business

Business
11:52 am
Mon October 14, 2013

Miami To NY Hedge Funds: We’re Ready For You Now

Miami Downtown Development is trying to lure hedge funds to Miami with assistance from developer Nitin Motwani (left) and Miami City Commissioner Marc Sarnoff (right).
Credit CARL JUSTE / MIAMI HERALD STAFF

Miami hopes to lure hedge funds out of New York with an updated twist on a familiar message: Come south for warm winters, zero state or city income tax and -- finally -- a downtown worthy of Wall Street’s elite.

“It’s really showing the maturity of our city,’’ said Nitin Motwani, a Miami developer and board member of the Downtown Development Authority. “The more people get familiar with what is happening in Miami — the real Miami — the more people are going to say, ‘I’m going to give Miami a shot.”

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Friday Business Report
4:34 pm
Fri October 11, 2013

How Reverse Mentoring Promotes International Business Solutions

Many respected leaders will point to mentors who helped them with their rise to success, and most of the time, that mentor was a more experienced individual. But a new local partnership is counting on younger mentors to school their elders.

The Miami Herald's Karen Rundlet tells us how digital proficiency is driving this program.

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Food
3:09 pm
Tue October 8, 2013

Food Truck Pioneer Battles Food Deserts With High Cuisine

The Kogi BBQ truck near the campus of UCLA in 2009.
Matt Sayles AP

Originally published on Wed October 9, 2013 9:46 am

What do restaurant chefs dream of? Most would be satisfied with a great review, a full house every night, maybe a restaurant or three of their own, a television show.

Not Roy Choi.

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Friday Business Report
7:33 pm
Fri October 4, 2013

How To Get A Startup Job In Broward

Startup Quest mentees meet every Thursday at a ballroom at the Signature Grand in Davie. Almost everyone in the program has at least a master's degree.
Credit Karen Rundlet

According to last month’s employment statistics, Broward County added more than 23,000 jobs. Miami-Dade didn’t do as well, with about 3,000 new jobs being added there.

But it’s not as though unemployment or underemployment have gone away. And a new program in Broward is trying to tackle those problems.

It’s called Startup Quest. The program puts patented ideas from universities into the hands of people who are underemployed or straight up out of work. Mentors and mentees serve as bosses and workers, respectively.

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Ethics
5:35 pm
Fri October 4, 2013

Why Privatizing City Functions In West Palm Beach Is Raising Some Eyebrows

West Palm Beach City Hall
Credit Creative Commons via Flckr wallyg

UPDATE 5:10 p.m. Oct. 4, 2013: Six firms have responded to the RFQ before today's deadline, among them Kim Briesemeister’s Redevelopment Management Associates.

A board of both city employees and people outside of government will rank the companies, though no timetable is in place for the review process.

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As communities change, so too must the institutions that govern them. One change in particular has raised a few eyebrows.

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Zoning
10:43 am
Thu October 3, 2013

Walmart Moves One Step Closer To Breaking Ground In Midtown Miami

Opponents of the proposed Walmart made their presence known.
Credit Wilson Sayre

A battle over plans to build a new Walmart in Midtown Miami continued Wednesday night before the city's Planning, Zoning and Appeals Board.

Although both sides of the issue attended the meeting, the focus instead was squarely on the numbers, two in particular: 21 and 27. These are the zoning ordinances that govern the use and design of land in midtown.                                                         

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Business
2:52 pm
Wed October 2, 2013

Florida Lawmakers Delay Highly Anticipated Gambling Study

Credit Wikipedia.org

A $400,000 gambling report will be delayed because it is too confusing and needs to be reviewed for accuracy, according to Senate Gaming Committee Chairman Garrett Richter, R-Naples.

The final portions of a three-part study by Spectrum Gaming Group were due to the Legislature on Tuesday, the same day executives at the New Jersey-based gambling research firm asked for another 30 days to complete the study conducted with its partner Regional Economic Models Inc., or REMI.

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Business
11:20 am
Mon September 30, 2013

More Than 7 Months After Triumph Fire, Carnival Tries To Correct Course

CEO Arnold Donald of Carnival Corp is the new CEO in the post-Triumph, post-Micky Arison-as-CEO era. He faces the issues rehabilitating it's image and getting customers and travel agents back on its side.
Credit C.W. Griffin / Miami Herald Staff

Smiling children wave. A happy couple dances by the pool. Family members play miniature golf with a view of the ocean, and a man asks a woman to be his wife. There are sunsets, kisses and giant ships serving as backgrounds for vacation snapshots.

“We never forget the moments that matter,” a woman’s voice says. “We hang them on our walls. We share them with everyone we know and hold on to them forever.”

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Business
2:48 pm
Tue September 24, 2013

Carnival's Earnings Hit By String Of Cruise Ship Problems

Part of the previously submerged, severely damaged right side of the Costa Concordia cruise ship is seen in an upright position last week after it was righted by salvage crews in Isola del Giglio, Italy.
Marco Secchi Getty Images

Originally published on Tue September 24, 2013 3:18 pm

Miami-based Carnival Corp., the world's largest cruise operator, reported a third quarter profit nearly a third lower than a year ago following a series of embarrassing and deadly mishaps involving its ships.

Carnival turned a $934 million profit for the period June through August, down 30 percent from the same quarter in 2012.

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Food
12:06 pm
Tue September 24, 2013

Trader Joe's Ex-President To Turn Expired Food Into Cheap Meals

Doug Rauch wants to take wholesome food that grocers have to throw away and cook and sell it as low-cost, prepared meals.
Bunnyhero Flickr

Originally published on Thu September 26, 2013 5:18 pm

Here's some food for thought: One-third of the world's food goes to waste every year. In the U.S., about 40 percent of our food gets thrown out. It's happening on the farm, at the grocery store and in our own homes.

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Finance
7:56 am
Tue September 17, 2013

JPMorgan To Get Whale Of A Fine For Trading Losses

JPMorgan Chase will reportedly pay a $700 million fine to settle allegations that it made risky trades out of its London office that led to more than $6 billion in losses.
Mark Lennihan AP

Originally published on Tue September 17, 2013 9:38 am

Authorities are set to slap banking giant JPMorgan Chase with a massive fine over the bank's huge trading losses in London last year, confirms NPR's Jim Zarroli.

Though details of the deal are still pending, several reports put the amount at more than $700 million. It comes on the heels of the bank's having recently paid $410 million to settle charges that it manipulated energy markets.

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Business
11:39 am
Mon September 16, 2013

Peer-To-Peer Boat Rental Companies Arrive In South Florida

Gene Correa, assistant dock master at Rickenbacker Marina, shows this boat's features to Simons Chase and Lori Anne Wardi, who rented the boat from Matias Aguirre on Boatbound.
Credit WALTER MICHOT / Miami Herald Staff

Getting out on the open sea, wind in your hair, enjoying the ride with your family and friends. Then there’s the boat payments, storage fees, fuel, maintenance and repair — these costs can quickly sink the dream of boat ownership.

Ahoy, mates — a new breed of boat-sharing services is entering the hot South Florida boating market. San Francisco-based Boatbound.co set up its East Coast headquarters on the Rickenbacker Causeway in Key Biscayne and launched nationally in June.

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Health Care
10:52 am
Mon September 16, 2013

More Companies Steering Retirees To Private Health-Insurance Exchanges

Private health insurance exchanges have existed for several years but are separate from the public health insurance marketplace being created by the Affordable Care Act.

Thousands of retirees covered by company health insurance plans will soon see their benefits shifted toward private health-insurance exchanges.

IBM and Time Warner announced the change last week. They’ll provide retirees money to buy Medicare Advantage or supplemental Medigap policies instead, part of a push by businesses to move away from the increasingly costly group-coverage model.

American Airlines may follow. Its parent company, AMR Corp., is seeking approval to make the change from a federal bankruptcy court judge.

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Americas
7:58 am
Mon September 16, 2013

Is Brazil Ready To Step On The World Stage?

An under-20 soccer team trains on the beach in Recife, Brazil.
Melissa Block/NPR

Originally published on Fri September 13, 2013 6:04 pm

As Brazil readies to host next year's World Cup and the 2016 Summer Olympics, All Things Considered host Melissa Block is in the country reporting on how it's all coming together.

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Community Contributor
12:39 pm
Thu September 12, 2013

The Miami Job Fest: Solving Talent Retention Slowly But Surely

Talent retention is a hot topic.

It seems like every group and organization in South Florida is working on a formula to reverse the ‘brain drain’, stop the ‘intellectual exodus’ or prevent the ‘mind migration’. With solutions that range from online resources and job boards to skills-based training and data collection on Miami’s talent pool, there is no deficiency of great ideas.

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