Miami-Dade existing home sales, prices up again

Resales of Miami-Dade county homes are red hot.

Sales of existing homes rose 23 percent in Miami-Dade in November from a year earlier, even as the inventory of residential property on the market remained tight, the Miami Association of Realtors said.

The median price of an existing condominium in Miami-Dade surged 31.7 percent to $158,000 in November from a year earlier, while the median price of a single-family home jumped 15.9 percent to $195,000.

Median home prices in Miami-Dade have marched higher for 12 consecutive months, buttressing views that the recovery in Miami-Dade’s beleaguered housing market is on solid footing.

“It appears the Miami real estate market will set another record in 2012, exceeding sales levels at the height of the boom in 2005 and during the all-time record in 2011,” Martha Pomares, chairman of the Miami Association of Realtors, said in a statement. “Considering the shortage of housing inventory available, it is remarkable that sales remain this strong. This record demand coupled with extremely limited supply is driving strong and consistent price appreciation.”

Cash continued to drive residential sales in Miami-Dade in November, accounting for 63 percent of transactions.

The inventory of previously owned homes inched up 1 percent to 11,862 units in November from October, but that represented a 19 percent decline from November 2011.

Distressed sales comprised 43.4 percent of all residential transactions in Miami-Dade in November, down from 56 percent a year earlier and 47.4 percent the prior month.

Properties are selling faster in Miami-Dade, too. The median days on the market was 43 fro single-family homes and 51 for condominiums. A more typical period is 90 to 120 days, the Miami Realtors said.

For all of Florida, sales of existing single-family home also continued to improve in November, rising 24.4 percent from a year earlier and median prices rose 11.2 percent. Statewide condominium sales rose 18.3 percent year over year with the median price of a condominium soaring 23.1 percent to $112,000.

Read More..

South Florida startup .CO Internet to star in Super Bowl lineup

.CO Internet, the fast-growing Miami company behind the .CO domain name, will be featured in a 2013 Super Bowl commercial, through a partnership with leading Web hosting and domain name provider Go Daddy, the companies said Wednesday.

The 30-second spot is set to feature Go Daddy Girl Danica Patrick. The story will revolve around how easy it is to create your own business online and use the Internet to grow it quickly. “We get to share our message with more than a hundred million people,” said Juan Diego Calle, founder and CEO of .CO Internet. “We’re going to inspire people to seize the moment – to actually launch their big ideas online.” The commercial is being shot in Los Angeles in early January and was developed by Deutsch. Costs were not disclosed.

This will be the third year for the Go Daddy-.CO partnership. Last year’s "Body Paint" Super Bowl ad drove significant traffic, the companies said. In 2011, .comedienne Joan Rivers was revealed as the "surprise" new Go Daddy .CO Girl, triggering a 466 percent increase in domain name registrations within 15 minutes of airing. There are now more than 1.4 million .CO domain names.

Read More..

Pipeline Brickell, a new co-working space, reaches 70% occupancy

Pipeline Brickell, the shared workspace at 1101 Brickell Avenue that opened last month, announced it has reached 70 percent occupancy and is now home to dozens of startups, established companies and professionals. Company founders Todd Oretsky and Philippe Houdard said members of the 14,000-square-foot high-design co-working center include The Founder’s Institute, the world's largest startup accelerator; Pininfarina, an Italian-based design firm with clients including Ferrari and Maserati; Virgin Unite, a non-profit foundation founded by Richard Branson for the venture capital conglomerate Virgin Group; LearnerNation, a provider of interactive learning tools; and GuestBooker, a New York-based firm that specializes in booking high-profile talent on national TV networks. Pipeline, one of a wave of co-working spaces already opened or planned for Miami, also offers its members classes, workshops and networking events and has been hosting programs for community organizations.

Read More..

Miami in spotlight at AVCC, other entrepreneurship events

Entrepreneurs from around the world took the stage during this packed week of entrepreneurship events in Miami: Florida International University’s Americas Venture Capital Conference (known as AVCC), HackDay, Wayra’s Global DemoDay and Endeavor’s International Selection Panel.

The events, all part of the first Innovate MIA week, also put the spotlight on Miami as it continues to try to develop into a technology hub for the Americas.

“While I like art, I absolutely love what is happening today... The time has come to become a tech hub in Miami,” said Miami-Dade Mayor Carlos A. Gimenez, who kicked off the venture capital conference on Thursday. He told the audience of 450 investors and entrepreneurs about the county’s $1 million investment in the Launch Pad Tech Accelerator in downtown Miami.

“I have no doubt that this gathering today will produce new ideas and new business ventures that will put our community on a fast track to becoming a center for innovative, tech-driven entrepreneurship,” Gimenez said.

Brad Feld, an early-stage investor and a founder of TechStars, cautioned that won’t happen overnight. Building a startup community can take five, 10, even 15 years, and those leading the effort, who should be entrepreneurs themselves, need to take the long-term view, he told the audience via video. “You can create very powerful entrepreneurial ecosystems in any city... I’ve spent some time in Miami, I think you are off to a great start.”

Throughout the two-day AVCC at the JW Brickell Marriott, as well as the Endeavor and Wayra events, entrepreneurs from around the world pitched their companies, hoping to persuade investors to part with some of their green.

And in some cases, the entrepreneurs could win money, too. During the venture capital conference, 29 companies —including eight from South Florida such as itMD, which connects doctors, patients and imaging facilities to facilitate easy access of records — competed for more than $50,000 in cash and prizes through short “elevator’’ pitches. Each took questions from the judges, then demoed their products or services in the conference “Hot Zone,” a room adjoining the ballroom. Some companies like oLyfe, a platform to organize what people share online, are hoping to raise funds for expansion into Latin America. Others like Ideame, a trilingual crowdfunding platform, were laser focused on pan-Latin American opportunities.

Winning the grand prize of $15,000 in cash and art was Trapezoid Digital Security of Miami, which provides hardware-based security solutions for enterprise and cloud environments. Fotopigeon of Tampa, a photo-sharing and printing service targeting the military and prison niches, scored two prizes.

The conference offered opportunities to hear formal presentations on current trends — among them the surge of start-ups in Brazil; the importance of mobile apps and overheated company valuations — and informal opportunities to connect with fellow entrepreneurs.

Speakers included Gaston Legorburu of SapientNitro, Albert Santalo of CareCloud and Juan Diego Calle of .Co Internet, all South Florida entrepreneurs. Jerry Haar, executive director of FIU’s Pino Global Entrepreneurship Center, which produced the conference with a host of sponsors, said the organizers worked hard to make the conference relevant to both the local and Latin American audience, with panels on funding and recruiting for startups, for instance.

Read More..

NBCUniversal bolsters Telemundo as US Latino market grows

Telemundo has long been like a remote Caribbean island, cut off from its sprawling media homeland.

NBCUniversal acquired the Spanish-language television network a decade ago for $2 billion but became discouraged by its seemingly limited prospects. But Comcast Corp.’s takeover of NBCUniversal last year may be building Telemundo a bridge to the mainland.

“Telemundo now has the full support of Comcast and NBCUniversal,” said Emilio Romano, a former Mexican airline chief executive who was hired a year ago to run Telemundo. “For them, Telemundo is clearly a diamond in the rough.”

The Miami-based network, which began in 1954 as a single Puerto Rico TV station, had long been viewed as an “East Coast” outlet infused with Caribbean flavor — not the right ingredients for the majority of U.S. Latinos, two-thirds of whom are from Mexico or are of Mexican descent.

Appealing to viewers with Central American heritage has become central to NBCUniversal’s campaign to grow Telemundo. But there’s a hitch: Telemundo’s rival, Univision Communications, has a lock on Mexico’s top-rated prime-time soap operas, plus contracts with top Mexican actors and the rights to some of the most popular Mexican soccer teams — making Univision the network of choice for most Mexican immigrants.

So Telemundo has had to shell out tens of millions of dollars to produce original programming to compete in the increasingly crowded field of Spanish-language television.

“They are a hungry No. 2,” said Carmen Baez, president of Latin America operations for advertising behemoth Omnicom Group. “It’s like that old Avis rental-car slogan: ‘We try harder.’ ”

Since Comcast took majority control of NBCUniversal in January 2011, it has installed new management at Telemundo and increased the operating budget. Last year Comcast agreed to spend about $600 million for the rights to broadcast the FIFA World Cup soccer tournaments in 2015 through 2022 — nearly double the amount that Univision currently pays.

The company increased Telemundo’s annual programming budget nearly 20 percent and steered more resources to local Telemundo stations.

“It’s a 360-degree programming strategy built around cultural relevance,” said Lauren Zalaznick, who oversees Telemundo as NBCUniversal’s chairman of entertainment and digital networks.

For example, because many Latino families watch television together, Telemundo licensed films from Walt Disney Co.’s Pixar Animation Studios, creator of such blockbusters as Toy Story and Cars, to build a Sunday night movie block. Telemundo has slowly bolstered its daytime schedule, sending its TV judge, Ana Maria Polo — who has been dubbed the “Latino Judge Judy” — on a road trip to Los Angeles and broadcasting more news from Mexico.

The company also has paid more attention to Mun2, its bilingual youth-oriented cable channel. This week the channel was dealt a devastating blow with the unexpected death of its reality show superstar, Jenni Rivera, in a plane crash in northern Mexico.

Telemundo draws an average of 1.2 million viewers in prime time, an increase of 5 percent over 2011 and 18 percent more than in 2010, according to ratings firm Nielsen. Univision’s ratings have held steady but its second broadcast network, TeleFutura, is down 5 percent this year.

Read More..

Regulators agree to give FPL four-year rate deal

TALLAHASSEE The Public Service Commission on Thursday agreed to award Florida Power & Light a $358 million base rate request that includes a series of rate increases over four years and rejected a call from the public counsel that the company scale back its rates.

After a morning hearing discussing the nuts and bolts of a proposed settlement, the five-member commission appears on track to vote 4-1 to modify the settlement agreement presented by the company, and allow FPL to received guaranteed profits of between 9.5 to 11.5 percent through 2016.

The settlement is less than the $543 million the company originally sought in its first settlement offer, but the profit level – which would guarantee a midpoint return on equity of 10.5 percent – is higher than the 10 percent the PSC staff recommended in a draft recommendation.

Commissioner Eduardo Balbis, who supported giving the company the 10.5 percent return on equity, expressed interest in demanding that the company also make a concession to collect at least $10 million less from consumers in other areas. No other commissioners would agree

FPL, a regulated monopoly with 4.6 million customers in Florida, is currently making profits at about 11 percent, the most allowed under current law. But the company’s rate agreement ends in January and it has asked the PSC to allow it to collect more money from customers to pay back the costs of the Cape Canaveral power plant, scheduled to go into service in June.

The company has scheduled two other power plants to go online in 2014 and 2016 and has joined with its largest power users to offer up a settlement that will allow it the flexibility to raise its rates for those plants without PSC oversight, and the expensive and contested rate case that would come with it.

The decision by the PSC to approve much of the settlement effectively shuts down the argument of the Office of Public Counsel, the state agency that represents customers in rate cases. The public counsel has vigorously opposed the settlement deal and instead has argued that the company is making about $253 million more than it should and wants the PSC to lower FPL's rate of return and charge customers less money.

The PSC decision Thursday marks the first time the PSC has moved forward on a rate settlement without the public counsel’s consent.

J.R. Kelly, the state’s chief public counsel, told the Herald/Times that a ruling in favor of the proposed settlement could work against the public in future cases because it would give an incentive for utility companies in the future to do as FPL did and circumvent his office.

FPL side-stepped the public counsel when it entered into its agreement with Florida Industrial Power Users Group, the South Florida Hospital and Healthcare Association and the Federal Executive Agencies and announced the settlement just as the company’s rate case was scheduled to begin in August.

The groups represent about a half of one percent of FPL’s 4.6 million customers but use nearly half of all the electricity generated. Under the deal, they would get lower rates than regular residential customers.

This is also the first major rate case decided by this commission for FPL, the states’s largest utility, since the legislature unseated four members of the previous commission when it rejected most of a $1 billion rate increase request in 2009.

Read More..

Amid investigation, Homestead kicks out nonprofit business center

Homestead officials have kicked out the operator of its Carrie P. Meek business center amid a county investigation into the center’s director.

But Miami-Dade Commissioner Dennis Moss has asked city officials to hand over operation of the center to a non-profit which is considering employing the scrutinized director.

The Meek center, also known as the Business and Technology Development Corp., is under investigation by the Miami-Dade County Inspector General’s Office for suspicion of grand theft and money laundering, according to Homestead City Manager George Gretsas.

Run by Hilda B. Hall-Dennis, the Meek center has operated rent-free out of a city-owned building on Civic Court in Homestead. It’s supposed to provide help and subsidized office space for businesses starting up in the area.

The center’s lease with Homestead’s Community Redevelopment Agency expired Sept. 30, but it has continued to work out of the building. Now, Hall-Dennis has until Dec. 14 to get out, according to a letter sent to her by the CRA.

The CRA, a special taxing district which helps fix up blighted areas, will run the center until a new, permanent operator can be found.

Moss, according to a letter sent to city officials, hopes that the new operator will be NANA, the Neighbors and Neighbors Association.

NANA on its website says it started the Mom and Pop Small Business Grant Program and the City of Miami Micro-Enterprise Assistance Grant Program. The organization is funded with county and city of Miami money, according to its website.

NANA director Leroy Jones said that Hall-Dennis has worked for the association in the past as a paid consultant, conducting training and workshops. He said his organization’s board is currently considering whether to hire her again as a contractor, or to give her a job.

Jones said Hall-Dennis would not be given any position that handles money.

“To be perfectly honest with you, I would love Hilda to work for me. And I understand what’s out there, but I also understand that she has not been found guilty,” Jones said.

He added: “For doing workshops and trainings for businesses, she’s very good at that. I know that because we’ve been doing trainings and workshops since at least 1998. ... If we bring her on board, that’s what she’ll be doing.”

Jones said he is considering submitting a proposal to the city to run the Meek center.

Commissioner Moss had faith in both NANA and Hall-Dennis, he said.

“NANA is an organization that has a credible track record in this community,” the commissioner said. “They will do an excellent job of running the center.”

In a letter to the city of Homestead, the center’s namesake, former U.S. Rep. Carrie P. Meek praised Hall-Dennis. Meek has no affiliation with the center, other than its name and her help in first securing the money for the center.

“I am extremely proud of the center and the work that Hilda Hall-Dennis has done,” she wrote.

Homestead’s Meek center has landed $898,000 in federal grant money since 2008, according to an IG memo. As a condition of receiving the money, which is dispersed by the county, the Meek center is supposed to be registered as a non-profit and carry various types of insurance.

But the center lost its non-profit status in 2010 for not filing returns for three consecutive years, and the state issued a stop-work order on the center in September for failing to carry the required insurance. The stop-work order means that the Meek center is not allowed to do any business until it resolves the insurance issue.

After going “missing in action” for months, according to city manager Gretsas, Hall-Dennis appeared at a CRA meeting on Dec. 4 to defend herself.

She summed up the IRS issue as a mistake, because, she claims, she did mail in her taxes every year. She also said that the stop-work order had been taken care of.

A spokeswoman for the state confirmed in an email on Tuesday that the stop-work order has been lifted and a $2,300-fine has been levied. The fine had not been paid as of Tuesday, the spokeswoman wrote.

Hall-Dennis said at the meeting that many of her problems stem from the county not reimbursing her in a timely way for the center’s expenses.

“I’ve taken my own money to make sure that the staff was paid. I’ve taken money from my family. I’ve taken loans,” she said.

The center also has a trail of unpaid bills and judgments against it from payroll companies and banks, totaling more than $250,000, Gretsas said.

“It’s embarrassing. The more the facts come out, the worse it gets. And I think we just need to move on. This doesn’t look good for the city,” he said.

Follow @Cveiga on Twitter.

Read More..

Diageo moving office to Coral Gables

Diageo will move its Miami office to Coral Gables in the fall of 2013.

The world’s leading spirits company will move from its current office at Blue Lagoon when its lease ends and relocate to 396 Alhambra Circle in Coral Gables.

Diageo has 175 people based in its Miami office, the majority of whom work for the Latin American and Caribbean region that is headquartered in Miami. The company has signed a 10-year lease in Coral Gables at 296 Alhambra, which is owned by Agave Holdings. The 32,527 square foot office has received LEED Silver and Gold certification.

“The new office is an important hub for not only Diageo North America, but also serves as the gateway to Latin America and our successful – and growing – business there,” said Randy Millian, Diageo President, Latin America and Caribbean. “We are excited to join the Coral Gables community.”

With the completion of the Diageo lease, the 282,000-square-foot Coral Gables office building is now 65 percent lease just one year after its opening. Diageo will join a roster of existing tenants that includes HBO Latin America, Millicom International Services, law firm Richman Greer, Banco Pichincha and CitiBank

“The addition of Diageo strengthens 396 Alhambra’s standing as the Class A address of choice for major multinational users in the Coral Gables market,” said Danet Linares, executive vice president at Blanca Commercial Real Estate, which represented Agave in the transaction.

“Diageo’s decision to relocate to Coral Gables reaffirms that the area is a vibrant business center for the greater Miami area,” said Jose Antonio Perez Helguera, managing director for Agave Holdings.

Danet Linares and Andres del Corral of Blanca Commercial Real Estate represented 396 Alhambra in the transaction, while Joe Garvey of CLW Real Estate Group represented Diageo.

Read More..

AutoNation: Back in the fast lane with expansion, higher sales

Despite an agonizingly slow economic recovery, the country’s largest auto retailer, Fort Lauderdale-based AutoNation, is thriving again as demand for vehicles expands.

The company, one of Florida’s largest, is posting increasingly strong profits and revenues. Just last week, in a sign of confidence, Autonation announced a major acquisition — buying six large auto stores in Texas — that will add about 700 employees to its national payroll of 19,400.

In announcing the deal Tuesday, which is expected to provide AutoNation with $575 million in additional revenues next year, the company’s CEO and chairman, Mike Jackson, expressed optimism about the prospects for continued growth in vehicle sales.

“You want to know what I’m thinking, look at what I do,” Jackson told viewers on CNBC’s Squawk Box program.

No information was released on the cost of the transactions, but in recent years auto dealerships sometimes sold for three to five times revenue, which would represent a significant investment for the company.

Tough times

To be sure, AutoNation has struggled through some tough times. It was battered by the Great Recession, which depressed sales and pushed the company into a $1.2 billion loss four years ago. As sales began to improve in 2010 and 2011, it was blindsided by a shortage of Japanese-made cars last year after the earthquake and tsunami in March 2011 shut down Japanese manufacturers of some essential components.

Since then, however, AutoNation has rebounded. Unit sales, revenues and profits all performed well in the first three quarters of this year, and the company expects new vehicle sales to continue their recovery nationwide, rising to the mid-14 million units this year, up from about 12.7 million in 2011. In the third quarter of 2012, AutoNation’s new car unit sales grew by 21 percent over the same period in 2011, doing better than an estimated 15 percent increase industry wide. November’s sales of new vehicles increased by 21 percent over November 2011 .

The big dealerships acquired sell Audi, Porsche, Volkswagen and Chrysler products in the Houston and Dallas-Fort Worth markets. They are expected to sell 14,000 new and used autos this year, and will add substantially to AutoNation’s future sales.

“We are in the right industry at the right time,” Jackson said during an interview. “The recovery in new vehicle sales is being driven by replacement demand,” added Jackson, who has 42 years of experience in the auto business. “The average age of the light vehicle fleet in the country has increased to 11 years, and even though cars and trucks last longer today, they can’t go on forever. About 12 to 13 million vehicles are scrapped every year and need to be replaced.”

Other factors are contributing to stronger demand for vehicles. “The population is growing, interest rates are low, there is ample credit available and manufacturers are producing a wide range of new models that offer attractive styling, power and greatly improved gas mileage,” said Jackson, who took over as AutoNation’s CEO in 1999. “Auto financing is more available than it has been in recent years. A little known fact is that people are more likely to default on a mortgage than on a vehicle loan.”

Read More..

Events showcase Miami’s growth as tech center

One by one, representatives from six startup companies walked onto the wooden stage and presented their products or services to a full house of about 200 investors, mentors, and other supporters Thursday at Incubate Miami’s DemoDay in the loft-like Grand Central in downtown Miami. With a large screen behind them projecting their graphs and charts, they set out to persuade the funders in the room to part with some of their green and support the tech community.

Just 24 hours later, from an elaborate “dojo stage,” a drummer warmed up the crowd of several hundred before a “Council of Elders” entered the ring to share wisdom as the all-day free event opened. Called TekFight, part education, part inspiration, and part entertainment, the martial arts-inspired program challenged entrepreneurs to earn points to “belt up” throughout the day to meet with the “masters” of the tech community.

The two events, which kicked off Innovate MIA week, couldn’t be more different. But in their own ways, like a one-two punch, they exuded the spirit and energy growing in the startup community.

One of the goals of the TekFight event was to introduce young entrepreneurs and students to the tech community, because not everyone has found it yet and it’s hard to know where to start, said Saif Ishoof, the executive director of City Year Miami who co-founded TekFight as a personal project. And throughout the event, he and co-founder Jose Antonio Hernandez-Solaun, as well as Binsen J. Gonzalez and Jeff Goudie, wanted to find creative, engaging ways to offer participants access to some of the community’s most successful leaders.

That would include Alberto Dosal, chairman of CompuQuip Technologies; Albert Santalo, founder and CEO of CareCloud; Jorge Plasencia, chairman and CEO of Republica; Jaret Davis, co-managing shareholder of Greenberg Traurig; and more than two dozen other business and community leaders who shared their war stories and offered advice. Throughout the day, the event was live-streamed on the Web, a TekFight app created by local entrepreneur and UM student Tyler McIntyre kept everyone involved in the tournament and tweets were flying — with #TekFight trending No. 1 in the Miami area for parts of the day. “Next time Art Basel will know not to try to compete with TekFight,” Ishoof quipped.

‘Miami is a hotbed’

After a pair of Chinese dragons danced through the audience, Andre J. Gudger, director for the U.S. Department of Defense Office of Small Business Programs, entered the ring. “I’ve never experienced an event like this,” Gudger remarked. “Miami is a hotbed for technology but nobody knew it.”

Gudger shared humorous stories and practical advice on ways to get technology ideas heard at the highest levels of the federal government. “Every federal agency has a director over small business — find out who they are,” he said. He has had plenty of experience in the private sector: Gudger, who wrote his first computer program on his neighbor’s computer at the age of 12, took one of his former companies from one to 1,300 employees.

There were several rounds that pitted an entrepreneur against an investor, such as Richard Grundy, of the tech startup Flomio, vs. Jonathan Kislak, of Antares Capital, who asked Grundy, “why should I give you money?”

Read More..

Events showcase Miami’s growth as tech center

One by one, representatives from six startup companies walked onto the wooden stage and presented their products or services to a full house of about 200 investors, mentors, and other supporters Thursday at Incubate Miami’s DemoDay in the loft-like Grand Central in downtown Miami. With a large screen behind them projecting their graphs and charts, they set out to persuade the funders in the room to part with some of their green and support the tech community.

Just 24 hours later, from an elaborate “dojo stage,” a drummer warmed up the crowd of several hundred before a “Council of Elders” entered the ring to share wisdom as the all-day free event opened. Called TekFight, part education, part inspiration, and part entertainment, the tournament-style program challenged entrepreneurs to earn points to “belt up” throughout the day to meet with the “masters” of the tech community.

The two events, which kicked off Innovate MIA week, couldn’t be more different. But in their own ways, like a one-two punch, they exuded the spirit and energy growing in the startup community.

One of the goals of the TekFight event was to introduce young entrepreneurs and students to the tech community, because not everyone has found it yet and it’s hard to know where to start, said Saif Ishoof, the executive director of City Year Miami who co-founded TekFight as a personal project. And throughout the event, he and co-founder Jose Antonio Hernandez-Solaun, as well as Binsen J. Gonzalez and Jeff Goudie, wanted to find creative, engaging ways to offer participants access to some of the community’s most successful leaders.

That would include Alberto Dosal, chairman of CompuQuip Technologies; Albert Santalo, founder and CEO of CareCloud; Jorge Plasencia, chairman and CEO of Republica; Jaret Davis, co-managing shareholder of Greenberg Traurig; and more than two dozen other business and community leaders who shared their war stories and offered advice. Throughout the day, the event was live-streamed on the Web, a TekFight app created by local entrepreneur and UM student Tyler McIntyre kept everyone involved in the tournament and tweets were flying — with #TekFight trending No. 1 in the Miami area for parts of the day. “Next time Art Basel will know not to try to compete with TekFight,” Ishoof quipped.

‘Miami is a hotbed’

After a pair of Chinese dragons danced through the audience, Andre J. Gudger, director for the U.S. Department of Defense Office of Small Business Programs, entered the ring. “I’ve never experienced an event like this,” Gudger remarked. “Miami is a hotbed for technology but nobody knew it.”

Gudger shared humorous stories and practical advice on ways to get technology ideas heard at the highest levels of the federal government. “Every federal agency has a director over small business — find out who they are,” he said. He has had plenty of experience in the private sector: Gudger, who wrote his first computer program on his neighbor’s computer at the age of 12, took one of his former companies from one to 1,300 employees.

There were several rounds that pitted an entrepreneur against an investor, such as Richard Grundy, of the tech startup Flomio, vs. Jonathan Kislak, of Antares Capital, who asked Grundy, “why should I give you money?”

Read More..

Miami Beach Walgreens property sold for $30 million

Marcus & Millichap Real Estate Investment Services said Friday that it has arranged a $30 million sale of a 22,857-square foot Walgreens drugstore at 5th Street and Collins Avenue in Miami Beach. The price, which equates to $1,312 per square foot, is the second highest paid for a drugstore in the United States this year, the real estate firm said.

Trans World Entertainment Corp. was the seller of the property, which was purchased by an unnamed international investor, who paid all cash, Marcus & Millichap said.

Walgreens will continue to lease the property, thorugh a 60-year triple-net lease that began in July 2008, with 25 years firm, the company said.

INA PAIVA CORDLE

Read More..

Macy’s to open round the clock for last minute shopper

Last minute shoppers will have a marathon opportunity to finish their holiday purchases at Macy’s during any hour of the day or night.

The department store chain announced Thursday that the majority of its stores across the country -- including South Florida -- will be open round the clock for 65 hours straight starting at 7 a.m. Friday, Dec. 21 through midnight, Sunday, Dec. 23. Macy’s will be offering a special holiday One Day Sale for 48 hours running from 7 a.m. Friday until 7 a.m. Sunday.

Macy’s began the tradition of keeping stores open 24 hours in 2006 in New York. Over the years it was offered in a couple dozen locations, but never at any stores in South Florida.

“Our customers love it,” said Melissa Goff, Macy’s southeast spokeswoman. “It’s a planned customer centric opportunity that we’re rolling out nationwide.”

Read More..

Innovate MIA puts spotlight on startup community

If you think the next week is all about art, you may be surprised to learn there are also six entrepreneurship events vying for your time.

And that is all by design.

In much the way that Art Basel helped put Miami’s arts community on the international map, organizers of the first Innovate MIA hope their weeklong grouping of events will shine a light on the city’s growing tech startup community and its position as the gateway to Latin America.

Many of the events — ending with Florida International University’s Americas Venture Capital Conference — are after Art Basel. That’s also why the third annual AVCC was moved to Dec. 13-14 from its previous mid-November dates.

“Our message is come for Art Basel, and stay for AVCC,” said Juan Pablo Cappello, a lawyer, entrepreneur and investor who is on the steering committee of the venture capital conference and several other Innovate MIA events. And all week, there will be plenty of opportunities for Miami’s entrepreneurs, creatives and investors to mingle with their counterparts from all over the Americas and beyond.

In addition to the AVCC, there’s Incubate Miami’s DemoDay, where its class of startups present their companies, the martial arts-inspired TekFight and HackDay, which dangles a $50,000 cash prize. Endeavor, the global nonprofit that promotes high-impact entrepreneurship in emerging economies, is bringing its two-day International Selection Panel to Miami, and Wayra, an international accelerator, is holding a one-day event to showcase its promising startups from Latin America and Spain. It’s all part of Innovate MIA week: “I don’t think anything like it has ever been organized here in South Florida,” Cappello said.

The AVCC will be the big draw, with about 300 people expected to attend the two-day event at the JW Marriott Brickell. The conference, themed “Data, Design & Dollars,” will feature thought leaders from all over the world, particularly Latin America, and presentations by 29 selected companies. This year, the format has been overhauled and energized, with lots of short talks and more time for question-and-answer sessions and networking, said Jerry Haar, associate dean of FIU’s College of Business, director of the Pino Global Entrepreneurship Center and AVCC co-chair.

The AVCC’s 36 speakers include Martin Varsavsky, Argentine tech entrepreneur, investor and founder of Viatel, Ya.com, Jazztel and FON; Hernan J. Kazah, co-founder and managing partner at Kaszek Ventures and co-founder of Mercadolibre; and Jason L. Baptiste, CEO and co-founder of Onswipe. There’s also Michael Jackson, former COO of Skype and now a venture capitalist; Albert Santalo, founder and CEO of Miami-based CareCloud; and Bedy Yang of 500 Startups.

Chosen from more than 100 applicants, the 29 presenting companies hailing from all over the Americas will be giving either two-minute or five-minute pitches, fielding questions from a panel of judges and competing for prize packages valued at about $50,000. Eight of the startups are from South Florida: itMD, Kairos, Trapezoid Digital Security, Esenem, LiveNinja, OnTrade, Rokk3r Labs and Zavee.

The presenting companies have “proven innovation, proven management teams and the ability to scale well and be a pan-regional player,” said Faquiry Diaz Cala, president of Tres Mares Group and co-chair of AVCC. “The word is out this is a great place to come and pitch to great investors in addition to potentially being one of the prize winners.”

Read More..

The business behind the artist: Miami’s art gallery scene still evolving

This week, thousands of art collectors, museum trustees, artists, journalists and hipsters from around the globe will arrive for the phenomenon known as Art Basel Miami Beach. The centerpiece of the week: works shown at the convention center by more than 260 of the world’s top galleries.

Only two of those are from Miami.

While Art Basel has helped transform the city’s reputation from beach-and-party scene to arts destination in the years since its 2002 Miami Beach debut, the region’s gallery identity is still coming into its own.

“Certainly Miami as an art town registers mightily because of the foundations, the collectors who have done an extraordinary job,” said Linda Blumberg, executive director of the Art Dealers Association of America. “I think there’s a definite international awareness there. But the gallery scene probably has a bit of a ways to go. That doesn’t mean it’s not really fascinating and interesting.”

The gallery business, especially where newer artists are concerned, is a game of risk, faith and passion. Once a gallery takes on an artist who shows promise, they become an evangelist on their behalf, showing their work in-house and at fairs, presenting it to museums and curators and potential collectors and bearing the cost of that promotion.

For contemporary artists, most galleries take work on consignment, meaning they get a cut of as much as 50 percent when works sell. While local art galleries have been growing in number and popularity in the last several years — just try to find parking during the monthly art walk in Miami’s hot Wynwood neighborhood — even some of the area’s top art dealers say that while business overall is good, they struggle in the local marketplace.

“Our problem is that we have to do lots of art fairs in order to connect with the market that we need to connect with to sell the work that we have,” said Fredric Snitzer, a Miami-Dade gallery owner for 35 years. “The better the work is, the harder it is to sell in Miami. And that ain’t good.”

A handful of serious collectors call Miami home and store their own collections in Miami, including the Braman, Rubell, Margulies and de la Cruz families. But outside a relatively small local group, many gallerists say, their clients come from other parts of the country and world.

And some gallerists point out the troubling reality that even the powerhouse Galerie Emmanuel Perrotin could not stay open in Miami for more than a few years.

“The fact that big galleries have not been able to sustain their business models in South Florida tells you we’re obviously not at this high established point,” said gallery owner David Castillo. “It’s not like we’ve arrived, let’s sit back and watch Hauser & Wirth open down the street.”

Still, Miami’s gallery business has come a long way since the early 1970s, when a few dealers on Bay Harbor Island’s Kane Concourse were selling high-end pieces but the local scene was hardly embraced.

Virginia Miller, who owns ArtSpace/Virginia Miller Galleries in Coral Gables, first opened in 1974 to showcase Florida artists, though her focus soon added an international scope. She and other longtime observers credit several factors for Miami’s transformation, including the community’s diversity, the establishment of important museums, the Art Miami fair that started 23 years ago, the presence of major collections and, of course, Art Basel Miami Beach.

Read More..

The business behind the artist: Miami’s art gallery scene still evolving

This week, thousands of art collectors, museum trustees, artists, journalists and hipsters from around the globe will arrive for the phenomenon known as Art Basel Miami Beach. The centerpiece of the week: works shown at the convention center by more than 260 of the world’s top galleries.

Only two of those are from Miami.

While Art Basel has helped transform the city’s reputation from beach-and-party scene to arts destination in the years since its 2002 Miami Beach debut, the region’s gallery identity is still coming into its own.

“Certainly Miami as an art town registers mightily because of the foundations, the collectors who have done an extraordinary job,” said Linda Blumberg, executive director of the Art Dealers Association of America. “I think there’s a definite international awareness there. But the gallery scene probably has a bit of a ways to go. That doesn’t mean it’s not really fascinating and interesting.”

The gallery business, especially where newer artists are concerned, is a game of risk, faith and passion. Once a gallery takes on an artist who shows promise, they become an evangelist on their behalf, showing their work in-house and at fairs, presenting it to museums and curators and potential collectors and bearing the cost of that promotion.

For contemporary artists, most galleries take work on consignment, meaning they get a cut of as much as 50 percent when works sell. While local art galleries have been growing in number and popularity in the last several years — just try to find parking during the monthly art walk in Miami’s hot Wynwood neighborhood — even some of the area’s top art dealers say that while business overall is good, they struggle in the local marketplace.

“Our problem is that we have to do lots of art fairs in order to connect with the market that we need to connect with to sell the work that we have,” said Fredric Snitzer, a Miami-Dade gallery owner for 35 years. “The better the work is, the harder it is to sell in Miami. And that ain’t good.”

A handful of serious collectors call Miami home and store their own collections in Miami, including the Braman, Rubell, Margulies and de la Cruz families. But outside a relatively small local group, many gallerists say, their clients come from other parts of the country and world.

And some gallerists point out the troubling reality that even the powerhouse Galerie Emmanuel Perrotin could not stay open in Miami for more than a few years.

“The fact that big galleries have not been able to sustain their business models in South Florida tells you we’re obviously not at this high established point,” said gallery owner David Castillo. “It’s not like we’ve arrived, let’s sit back and watch Hauser & Wirth open down the street.”

Still, Miami’s gallery business has come a long way since the early 1970s, when a few dealers on Bay Harbor Island’s Kane Concourse were selling high-end pieces but the local scene was hardly embraced.

Virginia Miller, who owns ArtSpace/Virginia Miller Galleries in Coral Gables, first opened in 1974 to showcase Florida artists, though her focus soon added an international scope. She and other longtime observers credit several factors for Miami’s transformation, including the community’s diversity, the establishment of important museums, the Art Miami fair that started 23 years ago, the presence of major collections and, of course, Art Basel Miami Beach.

Read More..

Boat Show may block Miami’s 2016 Super Bowl bid

This winter, the biggest NFL match-up in South Florida might be Super Bowl versus Boat Show.

As South Florida readies a bid for the 2016 Super Bowl, it must contend with a major potential conflict on the tourism calendar. The National Football League may move the Super Bowl to Presidents’ Day weekend, already home to the five-day Miami International Boat Show since the 1940s.

It’s a significant enough conflict that, in the past, local tourism officials have declined to pursue a Super Bowl if it fell on boat show weekend. But this time around they may have no choice. For the first time, the NFL is requiring that potential host cities agree to a Presidents’ Day weekend Super Bowl if they want to pursue the big game at all, said two people who have seen the NFL request for Super Bowl bids.

The NFL “invited South Florida [to bid] knowing there was going to be an issue with Presidents’ Day weekend and the boat show,” said Nicki Grossman, Broward’s tourism director. “In the past, South Florida has not responded to a Super Bowl date that included Presidents’ Day weekend. This package is different.”

South Florida vies with New Orleans as the top Super Bowl host, with government and tourism leaders touting the game as both a boon to the economy and a publicity bonanza. But the notion of accommodating both Super Bowl and boat show — not to mention a major arts festival in Coconut Grove — strikes some top tourism officials as a bad idea.

“There is not sufficient hotel inventory available in Miami that weekend to host a Super Bowl,” said William Talbert, president of the Greater Miami Convention and Visitors Bureau. “We have taken a close look at that weekend, and it’s not physically possible in Miami to host Super Bowl during the Presidents’ Day weekend because of the boat show and the Coconut Grove Arts Festival. The hotel inventory is all being used for these two great events.”

His comments are at odds with the region’s top Super Bowl organizer and reflect the burden that the boat show may be to South Florida’s Super Bowl hopes for 2016 and 2017. The NFL invited Miami and San Francisco to bid for the 2016 Super Bowl by April 1, with the loser vying with Houston for the 2017 game. Talbert said the bid package states both decisions will be made in May.

For now, South Florida’s Super Bowl organizers face a largely hypothetical challenge, because the current NFL schedule has the Super Bowl occurring two weeks before Presidents’ Day weekend. The bid requirements for the ’16 and ’17 Super Bowls include three consecutive weekends as possibilities for the game, with the latest falling on the Presidents’ Day holiday.

Still, possible logistical hurdles may combine with political obstacles if the Miami Dolphins resume their push for a tax-funded renovation of Sun Life Stadium, the Super Bowl’s South Florida home.

Last year, the Dolphins proposed that Broward and Miami-Dade counties subsidize a $225 million renovation at Sun Life as a way to keep the region competitive for Super Bowls and other large events. The renovation includes a partial roof that would prevent the kind of drenching Super Bowl spectators suffered in 2007 when a rare February downpour hit Miami Gardens.

Read More..

Boat Show may block Miami’s 2016 Super Bowl bid

This winter, the biggest NFL match-up in South Florida might be Super Bowl versus Boat Show.

As South Florida readies a bid for the 2016 Super Bowl, it must contend with a major potential conflict on the tourism calendar. The National Football League may move the Super Bowl to Presidents’ Day weekend, already home to the five-day Miami International Boat Show since the 1940s.

It’s a significant enough conflict that, in the past, local tourism officials have declined to pursue a Super Bowl if it fell on boat show weekend. But this time around they may have no choice. For the first time, the NFL is requiring that potential host cities agree to a Presidents’ Day weekend Super Bowl if they want to pursue the big game at all, said two people who have seen the NFL request for Super Bowl bids.

The NFL “invited South Florida [to bid] knowing there was going to be an issue with Presidents’ Day weekend and the boat show,” said Nicki Grossman, Broward’s tourism director. “In the past, South Florida has not responded to a Super Bowl date that included Presidents’ Day weekend. This package is different.”

South Florida vies with New Orleans as the top Super Bowl host, with government and tourism leaders touting the game as both a boon to the economy and a publicity bonanza. But the notion of accommodating both Super Bowl and boat show — not to mention a major arts festival in Coconut Grove — strikes some top tourism officials as a bad idea.

“There is not sufficient hotel inventory available in Miami that weekend to host a Super Bowl,” said William Talbert, president of the Greater Miami Convention and Visitors Bureau. “We have taken a close look at that weekend, and it’s not physically possible in Miami to host Super Bowl during the Presidents’ Day weekend because of the boat show and the Coconut Grove Arts Festival. The hotel inventory is all being used for these two great events.”

His comments are at odds with the region’s top Super Bowl organizer and reflect the burden that the boat show may be to South Florida’s Super Bowl hopes for 2016 and 2017. The NFL invited Miami and San Francisco to bid for the 2016 Super Bowl by April 1, with the loser vying with Houston for the 2017 game. Talbert said the bid package states both decisions will be made in May.

For now, South Florida’s Super Bowl organizers face a largely hypothetical challenge, because the current NFL schedule has the Super Bowl occurring two weeks before Presidents’ Day weekend. The bid requirements for the ’16 and ’17 Super Bowls include three consecutive weekends as possibilities for the game, with the latest falling on the Presidents’ Day holiday.

Still, possible logistical hurdles may combine with political obstacles if the Miami Dolphins resume their push for a tax-funded renovation of Sun Life Stadium, the Super Bowl’s South Florida home.

Last year, the Dolphins proposed that Broward and Miami-Dade counties subsidize a $225 million renovation at Sun Life as a way to keep the region competitive for Super Bowls and other large events. The renovation includes a partial roof that would prevent the kind of drenching Super Bowl spectators suffered in 2007 when a rare February downpour hit Miami Gardens.

Read More..

Gift ideas for the techie on your list

The holidays are coming fast, and if you’re like me, you’ve probably gotten very little of your gift shopping done.

Here are suggestions for a variety of gifts for the techie and the not-so-techie people on your list.

Some of these items can be found in stores and some are only available online, but you should be able to order them in time for Christmas or Hanukkah.

IOMEGA EZ MEDIA & BACKUP CENTER

What is it? A hard drive that lives on your home network so you can share files, store all your photos and music and back up your home computers. Works on Macintosh, Windows and Linux computers.

The EZ Media & Backup Center is available in 1-, 2- and 3-terabyte capacities. It is simple to set up. It lives next to your home router and plugs into the network via Ethernet.

Major features include a built-in iTunes server so your music is available to all connected computers, Time Machine support for easy Macintosh backups and Iomega’s Personal Cloud to access your data from any Internet connection.

It can also stream your video files to your TV if you’ve got a compatible streaming box or an Internet-connected TV.

Software for backing up Windows PCs is also included.

Who’s it for? Any family that wants central storage for their digital lives. This is a great home for your digital photo, music or video library.

What does it cost? One terabyte for $169.99, two terabytes for $209.99, three terabytes for $279.99.

Where can you get it? Online at www.iomega.com, Amazon, Best Buy, Apple store, Fry’s.

NETATMO URBAN WEATHER STATION

What is it? A wireless indoor/outdoor weather station that displays through an application on your Apple or Android mobile device.

There are two parts, one that lives in your house and one you place outside.

The indoor component plugs into the wall and monitors the temperature, humidity, barometric pressure, carbon dioxide level and even the sound level in decibels.

The outdoor module is battery-powered and measures temperature and humidity.

Once you connect the Netatmo to your home Wi-Fi network, you can download the free app and see your weather stats from anywhere.

Setup was easy enough, and you can set the app to notify you when carbon dioxide rises to levels that you should be warned about — which is great.

Who’s it for? Weather geeks and people who like to know what the temperature is without having to fire up a browser.

What does it cost? $179

Where can you get it? www.netatmo.com

3M LED ADVANCED LIGHT

What is it? 3M’s first foray into the home light bulb market is with the LED Advanced Light, which uses light-emitting diodes (LED) to produce 800 lumens (the light of a 60-watt bulb).

The Advanced Light has a life span of 25 years and costs just $1.63 per year if it’s turned on for three hours per day.

The bulb lights instantly and is dimmable.

It’s a little intimidating to start buying light bulbs that might outlive me, but my wallet approves.

Who’s it for? Anyone who wants to save money or wants a bulb that might not have to be changed until 2035.

What does it cost? $25

Where can you get it? Select Wal-Mart stores. For more information, go to www.3mlighting.com/LED.

STEM IZON 2.0 WI-FI VIDEO MONITOR

What is it? A small, wireless video camera that you can monitor remotely with an iOS device.

Read More..

Case-Shiller: Miami, U.S. home prices up again

The good news keeps coming for housing.

Miami area home prices rose 7.4 percent in September from a year earlier, according to the S&P/Case-Shiller Home Price Indices.

Home prices in Miami inched up 0.1 percent in September from August, the report, issued by S&P Dow Jones Indices, said. Seasonally adjusted, Miami posted a 0.3 percent gain in home prices in September from August.

Miami, which was among the hardest hit areas in the nation in the housing downturn, has shown price increases for 11 consecutive months, while nationally prices have been on a six-month streak of increases.

The national index showed a 3.6 percent gain in home prices for the third quarter compared with a year earlier.

Seventeen of 20 Metropolitan Statistical Areas, or MSAs, and both the 10-city composite and 20-city composite issued by S&P/Case-Shiller showed higher prices.

The report said Phoenix continues to be the top performer, with a 20.4 percent annual increase in home prices. Atlanta broke a 26-month streak of annual price declines, posting a 0.1 percent annual increase in home prices September, according to the Case-Shiller data.

Case-Shiller indexes are designed to show the price change of typical single-family homes in an area and nationally. Each index tracks matched price pairs for thousands of homes.

Read More..