Tom Hudson: China’s new leaders plan quiet transition

If everything goes smoothly, you won’t hear much out of China in the new week. And that’s the way its new leaders want it. Even though the world’s second largest economy officially seats a new president and premier, the beginning of China’s parliamentary session on Tuesday comes without the usual pomp and circumstance. Instead, China’s new leaders hope to show their own version of austerity. For instance, there will be no booze at official meals.

The party leaders want a sober beginning to their terms as the hope for a more sober Chinese economy. They want to avoid any significant pronouncements that could threat China’s gentle economic recovery. The country’s biggest trading partner, Europe, continues to struggle, tensions with Japan have been rising and Chinese workers have been demanding (and in some cases getting) pay raises. Chinese home prices have heated up again as the Beijing government moved late last year to stimulate its economy.

It came after China’s economy grew at its slowest pace in 13 years. The new government knows that its political stability depends upon a steady economy. With choking air pollution, a horrendous record on food safety and sanctioned corruption, the new slate of leaders taking their seats this week would like to reduce China’s reliance on exports to fuel its economic expansion, reassure its trading partners it wants to play fair and stoke a steady and sustainable rise of living standards.

Since early December as the stimulus efforts began, the Shanghai Stock Exchange index has shot up 21 percent. Electricity production is rising and manufacturing has rebounded too. But the political volume has been muted.

Tom Hudson is a financial journalist based in Miami. He is the former co-anchor and managing editor of Nightly Business Report on public television.

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Banah Sugar company says it will pay debts

Banah Sugar’s executive director, Yurek Vásquez, said the company will make payments to the more than 200 people and companies it owes money to, after the beginning of a reorganization process supervised by a federal court was revealed.

“This is a reorganization that gives us time to pay our providers,” Vásquez said. “Our intention is to continue working with them, fulfill our duty to them.”

Vásquez spoke to El Nuevo Herald for the first time after the sugar company filed for bankruptcy last week under Chapter 11, which allows continued operations while restructuring.

On Monday, several representatives of creditors expressed outrage at Banah’s non-compliance, accusing it of making payments with checks without funds.

Vásquez, who took over the leadership at Banah in November, said that the previous administration of the company faced “management problems.”

“One of these problems was a flawed communication between the previous administration and providers,” Vásquez said. “The fact that payments were pending did not mean that they were not going to get paid, but no one heeded the providers, nobody explained a payment plan to them so they would know when they were getting paid.”

Banah’s former executive director, Diego Leiva, told El Nuevo Herald he retired from the sugar company in October after learning the background of owner Alex Pérez, who served four years in prison for cocaine trafficking.

But Vásquez said Leiva did know about Pérez’s past and the real reason he left had to do with a mutual agreement after management problems were detected.

“I came to make an evaluation of the company and, after seeing the poor performance and deficiencies, I decided to make staff changes,” Vásquez said. “Leiva agreed with the changes, which included his resignation.”

The company operates with 15 employees. He said the size of the staff would depend on growth of production and new markets.

He said Banah is “now more efficient,” with a plant that can produce 24 million bottles of liquid sugar a year. Before, it imported liquid sugar at substantial cost.

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Knight Foundation holding IdeaJam Saturday

The Knight Foundation is hosting a free Knight News Challenge IdeaJam Saturday in conjunction with a nationwide contest it is running on open government that is seeking innovative ideas to improve the way citizens and governments interact ( www.newschallenge.org) through information and technology. Winners will get a share of $5 million and support to make their projects happen. The local IdeaJam will be at 3 p.m. at The LAB Miami, 400 Northwest 26th Street in Wynwood. It’s part of a full day of activities for The LAB’s grand opening from 2 p.m. to 8 p.m., including a shark tank for entrepreneurs. To register for the IdeaJam and the grand opening events: http://cirqueducowork.eventbrite.com/

Nancy Dahlberg

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Coral Gables native Martin Zweig, Wall Street wiz, dies in Florida

A decade before he foresaw the 1987 stock market crash, Coral Gables native Marty Zweig was already considered a Wall Street wizard.

Renown business journalist Dan Dorfman called him “the country’s hottest investment adviser” in 1981, his picture appeared on the cover of Money Magazine in 1982, and he was frequent guest on the PBS financial show Wall Street Week.

He wrote two best-selling books: Winning on Wall Street, in 1986, and Winning with New IRAs, in 1987.

On Oct. 19 that year, just as Zweig had predicted three days earlier on Wall Street Week, the market plummeted 23 percent.

Zweig, whose three-story Pierre Hotel penthouse is one of New York City’s most lavish residences, died Feb. 18 at another of his homes, on South Florida’s Fisher Island. He was 70. Zweig had been treated for cancer, and underwent a liver transplant in 2010 with tissue from his younger son.

Born Martin Edward Zweig on July 2, 1942, in Cleveland, he spent his formative years growing up in Coral Gables where he was known as Marty Gateman after his widowed mother remarried.

He attended Coral Gables Elementary and Ponce de Leon Junior High schools, was a Coral Gables High School varsity basketball player and track star — class of 1960 — and 2001 Cavalier’s school Hall of Famer.

Childhood friend Richard B. Bermont, a Miami financial adviser, remembered Zweig as a great poker player even in high school, “pretty much a jokester, and the ladies loved him.’’

He legally changed his last name back to Zweig when he was 21, after his mother and Dr. Gateman divorced, said former wife Mollie Friedman.

Zweig wrote that his interest in financial began when the 1948 Cleveland Indians were playing in the World Series.

“I was the kid who knew the most about the team and had a vague idea about what batting averages mean. I had begun to love numbers. Perhaps this was a tip-off that I’d later graduate to the market.’’

He earned a bachelor’s in economics from The Wharton School of the University of Pennsylvania in 1964, later an M.B.A. from the University of Miami and a doctorate in finance from Michigan State University.

In 1984, Zweig joined with stock picker Joe DiMenna, with whom he co-founded Zweig-DiMenna Partners, their first long/short hedge fund.

Zweig also created two closed-end funds traded on the New York Stock Exchange, according to his corporate biography: The Zweig Fund in 1986 and The Zweig Total Return Fund in 1988.

In his first book, he wrote: “When playing the market, remember you must deal with probabilities, employ sensible strategies to limit risk, and get aggressive only when conditions warrant.’’

He was as quirky in his private life as he was serious about investing. Stan Smith, a Fisher Island friend, said that last year, Zweig installed a “banana yellow’’ 1934 Packard convertible in his living room.

Zweig’s memorabilia collection includes the dress Marilyn Monroe wore to sing “Happy Birthday” to President John F. Kennedy in 1962, a pair of JFK’s silk pajamas, the suits The Beatles wore on the Ed Sullivan Show in 1964, Super Bowl rings, Heisman Trophies, Oscar statuettes and Gold Records; one of the Harley-Davidson Hydra-Glide motorcycles that actor Peter Fonda rode in the film “Easy Rider;” an outfit that Jimi Hendrix wore in concert; and the booking sheet from one of Al Capone’s arrests, and a letter written by baseball legend Mickey Mantle describing a sexual encounter at Yankee Stadium.

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Hialeah sugar firm Banah files for bankruptcy

A sugar processing company that brought hype to Hialeah after it moved into a 300,000-square-foot space last July — promising to hire up to 300 workers — has filed for bankruptcy protection.

The company’s move to its new headquarters even prompted Miami-Dade County to rename a stretch of Southeast 10th Avenue “Banah Sweet Way” in honor of the company. Several local leaders, including county Mayor Carlos Giménez, attended the naming ceremony.

But late last week, the company, which is owned by a convicted drug trafficker and which had sought taxpayer benefits from a government program promoting investments, left behind a line of outraged creditors. The company had only 15 employees.

Banah Sugar International Group Inc. reported that it owed between $1 million and $10 million to a list of 232 people and companies, according to public records.

The company’s administrative director, Luis Estrada, told El Nuevo Herald on Monday that the company’s owner, Alex Pérez, was meeting with company officials and added that he was not authorized to comment on the issue.

The bankruptcy was filed under Chapter 11, which allows for an attempt to reorganize the company. It allows the company’s management to continue day-to-day operations, but the bankruptcy court must make all the company’s important decisions.

On Monday, several creditors criticized Banah’s owner for failing to make payments.

“I feel frustrated and deceived,” said Alexander A. Pérez, owner of Florida Patrol Investigators (FPI), a Hialeah company that provided security services to the company. “They sent me checks that bounced, and we sued them.”

FPI’s owner said that the company owes him close to $70,000 for security services at Banah his company at 215 SE 10th Ave.

Hialeah’s mayor, Carlos Hernández, declined to comment on the sugar company’s bankruptcy filing, but he defended renaming Southeast 10th Avenue after the company, saying that Banah had promised to make significant investments in the area.

County spokesperson Fernando Figueredo said that Giménez had attended the ceremony “in good faith,” since its intention was to highlight an investment made in a 10-acre plant where 200,000 bottles of liquid sugar were supposed to be processed every day.

“The mayor knew nothing about the company’s background,” Figueredo said. “He attended because the company was creating jobs and was being recommended to be recognized in Hialeah.”

Hiram Mendoza, an aide to County Commission Chairwoman Rebeca Sosa, said that in 2012 Banah requested to be included in a program to receive county and state financial incentives. He added, however, that Banah did not meet the goal of creating 300 jobs it had promised. “They have not received any financial aid from the state or the county,” Mendoza said. “It’s true that they asked for it, but they did not meet the goals.”

Last year, Banah executives announced it would hold a job fair.

On Monday, Estrada said the company never had a job fair. Currently it has 15 employees, he said.

In October, Francisco Alvarado, a New Times reporter, revealed that in 2001 the federal government had indicted Banah’s owner on felony charges of conspiracy of cocaine possession and possession with intent to sell. Two years before, DEA agents had arrested two men with six kilograms of cocaine hidden in a vehicle. The men declared under oath that Pérez, Banah’s owner, had handed them the drugs.

In 2003, Pérez pleaded guilty of one of the charges and served four years in a federal prison.

Diego Leiva, Banah’s former executive director, said he was surprised by the bankruptcy. “I left the company when Pérez’s past came to light,” said Leiva, who is among the company’s creditors. “I didn’t know anything about that.”

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The faces of Florida’s Medicaid system

MEDICAID

MiamiHerald.com/healthcare

The tea party governor now says he wants to expand Medicaid. The Republican Legislature isn’t so sure.

Hanging in the balance?

Access to healthcare for 1 million or more poor Floridians.

Billions of dollars in federal money.

The state budget, which already pumps $21 billion a year into care.

Florida’s Medicaid system today serves more than 3 million people, about one in every six Floridians. The decision whether to expand the system by a full third will be made by men and women in suits in Tallahassee’s mural-filled chambers this spring.

But the impact is elsewhere, in children’s hospitals in Tampa and Miami, in doctors’ offices in New Port Richey and in the home of a woman who recently lost her full-time teaching job.

The Suddenly uninsured

This was not how she envisioned her 60s.

Jean Vincent dreamed of turning her five-bedroom home into a bed and breakfast. She painted murals on walls, created mosaics on floors and let her imagination guide the interior decorating. There is a “garden” room, a “bamboo” room and a “canopy” room.

In 2010, Vincent lost her full-time job teaching in Citra north of Ocala. Her mother became sick with cancer and needed around-the-clock care before dying in August. Then, doctors began prescribing Vincent costly medications to treat osteoporosis and early-onset diabetes.

“I started getting a little behind with my mortgage,” said Vincent, 61. “All of a sudden, I found out I had to have an emergency retina eye surgery.”

Today, Vincent is searching for roommates to move into her home and help pay the bills. She begs Gainesville’s Sante Fe Community College and City College to schedule her for as many classes as she can handle as an adjunct geography professor; this semester’s four is the most she’s ever had.

But her biggest worry? Not having comprehensive healthcare.

Vincent — who is too young for Medicare — is enrolled in CHOICES, a health services program the Alachua County government created for the uninsured. It covers preventative care like her flu shots and helps with her drug therapy. But if Vincent ever got so sick she needed to go to the hospital, she’d be on her own.

Under current Florida law, adults with no dependents are not eligible to participate in Medicaid no matter how little they make. Vincent’s four children are all grown, which means even as her income has dwindled she can’t become eligible for the health insurance program run jointly by the federal and state governments.

If Florida decides to expand the Medicaid system, people in Vincent’s position for the first time could be covered.

The expansion would allow any single adult making about $16,000 a year eligible for Medicaid.

On the matter, Vincent has become an activist. She joined with patient rights group Florida CHAIN and traveled to Tallahassee to lobby lawmakers.

“When I gave my testimony, that’s all I wanted them to do was see there were people out there that weren’t just trying to take advantage of the system,” she said.

This summer, she expects to only be assigned one class at Sante Fe. That will provide about $2,000 for her to live on for three months. Meanwhile, her retirement dreams are put on hold.

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South Florida hospitals could lose $368 million from sequestration

A detailed survey shows that South Florida hospitals could lose $368 million over 10 years in federal budget cuts starting next Friday, if the sequestration program kicks in as scheduled.

The Florida Hospital Association, using data from the American Hospital Association, estimates that over the next decade, sequestration would cause Miami-Dade hospitals to lose $223.9 million and Broward facilities $144.4 million under the Congress-mandated budget cuts that hit virtually all federal programs unless Republicans and Democrats can work out a compromise.

The New York Times and other national news organizations are reporting that sequestration, unlike the New Year’s fiscal cliff, seems virtually certain to take place.

The law requires across-the-board spending cuts in domestic and defense programs, with certain exceptions. Because healthcare represents more than one in five dollars of the federal budget, it will be a huge target for cuts.

For hospitals and doctors, the major impact will be felt in Medicare cuts, which according to the budget law are limited to 2 percent of Medicare payments. Medicaid, food stamps and Social Security are exempted from cuts, according to the Bipartisan Policy Center.

The FHA study calculates that over 10 years, Jackson Memorial Hospital stands to lose $30.6 million, Mount Sinai Medical Center on Miami Beach $27.3 million, Holy Cross in Fort Lauderdale $23.8 million and Memorial Regional Hospital in Hollywood $21.4 million.

“The problem with sequestration is that it just makes broad cuts across the board,” said Linda Quick, president of the South Florida Hospital and Healthcare Association. “The Affordable Care Act is looking at all sorts of intelligent ways to reduce costs,” including coordinated care that will stop duplicated tests and reduce hospital readmissions. “But sequestration takes an ax, and that doesn’t make any sense.”

FierceHealthcare, which produces trade publications, says sequestration cuts over the next decade will include $591 million from prescription drug benefits for seniors, $318 million from the Food and Drug Administration, $2.5 billion from the National Institutes of Health, $490 million from the Centers for Disease Control and $365 million from Indian Health Services.

The National Association of Community Health Centers estimates that 900,000 of its patients nationwide could lose care because of the cuts. The group said the cuts were “penny wise and pound foolish” because they would mean less preventive care while more and sicker patients would end up in emergency rooms.

Like the fiscal cliff, Republicans and Democrats agreed on a sequestration strategy, with the idea that the drastic measure would force the two sides to reach agreement on more deliberative budget adjustments. That hasn’t happened.

The White House reports that the law will mean that nondefense programs will be cut by 5 percent, defense programs by 8 percent. But since the first year’s cuts must be done over seven months, that means in 2013, nondefense programs need to be cut by 9 percent, defense programs by 13 percent.

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National Hotel nears end of long renovation

A panel of frosted glass puts everything in perspective for Delphine Dray as she oversees a years-long, multi-million dollar renovation project at the National Hotel on Miami Beach.

“Chez Claude and Simone,” says the piece of glass stationed between the lobby and restaurant, a reference to Dray’s parents, who bought the hotel in 2007.

“Every time I am exhausted and I pass that glass, I remember why,” said Delphine Dray, who joined her father — a billionaire hotel developer and well-known art collector in France — to restore the hotel after the purchase.

After working with him for years, she is finishing the project alone. Claude Dray, 76, was killed in his Paris home in October of 2011, a shooting that remains under investigation.

In a recent interview and tour of the hotel’s renovations, which are nearly finished, Dray did not discuss her father’s death, which drew extensive media coverage in Europe. But she spoke about the evolution of the father-daughter working relationship, the family’s Art Deco obsession and the inspiration for the hotel’s new old-fashioned touches.

The National is hosting a cocktail party Friday night to give attendees a peek at the progress.

Dray grew up in a home surrounded by Art Deco detail; her parents constantly brought home finds from the flea market. By 2006, they had amassed a fortune in art and furniture, which they sold for $75 million at a Paris auction in 2006.

That sale funded the purchase of the National Hotel at 1677 Collins Ave., which the Drays discovered during a visit to Miami Beach.

After having lunch at the Delano next door, Dray said, “My dad came inside the hotel and fell in love.” The owner was not interested in selling, but Claude Dray persisted, closing the deal in early 2007. Her family also owns the Hôtel de Paris in Saint-Tropez, which reopened Thursday after a complete overhaul overseen by Dray’s mother and older sister.

Delphine Dray said she thought it would be exciting to work on the 1939 hotel with her father, so she moved with her family to South Florida. She quickly discovered challenges, including stringent historic preservation rules and frequent disagreements with her father.

“We did not have at all the same vision,” she said.

For example, she said: “I was preparing mojitos for the Winter Music Conference.” Her father, on the other hand, famously once unplugged a speaker during a party at the hotel because the loud music was disturbing his work.

“We were fighting because that is the way it is supposed to be,” she said. “Now, I understand that he was totally right.”

She described a vision, now her own, of a classic, cozy property that brings guests back to the 1940s.

Joined by her 10-year-old twin girls, Pearl and Swan, and 13-year-old son Chad, Dray pointed out a new telephone meant to look antique mounted on the wall near the elevators on a guest floor. She showed off the entertainment units she designed to resemble furniture that her parents collected. And she highlighted Art Deco flourishes around doorknobs and handles.

“It’s very important for us to have the details,” she said.

With those priorities in mind, she is overseeing the final phase of the renovation, an investment that general manager Jacques Roy said will top $10 million. In addition to the small details, the renovation includes heavier, less obvious work: new drywall in guest rooms, for example, and new windows to replace leaky ones.

Painting of the building’s exterior should be finished in the next two to three weeks, Roy said. Dray compared its earlier unfinished state to resembling “a horror movie — the family Addams.”

And the final couple of guest room floors, as well as the restoration of the original Martini Room, should be done by the end of April.

“At the end, I will be very proud,” Dray said.

The National’s renovation wraps up as nearby properties such as the SLS Hotel South Beach and Gale South Beach & Regent Hotel have been given new life. Jeff Lehman, general manager of The Betsy Hotel and chair of the Miami Beach Visitor and Convention Authority, said the National has always been true to its roots. He managed the hotel for 10 years, including for a few months after Dray bought the property.

“I think historic preservation and the restoration of the hotels as they were built 70, 80 years ago is such a huge piece of our DNA,” he said. “It’s a lot of what sets us apart from any other destination on the planet.”

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Remote employees require care to feel like part of the team

Working from home, hundreds of miles away from your boss, may sound like a perk, but that’s not always the case.

Ken Condren remembers the moment when he experienced the frustration his remote employees face. He was working from home, participating in a conference call and heard a side conversation going on, but had no idea what was being said. “I felt so out of the loop,” Condren recalls.

Today, businesses want the talent they want – and are more willing to hire or retain someone to fill a job even if they live or move thousands of miles away. Yet even with a great number of employees working remotely, nobody wants to be that guy who doesn’t get the inside joke during a conference call.

When the success of a team depends on the people, and all the people are scattered, it’s the manager who must make sure relationships stay vital and productivity high. Getting the most out of remote workers takes a manager who knows how to motivate and communicate from a distance. “Virtual workers still need a personal connection,” says strategic business futurist Joyce Goia, president of The Herman Group. “They want camaraderie and to feel like they are part of a team.”

More managers are using technologies such as videoconferencing, instant messenger and other collaborative software to help make remote workers feel like they are “there” in the office. Not being able to speak face-to-face can quickly be solved with Skype, Face Time or simple VoIP systems.

Condren, vice president of technology at C3/CustomerContactChan-

nels in Plantation, uses Microsoft Lync to connect virtually with a team spread across geographies and time zones. Employees see a green light on their screen when a colleague is available, signaling it’s a good time to video chat or instant message. Instead of meeting in physical conference rooms, team members get together in a virtual work room where they can hold side conversations during conference calls or meet in advance to prepare for the call. “You lose the visibility of waving hands during an in person meeting, but we can build that with virtual workspaces.”

Beyond that, Condren says he holds weekly video conference calls with his staff to help his remote workers become better team players. He also sets aside 45 minutes to an hour each week to check in with his remote workers. “It’s a little extra effort to make sure they are giving me the updates that happen casually in the office.”

Condren says adapting to a virtual workforce has allowed him to hire talent in any geographic market with the skill set he wants. And he has been able to hire them at competitive salaries.

In the current economy, such flexibility can be critical for a company looking to attract top talent. CareerBuilder’s Jennifer Grasz says the recession has created a less transient workforce, making it difficult for workers to sell their homes and relocate. “Employers are turning to remote work opportunities to navigate the skills deficit.”

Even from a distance, managers say there are ways to hone in on remote workers who are having problems. Billie Williamson managed virtual teams as a partner for Ernst & Young and would focus on the tone of someone’s voice during a group conference call. She would even listen for silences. “Silence can mean consent, or it can mean the person you’re not hearing disagrees or is disengaged.” If she sensed a team member was lacking engagement, she would follow up immediately.

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Open English expands across Latin America

Back in 2008, Open English, a company run from Miami that uses online courses to teach English in Latin America, had just a handful of students in Venezuela and three employees. Today the company has more than 50,000 students in 22 Latin American countries and some 2,000 employees.

To fund this meteoric expansion, the founders of Open English — Venezuelans Andrés Moreno and Wilmer Sarmiento and Moreno’s American wife, Nicolette — began with $700. Over the last six years, the partners have raised more than $55 million, mostly from private investment and venture capital firms.

Their formula for success? The founders rejected traditional English teaching methods in physical classrooms and developed a system that allows students to tune into live classes every hour of the day from their computers at home, in the office or at school, and learn from native English-speaking teachers who may be based anywhere. Courses stress practical conversations online and the company guarantees fluency after a one-year course, offering six additional months free if students fail to become fluent.

“We wanted to change the way people learn English,” said Andrés Moreno, the 30-year-old co-founder and CEO, who halted his training as a mechanical engineer and worked full-time at developing the company with his partners. “And we want students to achieve fluency. Traditionally, students have to drive to an English academy, waste time in traffic, and try to learn from a teacher who is not an native English speaker in a class with 20 students.”

Using the Internet, Open English offers classes usually with two or three students and a teacher, interactive videos, other learning aids and personal attention from coaches who phone students regularly to see how they are progressing.

Courses cost an average of $750 per year and students can opt for monthly payments. This is about one-fifth to one-third of what traditional schools charge for small classes or individual instructors, Andrés noted.

“We work at building confidence with our students and encourage them to practice speaking English as much as possible during classes,” said Nicolette Moreno, co-founder and chief product officer, who met Andrés in Venezuela while she was working there on a service project. “Students are taught to actively participate in conversations like a job interview, traveling and talking on a conference call,” said Nicolette, who previously lived in Los Angles, worked with non-profits to create environmentally friendly products and fight poverty in emerging markets, and was head equity trader at an asset management firm. “Students need to speak English in our classes, even though it is sometimes difficult. They learn through immersion.”

Open English has successfully tapped into an enormous, underserved market. Millions of people in Latin America want to learn English to advance in their jobs, work at multinational companies, travel or work overseas and understand the popular music, movies and TV shows they constantly hear in English. Many of them take English courses at public and private schools and learn little if any useful conversational English. While students at private schools for the upper middle class and wealthy often learn foreign languages extremely well from native English-speaking teachers, most people can’t afford these schools or courses designed for one or two students.

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Small business lending rebounds in South Florida

For years, Pablo Oliveira dreamed of buying a property to house his high-end linen and furniture rental company, Nuage Designs, which has created settings for such glamorous events as the weddings of Carrie Underwood and Chelsea Clinton.

A few months ago, that dream came true, when Oliveira purchased a warehouse across the street from his current Miami location. He is now renovating the loft-like space with the help of a $2.1 million, 25-year small business loan.

“It allows me to own my own space as opposed to renting, and that will decrease my costs for infrastructure and allow me to build equity with time,” said Oliveira, who secured a U.S. Small Business Administration-guaranteed loan from Wells Fargo.

For small businesses like Oliveira’s, a loan can be the critical key to growing a business, as well as the kindling to ignite an operation.

Take Harold Scott’s fledgling Great Scott Security, which manufactures window guards in Hollywood that can open quickly in case of need.

When he was 13, Scott’s stepfather perished in a Georgia house fire because he couldn’t escape through heavy window bars. Scott made it his mission to fix the problem.

“I promised myself I would dedicate all my time to working on a solution,” said Scott, 60.

Now retired from a 23-year career in the U.S. Justice Department, Scott recently secured a $7,500 microloan from Partners for Self Employment. He used it to buy a computer and pay for marketing and other business expenses for his quick-release window guards, which have met national, state and Miami-Dade County fire safety codes.

During the depths of the recession, business owners often griped that gaining access to capital was their biggest hurdle. Saddled with bad loans, many banks were wary of making new ones. At the same time, both the value of collateral and the creditworthiness of many borrowers tumbled.

Now, at last, banks are starting to open their pocketbooks again, experts say, though lending is still not on par with pre-recession levels.

“There is no question that small business borrowing declined as a result of the recession and has yet to recover to pre-crisis levels,” said Richard Brown, chief economist for the Federal Deposit Insurance Corp., via email. “According to the Federal Reserve, total loans to noncorporate businesses and farms stood at just under $3.8 trillion in September, which remains below the peak of about $4.1 trillion in the fourth quarter of 2008.”

Signs of Growth

In South Florida, more businesses are applying for loans and getting approvals from banks, according to lenders, officials at government agencies and leaders of organizations that help small business owners secure loans.

“Lenders are expressing a greater interest than they have in the past few years in terms of meeting the needs of the small business community,” said Marjorie Weber, Miami-Dade Chapter Chair of SCORE, which helps business owners put loan packages together and refers them to bankers.

Loan figures are indeed rising. During the fiscal year ending Sept. 30, 2012, SBA-guaranteed loans were up in both Miami-Dade and Broward counties, according to the SBA. In fiscal 2012, 449 loans were approved in Miami-Dade, totaling $213.3 million, up from 426 loans for $154.4 million in 2011. In Broward, 262 loans for $91.4 million were approved in fiscal 2012, compared to 257 loans for $102.4 million in 2011.

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Sign up for Feb. 21 Miami Herald Small Business Forum

Prepare your best pitch for the Miami Herald’s Small Business Forum, Feb. 21 at the south campus of our sponsor, Florida International University.

In addition to how-to panels and inspirational stories from successful entrepreneurs, our annual small business forum will include interactive opportunities with experts to learn about financing options and polish your personal and business brands.

During our finance panel, audience volunteers will be invited to explain their financing needs to the group. During our box-lunch session, they will be invited to pitch their business or personal brand to our coaches.

Those who prefer just to listen will be treated to a keynote address by Alberto Perlman, co-founder of the global fitness craze Zumba. Panels include success stories from the local entrepreneurs who founded Sedano’s, Jennifer’s Homemade and ReStockIt.com; finance tips from experts in small business loans, venture capital, angel investments and traditional bank loans; and insiders in the burgeoning South Florida tech start-up scene.

Plus, it’s a real bargain. $25 includes the half-day seminar, continental breakfast and a box lunch.

Register here.

Program

8 a.m.

Registration and continental breakfast, provided by Bill Hansen Catering

8:30 a.m. Welcome

Host: David Suarez, president and CEO, Interactive Training Solutions, LLC

•  Jerry Haar, PhD, associate dean & director, FIU Eugenio Pino and Family Global

Entrepreneurship Center

•  Alice Horn, executive director, Network for Teaching Entrepreneurship (NFTE South Florida)

•  Jane Wooldridge, Business editor, The Miami Herald

Miami Herald Business Plan Challenge Overview:

•  Nancy Dahlberg, Business Plan Challenge coordinator, The Miami Herald

8:45 a.m. Session I – Success Stories

Moderator: Jerry Haar, PhD, associate dean & director, FIU Eugenio Pino and Family Global

Entrepreneurship Center

Speakers:

•  Jennifer Behar, founder, Jennifer’s Homemade

•  Matt Kuttler, co-president of ReStockIt.com

•  Javier Herrán, chief marketing officer, Sedano’s Supermarkets

10 a.m. Session II – All about Tech

Moderator: Jane Wooldridge, Business editor, The Miami Herald

Speakers

•  Susan Amat, founder, Launch Pad Tech

•  Nancy Borkowski, executive director, Health Management Programs, Chapman Graduate School of

Business, Florida International University

•  Chris Fleck, vice president of mobility solutions at Citrix and a director of the South Florida Tech Alliance

•  Charles Irizarry, co-founder and director of product architecture, Rokk3r Labs

11:15 a.m. Keynote

Speaker: Alberto Perlman, CEO and co-founder of Zumba® Fitness

Introduction: Jane Wooldridge, business editor, The Miami Herald

11:45 a.m. Session III – Show me the money: Financing your small business

An interactive session featuring audience volunteers who will be invited to make a short investment pitch before a panel, including experts in microlending, SBA loans, traditional bank loans, venture capital and angel investing. Audience volunteers should come prepared with a two-minute presentation that includes details about current backing, how much money they are seeking and a brief synosis of ow that money would be used.

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Carnival Triumph passengers finally off the ship

MOBILE, Ala. --
Exhausted, grubby and almost five days late, the 3,143 passengers and 1,086 crew aboard the disabled Carnival Triumph returned to the U.S. late Thursday — to a city almost 500 miles from its home port.

Thousands of passengers aboard the Carnival Triumph cheered, screamed and waved from outside balconies as the ship was pulled in shortly after 10 p.m.

Families were excited and relieved as passengers began disembarking about an hour after the ship docked. All passengers were off the ship in Alabama by about 2 a.m. Friday and arrived at a New Orleans hotel at about 3 a.m.

“This is the best Valentine’s Day ever,” said Jon Hair, of Lake Charles, La., grabbing the hand of his son, 8-year-old Jace, whose mom, sister, aunt and cousins were aboard. “It’s great,” Jace said as he left for the terminal, where dozens of other families waited.

Jon Hair held a banner: "Thank God it's over!"

And as Julie Hair and her 12-year-old daughter Juliana came off the ship, Jon kissed his wife. “I feel blessed,” she said.

Buses arrived at the Hilton in New Orleans early Friday and were greeted by paramedics with wheelchairs to roll in passengers who were elderly or too fatigued to walk.

Many were tired and didn't want to talk. There were long lines as they waited to get checked into rooms.

For 28-year-old Maria Hernandez of Angleton, Texas, the hotel stay is only part of her journey home. Hernandez, like hundreds others, will have a brief reprieve at the hotel before flying home later in the day.

"It was horrible, just horrible" she said, tears welling in her eyes as she talked about waking up to smoke in her lower-level room Sunday and the days of heat and stench to follow. She was on a "girls' trip" with friends.

She said the group hauled mattresses to upper-level decks to escape the heat. As she pulled her luggage into the hotel, a flashlight around her neck, she managed a smile and even a giggle when asked to show her red "poo-poo bag" -- distributed by the cruise line for collecting human waste.

This was only part of her journey to get home. Hernandez, like hundreds others, would get to enjoy a brief reprieve at the hotel before flying home later Friday.

"I just can't wait to be home," she said.

Earlier, Gerry Cahill, Carnival president and CEO, said at a brief news conference Thursday night, while the Triumph was docking, that he appreciated the patience of the 3,000 passengers on board.

He said Carnival prides itself on providing people with a great vacation “and clearly we failed in this particular case.” He also said he planned to go aboard the ship and personally apologize to passengers.

As the ship inched closer to the dock in Mobile — bringing and end to the saga — relatives of passengers aboard became more excited.

Larry Butterfras of Houston, whose wife Pat had taken the Triumph cruise from its home port in Galveston, Texas, with seven friends on a birthday celebration, said he and a few other husbands drove down so they could be there to greet their wives as soon as they stepped off the ship. “When I was able to talk to her today and tell her we were here, she cried. She told her friends and they cried. It was very emotional.”

“I just want her home,” said Matthew Minyard, of Fate, Texas, anxiously waiting to greet his wife Bethany. “It’s been hard.”

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Start-Up City: Miami panelists discuss building tech hub

A day-long forum led by Richard Florida explored ways to build an innovation hub in South Florida.

Can Miami become one of the great cities of innovation?

Richard Florida, an urban-affairs expert and now a South Florida resident much of the year, brought in an all-star lineup of national and local thought leaders Wednesday to explore how to build a robust technology community in Miami — and learn from the experiences of other hubs.

More than 1,100 people registered for Start-Up City: Miami, a free, day-long seminar on presented by The Atlantic magazine, Atlantic Cities, and the John S. and James L. Knight Foundation. It was held at the New World Center in Miami Beach, where the main performance hall was full and lobbies were buzzing much of the day. the event was live-streamed, and watch parties took place in Miami and around the country.

“Look at what’s happening in San Francisco, Berlin, Tech City in London, New York. The shift to urban tech is happening. Cities are incubators of innovation,” said Florida, author of The Rise of the Creative Class. “In Miami, we’ve made these investments in arts and culture. Now is the time for the next step.”

The conference builds on the momentum to accelerate the Miami tech community. The Knight Foundation’s Miami office, led by Matthew Haggman, has already committed several million dollars to projects aimed at fueling entrepreneurship, including bringing in the global nonprofit Endeavor; investing in the co-working campus LAB Miami; and sponsoring dozens of events around town, including Start-Up City. Miami-Dade County and the Miami Downtown Development Authority have invested $1.5 million in Launch Pad Tech, a new downtown accelerator.A wave of co-working spaces catering to entrepreneurs has swept into Miami’s urban core.

“We need to stop thinking of landing an IBM, and instead think about incubating the next group of entrepreneurial startups who will create the technology and solutions of tomorrow,” said Manny Diaz, former mayor of Miami, in his opening remarks.

When it comes to building startup communities, the keynote speaker, Tony Hsieh, the CEO of Zappos.com, knows a thing or two. He has been on a mission to build one in downtown Las Vegas — what he calls the “the anti-strip.”

Hsieh has committed $350 million, mostly his own funds, to help make Las Vegas one of the world’s great cities and a technology hub. For a city almost entirely dependent on tourism, and one that was a poster child for the housing crash, these goals might seem ambitious. Sound familiar?

As part of The Downtown Project, Hsieh is moving his own company — the giant shoe retailer — from the Las Vegas suburbs to the former City Hall. Nearby, he told the crowd, he is also amassing other real estate for co-working and traditional office space, more affordable housing, retail and restaurants — all to ensure an “entrepreneurial energy” and places for “serendipitous collisions.”

Some of the projects in Las Vegas have included a shipping-container park, bike-sharing and car-sharing, 60 furnished apartments for visiting entrepreneurs, and an “Inspire Theater” that hosts thought-provoking speakers throughout the day.

Hsieh has also established a $50 million fund to help tech startups — just two years ago there was no startup scene in Las Vegas, he said. He’s also investing in the arts and small business.

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A close look at compact megazoom cameras

The lenses get longer, but the bodies get smaller. Pretty amazing. These four cameras offer wide-angle lenses with long zooms, giving you a lot of shooting flexibility, but without the bulk of larger dSLR-style megazooms.

Canon PowerShot SX260 HS

Rating: 4 stars out of 5 (Excellent)

The good: Shooting modes are for every type of photographer, casual to advanced. There is a useful long zoom lens with excellent image stabilization, and overall excellent photo and video quality for a compact megazoom.

The bad: Menus and controls can take getting used to, battery life is short and photos get noticeably softer-looking indoors or in low light.

The cost: $209 to $325.99

The bottom line: The wider, longer lens, a few much-needed design tweaks, and excellent photo quality add up to one pretty great compact megazoom.

Panasonic Lumix DMC-ZS20

Rating: 4 stars out of 5 (Excellent)

The good: Excellent design and feature set, including an ultrawide-angle 20x zoom lens, GPS and semimanual and manual shooting modes, as well as fast shooting performance and improved low-light photo quality from previous versions.

The bad: Using all of the high-performance features, such as the near-pointless touch screen, can cut into battery life. Also, photos are noisy and soft when viewed at 100 percent.

The cost: $229.99 to $294

The bottom line: The zoom lens might be the main attraction, but the camera is all-around excellent.

Sony Cyber-shot DSC-HX30V

Rating: 4 stars out of 5 (Excellent)

The good: Excellent photo and video quality for its class, fast shooting performance and plenty of shooting options for everyone.

The bad: It’s expensive, especially when compared with competing models. It’s not the easiest to use and the feature set is so deep it might be overwhelming for some users.

The cost: $299.99 to $419.99

The bottom line: The feature-rich camera has a great mix of speed and photo quality.

Samsung WB850F

Rating: 3.5 stars out of 5 (Very good)

The good: A feature-packed compact megazoom with a versatile lens, very good picture quality and excellent Wi-Fi capabilities.

The bad: Shooting performance is a bit mixed, battery life is mediocre and interface, while very good, can take some time to learn.

The cost: $288 to $379.99

The bottom line: For snapshooters looking to enter the world of connected cameras, this is a good place to start.

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Green cards for sale at a South Beach hotel: Competition is on for EB5 investment visas

If David Hart gets his way, South Beach’s 42-room Astor Hotel will be on a hiring spree this year as it adds concierge service, a roof-top pool, an all-night diner, spa and private-car service available 24 hours a day.

New hires will be crucial to Hart’s business plan, since foreign investors have agreed to pay about $50,000 for each job created by the Art Deco boutique.

The Miami immigration lawyer specializes in arranging visas for wealthy foreign citizens under a special program that trades green cards for investment dollars. Businesses get the money and must use it to boost payroll. The minimum investment is $500,000 to add at least 10 jobs to the economy. That puts the pressure on Hart and his partners at the Astor to beef up payroll dramatically, with plans to take a hotel with roughly 20 employees to one with as many as 100 workers.

“My primary responsibility is to make something happen here over the next two years that will create the jobs we need,’’ Hart said a few steps away from a nearly empty restaurant on a recent weekday morning. “It’s all going to be transformed.”

Though established in the 1990s, the “EB5” visas soared in popularity during the recession as developers sought foreign cash to replace dried-up credit markets in the United States.

Chinese investors dominate the transactions, accounting for about 65 percent of the nearly 9,000 EB5 visas granted since 2006. South Korea finishes a distant second at 12 percent and the United Kingdom holds the third-place slot at 3 percent. If Latin America and the Caribbean were one country, they would rank No. 4 on the list, with 231 EB5 visas granted, or about 3 percent of the total.

Competition has gotten stiffer for the deep-pocketed foreign investors willing to pay for green cards. The University of Miami’s bio-science research park near the Jackson hospital system raised $20 million from 40 foreign investors under the EB5 program, most of them from Asia. The money went into the park’s first building; visa brokers are waiting to see if the second building will proceed so they can offer a new pool of potential green-card sales.

In Hollywood, the stalled $131 million Margaritaville resort had hoped to raise about $75 million from EB5 investors before ditching that plan last year to pursue more traditional financing. A retail complex by developer Jeff Berkowitz in Coral Gables also launched a program to raise $50 million in EB5 money for the project, Gables Station. Hart worked with other EB5 investors to back pizza restaurants in Miami and South Beach. A limestone mine in Martin County also was backed by EB5 dollars.

This year, the city of Miami itself is expected to get into the business by setting up an EB5 program to raise foreign cash for a range of city businesses and developments. The first would be the tallest building in the city — developer Tibor Hollo’s planned 85-story apartment tower, the Panorama, in downtown Miami.

With a construction cost of about $700 million, Miami’s debut EB5 venture hopes to raise about $100 million from foreign investors, said Laura Reiff, the Greenberg Traurig lawyer in Virginia working with Miami on the EB5 effort. “This is a marquis project,’’ she said.

The arrangement is a novel one for Miami, with the city planning to help a private developer raise funds overseas for a new high-rise. And it would allow Hollo and future participants to tout the city of Miami’s endorsement when competing with other Miami-area projects for EB5 dollars. “We will have the benefit of the brand of the city of Miami,’’ said Mikki Canton, the $6,000-a-month city consultant heading Miami’s EB5 effort. “A lot of these others are privately owned and they won’t have that brand.”

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U.S. Century to OK details of new deal

U.S. Century Bank is expected to sign off on Monday on its letter of intent — the framework for a plan to recapitalize the bank.

Under the deal, a local group of investors, led by Jimmy Tate of Tate Capital and Sergio Rok of Rok Enterprises, will bring in fresh capital and wipe out the Doral bank’s bad loans, while allowing it to operate independently.

The investor group is expected to inject $50 million in capital into the bank, becoming majority owners. In addition, the group will pay about $90 million to buy certain loans, including all $98 million of U.S. Century’s non-performing loans, said U.S. Century President and Chief Executive Carlos J. Dávila. The deal would also provide for a negotiated amount to be paid to the federal government to repay U.S. Century’s $50.2 million in TARP funds.

A definitive agreement, based on the letter of intent, is expected next month. Pending shareholder and regulatory approval, the deal could be completed by mid-year, Dávila said.

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Mega mansion frenzy: Buyer snaps up Pat Riley’s $16M home to level it, rebuild

Miami Heat President Pat Riley sold his spectacular bayfront mansion in gated Gables Estates for $16.8 million last March.

The 12,856-square-foot Mediterranean-style dream house at 180 Arvida Parkway has a theater, wine cellar, library, and a sprawling pool with waterfalls and an aqua bar.

But that’s all coming down.

Turns out the lure was the lot: a rare fingertip of prime land, nearly two acres, jutting into the turquoise waters of Biscayne Bay.

In December, the buyer — listed as 180 Arvida LLC represented by Miami attorney Mark Hasner — presented the city of Coral Gables with plans to tear down the home, built in 1991, and erect an even grander estate along the 900 linear feet of bayfront.

“Most people would move in and be perfectly happy, but clients are looking for perfection — really good stuff,” said Jorge Uribe, a senior vice president at One Sotheby’s International Realty, who wasn’t involved but sold an even bigger trophy property last year: a $39.4 million estate at 14 Indian Creek Dr., on Indian Creek Island in Miami Beach, dubbed “Miami’s Billionaire Bunker” by Forbes magazine.

“The trend in the last several years is a demand for very high-quality product. People are looking for really good locations, really good materials, and they’re willing to pay for it,” Uribe said.

Miami’s ultra-luxury market is on fire. Prices for the fanciest single-family homes and condominiums have soared to levels never before seen in the area, fueled by strong foreign demand and renewed interest from New Yorkers and others in the Northeast.

With Miami’s global image burnished by Art Basel Miami Beach and the debut of other cultural and entertainment venues, the city is emerging as an even greater magnet for the world’s super-rich.

In January, a penthouse at the Setai Resort & Residences on Miami Beach fetched $27 million, a new high for a Miami-Dade condominium. “Every building we do business in is at its highest price of all time,” said Mark Zilbert, president of Zilbert International Realty, which represented the buyer in the Setai deal.

Last August, a sleek, new home, built on spec at 3 Indian Creek Dr., sold for $47 million, a record high for a Miami-Dade residence. The buyer, whose identity has not been revealed, is Russian.

“People are realizing how valuable the bay waterfront is,” said Oren Alexander, co-founder of the Alexander Group at Douglas Elliman Real Estate, who co-listed the 3 Indian Creek property with The Jills team at Coldwell Banker and represented the buyer for the home. His father, Shlomy Alexander, developed the property with partner Felix Cohen.

Shlomy Alexander is working on two more extravagant spec homes — one at 30 Indian Creek Dr. and a second that is set to break ground shortly at 252 Bal Bay Dr. in Bal Harbour, his son said. Plans envision a tropical modern-style project that fuses the indoors and outdoors — a concept popular in Brazil.

The elder Alexander recently traveled to Italy to shop for exclusive stone for the projects, said the son.

“It’s really trending to the ultra-luxury. All sorts of exotic materials — exotic woods, exotic marbles, exotic stones,” said Sean Murphy, an executive vice president at Coastal Construction, a major builder of luxury hotels and condominiums that also has erected some of the most extravagant mansions in the region. “Everything is so exotic.”

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Sign up for Feb. 21 Miami Herald Small Business Forum

Prepare your best pitch for the Miami Herald’s Small Business Forum, Feb. 21 at the south campus of our sponsor, Florida International University.

In addition to how-to panels and inspirational stories from successful entrepreneurs, our annual small business forum will include interactive opportunities with experts to learn about financing options and polish your personal and business brands.

During our finance panel, audience volunteers will be invited to explain their financing needs to the group. During our box-lunch session, they will be invited to pitch their business or personal brand to our coaches.

Those who prefer just to listen will be treated to a keynote address by Alberto Perlman, co-founder of the global fitness craze Zumba. Panels include success stories from the local entrepreneurs who founded Sedano’s, Jennifer’s Homemade and ReStockIt.com; finance tips from experts in small business loans, venture capital, angel investments and traditional bank loans; and insiders in the burgeoning South Florida tech start-up scene.

Plus, it’s a real bargain. $25 includes the half-day seminar, continental breakfast and a box lunch.

Register here.

Program

8 a.m.

Registration and continental breakfast, provided by Bill Hansen Catering

8:30 a.m. Welcome

Host: David Suarez, president and CEO, Interactive Training Solutions, LLC

•  Jerry Haar, PhD, associate dean & director, FIU Eugenio Pino and Family Global

Entrepreneurship Center

•  Alice Horn, executive director, Network for Teaching Entrepreneurship (NFTE South Florida)

•  Jane Wooldridge, Business editor, The Miami Herald

Miami Herald Business Plan Challenge Overview:

•  Nancy Dahlberg, Business Plan Challenge coordinator, The Miami Herald

8:45 a.m. Session I – Success Stories

Moderator: Jerry Haar, PhD, associate dean & director, FIU Eugenio Pino and Family Global

Entrepreneurship Center

Speakers:

•  Jennifer Behar, founder, Jennifer’s Homemade

•  Matt Kuttler, co-president of ReStockIt.com

•  Javier Herrán, chief marketing officer, Sedano’s Supermarkets

10 a.m. Session II – All about Tech

Moderator: Jane Wooldridge, Business editor, The Miami Herald

Speakers

•  Susan Amat, founder, Launch Pad Tech

•  Nancy Borkowski, executive director, Health Management Programs, Chapman Graduate School of

Business, Florida International University

•  Mark Slaughter, CEO, Cohealo.com

•  Chris Fleck, vice president of mobility solutions at Citrix and a director of the South Florida Tech Alliance

11:15 a.m. Keynote

Speaker: Alberto Perlman, CEO and co-founder of Zumba® Fitness

Introduction: Jane Wooldridge, business editor, The Miami Herald

11:45 a.m. Session III – Show me the money: Financing your small business

An interactive session featuring audience volunteers who will be invited to make a short investment pitch before a panel, including experts in microlending, SBA loans, traditional bank loans, venture capital and angel investing. Audience volunteers should come prepared with a two-minute presentation that includes details about current backing, how much money they are seeking and a brief synosis of ow that money would be used.

Moderator: Melissa Krinzman, founder and managing director, Venture Architects

Panelists:

•  Marjorie Weber, chairman, SCORE of Miami-Dade

•  Cornell Crews, Jr., program director, Partners for Self Employment

•  Darius G. Nevin, co-founder, G3 Capital Partners, a mid-market and early-stage investment company

•  Boris Hirmas Said, chairman of the board, Tres Mares S.A. (Santiago, Chile) and entrepreneur in

residence at the Eugenio Pino and Family Global Entrepreneurship Center

1 p.m. Lunch session - Polish your Pitch, Brighten Your Personal Brand

An interactive session featuring audience volunteers who will be invited to make short pitches about their businesses and themselves. Audience volunteers should come prepared with a two-minute presentation.

Coaches: Melissa Krinzman of Venture Architects and Michelle Villalobos of Mivista Consulting

advise audience volunteers on how to best pitch themselves and their products.

Box lunch provided by Bill Hansen Catering

All speakers confirmed unless otherwise noted. Agenda is subject to change without notice .

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Need a copy of your home’s deed? It’s cheaper to do it yourself

Homeowners who received letters recently from a company offering to sell them a copy of the deed on their home might want to think twice before writing a check.

The official-looking letters from Florida Certified Record Retrieval state that the government recommends having a certified copy of their home’s deed.

The letter offers to provide such a copy for a fee of $50, plus $4.50 for postage and handling.

Technically, it’s not a scam. The Davie-based company, which is not accredited by the Better Business Bureau, will get the record for you.

A recorded message on the company’s answering service states that Florida Certified Record Retrieval is not affiliated with any state or government agency. It is a private company that buys lists of real estate transactions, which are public record.

The message also states the company has no access to original documents, and cannot change information — such as correcting misspelled names — on a certified copy of a deed.

Although what the company does is not illegal, homeowners can buy copies of a deed directly from their county’s clerk of courts for much less, said David Rooney, Division Chief of Recording at the Miami-Dade Clerk of Courts Office.

To get a copy of your deed:

In Miami-Dade, visit www.miami-dadeclerk.com and select “official record search.” Records are searchable by name.

A scanned copy of the record can be printed from the website, or you can order certified copies of the deed from the same screen.

Copies cost $1 per page, plus a certification fee of $2 per document. The records are mailed within a week.

In Broward, visit www.broward.org, click on “Public Records Search” and then on “Deeds.”

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