Torres — Thu, 23 May 2013 11:38:09 +0000

A Palm Beach Circuit judge has ordered International Polo Club Palm Beach founder John Goodman to remain on house arrest while he awaits a new trial, the Sun Sentinel reports. However, Goodman’s bond has been reduced to $4 million from $7 million and two Palm Beach County Sheriff’s Office deputies will no longer watch him at his Wellington home, the Sentinel reported. Last week, Goodman’s attorneys asked that he be allowed freedom to travel anywhere in the U.S. with prior notice, but would…

Citizens to unload 60,000 policies

Thu, 23 May 2013 11:24:17 +0000

Citizens Property Insurance Corp. looks to unload 60,000 policies to Heritage Property and Casualty Company, which is set to receive $52 million in the deal that has drawn criticism. The Tampa Bay Times reports that St. Petersburg-based Heritage donated $110,000 to Gov. Rick Scott’s reelection campaign in March. However, Scott’s office has rejected any notion of favoritism in the deal. "Citizens needs to review their own process for taking up risk takeout agreements to ensure that all decisions…

Rising sales lead U.S. automakers to skip summer shutdowns

Thu, 23 May 2013 11:10:18 +0000

An increase in demand has caused Ford and Chrysler to cancel a two-week shutdown that traditionally followed Memorial Day. The decision comes at a time when U.S. car sales are up 7 percent for the first four months of 2013, compared to the previous year, CNNMoney reported. U.S. sales are scheduled to hit 15.2 million for the year. "It's a strong signal on what's to come, a stronger second half of the year," LMC Automotive Senior Vice President of Forecasting Jeff Schuster told CNNMoney. "No one…

Cruise industry adopts Passenger Bill of Rights

Ashley D. Torres — Thu, 23 May 2013 11:03:36 +0000

The Cruise Line International Association announced Wednesday that its board has approved the adoption of a Cruise Passenger Bill of Rights. The 10-item bill will be immediately verified in writing by the CEOs of CLIA’s North American member cruise lines, which include Miami-based Carnival Cruise Lines, Royal Caribbean International and Norwegian Cruise Line. The adoption of the Passenger Bill of Rights comes after Carnival Cruise Lines had several ships experience mechanical trouble, including…

Heico Corp. Q2 income soars 24%

Ashley D. Torres — Thu, 23 May 2013 10:23:38 +0000

Heico Corp. has reported a 24 percent increase in net income for the second quarter, along with a rise in operating income and net sales. The Hollywood-based aerospace firm (NYSE: HEI) reported net income of $23.7 million, or 44 cents per diluted share, up from $19 million, or 36 cents per diluted share, for the second quarter of 2012. Operating income increased 19 percent to $44.7 million in the second quarter, up from $37.6 million in the prior-year period. Net sales climbed 10 percent to $237.7…

Bank of America sues Sedano’s CEO, former U.S. Century Bank directors

Brian Bandell — Wed, 22 May 2013 20:07:42 +0000

Bank of America filed a lawsuit against three former directors of U.S. Century Bank, two of whom are executives at Sedano’s Supermarkets, over a land loan in Florida City. BofA (NYSE: BAC) filed the lawsuit on May 13 in federal court in Miami against GREC Homes IX LLC, Agustin Herran, Rosiel Herran, Armando Guerra, Maria C. Guerra, Manuel Herran, Nyria Herran, Emiliano Herran and Mirian Herran. It seeks to enforce personal guarantees on a mortgage with $17.4 million in principal outstanding. Manuel…

Christian Slater purchases Coconut Grove home for $2.2M

Ashley D. Torres — Wed, 22 May 2013 19:10:39 +0000

Actor Christian Slater has purchased a Coconut Grove home for $2.2 million, Coldwell Banker Residential Real Estate announced. Built in 1928, Villa Dolce Far Niente is a four-bedroom, three-and-a-half-bath Old Spanish-style home that features a gourmet kitchen with marble floors and arched mahogany French doors that lead out to a patio area and pool. Taylor Corey with Coldwell Banker’s Coral Gables office represented Slater in the purchase.

Court appoints trustee, may liquidate Yacht Path International

Paul Brinkmann — Wed, 22 May 2013 19:04:06 +0000

A court-appointed trustee has been appointed to run Fort Lauderdale-based Yacht Path International, and the company will "most likely" be liquidated in bankruptcy, the company's bankruptcy attorney Bradley Shraiberg said. Dennis Cummings and Kevin Cummings, owners of the company, admitted no wrongdoing but agreed to allow the management of the company to be turned over to a fiduciary. Kevin Cummings said Wednesday in a phone interview that he hopes the company can still be reorganized. He said…

Walmart to open in Deerfield Beach on Friday

Shaun Bevan — Wed, 22 May 2013 19:00:02 +0000

Deerfield Beach's first Walmart Neighborhood Market is set to open this Friday among a gathering of local officials, community organizations and residents. The 57,000-square-foot grocery store will celebrate the grand opening with a ribbon cutting at 7 a.m. at 1101 S. Military Trail in Deerfield Beach on May 24. The new location is part of Walmart's (NYSE: WMT) expansion plan for the tri-country region. Last year the company planned to build or expand 14 new stores in South Florida over the next…