Raymond James Financial Inc. is splitting its stock to make the price more affordable, the St. Petersburg financial services company said Wednesday. On March 22, investors will get one extra share for every two shares they own as of March 8. It's the seventh three-for-two-split in the company's 23-year history as a public company. Raymond James stock closed at $46.56 a share Wednesday, up $1.53 on the New York Stock Exchange. The company said it has named Hardwick Simmons, former chairman of Nasdaq, as lead director.
Firm to market Tropicana building
Two years after moving its headquarters from Florida to Chicago, Tropicana has hired the Cushman & Wakefield real estate firm to market its vacant four-story 149,000-square-foot Bradenton administrative building named for company founder Anthony Rossi. The building was open less than two years when PepsiCo, Tropicana's parent, moved hundreds of office jobs in early 2004. Orange juice manufacturing and distribution stayed in Manatee County. The complex includes a cafeteria, meeting rooms and fitness center on 7.3 acres. A sales price wasn't immediately available.
Bright House to offer Caller ID on screen
Beginning Wednesday, Bright House Networks customers who subscribe to both the company's digital cable TV and digital phone services will be able to receive Caller ID information in the upper-left-hand corner of their TV screen. The feature, which will be available for free, will be part of an improved on-screen access menu.
Lockheed to build in Florida if it gets deal
If Lockheed Martin wins a contract to build the next-generation space vehicle to take mankind to the moon and then to Mars, Florida will be the site of its assembly and launch operations, company officials said Wednesday. The assembly, testing and launch of NASA's crew exploration vehicle from Florida could initially create 300 to 400 jobs on the Space Coast, and possibly twice that once the program is under way in the next decade, John Karas, vice president of space exploration for Lockheed Martin, said.
Report: Bankruptcy law not working
A new law making it harder to erase debts in bankruptcy has failed to stop abuses and has stymied people who have legitimate reasons to file, the National Association of Consumer Bankruptcy Attorneys said Wednesday. Their report was based on an analysis of 61,335 people who have gone to credit counseling agencies. Ninety-seven percent were unable to repay any debts and 79 percent had gotten into financial trouble because of job loss, huge medical expenses or the death of a spouse, the report said.
Dow Jones to split into three units
Dow Jones & Co. announced a new organizational structure on Wednesday that will divide the company into three business units, one of which will include the print and online editions of the Wall Street Journal.