Talk of the bay
By TIMES WIRES
Published February 1, 2007
PEARLMAN THE PITCHMAN SUED BY ANOTHER BANK
Bank of America is suing to foreclose on Church Street Station, the Orlando retail, entertainment and office complex owned by music producer Lou Pearlman. The bank says he has defaulted on $25.6-million in debt and wants a receiver appointed to protect the property. Pearlman brought fame to the Backstreet Boys and *NSYNC, but was unable to revive the night life that once made the Church Street complex a major attraction. Pearlman is facing more than $100-million in assorted bank lawsuits, as well as claims from investors in a savings program now under state investigation. But neither his legal woes nor the recent seizure of his private jet for bad debts have kept him grounded. WESH-TV in Winter Park reports that Pearlman is traveling in Europe. His office won't say when he'll be back.
Basement looms for area housing
Housing sales still haven't hit bottom in the Tampa Bay area, says economist Hank Fishkind. While most of the state hit bottom last year, his Real Estate Index Forecast shows existing single-family home sales bottoming out in 2007 in Hillsborough and Pinellas counties and 2008 in Pasco County, but still declining into 2009 in Hernando County. Among Tampa Bay counties, the price outlook is most optimistic for Pinellas. Fishkind said Orlando has the state's strongest housing market, while Miami and Fort Myers have the weakest. The report is available at www.fundhomeinfo.com in the "newsroom" section.
Outback jingler changes tune
When Outback Steakhouse turned an artsy rock group's song into a catchy new jingle recently, band leader Kevin Barnes initially defended the deal. He told pitchforkmedia.com that his group, Of Montreal, would use the megachain's money to finance a "crazy, theatrical" tour. But now Barnes says he regrets the deal with Outback, which changed the lyrics to "Wraith Pinned to the Mist" and replaced its opening bass line with a didgeridoo. "When Outback approached me. ... I was pretty heavily medicated with antidepressants," he told San Diego City Beat. "The drug was helping me with all this anxiety and paranoia and this crazy depression stuff, but it made me make a bad decision."
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