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TECO to stay put in downtown Tampa

By Times Staff
Published October 4, 2005

TECO Energy said it has signed a 20-year lease renewal that will keep its headquarters in downtown Tampa at TECO Plaza. The parent company of Tampa Electric said it looked at other sites, but preferred to stay downtown and avoid the cost and logistical problems of moving. The company declined to reveal specifics of the new lease. TECO said it is a better deal than the old one, which is being replaced although it was not scheduled to expire until 2007.

Walter acquires fire hydrant maker

Tampa's Walter Industries Inc. said Monday that it completed its $1.9-billion acquisition of Mueller Water Products. Walter announced its agreement to acquire Mueller, a Decatur, Ill., maker of fire hydrants, in June but needed to arrange financing and obtain government approval before finalizing the deal. Walter expects Mueller to boost its earnings by 20 to 24 cents per share over the first 12 months, excluding integration costs and any accounting impact. Walter builds and finances affordable homes, makes iron pipe for water transmission and mines coal and natural gas.

Danka to broaden relationship with MCI

Danka Business Systems PLC said Monday that it is broadening its relationship with MCI Inc. Danka, a British seller and servicer of photocopiers and printers with U.S. headquarters in St. Petersburg, hired MCI in July to manage its computer network, equipment and technical support operations; Danka planned to "transition" 60 employees to MCI. In a further cost-cutting move, Danka said Monday it will transition an additional 250 employees so that MCI can take over its call center operation. Danka did not return a call Monday seeking further details.

Growers get millions to fight citrus canker

Florida growers on Monday said they were pleased with the federal government's announcement that it would give $53.75-million in emergency money to fight citrus canker. State Agriculture Secretary Mike Johanns' announcement Friday came days after growers and ranchers asked him at a meeting in Davenport last week to spend more on crop disease and promote fruit and vegetable consumption. President Bush's 2006 budget also calls for $42.6-million to stop canker. It is harmless to humans, but a major threat to Florida's $9-billion citrus industry. The state has destroyed about 2.5-million trees in commercial groves and 650,000 trees in residential areas trying to stop the disease.

T-bill rates rise

Interest rates on short-term Treasury bills rose in Monday's auction to the highest levels since 2001. The Treasury auctioned $17-billion in three-month bills at a discount rate of 3.525 percent, up from 3.440 percent last week. The Treasury auctioned an additional $15-billion in six-month bills at a discount rate of 3.870 percent, up from 3.745 percent. The three-month rate was the highest since three-month bills averaged 3.550 percent on July 16, 2001. The six-month rate was the highest since 4.060 percent on April 16, 2001.

[Last modified October 4, 2005, 11:15:36]