All business news will be posted in here. Posting threads for every business news on here will just be chaos and instead of having 500 threads full of 5 to 7 posts will look tacky next to one major thread full of 300 posts. Once this thread reaches 500 posts, a new one will be created.

Criteria:
-No retail news will be posted in here. Like IKEA or Publix for example, they can have their seperate thread or be posted in current threads.
-Rumors can be posted in here. But if it is something ludacris and unbelievable, please don't post.
-Tampa Bay area consist of Hillsborough, Pinellas, Pasco, Hernando, Citrus, Manatee, and Sarasota. Polk news are to be posted in the Florida sub-forum due to Lakeland having their thread in there. And yes Bradenton is in there as well, but I believe Manatee and Sarasota belong in here.
-All news from Bay News 9, St. Pete Times, etc must include a link to the original story.

Thanks,
TampaMike

Sypris wins military contract worth up to $200 million, will build product in Tampa
By Jeff Harrington, Times Staff Writer
In Print: Thursday, November 12, 2009


Sypris Electronics has won a U.S. Department of Defense contract worth up to $200 million over five years for making an electronic key-fill device that will be designed and produced in Tampa.

The device, which goes by the acronym RASKL for "really simple key loader," will be used to help modernize the Defense Department's electronics. It will replace the current key fill product used for loading keying data into military communications equipment.

The allure of the new product, Sypris said, is that it is small, lightweight, durable and requires no formal training to use.

The government contract is for an indefinite quantity and indefinite delivery date.

A Sypris spokeswoman said it was too soon to say whether the contract would lead to more hires. The company has about 300 employees in Tampa.

Shares in Sypris Solutions, the Louisville-based parent of Sypris Electronics, rose more than 30 percent in early trading Wednesday before closing at $3.28, up 56 cents, or 21 percent.

http://www.tampabay.com/news/business/sypris-wins-military-contract-worth-up-to-200-million-will-build-product/1051002

Is RadioShack unidentified Fortune 500 firm eyeing Tampa for headquarters relocation?
Posted by Times Editor
07:22:03 AM


Wake up and good morning. Is RadioShack Corp. really the Fortune 500 company that's allegedly in relocation play and looking at Tampa? Word is it may be a competition among Tampa, Charlotte, N.C., Nashville, Tenn., and Albuquerque, N.M. (AP photo: RadioShack headquarters in Fort Worth, Texas.)

Buzz about a potentially big corporate relocation — we're talking a 1,700-employee headquarters move here, folks, not some division or back-office operation — began a few weeks ago.

As these Corporate Kabuki Theater events unfold, an "unidentified" company comes calling to a metro area, in this case Tampa Bay, where economic development groups and commercial real estate experts pitch the visitors on the merits of the area, the available real estate options, the relative costs of being here versus some other metro area, the quality of life offerings and ... of course ... what economic incentive package the state-county-city might be able to toss their way.

Tampa's economic development chiefs assign the "unidentified" company a project name and then everybody waits. And waits. To see if Tampa Bay makes the cut for another round of more serious negotiations.

Perspective: Fortune 500 headquarter relocations are quite rare and extremely so when it comes to a company moving into Florida. The only one I can recall in recent years is the 2003 decision by Fidelity National Financial to relocate from Santa Barbara, Calif., to Jacksonville, citing lower costs and more expansion potential.

Here's a peek at RadioShack:

It's got 35,000 employees, about 4,470 company-operated stores, 1,300 dealer outlets, nearly 450 wireless phone kiosks throughout the U.S. and a footprint of approximately 2,500 square feet in an average store. A majority of its stores are located in strip shopping centers in suburban markets that exceed 500,000 people and it has about 200 company-operated stores in Mexico.

Here in Tampa Bay, tight-lipped county and economic development folks are not talking, but we do know this much. The project name is apparently Project Prince and the Tampa Bay Business Journal did float the name of RadioShack in its print edition last week. It buried the story inside the paper, perhaps as a wise acknowledgment that, while publishing the RadioShack name, there was no confirmation beyond commercial real estate street chatter.

Now the media momentum begins. The Dallas Morning News — RadioShack is based (for now) in Fort Worth, Texas — published this story today, for the first time raising a cowboy alarm that one of their own companies may be movin' on. The story explains RadioShack needs to find a new headquarters because its five-building, 900,000-square-foot campus along the Trinity River in downtown Fort Worth was sold to Tarrant County College in 2008, and RadioShack was given a rent-free lease until 2011. Says the Morning News:

"Now that RadioShack is beginning an active search, there are published reports of the company's possible interest in Tampa, Fla., Charlotte, N.C., Nashville, Tenn., and Albuquerque, N.M.

Florida's Tampa Bay Business Journal reported that developers there pitched proposals in late October to an unidentified Fortune 500 company looking for as much as 350,000 square feet for a corporate headquarters. It said the city's commercial real estate sector was abuzz with speculation identifying the company as RadioShack."

Of course, RadioShack says it does not comment on rumors or speculation. The consumer electronics chain has two years left on its lease, with an option to extend through June 2013.

What if RadioShack actually leaves Forth Worth? "It would be a big blow for the Dallas-Fort Worth area, which touts its success in attracting corporate relocations. And Texas regularly places at the top of rankings for friendliest business climates," the Morning News states.

In this NBC Dallas-Fort Worth affiliate TV report, Daniel Short, a professor at Texas Christian University's Neeley School of Business, says the rumor of a RadioShack relocation started in Tampa Bay (meaning the TBBJ story) but called it "plausible." He added companies typically begin to explore their options about 18 months out, and said that local Texas chambers of commerce predictably are doing all they can to ensure RadioShack stays in the area. (The TV report offers good views of RadioShack's headquarters.)

If this entire scenario is true, well — good luck, Tampa Bay. This is a regional economy that could truly use an injection of good business news of such magnitude. It would be a remarkable feather in the cap of the entire region. RadioShack generates just under $1 billion in quarterly revenues lately and boasts a market value of about $2.4 billion.

http://blogs.tampabay.com/venture/2009/11/wake-up-and-good-morning-is-radioshackcorp-really-the-fortune-500-company-thats-allegedly-in-relocation-play-and-looking-at.html

I must say, this would be BIG if it was to happen. Will it? Don't know! Florida isn't the most popular locations for Fortune 500 companies. Can we really beat out Charlotee and the other locations? One thing that could benefit Tampa if they don't choose Tampa is if they say that the only reason they didn't decide to come to Tampa was because we didn't have light rail.

Nestle to move professional beverage headquarters to Tampa
By James Thorner, Times Staff Writer
Posted: Nov 24, 2009 05:44 PM

Nestle, the Swiss conglomerate best known in America for its chocolate, is moving the headquarters of its professional beverage division to downtown Tampa.

Nestle has announced it is buying Vitality Foodservice Inc., formerly the juice division of Lykes Brothers. Vitality operates from downtown Tampa's Colonial Bank tower.

The newly merged company will likely take over more offices to accommodate an undisclosed number of Nestle employees shifting to Tampa from Glendale, Calif.

"I don't know quite how many people will move to Tampa,'' Vitality president and chief executive Gary Viljoen said Tuesday. "But there will be some relocations."

Lykes got out of the juice business in 1999, turning over its Dade City processing plant to Vitality. What used to employ 1,000 in a massive squeezing and packaging operation now employs just 15 people making coffee extract.

The fate of the Dade City coffee operation is uncertain, Viljoen said. Nestle plans to beef up Vitality's beverage lineup. It will stress the hot drinks, including Nestea, for which Nestle is known. The merged company wants to grow sales by about a third over the next five years.

"Health drinks are key," Viljoen said.

Vitality employs 700, including about 100 in the Tampa Bay area. Most of the rest work in a Chicago plant. Under Nestle ownership, the new company will be called Nestle Professional Vitality Beverage Solutions.

A large part of Vitality's business is selling and servicing institutional dispensers of drinks such as Tetley tea and Sunkist citrus juice.

Nestle also owns Zephyrhills Natural Spring Water, produced in Pasco County. But it belongs to a different corporate division, Nestle Waters North America.

The Nestle-Vitality merger is expected to close in late December.

http://www.tampabay.com/news/business/nestle-to-move-professional-beverage-headquarters-to-tampa/1054133

I'm liking these corporations becoming interested in Tampa. This and the Radio Shack rumor sounds promising for the region.

That sounds cool...BTW, I noticed that someone added the Radio Shack relocation to Tampa on Wikipedia's RS article

Tampa-based Walter Energy moving HQ to Alabama
By Jeff Harrington, Times Staff Writer
In Print: Thursday, September 10, 2009

Walter Energy, a local touchstone for decades that swelled from a modest home builder into one of the area's biggest public companies, is pulling out of Tampa.

In a decision that caught local economic development officials flat-footed, Walter Energy said Wednesday that it is relocating its headquarters from Tampa to Birmingham, Ala., with a new CEO at the helm.

The departure of what until recently was called Walter Industries signifies the endgame of a process that began when its leaders decided to focus on mining coal and exit the company's onetime core business of home building. Though a fraction of its former size, Walter remains a force, boasting $1.5 billion in revenue in 2008 and 2,100 employees.

Walter spokesman Michael Monahan acknowledged "mixed emotions" about leaving Tampa, the company's home base for 63 years. However, he said, the board wanted to unite corporate staff with the bulk of employees working in Alabama mines.

"Obviously, this company has deep roots in this community. Our employees have deep roots in this community. But going forward, we really feel our future is in Birmingham," Monahan said. "The lion's share (of workers) already are there, and corporate staff is looking forward to joining them."

The Tampa headquarters has 53 employees. Many of them are expected to make the trek to Birmingham, the company said. Walter said it is evaluating sites in the Birmingham area and expects to open its new office there in the first half of 2010.

Economic development officials in Alabama are compiling an incentive package involving tax credits for Walter. The company declined to discuss details until the deal is finalized.

Monahan said there was never an attempt to solicit a counter offer of incentives from Tampa. "That's not what this is about," he said. "We want to be in Alabama. We want to be closer to our mines."

Indeed, the announcement surprised local economic development leaders.

"As far as our committee was concerned, it wasn't on our radar," said local banker Brian Keenan, who heads the Local Business Retention and Expansion group for the Committee of 100, the Greater Tampa Chamber of Commerce's economic development agency.

Keenan, Tampa market president of Fifth Third Bank, said it was tough to hear of the loss of another corporate headquarters. He blamed the departure in part on the depth of this recession.

"There are a lot of companies out there making tough decisions every day," he said. "Sometimes it helps Tampa; sometimes it hurts the area."

Chamber CEO Bob Rohrlack Jr. said it was disappointing to lose a company with roots as long and broad as Walter's.

"It's an unfortunate reminder that in slow economic times we have to be on our game," he said. "Now we have to guard our perimeter" against other departures. "Florida has been a target state of others recruiting businesses for the past decade or two."

History

Walter Energy's strong ties to the bay area stretch back to 1946, when Tampa home builder Jim Walter started erecting houses geared toward veterans coming home from World War II.

His story is legend within company walls. At the age of 23, Walter saw a two-line classified ad for an unfinished house selling for $895. He bought it and within three days sold it at a profit. Thus was born a business of selling unfinished houses for do-it-yourself homeowners to complete.

The company's former bridge-shaped headquarters off Interstate 275 was a well-known Tampa landmark for years, until it was torn down in 2004 for the Walter's Crossing retail development. Two years earlier, Walter had relocated to new headquarters near International Plaza.

Over the years, the company diversified into building materials, water pipelines, marble quarries and coal mining. It was part of one of the most drawn-out Chapter 11 bankruptcy reorganizations in history — from 1989 to 1995 — and a central player in asbestos litigation that dogged home builders for years.

A few years ago, the Walter Industries conglomerate boasted sales topping $3 billion. In the 1980s, it had more than 600 employees in its Tampa headquarters alone.

But in recent years, the company's size and focus have both changed radically.

In 2006, it spun off its Mueller Water Products unit, which makes fire hydrants and other infrastructure products, into a new publicly traded company. Along with exiting the home building business, it spun off its mortgage financing business.

In April, the firm rebranded itself Walter Energy, underscoring its core business of mining metallurgical coal, used to make steel. Along with the coal mines, Walter operates a Birmingham-based operation formerly known as Sloss Industries, which turns coal into metallurgical coke.

News Wednesday morning of the planned exodus was simultaneous with the promotion of a new management team. Named chief executive is Victor Patrick, 51, who most recently served as vice chairman, chief financial officer and general counsel. George Richmond, 59, who was running the company's Jim Walter Resources subsidiary, will lead all operating units as president and chief operating officer.

Michael Tokarz will remain nonexecutive chairman.

The CEO post had been vacant since then-chairman and CEO Greg Hyland went to Atlanta in 2006 to run the Mueller spin-off.

In a statement, Patrick said he was looking forward to leading the company. "I'm also delighted at the prospects of having the full team in one location, facilitating our ability to work even more effectively together," he said.

http://www.tampabay.com/news/business/article1034790.ece

Old news... This was from four months ago.

Was it ever posted on here though? I saw a different article on it in the Birmingham thread and I never heard of the company or the relocation.

Yes, the day it was announced.

http://www.skyscrapercity.com/showthread.php?t=955022

I'm trying to think what Tampa could do to lure Radio Shack to Tampa. Ft. Worth is planning to offer $10.8 million to RS to keep them in that city until 2016. Every penny that is pent in this city has some type of opposition and if we offer RS more than what Ft. Worth is planning to offer, of course there will be some angry people. But having RS in this city would be a great deal for the city and region. Maybe if we had the state help in, then maybe.

I also was Googling news about headquarters relocations and found that Motorola was splitting in 2011 and looking to open a headquarters for the split part of the company. So I sent a email to the city because we can't really rely on them in keeping up to date with things like this.

Ft. Worth didn't move forward with their incentives to Radio Shack, so Tampa better be getting their a$$es moving and finding a way to attract Radio Shack here.

thanks for looking into this...i was wondering what happened with RS

Trader Joe's might be happening, maybe my numerous times of suggesting Tampa for a location did do something. ;)

http://www.bizjournals.com/tampabay/blog/2010/10/trader-joes-eyeing-tampa-bay.html?ed=2010-10-26&s=article_du&ana=e_du_pub

C'mon Channelside or "under the Element"....

--Joey

Law firm Quarles & Brady picks Tampa Bay area for expansion
By Ernest Hooper, Metro Columnist
In Print: Monday, November 22, 2010

The international law firm of Quarles & Brady splashed onto the Tampa Bay scene with two well-attended events at the Tampa Club, atop the Bank of America building where it will it house its area offices.

Led by chairman John Daniels, the only African-American to head a firm listed among the American Lawyer 200, Quarles & Brady picked our area over a number of other cities in looking to expand its Florida operation.

The firm's choice represents both an endorsement and an opportunity for this area. …
http://www.tampabay.com/news/humaninterest/law-firm-quarles-amp-brady-picks-tampa-bay-area-for-expansion/1135647

Tampa ranked one of the worst metros to find a job in December.

http://www.bizjournals.com/tampabay/news/2011/01/04/louisville-ranked-among-worst-cities.html?ed=2011-01-04&s=article_du&ana=e_du_pub

Shipping company Zim initiates Mexico, Tampa direct service
http://www.bizjournals.com/tampabay/news/2011/01/19/shipping-company-zim-initiates-mexico.html?ed=2011-01-19&s=article_du&ana=e_du_pub

Another thing the candidates for mayor and the council should be ask. How will they bring more business to the Port of Tampa before and after the Panama Canal expansion?

Time Warner to create 500 jobs in new Tampa-area center
By Katie Sanders, Richard Danielson, and Jeff Harrington, Times Staff Writers
Posted: Sep 20, 2011 12:32 PM
Time Warner has pledged to create 500 jobs in Hillsborough County over the next five years, promising average salaries of $57,200.

The center should open in late 2012, starting with about 100 employees mostly in human resources and information technology. An additional 150 jobs will be created by the end of 2014, another 125 in 2015 and the last 125 in 2016.
http://www.tampabay.com/news/business/time-warner-to-create-500-jobs-in-new-tampa-area-center/1192530

And look who comes running in claiming this one...... :lol:

^^
This is definitely good news! :D

^At least when our county doles out corporate welfare, we get a bigger bang for our buck.

Any thoughts on where they should or will locate? 175/BBD, I75/Fletcher, Westshore? I'm thinking they will be close to an interstate.

DT would be nice

^No way would this area ever do something smart like stipulate that you only get 7 figures worth of corporate welfare if you move to a centrally located part of town with the infrastructure already in place to handle growth.

I try looking at both sides of almost everything and I told HARTride this as well. On one side, here we are giving millions of dollars to create jobs. Is this going to be the same old forever in this state, giving tax incentives to corporations and companies to relocate and stay? And what happens after 2016 with Time Warner, do they start threatening to relocate somewhere else if they don't get more incentives?

But then, this does create 500 jobs with 100 jobs starting in 2012, that Tampa wouldn't have without the incentives. And not only that, but that gives 100 residents a job to pour some more money into the local economy. Now the question is, which is the same for every tax gift basket like this, are the incentives paid off in the short-term and long-term.

They'll likely open up in Westshore. I would love them though to fill in some office space in Downtown.

St. Petersburg considers luring biotechnology company that could create nearly 300 jobs
By Michael Van Sickler, Times Staff Writer
Posted: Sep 21, 2011 04:40 PM

ST. PETERSBURG — City, county and state officials are trying to lure a biotechnology company from outside Florida to move to downtown St. Petersburg and create an estimated 283 jobs during the next six years that pay an average of $120,000.

The St. Petersburg City Council will vote Thursday to approve $275,000 in land acquisition costs for about 1.25 acres the city owns in a downtown area called the Dome Industrial Park northwest of Interstate 275. The company is unnamed because it's exempt from state public record laws while it negotiates with state and local officials for incentives.
http://www.tampabay.com/news/localgovernment/st-petersburg-considers-luring-biotechnology-company-that-could-create/1192788

St. Petersburg considers luring biotechnology company that could create nearly 300 jobs

City, county and state officials are trying to lure a biotechnology company from outside Florida to move to downtown St. Petersburg and create an estimated 283 jobs during the next six years that pay an average of $120,000(!!!).

He said the company was lured, in part, by the downtown presence of other high-tech entities, such as SRI International and Draper Laboratory.

Looks like incentives for SRI might be paying off.
http://www.tampabay.com/news/localgovernment/st-petersburg-considers-luring-biotechnology-company-that-could-create/1192788

St. Petersburg considers luring biotechnology company that could create nearly 300 jobs





Looks like incentives for SRI might be paying off.
http://www.tampabay.com/news/localgovernment/st-petersburg-considers-luring-biotechnology-company-that-could-create/1192788
Hey! I posted that first! ;) lol

Now 300 jobs paying six figures are worth an incentive that is less than 1% of one year's payroll.

DT would be nice

I'd be totally shocked if they went there but I doubt they will.

Would locating downtown really be the cheapest way to go for Brighthouse? I'd like to see it happen, but these setups tend to go for a suburban campus.

Would locating downtown really be the cheapest way to go for Brighthouse? I'd like to see it happen, but these setups tend to go for a suburban campus.
Same here. And honestly, because they both have somewhat of a partnership between the two, I wish BrightHouse and St. Petersburg Times would fill in office space in Downtown or even destroy the ugly building St. Petersburg Times currently does business in and build something better looking there for the two.

Some good local business news

Oragenics receives technology patent
Tampa Bay Business Journal
Date: Wednesday, October 12, 2011, 2:10pm EDT

The U.S. Patent and Trademark office issued a patent to Oragenics Inc. for technology that the company said would be useful in the design of novel diagnostic tests and therapies.
The patented In Vivo Induced Antigen Technology, or IVIAT, identifies genes in bacteria or viruses that are expressed differently during an infection, the company said in a statement.
Oragenics (OTCBB: ORNI), headquartered in Tampa, is a nutraceutical company focused on oral care probiotics.
http://www.bizjournals.com/tampabay/news/2011/10/12/oragenics-receives-technology-patent.html?ed=2011-10-12&s=article_du&ana=e_du_pub

Looks like Scott screwed up again:

http://www.tampabay.com/news/business/economicdevelopment/article1197246.ece

As biotech jobs go elsewhere, Floridians wonder: what happened?

By Robert Trigaux, Times Business Columnist
In Print: Tuesday, October 18, 2011

Jackson Laboratory just cut a deal with Connecticut to build a major biotech center after failing repeatedly to expand in Florida when the state declined to provide sufficient backing.

Now the Jackson Laboratory for Genomic Research will rise on the University of Connecticut's Health Center campus. At a news conference, Jackson Lab's CEO, Dr. Edison T. Liu, singled out the state's decision to invest more than $800 million at the UConn center as key to Jackson's expansion decision.

As Connecticut's New Haven Register opined, the deal was made possible "by the unwillingness of Florida's governor, Rick Scott, to pay the high cost of Jackson Laboratory's original plan — building in Sarasota. That deal — $200 million in state and county money, plus $100 million from philanthropic foundations — fell apart after Scott balked at the cost."

Fair enough. Florida can't win them all, even if high-end biotech expansions are rare, and even if Florida is trying (halfheartedly at best these days) to establish a serious biotech industry cluster.

Maine-based Jackson Lab's pick of Connecticut over Florida does not sit well in upscale Sarasota. The city's Herald-Tribune ran an editorial Monday headlined Jackson Lab Mystery asking if Scott really focused on Jackson Lab's request for state funding to help in an expansion Sarasota leaders were keen to land and planned to support generously.

Alas, the paper quotes Scott, in a recent meeting with its editorial board, hemming and hawing over Jackson Lab's negotiation with the state. Said Scott: "It never got to, I don't think they made an application to the state … not that I am aware. They might have, but it never got to me."

Ultimately, Scott said the state had to have a "good deal" to proceed with Jackson. But neither Scott nor the state development arm, Enterprise Florida, ever said why Jackson did not pass muster.

The editorial concludes: "In retrospect, too many legislators, local officials and private-sector foundations were left wondering who in state government was doing what and when. And, in our view, it's not clear — moving forward — how those connections could have been made.

"As a result," the editorial ends, "the lesson learned from our local perspective is that there is no lesson learned."

Ouch.

This is a disturbing tale for a couple of reasons.

First, if our governor insists that "jobs, jobs, jobs" is his priority, he and his team must do a better job negotiating with significant players like Jackson Lab. And if Jackson Lab really was too expensive for Florida (but not smaller Connecticut), our state leaders must clearly say why the deal did not work. Otherwise, regional economic developers will be doomed to repeat their recruiting failures.

Second, our governor recently backtracked on a major campaign promise to create 700,000 jobs in seven years above and beyond the 1 million jobs that economists say the state would create on its own. Scott now says he'll take credit for all jobs created through 2017.

When we need extreme clarity to fix Florida's economy, we're sidetracked by distortions and muddying the waters of job creation.

That's not leadership.

Contact Robert Trigaux at trigaux@sptimes.com.

He didn't screw up, he's doing exactly what he was installed into office to do... Fuck over working Americans and hope voters blame Obama.

The problem is for thirty years a political philosophy has been boiling over waiting for a time to explode. After Goldwater, the grown-ups were able to keep the Randian-Birchers at bay for awhile. No longer, the Jim Bakers, George HW Bushes, Scowcrofts, Buckleys, and Reagans are gone. Now its unadulterated political theory and "belief", without regard to evidence. So you have a Governor who is businessman, always a bad thing when it comes to getting into politics at such a high level, who doesn't understand the consequences of his actions. I guarantee that he doesn't understand the complexity of the system. Its a lot different running a company, no matter the size, versus running a state wide government and stewarding a state economy. He doesn't appreciate how a ton of little things add up to livability, and that is more than just corporate tax levels.

In general Americans don't get complexity, and its currently killing us globally.

I can't imagine Scott getting re-elected. If he does it would really show how bad this state is. I will definitely support the other candidate financially as well as volunteer

I can't see him either, and my vote is for anything besides him come 2014. But we already have a Scott thread, I'll leave my ranting there. :)

Biotech company IRX Therapeutics relocating from New York to St. Petersburg
http://www.tampabay.com/news/business/workinglife/article1197707.ece

ST. PETERSBURG -- Biotech company IRX Therapeutics is relocating its headquarters from New York to St. Petersburg's Gateway area, Gov. Rick Scott and local development leaders announced Thursday.

The company will initially employ 40 people, but within five years intends to employ more than 280 with an average salary of more than $90,000.

Scott, University of South Florida representatives and city and state officials met at the Nelson Poynter Memorial Library on the University of South Florida St. Petersburg campus Thursday to release details about the relocation.

For years, USF and Tampa Bay have been trying to recruit top-tier biotech and engineering firms to the region. Among other companies lured so far are SRI International, which is involved in marine research, and Draper Lab, which has a manufacturing facility in St. Petersburg and bioresearch facility at USF Tampa.

As part of his jobs initiative, Scott has been actively urging universities to prioritize degrees in science, technology, engineering and math, known as STEM fields.

As one comes from New York, another goes to New York....

Inuvo plans HQ move to New York after buying Vertro
Tampa Bay Business Journal by Margie Manning,
Date: Thursday, October 20, 2011, 1:02pm EDT

Inuvo Inc.’s planned $19 million acquisition of Vertro Inc. will cost the Tampa Bay area a corporate headquarters.

The combined digital media company will be headquartered in New York, where Vertro (NASDAQ: VTRO) already is located, executives said in a conference call detailing the transaction.

“The location of our headquarters in New York gives us great access to talent from which to choose the best and brightest people to help build our company, in addition to the city’s optimal location for developing potential new business leads,” said Peter Corrao, president and chief executive of Vertro.

A dedicated team will remain in Clearwater, where Inuvo (NYSE Amex: INUV) is based, and “will continue to be an integral component in our strategy,” Corrao said.

Inuvo recently went through a reduction in force of about 20 people, Corrao said in a transcript of the conference call filed with the U.S. Securities and Exchange Commission.

The deal is expected to create about $2.4 million in annual savings. “Independently, we operate today two relatively small public companies whose size makes it difficult to support the added cost burdens associated with the public. Together, through the elimination of one set of these costs, along with other overlapping operational costs, we believe we can more adequately support our continued public market listing,” said Richard Howe, Inuvo’s president and chief executive.

Howe is expected to be executive chairman of the combined firm and Corrao is expected to be the president and CEO. The combined company will retain the Inuvo name and is expected to be listed on the NYSE Amex with the ticker symbol INUV.

The deal calls for a tax-free exchange of shares, at an exchange rate of 1.546 shares of Inuvo common stock for each share of Vertro common stock.
http://www.bizjournals.com/tampabay/news/2011/10/20/inuvo-plans-hq-move-to-new-york-after.html?ed=2011-10-20&s=article_du&ana=e_du_pub

The thing about IRX is that they started at USF. You need more companies that follow a similar progression. Start small here, than make the jump to the bigs, grow/develop/learn lessons, and than settle back home again. This progression allows the company to compete with actual competition and than come back to the area with good experience. Its certainly better than doing pretty well and than selling out. The area will never develop any depth, if companies keep selling out for a quick pop.

Tampa-based Unthink, social network competition to Facebook and Google+
http://www.bizjournals.com/tampabay/blog/2011/10/taking-the-wraps-off-tampas-unthink.html?ed=2011-10-27&s=article_du&ana=e_du_pub

Question is, will it have the same or fraction of economic growth that Facebook provided to where it was founded?

^^
Maybe so. But watch out for the PROTECT IP act that is trying to go through Congress. It's basically a China-style censorship attack on the internet here & if it passes and is signed, then we won't have YouTube, FB, Twitter, or this new service.

I'm not trying to hijack the thread, just pointing out something to watch for. Nonetheless, I wish the company the best. Hopefully they can compete.

^That fascist law being pimped by House Republicans probably won't make it through the Senate, and certainly wouldn't make it through the courts.

^^
OF course, a no brainier there. But again, I am not hijacking the thread, just pointing out something that one group is trying to push through.

Outback Co-Founder launches new restaurant concept in Tampa
http://www.tampabay.com/features/food/restaurants/outback-co-founder-launches-pdq-new-concept-restaurant-in-tampa/1199378

Tampa-St.Pete ranked 3rd in Top-Performing Metro's in US
http://www.bizjournals.com/tampabay/news/2011/10/31/slideshow-top-performing-us-metros.html?ed=2011-10-31&s=article_du&ana=e_du_pub

Outback Co-Founder launches new restaurant concept in Tampa
http://www.tampabay.com/features/food/restaurants/outback-co-founder-launches-pdq-new-concept-restaurant-in-tampa/1199378

Wonderful! And their menu seems to be pretty promising. Hopefully they can provide a competitive footing against Chick-Fil-a.

Tampa-St. Petersburg hotel statistics lead nation’s in November
http://www.bizjournals.com/tampabay/news/2011/12/22/tamp-st-petersburg-hotel-statistics.html?ed=2011-12-22&s=article_du&ana=e_du_pub

Lets get some new hotels built! ;)

A hotel occupancy rate of 55.9% doesn't really translate to construction. It just means the local market isn't at risk of being contracted anymore (hotel closings).

What is a healthy occupancy for hotels? 45% vacancy seems very high.