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Talk of the bay: Bay area takes luxurious leap with new group

By Times Staff
Published March 4, 2008


Here's one more sign the Tampa Bay area's yen for sophisticated, top-tier products and services has matured: The Luxury Marketing Council, a global networking group of 900 companies and 1,900 executives who sell to the affluent, is organizing a local chapter. The group will meet monthly and share research, business intelligence and knowledge among top managers from the fashion, banking, yachting, health care and luxury consumer products industries. Membership is by invitation only. The Tampa Bay chapter is staging a get-acquainted breakfast for prospective members at 7:30 a.m. Wednesday at the Tampa Club. The organizing chapter director is Michelle Bauer, who helped get the Tampa Bay Technology Forum off the ground and was a co-founder of Creative TampaBay. For more information, call her firm, Common Language, at (727) 821-6102.

Raymond James likes price of stock

Raymond James Financial Inc. officials really mean it when they claim the company's stock is undervalued. The St. Petersburg firm bought back almost 1-million of its own shares in the past two weeks at an average price of $24.06. Plans are to keep buying if the price stays low. The stock closed Monday at $22.60.

Jabil boss' words help shares sink

Shares of St. Petersburg's Jabil Circuit Inc. continued to decline Monday after a Lehman Brothers analyst said the electronics manufacturing services provider is facing a "broad-based slowdown" and cited reduced orders by its customers. One worry from analysts were the recent comments from CEO Tim Main at a Goldman Sachs conference in Las Vegas. Main said the current downturn was like the 1991/1992 recession, "kind of a gradual stall, and coming to rest ... it feels to me over the last 180 days things have got progressively slower ... for the most part, it appears to me that things are eroding, and getting a little bit slower. Definitely not falling off the end of the table, the bottom is not falling out of the economy at all ... but our expectations, our internal forecasts ... have gotten a little bit more conservative." Jabil shares closed Monday at $12.59 after briefly hitting a 52-week low of $12.31.

[Last modified March 3, 2008, 23:02:24]

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