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Briefs: Progress pumps cash into state universities

Facing a nationwide shortfall of new nuclear workers, Progress Energy decided to train some, giving cash to universities throughout the state.

By Times Staff
Published February 24, 2008

Progress pumps cash into state universities

Facing a nationwide shortfall of new nuclear workers, Progress Energy decided to train some, giving cash to universities throughout the state. Educating new nuke workers isn't the only thing the St. Petersburg utility is up to with the more than $1-million it plans to donate to university programs this year. The University of Florida in Gainesville received $460,000 for its Water Institute, a program founded by Progress Energy to help address water resource issues in the state. The funding also supports a nuclear reactor training program. The University of Central Florida in Orlando will receive $416,100 for a business leadership program; the University of South Florida will receive $150,000 for its new Power Center for Utility Explorations, a program targeted toward innovative solutions to energy issues. In Ocala, the Central Florida Community College received $50,000 for a training program for technical professionals.

Rather than fudge, exec quits bank

In a lawsuit, Mark S. Williams claims he quit Bradenton-based Freedom Bank last month because, as the former senior lending officer, he was pressured to understate its problem assets. As reported by the Sarasota Herald-Tribune, Williams claims Freedom CEO Gerald Anthony and others insisted on reporting just $4-million in bad loans. Any more than that and the bank's capital level - its cushion against hard times - would slip below the "well-capitalized" levels urged by federal regulators. Anthony, the paper notes, founded Freedom in May 2005, a year after being let go at Bradenton's Coast Bank of Florida, where he was the original president/CEO. Coast ran into severe financial trouble last year with real estate lending, and regulators orchestrated a takeover by another institution.

CEOs get to defend juicy pay packages

Given Florida's front seat to the subprime mortgage mess, interest may be keen Thursday when some of the central players in the crisis are subjected to the probing questions of a congressional committee. Among the issues: the multimillion-dollar compensation packages of some CEOs. Among those slated to appear before the panel is Angelo Mozilo, CEO of Countrywide Financial, who sold off $414-million of Countrywide shares between 2004 and 2007 before the stock plummeted. Also up: Charles Prince and Stan O'Neal, who left the top posts of Citigroup and Merrill Lynch, respectively, both with hefty compensation packages.

Castro's gone, so drink cheaply

Apparently there's more ways than one for a business to capitalize on communist regime change. Fidel Castro's resignation as president of Cuba and commander-in-chief of Cuba's military last week was the cue for Ocean Key Resort in Key West to offer 90-cent Cuba Libre cocktails. General manager Matt Trahan said the special comes "in recognition of recent developments and in hopes of a 'democratic transition' in Cuba."

[Last modified February 22, 2008, 22:37:10]