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Briefs

Talk of the bay: Sears Holdings willing to fight for restoration

By Times staff
Published November 30, 2007

Sears Holdings Corp., controlled by dealmaking hedge fund operator Edward Lampert, continues to follow an unpredictable path. First, there was his fund taking a 30 percent stake in Fort Lauderdale-based AutoNation Inc. to complement its similar stake in retailer AutoZone Inc.. Now analysts are scratching their heads at Sears' threatened bidding war for struggling 100-store Restoration Hardware Inc. Sears took a 14-percent stake in the home furnishings chain last month and said it might try to unravel the subsequent pending sale of the company to Catterton Partners, the same investment group that helped take the Tampa-based parent of Outback Steakhouse private this year. Sears said it will offer $6.75 a share for Restoration if it can take a look at the books. That's a nickel a share more than Catterton, which agreed to pay $267-million and keep the current management intact.

Stop smoking and we could save $10B
If states want to save money on Medicaid, here's a suggestion: Get beneficiaries to stop smoking. A report released Thursday estimated that Medicaid could save $10-billion nationwide over the next five years if it eliminated all smoking among its members. Florida's savings would be $346-million; highest would be New York's, at close to $1.5-billion. The study was conducted by the American Legacy Foundation, which is funded by the settlement between states and the tobacco industry.

Expect protests over power lines
The latest anti-carbon politics may deter most antinuke protests as Progress Energy Florida edges forward with its plans for a new nuclear plant in Levy County. But when it comes to laying 200 miles of high-voltage transmission lines through 10 counties, the St. Petersburg utility may face quite a few objections. In an effort to find the best routes through communities, Progress Energy on Thursday had the last in a series of three multicounty meetings meant to draw input from business leaders, planners, developers, elected officials and environmentalists in Hillsborough, Pasco, Pinellas and Polk counties. Other meetings focused on Citrus, Hernando, Lake, Levy, Marion and Sumter counties. Public meetings on the corridors will begin in January. Progress Energy spokesman Buddy Eller said specific routes will not be determined for at least a year, and the public will be given ample opportunity to comment.

[Last modified November 29, 2007, 23:02:37]