Tony DiBenedetto, chief executive of the technology consulting firm Tribridge in Tampa, was named the Tampa Bay Technology Forum's member of the year at a ceremony Thursday night.
DiBenedetto, also a founding member of the forum, was honored at the group's second annual achievement awards banquet at the Hyatt Regency in Tampa. Other winners included: TransGenex Nanobiotech, Tampa, innovation of the year; SAS 70 Solutions, Tampa, outstanding professional service award; Persystent Technologies, Tampa, entrepreneurial technology company award; Healthcare Capital Advisors, St. Petersburg, distinguished financial service award; and Gold Standard, Tampa, technology industry award.
Mortgage rates hit two-year high
Rates on 30-year mortgages jumped to the highest level in more than two years this week as financial markets grew more concerned about inflation. Mortgage giant Freddie Mac reported Thursday that the nationwide average for 30-year, fixed-rate mortgages rose to 6.36 percent, up from 6.31 percent last week. That was the highest level since 30-year mortgages were at 6.44 percent in early September 2003.
Trade deficit hits record levels
The trade deficit surged to a record in September as oil imports hit an all-time high, driven up by hurricane-related shutdowns of Gulf Coast production. The Commerce Department reported Thursday that September's trade deficit was a record $66.1-billion, 11.4 percent higher than August. Analysts blamed much of the rise on Hurricanes Katrina and Rita, which shut down production at Gulf Coast refineries and pushed oil prices to new highs.
Global Information defends its practices
Global Information Group of Temple Terrace defended its data-collection techniques, saying in a statement Thursday that it utilizes "lawful and permissible procedures." The company was sued last week by Verizon Wireless, which accused the private investigative company of improperly obtaining its customers' confidential information. Verizon Wireless obtained a temporary restraining order in Hillsborough Circuit Court, and sheriff's deputies seized files from Global this week.
Investor turns up heat on Knight Ridder
The largest shareholder in Knight Ridder Inc. is turning up the pressure on the newspaper publisher, saying in a regulatory filing Thursday that it may nominate a slate of directors at the company's annual meeting next year. Private Capital Management LP, an investment firm based in Naples, said it was considering options to boost the value of its 19 percent stake in Knight Ridder after seeing only a "limited response" to the "serious concerns" about the company raised by PCM and other shareholders. PCM is demanding that Knight Ridder put itself up for sale.
Publix board recommends stock split
LAKELAND - The board of directors of Publix Super Markets Inc. has voted to recommend stockholders approve an increase in the company's authorized shares to allow for a 5-for-1 split of its stock. The stockholder vote is scheduled for Publix's annual meeting in April.
"The proposed stock split reflects the achievements of our associates in delivering premier customer service. It is that dedication to customer service that has made us successful for more than 75 years," said Publix CEO Charlie Jenkins Jr.
If Publix's stockholders approve an increase in the authorized shares, the effective date of the stock split will be July 1.
Publix's last stock split was in 1992, which was a 5-for-1 split.
Publix is owned by its 133,000 employees. The company has 867 stores in Florida, Georgia, South Carolina, Alabama and Tennessee.
Fannie Mae reveals more errors, names new official
WASHINGTON - Mortgage giant Fannie Mae, struggling to untangle its accounting in an $11-billion scandal, disclosed Thursday that new errors have been uncovered as it reached outside the company to hire a new finance chief.
The government-sponsored company, which finances one of every five home-mortgage loans in the United States, also named a new chief operating officer as it again missed a regulatory deadline for filing a financial report - this time for the third quarter. Fannie Mae hasn't filed an earnings report since late last year.
The new chief financial officer, Robert T. Blakely, is executive vice president and CFO of MCI Inc.
In a filing with the Securities and Exchange Commission, which has ordered the company to restate earnings back to 2001, Fannie Mae affirmed previous estimates that the correction will total about $11-billion.
Tenn. to get Nissan's American headquarters
NASHVILLE, Tenn. - Nissan Motor Co. said Thursday it is moving its North American headquarters and nearly 1,300 jobs from California to the Nashville area to take advantage of the lower cost of doing business in the South.
"We're coming to Tennessee," Nissan CEO Carlos Ghosn told a state Capitol news conference attended by Gov. Phil Bredesen and other top state officials.
Industry analysts say the move from Gardena, Calif., to the fast-growing suburb of Franklin, Tenn., will bolster the South's standing as auto center and save the company money from favorable tax incentives and the low cost of living. It could also threaten Southern California's dominance as the American hub for Japanese automakers. Nissan's Ghosn said the first employees will transfer to Tennessee next summer and work out of temporary offices until the $70-million headquarters is completed, expected by 2008.
EARNINGS
Target Corp.: The nation's No. 2 discount chain reported an 18 percent drop in earnings versus a year ago when a one-time gain inflated its profits, but the retailer still beat Wall Street expectations.
Delta Air Lines: The Atlanta airline, operating under bankruptcy court protection, posted a wider loss as its average jet-fuel price surged 52 percent.
Dell Inc.: The world's largest personal computer maker's income fell on repair and restructuring charges, disappointing Wall Street for a second straight quarter.
Digital Lightwave Inc.: The Clearwater maker of fiber-optic testing equipment reported continued losses on a 96 percent increase in revenue for the quarter ended Sept. 30.
