Which Tampa CEO sees potential gold in them thar shares of struggling homebuilder Lennar Corp.? It's fellow Miami hometowner Sherrill Hudson, the CEO of Tampa's TECO Energy but who can be found on Friday p.m. flights to Miami, where he still resides. Lennar appointed Hudson to its board last month. Securities and Exchange Commission filings show Hudson recently bought 10,000 shares of Lennar for $18.59 to $18.61 apiece. The TECO chief spent 19 years as managing partner of accounting firm Deloitte & Touche in Miami and has crossed paths with Lennar.
OSI servers, your tips are all yours
Tampa-based OSI Restaurant Partners is abandoning a plan to deduct credit-card processing fees from its servers' tips. Under the plan, an Outback Steakhouse, Carrabba's Italian Grill or Bonefish Grill server who received a tip via customer credit card would have had to forego a small percentage of it - usually 1.5 percent to 3 percent - for processing fees. But OSI lost its nerve when an Arkansas newspaper disclosed the practice.
Calculus of coal gets complicated
King Coal suffered another blow Monday, when three of the nation's largest banks said anyone who wants to build a coal plant needs to factor in the cost for carbon. Citi, JP Morgan Change and Morgan Stanley announced the formation of the "carbon principles" which offers climate change guidelines to advisers and lenders to power companies. The principles were formed in an effort to understand and evaluate carbon risk. It's increasingly likely that the United States will impose a cap-and-trade system to reduce carbon dioxide emissions, considered the leading cause of climate change. That could make coal, a cheap but high-carbon fuel, expensive to burn.
Not much value in Pearlman's condo
Bankruptcy trustee Soneet Kapila is ready to throw in the towel on Orlando music producer Lou Pearlman's vacant condo unit in the swanky Belle Harbor development on Clearwater Beach. Kapila says there would be no equity left after paying off the SunTrust mortgage, which is more than $1.2-million, and assessments from the homeowners' association. Pearlman, in jail awaiting trial on federal bank fraud charges, never lived in the condo and hasn't been paying his $926 monthly maintenance and dock fees. Kapila wants bankruptcy court approval to abandon the property.