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Talk of the bay: Fund, Odyssey set sail on new stock journey
By Times Staff
Published June 29, 2007
What's good for the shareholder apparently is good for the shareholdee. In a bid to tap American investors, British hedge fund GLG Partners said Monday that it plans to go public in the United States this year. Meanwhile, Tampa treasure hunter Odyssey Marine Exploration Inc. said Thursday that it will transfer its stock next month from the American Stock Exchange to the more prestigious Nasdaq Stock Exchange, a move the company said would increase its liquidity and exposure. The connection? With a 9.9 percent stake, GLG is Odyssey's largest shareholder. Dibs on seats for Southwest flights? Customers who hate Southwest's open seating, a.k.a. the cattle car, might get their wish for an assigned seat soon. Chief executive Gary Kelly said the airline will announce "a new boarding/seating method" by year's end. He was stingy with details. But Southwest has been testing different ways to board passengers and will have the computer capacity to assign seats in 2008. Southwest also expects to upgrade the Rapid Rewards frequent-flier program and enhance its fare structure. The changes are part of a wide-ranging plan designed to bolster sagging profits by attracting more high-paying business travelers and collecting $1-billion in additional nonticket revenue by 2010. Southwest is the largest airline at Tampa International, flying one out of every four passengers. New Tampa bank gains momentum Only eight months after opening for business, American Momentum Bank - whose powerful and deep-pocketed directors include Colliers Arnold chief Lee Arnold, University of South Florida president Judy Genshaft, Sembler Co. chairman Mel Sembler and former U.S. Sen. Connie Mack - is entering its third Florida market. The Tampa startup says its name and logo will soon appear atop a 15-story Orlando building that will house a full-service branch as well as executive offices. American Momentum has three locations in Tampa, one at Sembler's BayWalk shopping center in St. Petersburg, and one each in Sarasota and Naples.
[Last modified June 28, 2007, 23:04:24]
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