GLAZERS REBUT "BUSINESSWEEK': Avram Glazer, son of Tampa Bay Buccaneers owner Malcolm Glazer and president and CEO of fish oil manufacturer Zapata Corp., chastised BusinessWeek on Wednesday for a recent article suggesting Zapata was under investigation by the Securities and Exchange Commission. In a public letter to editor-in-chief Stephen Shepard, Glazer said the SEC contacted Zapata in October 2003 but "appeared to be looking into the activities of Theodore Roxford," whose takeover bids Zapata has rejected. Glazer also denied his father used Zapata stock as collateral to purchase a stake in the Manchester United soccer team. BusinessWeek spokesman Andrew Palladino declined to comment because he had not seen the letter. Zapata Corp. did not respond to requests for comment.
KFORCE ACQUISITION IN DOUBT: Kforce Inc.'s $65-million acquisition of competitor Hall Kinion & Associates, unveiled less than four months ago, is in doubt. In a filing with regulators Thursday evening, the Tampa staffing company said its board of directors was having second thoughts about the deal. No reason was provided, other than that Kforce believed that "certain conditions exist ... that have or will have a material adverse effect on Hall Kinion." The filing said Hall Kinion, in Novato, Calif., disagreed with Kforce and had suspended Kforce's access to its staff. Kforce COO Bill Sanders said his company could not provide further details. Hall Kinion officers were unavailable.
SHOPPERS KEEP STORES HOPPING: America's shoppers showed more energy in February and boosted sales at the nation's retailers by 0.6 percent, which matched economists' expectations and represented the largest increase since November. The increase reported by the Commerce Department on Thursday came after sales rose by a revised 0.2 percent gain in January, typically a slow month for retailers.
JOBLESS CLAIMS DOWN AGAIN: New claims for unemployment benefits dropped last week by a seasonally adjusted 6,000 to 341,000, a six-week low, the Labor Department said. Although companies are slowing the pace at which they are laying off workers, they haven't been in a rush to hire them back. The four-week moving average of claims, a less-volatile indicator, fell to 345,750 from 352,500, the report said.
SCRIPPS NAMES DESIGN TEAM: Scripps Research Institute of La Jolla, Calif., has selected the architectural/design team and the program manager who will develop and construct its new campus in Palm Beach County. The design team is the Zeidler Partnership of Toronto; Bohlin Cywinski Jackson, with offices in Pennsylvania, Washington and California; and Walter P. Moore, a structural engineering firm in Tampa. Program manager will be Fluor Corp. The selections are pending final negotiations. The campus is expected to open in late 2006.
RAGIN' RIBS IN TAMPA: The parent company of the new Ragin' Ribs restaurant chain has sold its first franchise to Jonathan Massie of Ruben Foods for north Hillsborough County. The company, P.D.C. Innovative Industries Inc., opened its first store in south Tampa in December. The franchisee has opened a store in Temple Terrace and plans four more in the area. P.D.C., which was founded by Jim Cheatham, a former Wendy's franchisee, expects to have 60 stores under contract by August.
ECHOSTAR, VERIZON MAKE UP: After a two-day blackout that brought the wrath of satellite television viewers by the thousands, EchoStar Communications Corp. and Viacom Inc. reached a deal that restored several popular channels such as MTV and Nickelodeon to the Dish Network. The two sides reached a deal early Thursday. Within 20 minutes, Viacom's channels were back on Dish, EchoStar spokesman Marc Lumpkin said. Meanwhile, EchoStar may have to restate its 2001 financial reports to reverse $17-million in liability accruals, the company said. Such a move may actually reduce reported losses. CEO Charlie Ergen described the situation as a difference of opinion about how to account for certain items.
FUND DISCLOSURES INCREASE: Investors in mutual funds would get detailed information on the managers of fund portfolios under a new proposal opened for public comment by the Securities and Exchange Commission as they target fund industry abuses. SEC members voted 5-0 Thursday to tentatively adopt requirements for fund companies to disclose the identities of members of portfolio management teams as well as their pay and whether they own shares in the funds they manage.
METLIFE SELLS SEARS TOWER: Insurance giant MetLife Inc. said Thursday it has agreed to sell the Sears Tower in Chicago to an unspecified buyer, ending the company's long-standing investment in the nation's tallest skyscraper. MetLife, which is based in New York, expects to close the deal in the second quarter and take a $90-million gain. MetLife spokesman John Calagna said the company entered into a confidentiality agreement with the buyer and won't disclose the price or the name of the acquiring company.
MANUFACTURING CZAR BACKS OUT: Anthony Raimondo, CEO of Behlen Manufacturing Co. in Columbus, Neb., withdrew from consideration to be President Bush's point man on manufacturing Thursday after Sen. John Kerry questioned his position on shifting U.S. jobs to foreign countries. Raimondo's withdrawal was related to Nebraska politics and not Kerry's questions, the Bush administration said. A news conference had been set for Thursday to announce a new assistant commerce secretary for manufacturing.
AMERITRADE PAYS $10-MILLION: Online discount broker Ameritrade Holding Corp. said Thursday it will pay $10-million to settle National Association of Securities Dealers complaints that it and two subsidiaries improperly extended credit to customers. Ameritrade, Datek Online Holding Corp. and Datek subsidiary iClearing had allowed some customers to use money from unsettled stock sales to buy other stocks. Regulations require cash for each stock sale, the NASD said.
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Checkers Drive-In; Restaurants Inc.: The Tampa burger chain, whose brands include Checkers and Rally's, said same-store sales grew 7.6 percent at company-owned locations and 2.9 percent at franchises in 2003. CEO Keith Sirois said the company would seek further same-store sales gains in 2004 and pursue a "realistic" plan for adding new locations.
Delhaize Group: The Belgian owner of the U.S. supermarket chains Food Lion and Kash n' Karry said fourth-quarter profit rose 4 percent, less than analysts expected, as it cut jobs and reduced interest costs by repaying debt. Figures are in euros.
