TAMPA — A Moffitt Cancer Center spin-off that's building a massive genetic data base of individual patient cancer information just caught the attention of a deep-pocketed health care investor.
Today, Hearst — a name once known for newspapers but who is now a powerful player in health care and technology — will announce a $75 million investment in the Moffitt spin-off known as M2Gen. ...
09/19/17 Working Life
The economy's bouncing back. The stock market keeps hitting new records. And the jobless rate in Florida may soon drop below 4 percent. Surely, these are robust indicators — key signs that an annual raise is just around the corner. Right?
Allow me to offer this insight: Bwahahaha.
Traditional markers may signal a raise is due. But not in the 21st century business world. In its 41st annual survey asking more than a thousand businesses for pay trends, consultants Aon Hewitt found that companies plan to keep budgets for raises relatively flat in 2018....
Face it. Everybody in Florida was a loser to the statewide rampage by Hurricane Irma. Floridians suffered distress and fear, expense, the home-vs-work tug of war, evacuation (and post-storm return) hell, personal discomfort, damage and — even now for too many residents and businesses — oppressive power outages that Irma delivered from the Keys to Jacksonville to Tampa Bay.
Still, out of this mess there are winners of a sort. And there are clearly losers of all kinds....
TAMPA — Jeff Vinik, Tampa Bay Lightning owner and now partner in the joint venture real estate development known as Water Street Tampa, may one day become best known as the man who helped turbo-charge Tampa Bay into a major tech community.
An early step in this process was Vinik's recent decision to recruit Dreamit Ventures to serve as the in-house accelerator program to recruit a group of startup companies focused on "urban tech." They will work hand-in-hand with the 50-plus-acre, $3 billion Strategic Property Partners project backed by Vinik and Bill Gates' Cascade Investment....
09/08/17 Economic Development
Amazon HQ2 will be Amazon's second headquarters in North America. We expect to invest over $5 billion in construction and grow this second headquarters to include as many as 50,000 high-paying jobs – it will be a full equal to our current campus in Seattle. In addition to Amazon's direct hiring and investment, construction and ongoing operation of Amazon HQ2 is expected to create tens of thousands of additional jobs and tens of billions of dollars in additional investment in the surrounding community. — from Amazon's website....
Whenever words like "catastrophic" and "apocalyptic" spew globally in tandem with "Florida" from the mouths of 24-hour TV anchors and meteorologists, concerns spike over the future impact on the Sunshine State.
• If Hurricane Irma delivers a breathtaking hurt on Florida, will U.S. and international business communities grow wary of the potential liability of relocating or expanding to this state?...
09/04/17 Working Life
"The latest employment report reflects a rock-solid economy eight years after the end of the Great Recession. An influx of millions of new jobs has boosted the confidence of Americans, lined their pockets with more cash and induced them to spend more." — as reported by MarketWatch on Sept. 1
At first glance, the latest U.S. unemployment rate of 4.4 percent remains impressively low as the spending habits of most consumers continue to rise. It all makes for good reasons to savor this year's Labor Day. As the excerpt above of recent business coverage of our "rock-solid" economy attests: What's not to like?...
Indulge me. Put down the TV remote or smart phone — just for a moment — and give a nod of thanks and appreciation to eight cool scientists here in Florida.
Their inventions have helped pave the way for folks to more easily use the Internet, to fight against glaucoma, to further research at NASA, and to push the boundaries of artificial intelligence, among other accomplishments....
CLEARWATER — Coming off a major acquisition early this year, technology distributor Tech Data Corp. on Thursday reported weaker-than-expected quarterly earnings. The loss of momentum following the well received $2.6 billion purchase of Avnet's Technology Solutions division sent Tech Data shares plummeting in after-hours trading.
Net income for the fiscal second-quarter net income ending July 31 totaled $47.5 million. Net income per share was of $1.24, down 5 percent from the same period last year. Earnings adjusted for one-time gains and costs were $1.74 per share, up 23 percent....
Who's slipped Kool-Aid to Duke Energy's leaders? Please keep it coming.
On Tuesday, Duke Energy Florida president Harry Sideris came by the Tampa Bay Times and dropped a small bombshell. Or two.
First, he said Duke's Florida ratepayers will no longer have to pay for any more costs remaining on the never-built Levy County nuclear power plant project.
An absurd state law passed in 2006 let Duke charge customers for such costs, in effect eliminating the financial risk of taking on big nuclear projects. Duke's relentlessly raised rates to cover $800 million spent on a Levy nuke plant that was never built....
It's just a coincidence of timing.
As the for-profit Iron Yard coding camp closes its doors in St. Petersburg this October, a non-profit coding school based on a different business model will open in Tampa. But the hope of the tech and greater business community is the same — that the arrival of the non-profit LaunchCode can deliver a supply of program grads with software coding skills that can start making a dent in the demand for such work....
After years of hemming, hawing and spending hundreds of millions of dollars, Duke Energy on Friday said it will abandon plans to build a new nuclear power plant at its Lee Nuclear Station site in South Carolina.
Just to finish this sordid tale properly, the giant power company will seek regulatory approval to recoup the $368 million in preliminary costs spent on the now-ditched plant by charging its North and South Carolina ratepayers for up to the next dozen years....
Now that Florida's the third most populated state in the country at 20 million people and counting, and hungry to absorb millions more in the coming years, here's a timely question:
How will Florida ever feed all those citizens?
I don't mean food. We're talking energy.
Per person, electricity use is not a booming business. But with new folks and retiring boomers pouring over the state border these days, Florida's electric utility industry will need to keep generating more kilowatts — just to keep up with the demand of the next wave of Floridians....
In the eternal quest to appeal more to business than other states, Florida's managed to haul itself out of some pretty mediocre years. After scoring an impressive 8 among 50 states way back in 2007, Florida suffered horribly during and immediately after the recession. Its rank sank as low as No. 30 only four years ago, but in more recent years rebounded to score a spot at No. 10 last year and a still commendable No. 12 this year....
There's a whole lotta fast-growing private companies here in Tampa Bay. Odds are good you have not heard of most of them.
Seventy-nine Tampa Bay area companies made this year's Inc. 5000 list of the nation's 5,000 fastest growing private companies. The fastest here: St. Petersburg-based personal finance website The Penny Hoarder. The firm ranked tops locally with a 3-year growth rate in revenues of more than 9,000 percent....