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  • Web.com reports $3.6M profit in 4Q, $9.3M loss for 2011
    Web.com Group Inc. reported net income of $3.6 million in the fourth quarter, but a net loss of $9.3 million for 2011. The company had a net loss of $16.1 million in the fourth quarter of 2010. Earnings per diluted share were 8 cents for the fourth quarter of 2011, compared with a loss of 63 cents in the fourth quarter of 2010. The net loss of $9.3 million, or 30 cents per diluted share, for 2011 was 43 percent greater than the net loss of $6.5 million, or 26 cents per diluted share, for 2010. Web...


  • Ben Bernanke: Community banks improving financially
    ARLINGTON, Va. — Community banks are seeing improved financial performance despite a challenging economy, Federal Reserve chair Ben Bernanke told a conference of community bankers on Thursday. Community banks' profits have risen the past several quarters, while banks are having to set aside less to cover potential losses to their loan portfolios, Bernanke said at a conference on the future of community banks organized by the Federal Deposit Insurance Corp. That is good news for community banks -- those with assets under $1 billion-- and the communities they serve...


  • Developer confirms plans for new Northside shopping center
    The developer of the River City Marketplace has confirmed its plans to develop a new shopping center on the Northside. In its fourth quarter report Tuesday, Ramco-Gershenson Properties Trust (NYSE: RPT) said it commenced development of the first phase of Parkway Shops, adjacent to the River City Marketplace, in the fourth quarter. Ramco-Gershenson, based in Farmington Hills, Mich., developed, owns and operates the nearly 1 million square foot River City Marketplace. River City has only one vacancy, a restaurant space...


  • Dade Medical College adds Jacksonville campus
    Dade Medical College has opened a fifth campus in Jacksonville after receiving approval from the Accrediting Bureau of Health Education Schools. “I’m proud and excited to announce that Dade Medical College is coming to Northeast Florida,” Dade Medical College President and CEO Ernesto Perez said in a news release. “We look forward to bringing our outcome-based educational mission to the city of Jacksonville and to becoming part of the fabric of this community.” Enrollment is open now and classes are expected to begin at the campus, at 9550 Regency Square Blvd...


  • Southwest raises round-trip fares by $10
    Southwest Airlines has raised its round-trip fares by $10, and other airlines are likely to match the hike. MSNBC reports that the move is the third attempted fare hike of the year. Delta Air Lines (NYSE: DAL) led two fare increases in January, according to the report, but competitors matched only the first one. Other airlines are expected to follow Southwest's lead, according to the report, because every fare hike initiated by Southwest (NYSE: LUV) in the last six years has been matched. Southwest Airlines is the busiest commercial carrier at Jacksonville International Airport.

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National Business News - Local Business News | bizjournals
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  • Gibraltar Bank announces Rothstein settlement
    Gibraltar Private Bank & Trust, one of two banks where Ponzi schemer Scott Rothstein laundered money, said Thursday evening it has reached a settlement in Rothstein-related litigation with a price tag between $20 million and $70 million. The proposed settlement with bankruptcy court officials would include a $10 million payment directly from the Coral Gables-based bank, $10 million more from its insurers, and a potential $50 million in additional claims. Bank Chairman Adolfo Enriques said he hopes the settlement will be approved by by U...
  • Bill boosting incentives for filming in Colo. clears House panel
    A bill to increase the amount of incentives that Colorado offers to film production companies received rave reviews Thursday, passing out of the House Economic and Business Development Committee with a bipartisan 9-3 vote. The margin marks the most universal support that cosponsor Rep. Tom Massey, R-Poncha Springs, has received in the eight years that he has run bills designed to bring more filming of movies, television shows, commercials and video games to the state. House Bill 1286, which also is sponsored by House Minority Leader Mark Ferrandino, D-Denver, now heads to the House Appropriations Committee...
  • Newspaper: Anschutz close to buying British soccer club
    Colorado billionaire Philip Anschutz is reportedly close to buying Tottenham Hotspur Football Club, a British soccer club founded in 1882. The Daily Express newspaper is reporting that Anschutz is “close to concluding a deal” with team owner Joe Lewis, whom the paper describes as “a close friend.” The newspaper puts the price Anschutz is paying at about $697 million. Anschutz was a major backer of Major League Soccer in the United States and still owns the Los Angeles Galaxy and a majority stake in the Houston Dynamo...
  • Hawaii unemployment claims fall 6%
    Initial unemployment claims in Hawaii fell 6.1 percent last week, according to the Department of Business, Economic Development and Tourism. There were 2,026 initial jobless claims filed during the week ending Feb. 11, compared to 2,157 filed during the same week in 2011. Oahu was the only island to see an increase in jobless claims. There were 1,220 initial filings last week on Oahu, which was 4.9 percent more than the 1,163 claims filed during the same week in 2011. Kauai saw the largest decrease of the Neighbor Islands, with a 42...
  • Canadian investor takes large stake in Southcenter mall
    A Canadian pension fund investor has taken a 45 percent stake in Westfield Southcenter Mall in Tukwila. The Westfield Group, an international shopping mall owner based in Sydney, Australia, has formed a $4.8 billion joint venture with the Canada Pension Plan Investment Board. The venture gives the pension fund investor a 45 percent stake in a portfolio of 26 shopping malls in the United States, including the Southcenter property, according to a release issued by Westfield Group. As part of the deal, the Canadian institutional investor is assuming substantial property-related debt...