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OF THE SOU
TH
FLORIDA BUSINESS
REPORT SOME OF THE
STORIES WE'LL BE
COVERING JET ENGINE
MAKER PRATT &
WHITNEY PLANS A
MEGABUCK
EXPANSION AT ITS
PALM BEACH COUNTY
PLANT, PIPER AIRCRAFT
IN VERO BEACH
CELEBRATES 75 YEARS
IN THE FRIENDLY SKIES
AND SOUTH FLORIDA'S
FARM CREDIT BUREAU
GETS A NEW LEADER
AFTER 30 YEARS. WE'LL
HAVE ALL THIS AND
THE TOP BREAKING
LOCAL NEWS STORIES
RIGHT AFTER THESE
MESSAGES.
(1:30 BREAK 1)
JET EGINE
NORTHERN PALM
BEACH COUNTY, PLANS
A $63 MILLION DOLLAR
EXPANSION
PRODUCTION LINE FOR
COMMERCIAL JET
ENGIINES THAT WILL
CREATE AROUND 230
NEW JOBS. THIS COULD
SOFTEN THE BLOW
FROM PROPOSED
MILITARY SPENDING
CUTS AT THE SIKORSKY
HELICOPTER PLANT
ADJACENT TO PRATT'S
COMPLEX. PRATT
CURRENTLY EMPLOYS
530 PEOPLE WHILE
SKIORSKY HAS OVER
1,000 WORKERS ON ITS
PAYROLL.
FARM CREDIT OF
FLORIDA, BASED IN
ROYAL PALM BEACH,
REVEALED IT WAS
BATTERED BY ALMOST
$5 MILLION DOLLARS
IN LOSSES FOR THE
FIRST NINE MONTHS
OF THIS YEAR. THE
BUREAU HAS CLOSE TO
A BILLION DOLLARS IN
LOAN ASSETS AND
OPERATES AS A COOP
WITH 2300 MEMBERS.
THE CREDIT BUREAU
ALSO ANNOUNCED ITS
PRESIDENT DON RICE
WILL RETIRE AFTER 30
YEARS AT THE HELM OF
THE FEDERALLY
REGULATED CREDIT
BANK, WHICH IS THE
MAJOR LENDER FOR
SOUTH FLORIDA'S VAST
AGRICULTURAL
INDUSTRY.
PALM BEACH GARDENS
DEVELOPER SID
KITSON WAS SPLASHED
ACROSS THE PAGES IN
THE LATEST ISSUE OF
FLORIDA TREND
MAGAZINE. AND THE
FEATURE STORY
COVERED KITSON'S
BOLD PURCHASE SIX
YEARS AGO OF THE
90,000 ACRE BABCOCK
RANGE SOUTHWEST OF
LAKE OKEECHOBEE
NEAR FT. MYERS.
KITSON SPUN OFF
73,000 ACRES TO THE
STATE FOR
CONSERVATION WHILE
THE REMAINING
ACREAGE IS ON THE
PLANNING BOARD.
KITSON DEVELOPED
IBIS COUNTRY CLUB IN
WEST PALM BEACH
AND CURRENTLY OWNS
1.6 MILLION SQUARE
FEET OF RETAIL
SHOPPING CENTERS.
COMING UP NEXT I
TALKED WITH
TREASURE COAST
BUSINESS CONSULTING
GURU CHRIS
MORHARDT, WHO
HEADS UP THE PHARUS
GROUP WITH PARTNER
DAVE BERNSTEIN. AND
IN AN INTERVIEW
TAPED EARLIER I
ASKED CHRIS WHAT
THE PHARUS GROUP
WAS ALL ABOUT.
CHRIS MORHARDT -
PRESIDENT AND
FOUNDER
CHRISTOPHER
MORHARDT IS THE
PRESIDENT AND
FOUNDER OF FLORIDA
BASED PHARUS GROUP,
LLC. HE RECEIVED HIS
BACHELOR OF SCIENCE
DEGREE FROM THE
UNIVERSITY OF
MASSACHUSETTS IN
AMHERST AND
CONTINUED HIS
EDUCATION IN
BUSINESS
ADMINISTRATION AND
ENTREPRENEURSHIP AT
THE UNIVERSITY OF
HARTFORD IN
CONNECTICUT. IN
ADDITION TO
MULTIPLE
ACHIEVEMENTS AND
CERTIFICATIONS IN
SMALL BUSINESS
PRACTICE, MR.
MORHARDT HAS BEEN
HONORED BY THE U.S.
SMALL BUSINESS
ADMINISTRATION (SBA)
AS YOUNG
ENTREPRENEUR OF THE
YEAR AND WAS
PRESENTED WITH TWO
TORCH AWARDS FROM
THE BETTER BUSINESS
BUREAU (BBB) FOR
BUSINESS INTEGRITY.
AS A "SERIAL
ENTREPRENEUR"
HAVING SUCCESSFULLY
STARTED, GROWN AND
SOLD MULTIPLE SMALL
BUSINESSES, MR.
MORHARDT HAS OVER
18 YEARS OF
SUCCESSFUL BUSINESS
MANAGEMENT
EXPERIENCE AND
MAINTAINS A PROVEN
STRENGTH IN BUSINESS
ANALYSIS AND
IMPLEMENTATION OF
SUCCESS STRATEGIES
FOR IMPROVED
PERFORMANCE AND
PROFITABILITY. HIS
DIVERSE BACKGROUND
EXPERIENCE LENDS TO
AN ABILITY TO
BALANCE PRACTICALITY
WITH COMPREHENSIVE
SOLUTIONS AND
PROBLEM SOLVING
SKILLS.
PHARUS GROUP
PROVIDES
ENTREPRENEURS,
SMALL TO MID-SIZED
BUSINESS OWNERS
AND PROFESSIONAL
SERVICE PROVIDERS
WITH THE TOOLS TO BE
SUCCESSFUL IN
TODAY'S ECONOMY.
EXECUTIVE LEVEL
ADVISORY SERVICES
FINANCIAL SUPPORT &
TRAINING
OPERATIONAL
SERVICES
HUMAN RESOURCE
CONSULTING
EMPLOYEE TRAINING &
DEVELOPMENT
SALES & MARKETING
INFORMATION
TECHNOLOGY
(TEASE :10)
(1:30 BREAK 2)
FORMER BOCA RATON
RESIDENT, BOSTON
RED SOX OWNER AND
COMMODITIES HEDGE
FUND TRADER JOHN
HENRY IS THROWING
IN THE TOWEL WHEN IT
COMES TO MANAGING
MONEY. HENRY'S FIRM,
WHICH OPERATES OUT
OF BOCA BOCA, WILL
RETURN 120 MILLION
DOLLARS OF
INVESTOR'S MONEY
FOLLOWING SEVERAL
YEARS OF SLUMPING
PERFORMANCE.
HENRY'S FUND
INVESTED IN
AGRICULTRUAL,
CURRENCY AND
ENERGY FUTURES
CONTRACTS AND AT
ONE TIME MANAGED A
$2.5 BILLION DOLLAR
PORTFOLIO.
BOCA RATON-BASED
OFFICE DEPOT
REVEALED THIRD
QUARTER LOSSES OF
$70 MILLION DOLLARS.
PLUS THE DISCOUNT
OFFICE RETAILER
ANNOUNCED PLANS TO
DOWNSIZE OR
RELOCATE AROUND
HALF OF ITS 1100
STORES WORLD WIDE
AFTER BEING
PRESIDENT AND
FOUNDER OF FLORIDA
BASED PHARUS GROUP,
LLC. HE RECEIVED HIS
BACHELOR OF SCIENCE
DEGREE FROM THE
UNIVERSITY OF
MASSACHUSETTS IN
AMHERST AND
CONTINUED HIS
EDUCATION IN
BUSINESS
ADMINISTRATION AND
ENTREPRENEURSHIP AT
THE UNIVERSITY OF
HARTFORD IN
CONNECTICUT. IN
ADDITION TO
MULTIPLE
ACHIEVEMENTS AND
CERTIFICATIONS IN
SMALL BUSINESS
PRACTICE, MR.
MORHARDT HAS BEEN
HONORED BY THE U.S.
SMALL BUSINESS
ADMINISTRATION (SBA)
AS YOUNG
ENTREPRENEUR OF THE
YEAR AND WAS
PRESENTED WITH TWO
TORCH AWARDS FROM
THE BETTER BUSINESS
BUREAU (BBB) FOR
BUSINESS INTEGRITY.
AS A "SERIAL
ENTREPRENEUR"
HAVING SUCCESSFULLY
STARTED, GROWN AND
SOLD MULTIPLE SMALL
BUSINESSES, MR.
MORHARDT HAS OVER
18 YEARS OF
SUCCESSFUL BUSINESS
MANAGEMENT
EXPERIENCE AND
MAINTAINS A PROVEN
STRENGTH IN BUSINESS
ANALYSIS AND
IMPLEMENTATION OF
SUCCESS STRATEGIES
RED SOX OWNER AND
COMMODITIES HEDGE
FUND TRADER JOHN
HENRY IS THROWING
IN THE TOWEL WHEN IT
COMES TO MANAGING
MONEY. HENRY'S FIRM,
WHICH OPERATES OUT
OF BOCA BOCA, WILL
RETURN 120 MILLION
DOLLARS OF
INVESTOR'S MONEY
FOLLOWING SEVERAL
YEARS OF SLUMPING
PERFORMANCE.
HENRY'S FUND
INVESTED IN
AGRICULTRUAL,
CURRENCY AND
ENERGY FUTURES
CONTRACTS AND AT
ONE TIME MANAGED A
$2.5 BILLION DOLLAR
PORTFOLIO.
BOCA RATON-BASED
OFFICE DEPOT
REVEALED THIRD
QUARTER LOSSES OF
$70 MILLION DOLLARS.
PLUS THE DISCOUNT
OFFICE RETAILER
ANNOUNCED PLANS TO
DOWNSIZE OR
RELOCATE AROUND
HALF OF ITS 1100
STORES WORLD WIDE
AFTER BEING
PRESSURED FOR THE
CUTBACKS BY A NEW
ACTIVIST
SHAREHOLDER WHO
HOLDS A 15% STAKE IN
THE COMPANY. THE
RETAILER EMPLOYS
AROUND 1100 PEOPLE
AT THE BOCA
HEADQUARTERS SITE.
ALSO ON THE STREET
WERE RUMORS OFFICE
DEPOT MAY MERGE
WITH OFFICE MAX.
AND IN A RELATED
MATTER, OFFICE DEPOT
IS NOT ONLY
DOWNSIZING STORES
TO CUT COSTS IT ALSO
BAILED OUT ON ITS $10
MILLION DOLLARS
SPONSORSHIP OF
NASCAR RACING
CHAMP TONY
STEWART. OFFICE
DEPOT HAD SIGNED A
MULTI-YEAR DEAL
WITH STEWART TO
PICK UP HALF THE
NORMAL $20 MILLION
SPONSORSHIP PRICE
TAG. AS A SIDE BAR,
NASCAR IS SUFFERING
A PROLONGED SKID IN
ATTENDANCE AND
SPONSOR DEFECTIONS,
WHICH COULD LEAD TO
THE CUTBACKS IN
RACING DATES SUCH
AS SOUTH FLORIDA'S
HOMESTEAD RACING
COMPLEX, WHICH
HOSTS THE SEASON
FINALE THIS WEEKEND.
PIPER AIRCRAFT IN
VERO BEACH
CELEBRATED ITS 75TH
ANNIVERSARY LAST
WEEKEND. THE ICONIC
COMPANY MOVED TO
VERO IN 1957 AND HAS
BEEN A VITAL PART OF
VERO'S ECONOMIC
ENGINE EVERY SINCE.
SO FAR THIS YEAR, THE
COMPANY HAS
DELIVERED 116
AIRPLANES WORTH
OVER $100 MILLION
DOLLARS. AFTER A
SERIES OF OWNERS
OVER THE YEARS,
PIPER IS NOW OWNED
BY THE GOVERNMENT
OF BRUNEI AND
EMPLOYS 755 PEOPLE
AT ITS VERO BEACH
PLANT SITE.
TREASURE COAST
HOME BUILDING IS ON
THE RISE AFTER BEING
IN THE DOLDRUMS FOR
THE PAST SEVERAL
YEARS DUE TO THE
HOUSING COLLAPSE.
NEW SINGLE FAMILY
HOME PERMITS FROM
MANY TREASURE
COAST DEVELOPMENTS
FOR THE FIRST 10
MONTHS OF THIS YEAR
HAVE ALEADY TOPPED
LAST YEAR'S TOTALS.
INCREASES ARE SMALL
AND NOWHERE NEAR
THE BOOM YEARS BUT
BUILDERS ARE UPBEAT
ABOUT SHRINKING
INVENTORIES, WHICH
WILL BOOST NEW
HOME SALES.
THE MIAMI MARLINS
BASEBALL FRANCHISE
PUSHED THE SELF
DESTRUCT BUTTON ON
WEDNESDAY WHEN
THEY UNLOADED 5
STAR PLAYERS IN A
MOVE TO THE SLASH
THE TEAM'S MULTI-
MILLION DOLLAR
PAYROLL.
THE MOVE HAS
OUTRAGED FANS AND
WILL CERTAINLY CAUSE
SEASON TICKET SALES
TO PLUNGE PLUS
CAUSE GAME
ATTENDANCE AT ITS
NEW TAX PAYER
FINANCED STADIUM
TO
FALL SHARPLY. DESPITE
THE TEAM-
DISMANTLING
SCENARIO, TEAM
OWNER JEFF LORIA
WILL STILL POCKET
AROUND $20 MILLION
IN PROFITS NEXT YEAR.
STILL AHEAD ON THE
BUSINESS REPORT
THERE'S A STIMULUS
PACKAGE FOR SOUTH
FLORIDA FOOD
RETAILERS VIA JUMP IN
FOOD STAMP
RECEIPIENTS AND
BANKRUPT AMERICAN
AIRLINES PLAN A HUGE
EXPANSION AT MAIMI
INTERNATIONAL. SO
STAY WITH US.
(2:00 BREAK 3)
FITNESS TRAINING
WHEN I TALKED WITH A
63 YEAR-OLD GUY
WHO'S IN BETTER
SHAPE THAN MOST 40
YEAR OLDS. HE'S FRED
STEINBERG AND HE
RUNS A FITNESS
INSTITUTE IN BOCA
RATON CALLED THE
FACILITY. AND IN AN
INTERVIEW TAPED
EARLIER I ASKED FRED
WHAT HIS HEALTH
CENTER WAS ALL
ABOUT.
THE FACILITY IS A
TRAINING
ENVIRONMENT UNLIKE
ANY OTHER. AN
EXCLUSIVE, STATE-OF-
THE-ART, GYM THAT'S
FOCUSED SOLELY ON
PERSONAL TRAINERS
AND THE NE
EDS OF
THEIR CLIENTS, WITH
NO HYPE OR HARD
SELL. REACH YOUR
HEALTH AND FITNESS
GOALS IN THE MOST
EFFECTIVE MEANS
POSSIBLE AT THE
FACILITY.
SOMETHING AS
GROUNDBREAKING AS
THE FACILITY DOESN'T
HAPPEN OVERNIGHT. IT
IS A PRODUCT OF THE
HEARTS AND MINDS OF
A VARIETY OF
INDIVIDUALS, ALL
DEVOTING THEIR TIME
AND TALENT TO
CREATING A UNIQUE
PERSONAL FITNESS
EXPERIENCE FOR BOTH
TRAINERS AND
CLIENTS.
FIRST, THE TRAINERS
AMONG OUR GROUP
SET THE
FOUNDATIONAL
CONCEPT. SIMPLY PUT,
A PLACE WHERE TOP-
NOTCH FITNESS
PROFESSIONALS
COULD BRING THEIR
CLIENTS TO TRAIN
WITHOUT CONSTANTLY
COMPETING WITH
REGULAR MEMBERS
FOR EQUIPMENT,
FEELING IN THE WAY,
OR BEING DISTRACTED
BY CONTRADICTORY
GOALS OF THE BIG BOX
GYMS MANAGEMENT
AND THEIR MONTHLY
QUOTAS!
OUR UNIQUE CONCEPT
300X263 OUR UNIQUE
CONCEPT
OUR TEAM OF MEDICAL
PROFESSIONALS AND
FITNESS EXPERTS
SELECTED THE SPECIFIC
MIX OF STATE-OF-
THE-ART EQUIPMENT
THAT CAN FULFILL ANY
CLIENT'S HEALTH AND
FITNESS
REQUIREMENTS. YOU
WILL FIND NO
BETTER-EQUIPPED
FACILITY IN SOUTH
FLORIDA.
GUARANTEED.
WHETHER YOUR AIM IS
TO SLIM AND TRIM,
EXCEL AND PERFORM
BETTER AT YOUR SPORT
OF CHOICE, OR GAIN
SOME SERIOUS
MUSCLE, THE FACILITY
HAS BOTH THE VERY
BEST EQUIPMENT AND
PERSONAL TRAINERS
TO MAKE YOUR GOALS
A REALITY.
HOW WE'RE DIFFERENT
NO INITIATION FEES
NO MONTHLY
MEMBERSHIP FEES
OUR TRAINERS ARE
FULLY-CERTIFIED,
LICENSED AND
INSURED.
WE ARE NOT A GYM
WHERE YOU ARE LEFT
ON YOUR OWN. YOU
ARE AT ALL TIMES
ACCOMPANIED AND
SUPERVISED BY YOUR
PERSONALLY SELECTED
TRAINER. BRING YOUR
OWN OR USE OURS.
OUR PROGRAMS ARE
EXCLUSIVELY
DESIGNED FOR YOUR
SPECIF
IC GOALS AND
MADE TO FIT ANY
BUDGET.
THOSE WHO HAVE
NEVER EXPERIENCED
PERSONAL TRAINING
WILL BE POWER
MATCHED TO A HIGHLY
QUALIFIED TRAINER
WHO CAN CRAFT A
UNIQUE PLAN THAT
HELPS THEM MEET
THEIR SPECIFIC HEALTH
AND FITNESS GOALS.
THE ONLY PEOPLE
TRAINING IN THE
FACILITY ARE OTHERS
LIKE YOU WHO WANT
TO LOOK, FEEL AND BE
HEALTHY AND WHO
ARE ONLY WORKING
OUT WITH THEIR
PERSONAL TRAINER.
COME SEE HOW ALL OF
THESE ELEMENTS FIT
TOGETHER IN ONE
UPSCALE, AMENITY-
PACKED
ENVIRONMENT.
WE OFFER:
PROGRAMS FOR ALL
AGES & FITNESS
LEVELS
COMFORTABLE
LOUNGE AREAS
MULTI-MEDIA
CLASSROOMS
PRIVATE SHOWERS &
LOCKERS
THE FINEST, STATE-
OF-THE-ART
EQUIPMENT AND
TRAINERS
AND MUCH MORE
(TEASE :10)
(2:00 BREAK 4)
(FACTS 3 :10)
BANKRUPT AMERICAN
AIRLINES, ONE OF
SOUTH FLORIDA'S
THE-ART, GYM THAT'S
FOCUSED SOLELY ON
PERSONAL TRAINERS
AND THE NEEDS OF
THEIR CLIENTS, WITH
NO HYPE OR HARD
SELL. REACH YOUR
HEALTH AND FITNESS
GOALS IN THE MOST
EFFECTIVE MEANS
POSSIBLE AT THE
FACILITY.
SOMETHING AS
GROUNDBREAKING AS
THE FACILITY DOESN'T
HAPPEN OVERNIGHT. IT
IS A PRODUCT OF THE
HEARTS AND MINDS OF
A VARIETY OF
INDIVIDUALS, ALL
DEVOTING THEIR TIME
AND TALENT TO
CREATING A UNIQUE
PERSONAL FITNESS
EXPERIENCE FOR BOTH
TRAINERS ANDING SOME
HEAD
SCRATCHING MOVES.
WHILE THE CARRIER
ANNOUNCED IT
WOULD CHOP 1400
JOBS FROM ITS SOUTH
FLORIDA PAYROLL, ON
TUESDAY AMERICAN
REVEALED IT WOULD
BRING A RECORD
SCHEDULE TO MIAMI
INTERNATIONAL. THE
CARRIER WILL SERVE
114 DESTINATIONS
WITH 328 DAILY
FLIGHTS, A HEFTY 74%
MARKET SHARE AT
MIAMI. OVER 9,000
PEOPLE ARE EMPLOYED
AT AMERICAN.
SOUTH FLORIDA'S
FOOD RETAILERS
PICKED UP A STIMULUS
PACKAGE OF THEIR
OWN LAST MONTH.
MORE THAN 17,000
SOUTH FLORIDIANS
WENT ON FOOD
STAMPS IN OCTOBER
ADDING TO THE 1.1
MILLION ALREADY ON
THE PROGRAM IN
PALM BEACH,
BROWARD AND
MIAMI-DADE
COUNTIES. IN PALM
BEACH COUNTY ALONE,
OVER 190,000 PEOPLE
RECEIVE FOOD
STAMPS, AND THAT
WAS UP A HEFTY 14%
COMPARED TO A YEAR
AGO. SOUTH FLORIDA
ACCOUNTS FOR A
THIRD OF THE STATE'S
THREE MILLION
RESIDENTS ON FOOD
STAMPS.
THAT WRAPS UP THIS
WEEK'S EDITION OF
THE SOUTH FLORIDA
BUSINESS REPORT.
STOP BY NEXT WEEK
FOR THE ONLY SHOW
DEVOTED TO LOCAL
BUSINESS, RIGHT HERE
ON CBS 12..
(TAKE FSS CG-1!!)
FOR MORE
INFORMATION ON OUR
SHOW, TO THE SEE THE
LATEST BUSINESS
HEADLINES, OR TO
WATCH THE SHOW AT
ANY TIME, VISIT OUR
WEBSITE, S-F-B-REPORT
DOT COM. THANKS FOR
WATCHING. HAVE A
GREAT WEEK.
(CLOSE :20 LONG)
(CREDITS)
ANCHOR TOSS: IT'S FOR
THE
WOMAN WHO HAS
EVERYTHING... EXCEPT A
MAN. MORE AND MORE
WOMEN ARE NOW PAYING
MEN FOR
COMPANIONSHIP...