Prices for Miami Beach luxury condos soar to records

Ultra-luxury condominiums on South Beach are fetching nosebleed prices.

On Tuesday, a penthouse at the Setai Resort at 2001 Collins Avenue closed for $27 million — the highest price ever for a South Florida condominium, according to real estate agents.

“We’re definitely seeing the market turning upward,” said Jeff Miller, of Zilbert International Realty in Miami, who represented the buyer in the sale of the palatial 7,100-square-foot condominium. “We’re seeing buyers come in from all over the globe.”

Just a few weeks ago, Ohio coal mining businessman Wayne Boich Jr. completed the sale of his Icon South Beach penthouse at 450 Alton Road in the uber-trendy South of Fifth neighborhood for just under $21 million.

The 6-bedroom, 7 1/2-bath Icon condo sparked a bidding war that drove the sale $2 million above the listing price — a level that is three times the $7 million Boich paid in July 2007 in the depths of the bust. It was a record price for a Miami Beach bayside condo.

“The luxury market is on fire in South Beach — especially the South of Fifth neighborhood,” said Dora Puig, principal of PuigWerner Real Estate Services, who was the listing broker for the Icon unit. “It’s moving Miami to totally different pricing points.”

The Setai’s record may not reign for long.

Penthouse 2 in the decade-old Continuum South tower at 100 South Pointe Drive in the South of Fifth neighborhood is on the market for $39 million.

That is a record listing price for a Miami-Dade condominium, according to Puig, who also snagged that listing.

Amid the market sizzle, Puig bumped up the asking price late last summer from $35 million.

The penthouse, which has 11,000 square feet of interior space, belongs to Manhattan real estate developer Ian Bruce Eichner, who built the Continuum project at the tip of South Beach and kept the trophy for himself.

The Continuum penthouse, which has 6,000 square feet of deck and a rooftop heated pool, boasts sweeping 13 1/2-foot ceilings that give the feel of a single-family home. The floor-to-ceiling glass walls offer a 360-degree view of the Atlantic Ocean, Biscayne Bay, downtown Miami and Miami Beach from 40 stories up.

“It looks down on Fisher Island, way down,” Puig said with a smile.

The unit has a private interior elevator, of course, and stretches over two indoor levels and two largely exterior levels.

One big plus: It has a gated entrance and sits on an expansive enclave of rolling lawns and gardens adjacent to a city park at the tip of the island.

The unit comes with an additional 874-square-foot guest quarters that would delight most mortals. “The guest unit is intended for professional quarters: the maid, the nanny, the chef, the pilot,” Puig explained.

Also included is a snazzy cabana on the beach.

Eichner has used it as a vacation home and once rented it to Tom Cruise for a couple of months while he was in Miami to film Rock of Ages.

On Thursday, Puig hosted Miami’s power brokers for a look at the Continuum penthouse over champagne and hors d’oeuvres. Next week, she plans to spend three days in New York touting the property to high-end brokers.

Such palatial properties typically are paid for in cash. But what would a monthly payment be?

With a 20 percent down payment of $7.8 million, the buyer would have to finance $31.2 million.

“I don’t know that I’d be able to find anybody willing to go that high on one unit,” warned Steve Schneider, a mortgage broker who is owner and president of Abacus Lending Group in South Miami.

If a buyer could line up a 15-year fixed rate mortgage at 3.5 percent, the monthly payment for principal and interest would be $223,043.35.

“I’d hate to see the tax bill,” said Schneider.

According to Miami-Dade County Property Appraiser records, the 2012 property tax bill on the Continuum penthouse was $264,896.17. That was based on an assessed value of just $9.5 million, less than half what the Property Appraiser listed as the market value of $19.3 million. The tax break came as a result of the state law that caps increases in assessed values on non-homesteaded property at 10 percent a year.

The condo maintenance fee for Eichner’s unit runs $7,624 a month. “I think that’s low for what you get,” said Puig.

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Miami Dolphins bill would bring state money to aging stadiums

A bill drafted by the Miami Dolphins would give Florida sports teams $3 million a year in state money to improve older stadiums, provided the owner pays for at least half the cost of a major renovation.

Under the law, the stadium would need to be 20 years old and the team willing to put in at least $125 million for a $250 million renovation. That’s less than the $400 million redo of Sun Life Stadium that Dolphins owner Stephen Ross proposed this week, which he hopes will win state approval thanks to his offer to fund at least $200 million of the effort to modernize the 1987 facility.

Miami-Dade and Florida would fund the rest through a mix of county hotel taxes and state general funds set aside for stadiums. Sun Life currently receives $2 million a year through the program, and the Dolphins want to create a new category that would give them an additional $3 million.

While the Miami Marlins and Miami Heat both play in stadiums subsidized by county hotel taxes, the Dolphins receive no local dollars. The bill would change that by allowing Miami-Dade to increase the tax charged at mainland hotels to 7 percent from 6 percent, and eliminate the current rule that limits the money to publicly owned stadiums. Sun Life Stadium, in Miami Gardens, is privately owned but sits on county land.

The bill pits enthusiasm for one of Florida’s most popular sports teams against a lean budget climate and lingering backlash against the 2009 deal that had Miami and Miami-Dade borrow about $485 million to build a new ballpark for the Marlins. Ross also must navigate a Republican-led Legislature that has twice rebuffed his requests for public dollars.

“I would be surprised if that bill even got a hearing in committee,” said Mike Fasano, a Republican representative from the Tampa area and a critic of tax-funded sports deals. “I’m a big Dolphin fan, and have been for years. But with all due respect, we’ve got people who are struggling throughout this state right now . .. The last thing we should be doing is giving a professional sports team or facility additional tax dollars.”

While the bill would open up the $3 million subsidy to other the teams, the Dolphins see it as unlikely that another owner would be willing to put up as much money for renovations as Ross, a billionaire real estate developer.

If the bill were enacted today, any stadium opened before 1993 would be eligible for the money, provided it could show the proposed renovation would generate an additional $3 million in sales taxes.

Ross and his backers are pitching the renovation as a boon to tourism, with Sun Life a magnet for the Super Bowl, national college football games and other major events. The National Football League is considering South Florida and San Francisco for the 2016 Super Bowl, and the Dolphins say approval of renovation funding is crucial to winning the bid.

Sen. Oscar Braynon, D-Miami Gardens, who sponsored the Senate bill, said the funding makes sense because when Sun Life hosts a Super Bowl, the entire state benefits from both tourism dollars and publicity.

“It’s a small price to pay for economic development, and for all the shine we get from major sporting events,” said Braynon, whose district includes Sun Life. Rep. Eduardo “Eddy” Gonzalez, R-Hialeah, is the sponsor on the House side.

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Miami Dolphins bill would bring state money to aging stadiums

A bill drafted by the Miami Dolphins would give Florida sports teams $3 million a year in state money to improve older stadiums, provided the owner pays for at least half the cost of a major renovation.

Under the law, the stadium would need to be 20 years old and the team willing to put in at least $125 million for a $250 million renovation. That’s less than the $400 million redo of Sun Life Stadium that Dolphins owner Stephen Ross proposed this week, which he hopes will win state approval thanks to his offer to fund at least $200 million of the effort to modernize the 1987 facility.

Miami-Dade and Florida would fund the rest through a mix of county hotel taxes and state general funds set aside for stadiums. Sun Life currently receives $2 million a year through the program, and the Dolphins want to create a new category that would give them an additional $3 million.

While the Miami Marlins and Miami Heat both play in stadiums subsidized by county hotel taxes, the Dolphins receive no local dollars. The bill would change that by allowing Miami-Dade to increase the tax charged at mainland hotels to 7 percent from 6 percent, and eliminate the current rule that limits the money to publicly owned stadiums. Sun Life Stadium, in Miami Gardens, is privately owned but sits on county land.

The bill pits enthusiasm for one of Florida’s most popular sports teams against a lean budget climate and lingering backlash against the 2009 deal that had Miami and Miami-Dade borrow about $485 million to build a new ballpark for the Marlins. Ross also must navigate a Republican-led Legislature that has twice rebuffed his requests for public dollars.

“I would be surprised if that bill even got a hearing in committee,” said Mike Fasano, a Republican representative from the Tampa area and a critic of tax-funded sports deals. “I’m a big Dolphin fan, and have been for years. But with all due respect, we’ve got people who are struggling throughout this state right now . .. The last thing we should be doing is giving a professional sports team or facility additional tax dollars.”

While the bill would open up the $3 million subsidy to other the teams, the Dolphins see it as unlikely that another owner would be willing to put up as much money for renovations as Ross, a billionaire real estate developer.

If the bill were enacted today, any stadium opened before 1993 would be eligible for the money, provided it could show the proposed renovation would generate an additional $3 million in sales taxes.

Ross and his backers are pitching the renovation as a boon to tourism, with Sun Life a magnet for the Super Bowl, national college football games and other major events. The National Football League is considering South Florida and San Francisco for the 2016 Super Bowl, and the Dolphins say approval of renovation funding is crucial to winning the bid.

Sen. Oscar Braynon, D-Miami Gardens, who sponsored the Senate bill, said the funding makes sense because when Sun Life hosts a Super Bowl, the entire state benefits from both tourism dollars and publicity.

“It’s a small price to pay for economic development, and for all the shine we get from major sporting events,” said Braynon, whose district includes Sun Life. Rep. Eduardo “Eddy” Gonzalez, R-Hialeah, is the sponsor on the House side.

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.CO sets sights on changing ‘the fabric of the Internet’

For the millions of people who equate the Web with .com, . CO Internet is out to change that mindset.

The Miami company that manages and markets the .co domain is already making impressive gains — more than 1.4 million in 200 countries have hung their businesses, blogs, personal projects or dreams on a .co virtual shingle. Still, that’s just a tiny fraction of industry titan VeriSign’s 105 million .com registrants.

“We want to change the fabric of the Internet,” Juan Diego Calle, founder and CEO of .CO Internet, said during an interview in .CO’s Brickell office. “We can only make that happen not by changing what happened in the last 25 years of the Web, which is owned by .com. We want to change the next 25.”

About 2½ years after the launch of .CO Internet, .co — the country code of Colombia — continues to be one of the fastest-growing Internet domains in the world and grew by 24 percent in 2012. .CO Internet is profitable and is projecting to bring in more than $25 million in revenues this year, the company said. The early success of .CO Internet, with operations in Miami and Colombia, is powered by passion and perseverance.

Calle moved to Miami from Colombia at age 15 with his family. He started several businesses, including one he sold in 2005 providing seed capital for what would come next. “I can’t say I ever sat still.” When he learned Colombia would be commercializing the country's .co domain extension in late 2006, he said it hit him like a lightning bolt.

With the right strategy and by “marketing the hell out of it,” the entrepreneur believed .co could solve a huge problem in the market — vanishing Internet domain names. If you’ve tried to nab a new .com address lately, you can relate — it’s difficult to find one that hasn’t been snatched up.

Calle thought that by appealing to the hearts and minds of the entrepreneur, .co could go where .info, .biz, .net or .me had never gone before. But first he needed the right team.

One of this first stops: The Big Apple, to visit Nicolai Bezsonoff, who had been an advisor and shareholder in Calle’s TeRespondo.com, a sort of Ask Jeeves for the Latin American market that was sold to Yahoo in 2005. At the time, Bezsonoff was the director of technology and operations at Citigroup.

“We went out for coffee, he started pitching me on a napkin. I said ‘really dude you want me to leave a big job at Citigroup for this?’ ” said Bezsonoff. “But he kept showing me the numbers … Later, that napkin was on my desk and it was one of those boring days and I kept looking at it and thought maybe I should.” He would become .CO’s chief operating officer.

Lori Anne Wardi, a lawyer and serial entrepreneur who was working at a venture capital firm at the time, became vice president in charge of brand strategy, business development and global communications. “She’s the heart and soul of the company,” said Calle. Eduardo Santoyo, based in Bogota, would become corporate vice president over policy and be the liaison with the Colombian government. “Some would say it was overkill talent but I needed the best. ... When you have a big dream, you have to think big and hire the right people,” Calle said.

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Miami Dolphins worry Marlins stand between them and a tax-funded redo for Sun Life Stadium

The Miami Dolphins are reviving their failed bid to win tax dollars for a football stadium. But team executives want no comparisons to a successful bid to win tax dollars for a baseball stadium.

Dolphins owner Stephen Ross has called a press conference for Monday to unveil a plan for an improved Sun Life Stadium. Sources say the plan will include asking state and local governments to help pay for a $400 million renovation of the 1987 facility.

State lawmakers in recent years rebuffed the Dolphins when the team asked for help on a less-expensive renovation. And while the economy and state finances are more favorable this time around, Dolphin executives see a bigger challenge now from lingering backlash against the $639 million ballpark taxpayers built for the Miami Marlins in order to move the baseball team from their old home in Sun Life. .

“It can’t be anything close to what the Marlins did,’’ said state Sen. Oscar Braynon, a Democrat whose Miami Gardens district includes Sun Life Stadium and who sponsored a 2011 bill to raise hotel taxes to fund the Dolphins renovation plan. “Unless you do something totally counter to what the Marlins did, nobody is going to vote for it.”

Both the Marlins and the Dolphins declined to comment for this story. The Dolphins have not released details of how they want to pay for the renovation, or what they want to do the stadium. But sources close to the team describe an extensive renovation of Sun Life, including adding a partial roof, a redesign of the seating configuration to improve views of the field, and shifting capacity from the low-priced seats in the upper deck to the more expensive seating closer to the sidelines. Without the space demands of a baseball field, the front row will move 18 feet closer to the field, according to a person briefed on the plans.

Polls showed Miami and Miami-Dade’s 2009 votes to build the baseball stadium with 75 percent public money were never popular. But the Marlins’ recent stripping of star players from their payroll has made the new Little Havana park Topic A when it comes to plotting a Dolphins’ victory for winning tax dollars themselves.

Dolphins executives plan to pursue two funding sources from state and local government, according to several people familiar with the team’s plans. For the first funding stream, the Dolphins plan to ask Miami-Dade to raise taxes charged mainland hotels from 6 percent to 7 percent and earmark the extra money for the stadium. The Dolphins also plan to ask Florida for an additional $2 million rebate on sales taxes on top of the $2 million the stadium already receives from the state each year under a special subsidy for professional sports teams.

Ross is expected to pledge a significant amount of the renovation money himself. Sources who have been briefed on the Dolphins’ proposal say the total pricetag for the project is $400 million. That’s almost double the renovation budget the Dolphins proposed when the team last went to the Legislature for money in 2011.

Staying competitive

At the time, the Dolphins unveiled a $225 million redo of Sun Life with expanded sideline seating, high-definition lighting and a partial roof that would both shade seats during hot games and shield spectators from the kind of downpour that drenched the stands during the 2007 Super Bowl in Miami Gardens. The Dolphins, top executives at the NFL and some community leaders have warned that without upgrades to Sun Life, South Florida risks losing its standing as one of the nation’s top venues for the Super Bowl and college football championships.

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After rough year, Carnival hopes for calmer waters

After boarding the latest addition to the Carnival Cruise Lines family, Josh Beaver sampled lasagna at the new onboard Italian restaurant, downed some drinks with his traveling companions and hit the water slides while the afternoon was still young.

“So far, from what I’ve seen, there’s lots to do,” said Beaver, 33, of Holden Beach, N.C.

The Carnival Breeze hadn’t even left PortMiami yet on a recent Saturday, and already it buzzed with vacationers exploring all there was to do: nosh on a Pig Patty from the new Guy’s Burger Bar, make friends with bartenders at the new RedFrog Pub or check out a novel and a glass of the grape at the new Library Bar.

Here aboard one of the largest ships in the biggest brand of the Number One cruise ship company in the world, there was little hint that the last year was one of the toughest in the 41-year history of parent company Carnival Corp. & plc.

Last year got off to a catastrophic start when Costa Concordia, owned by Carnival unit Costa Cruises, struck rocks in Italian waters as the captain steered the ship on an unauthorized route. The massive liner listed to one side, and 32 people died in the chaos that followed.

“When you lose lives, it’s heartbreaking,” said Carnival Corp. Vice Chairman and COO Howard Frank, who devoted much of his time last winter handling the aftermath with Costa leaders. “And so I think in terms of our emotional reaction to it, it’s been the toughest year we’ve had.”

Carnival Corp. Chairman and CEO Micky Arison took criticism for not going to Italy following the wreck, but said he believes the company did the right thing and doesn’t second-guess his actions.

Financially, the company took a hit as well, starting with discounts that were necessary to drum up business after the accident. Costa’s future bookings plunged, but picked up after the operator slashed prices. As of mid-December, prices at Costa remained lower than they were a year earlier, though the company expects that to change once the anniversary of the accident passes.

“I think we’ve been consistent in saying the recovery at Costa is not a one-year issue,” Arison said during the December earnings call with analysts. “It’s going to be multiple years, and we are forecasting a recovery of about half the yield deterioration.”

The ship remains on its side off the island of Giglio; it’s expected to be removed by the end of summer.

A flurry of civil lawsuits have been filed, but none have reached trial yet; the company has reached compensation agreements with 70 percent of the more than 3,000 passengers who were not physically injured and 60 percent of injured passengers and families of those who died.

As the company and broader industry focused anew on safety, the summer months presented a fresh set of problems when the European economy weakened just as cruise lines were stationing more ships in the Mediterranean. While North America was immune to those concerns, the run-up to the Presidential election and the fiscal cliff debates prompted Carnival to worry about a slowdown in business at home.

Last month, Carnival forecast 2013 earnings that were lower than expectations and said advance bookings for the year were behind what they were a year earlier at lower prices. Many analysts believe the projections were conservative, though, and executives said they were hopeful that January would bring more robust business.

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What the week’s big mortgage moves mean for consumers

This week brought three big developments to the nation’s beleaguered mortgage landscape. For consumers, the complex moves have been mostly mystifying, but experts say they all aim at turning the page.

“There is a strong desire to put behind us all this period of time — the aftermath of the darkest period in American finance. All these things [announced this week] are intended to do that,” said John Taylor, president and CEO of the National Community Reinvestment Coalition, a Washington, D.C.-based community advocacy group. “There are good and bad things in it for consumers.’’

A new rule issued Thursday by the Consumer Financial Protection Bureau aims to prevent lenders from making the sort of toxic mortgages that forced many unsuspecting borrowers into ruin. Yet the new “qualified mortgage” rule, according to some lenders, also could perpetuate the nation’s tight credit problem and keep many would-be homebuyers on the sidelines.

Meanwhile, two settlements unveiled Monday with big banks should resolve some lingering issues from the mortgage meltdown that have kept banks focused on past errors instead of getting back to the business of lending.

Here is a quick primer on the week’s developments and some likely implications for consumers.

OCC Settlement

The Office of the Comptroller of the Currency, which regulates nationally chartered banks, Monday unveiled an $8.5 billion settlement with 10 giant banks that service mortgages.

As part of the controversial settlement, the OCC is scrapping its Independent Foreclosure Review, which was aimed at identifying victims of robo-signing and other improper foreclosure tactics by banks, but soon proved to be a badly flawed effort.

Instead, under the OCC’s new approach — which will be spelled out in enforcement actions in a couple of weeks — more than 3.8 million borrowers who faced foreclosure between Jan. 1, 2009 and Dec. 31, 2010 stand to get some payment regardless of whether they actually suffered any harm.

The mortgage servicing banks covered are Bank of America, Wells Fargo, Citibank, JPMorgan Chase, SunTrust, PNC, Sovereign, U.S. Bank, MetLife Bank and Aurora.

The agreement provides for $3.3 billion to go directly to borrowers. Another $5.2 billion is earmarked for loan modifications and the forgiveness of deficiency judgments.

The OCC said the amount that eligible borrowers get will range from a few hundred dollars up to $125,000, depending on the type of error that possibly occurred in their mortgage servicing.

“If a borrower went through foreclosure with one of those 10 lenders, they should receive a couple hundred bucks, whether they deserve it or not,” said Guy Cecala, publisher and CEO of Inside Mortgage Finance Publications in Bethesda, Md., which tracks news and statistics in the residential mortgage industry. “The odds of getting $125,000 is the odds of winning the lottery. It would have to be a false foreclosure or where they were thrown out of their house illegally.”

The OCC will look to 13 broad categories of errors outlined in the Independent Foreclosure Review launched in April 2011.

Those include a litany of bumblings and misdeeds by the mortgage servicers, ranging from foreclosing on a homeowner who was following the rules during a trial period of a loan modification, to failing to offer a loan modification as mandated under a government program, to failing to follow up with a borrower to obtain needed documents under a government program.

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Miami doctors, Walgreens join race for ACOs

With Walgreens joining insurers and hospitals in a race to reshape healthcare delivery in the country, a group of 75 doctors has become the first federally approved accountable care organization in Miami-Dade, Medicare officials announced Thursday.

South Florida ACO and the drugstore chain were on a list of 106 groups receiving approval to offer integrated care that is intended to improve quality and lower healthcare costs, with the providers sharing in any savings.

The concept, part of the Affordable Care Act, has sparked a race among major healthcare providers throughout the country. Many hospitals are hiring doctors and other groups are organizing networks that are expected to create a major shift in the nation’s healthcare system.

Many healthcare experts believe growing numbers of doctors will soon work for large entities. Jorge Acevedo-Crespo, a Miami pulmonologist, said he brought together the South Florida ACO to avoid that trend.

“I think it’s best for doctors to control healthcare — not hospitals, not insurance companies,” Acevedo-Crespo said Thursday.

One reason commonly given by Medicare for setting up ACOs is that many patients discharged from hospitals are quickly readmitted because they do not take required medications or have follow-up visits with their doctors.

Walgreens, the national drugstore chain, believes it can help fix those kinds of problems, starting with the three ACOs it has set up, including one in the Tampa area.

Jeffrey Kang, the physician who is running the Walgreens ACO effort, said one example of how coordinated care can work is a Walgreens pilot program in which pharmacists checked to see that patients were taking the proper meds after being released from hospitals. That program reduced readmissions by 40 percent, Kang said.

“Walgreens is a very natural partner” for physicians, Kang said. In Tampa, it is working with Diagnostic Clinics, which employs doctors. Many of the chain’s stores already contain Take Care clinics, which employ nurse practitioners to treat minor ailments.

“Walgreens provides 365-day-a-year, convenient, accessible, face-to-face health offering for the public,” Kang said. “We’re now the largest provider of vaccinations in the country. And we’re second in hypertension and diabetes screening.”

Walgreens is heavily promoting its virtues as it enters a competition that is growing increasingly intense. Fifteen other Florida entities were granted ACOs Thursday — most of them in the Tampa-Orlando-Jacksonville area.

Florida Blue has already set up informal ACOs, with Holy Cross doctors in Fort Lauderdale and with Baptist Health South Florida and a group of oncologists in Miami-Dade. But the state’s largest health insurer has not yet sought official federal approval, which carries with it a complex series of requirements.

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Unemployment claims on the rise in Miami-Dade

Miami-Dade County ended 2012 with more people joining the unemployment rolls than it did last year.

The late-year increase in first-time unemployment claims broke a trend of declining applications throughout most of 2012. First-time claims spiked about 15 percent in November and December, with about 17,500 new applications in all over those 60 days. That’s compared to 15,000 during the same time in 2011. For the entire year, claims were still down about 10 percent.

In Broward, overall claims were down 15 percent. In November and December, Broward residents applies for 10,200 first-time unemployment benefits, compared to about 10,500 in 2011 — a 3 percent drop.

DOUGLAS HANKS

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4 smartphones with standout features

These days, smartphones are almost all drawing from the same bag of tricks, and it can be hard to tell one from the next. If the average smartphone will do all the basic things you want it to, what does it take to be special? Here are four smartphones with unusual features that really make them stand out.

Nokia Lumia 920

Rating: 4 stars out of 5 (Excellent)

The good: This phone forges new Windows Phone ground with wireless-charging support and a highly sensitive screen you can use with gloves. Moreover, Nokia helps fill in Windows Phone OS gaps with a few missing features.

The bad: A thick, heavy build and slippery finish for some colors make the Lumia 920 harder to hold and carry, and the phone’s overhyped camera doesn’t have enough settings.

The cost: $99.99

The bottom line: Nokia’s Lumia 920 is heavy and thick, but if you want the most powerful, feature-rich Windows Phone smartphone available, this is it.

Samsung Galaxy Note 2

Rating: 4 stars out of 5 (Excellent)

The good: Oodles of screen real estate make this terrific for videos, games, and reading, and its improved stylus aids productivity. A blazing quad-core processor, a great camera and strong battery life round out the advantages of this Android 4.1 phone.

The bad: The huge display makes it unwieldy to carry, and hiccups in the S Pen stylus and apps can slow you down. The pricey Note 2 isn’t a suitable tablet replacement across all categories.

The cost: $149.99 to $309.99

The bottom line: Samsung delivers a powerful, boundary-pushing device that gets a lot right. Yet its complicated features and high price raise questions about its purpose.

Motorola Droid Razr Maxx HD

Rating: 4 stars out of 5 (Excellent)

The good: This Droid (Verizon) offers fast performance, a big, eye-popping screen and luxurious design. It also has great call quality, lots of storage, 4G data speeds, and unbeatable battery life.

The bad: The major weakness is a camera that produces subpar images. The phone is filled with Verizon bloatware as well.

The cost: $149.99 to $299.99

The bottom line: Motorola’s fast, stylish Droid Razr Maxx HD offers outstanding battery life, but its camera captures unimpressive images.

Samsung Galaxy Beam

Rating: 3.5 stars out of 5 (Very good)

The good: An integrated pico projector, as well as a dual-core processor, 720p video capture and a 4-inch Super AMOLED screen.

The bad: The projection software needs some work, the 5-megapixel camera sometimes blurs indoor shots, and the Beam is thicker and heavier than many phones.

The cost: $474.49 to $839.99

The bottom line: Despite weak software, the Galaxy Beam’s bright projector pushes boundaries, and strong smartphone features make it a worthy standalone device.

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Florida company provides electrical power for the world

More than 4,000 miles from its home base in Doral, Energy International is helping keep the lights on and the power grid humming in Gibraltar, the British territory on the southern tip of the Iberian Peninsula.

Energy International, a global provider of power plants and energy solutions, sent a temporary plant that will provide power for at least the next two years while a more permanent fix is sought for the territory’s erratic and aging electrical system.

The Doral company was founded 14 years ago as MCA Power Systems and its initial goal was to pursue energy contracts in Latin America. It began 2000 with a name change and in recent years its focus has become global.

“The world needs energy,’’ said Brett Hall, EI’s vice president of finance.

While the 2007-2008 recession curtailed the growth of worldwide energy demand, the U.S. Energy Information Agency has projected that global demand for electricity will increase by 2.3 percent annually from 2008 to 2035.

The potential is especially strong in developing nations. The International Energy Agency estimated that in 2009, 21 percent of the world’s population — 1.4 billion people — didn’t have access to electricity. In sub-Saharan Africa, the percentage of people without power rises to 69 percent.

Energy International has expanded sales from Latin America and the Caribbean to Europe, Africa and the Middle East, boosting revenue from $100 million annually in 2009 to more than $300 million today, Hall said. This year, EI is anticipating revenue of $350 million to $375 million.

In the next seven years the company, which is privately owned by American shareholders and affiliated with Gecolsa — the Caterpillar dealership in Colombia — hopes revenue will top $1 billion, he said.

Even though Energy International is based in the United States, it does little work domestically. Its sweet spot is emerging economies and contracts of $100 million or less.

“Our focus is to do whatever makes the most economic sense for a particular market,’’ said Hall.

“We’re not going to be building a nuclear power plant,’’ he said. But EI will accommodate its solutions to local fuel supplies whether it’s biofuel, natural gas or heavy fuels that are more prevalent.

When it comes to the type of temporary power solution needed by Gibraltar, which had been plagued by a string of power outages at its archaic electrical facilities, EI can have a temporary plant up and running in 30 to 40 days, supplying the engineering, rental turbines and other equipment and doing the installation.

“We were able to support Gibraltar’s power needs on short notice,’’ said Andres Molano, EI’s vice president of sales. “Some of their equipment required major maintenance and they needed to stop their plants.’’

EI, one of the world’s largest suppliers of interim energy solutions, signed a $12 million contract with the government of Gibraltar in November and the plant was operational by Dec. 21. The agreement includes an option for a three-year extension.

The equipment now in use in Gibraltar is considered part of EI’s fleet and will move on to other energy emergencies when its service in the territory famed for the Rock of Gibraltar is complete.

But when it comes to its permanent power plants, EI will build a facility for a client looking to generate its own power or construct a plant, run it and sell power directly to the final user.

“We can do all the work ourselves. We have all the skills in house — finance, design, operations, maintenance, building and the equipment,’’ said Hall.

Energy International has moved into the Middle East, completing projects in Oman and Yemen and establishing a subsidiary in Dubai in 2012 to pursue business in Africa and the Middle East, said Molano.

“Africa is new to us, but we believe there are opportunities there,’’ he said.

The company also is looking for continued growth in Latin America, especially in Colombia, which is now attracting foreign investors who previously had been spooked by violence.

Remote areas of the Amazon where temporary power solutions are needed also represent opportunity for the company.

“EI is very fortunate to be in a position in which we have more excellent opportunities than capital.’’ said Hall, so this year it will be concentrating on raising equity to finance growth.

“One of our biggest challenges in 2013,’’ Hall said, “will be to find investors or joint venture partners to provide capital that will enable EI to perform these projects so our aggressive revenue growth targets can be achieved.’’

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Billionaire Phillip Frost an ‘entrepreneur’s entrepreneur’

For that blind first date, a half-century ago, the young doctor, Phillip Frost, showed up at Patricia Orr’s family house in suburban New York, with an unusual gift: a miniature mushroom garden.

In the 50 years since, Frost, the son of a shoe store owner, has gone on to amass a fortune of $2.4 billion, according to Forbes magazine, becoming the 188th wealthiest man in the United States by developing and selling pharmaceutical companies. Along the way, he and Patricia have become major philanthropists in Miami-Dade County and they’ve signed a pledge to give away at least $1 billion more.

“He’s a relentless guy,” says Miami banker Bill Allen, who’s know him for more than 40 years. “He’s not afraid to take risks. ... He knows the intimate details of the chemistry of products, and he’s the kind of guy who can examine 50 deals while eating a sandwich.”

CNBC’s Jim Cramer recently praised Frost’s “incredible track record” for developing companies, calling Frost’s latest endeavor, OPKO Health, a “very risky” investment while noting it could offer huge gains under Obamacare.

But back in 1962, Patricia’s first impression was that Phil Frost was a bit of a nerd, finishing his medical internship with a strong interest in research — including mushrooms. She figured an academic career loomed.

“My mother was very impressed,” recalls Patricia, not so much by the M.D. behind Frost’s name but by the gift, something more serious than the usual flowers or candy. Serious was fine with Patricia, who was living at home while working toward a master’s degree in education at Columbia University. For their first date, they listened to a classical music concert.

Frost’s rise to riches may seem highly distinctive, but in an odd coincidence he has much in common with another prominent Miamian. Frost, 76, and car dealer Norman Braman, 80, both frequently appear on the Forbes list of wealthiest Americans. Both grew up in Philadelphia — Frost the son of a man who sold shoes, Braman son of a barber. Both are Jewish, well-known art collectors and philanthropists.

“He’s an entrepreneur’s entrepreneur,” says Braman. “We have a lot in common, coming from very poor families. But he went to Central High (a public school for exceptional students) and I was not qualified to go there.”

There are other differences. While Braman is voluble and highly visible in the causes he supports, Frost tends to be a reticent, almost shy speaker, given to careful pauses.

‘Lucky chances’

Told that a former colleague had called Frost “lucky,” Frost thought for a long moment. He could have cited many national business stories about his business acumen. Instead, he responded crisply: “I’ll be satisfied with lucky. I benefited from chance meetings.”

Frost spent his first years living above the shoe shop within an Italian market in South Philly. His two brothers were 15 and 16 years older. “I was an afterthought.”

The family was religiously observant, and Frost recalls his father singing him songs in Yiddish when he was small. He lived at home while attending the University of Pennsylvania, except for a year abroad in France. He took many science courses, but his major was French literature.

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Billionaire Phillip Frost an ‘entrepreneur’s entrepreneur’

For that blind first date, a half-century ago, the young doctor, Phillip Frost, showed up at Patricia Orr’s family house in suburban New York, with an unusual gift: a miniature mushroom garden.

In the 50 years since, Frost, the son of a shoe store owner, has gone on to amass a fortune of $2.4 billion, according to Forbes magazine, becoming the 188th wealthiest man in the United States by developing and selling pharmaceutical companies. Along the way, he and Patricia have become major philanthropists in Miami-Dade County and they’ve signed a pledge to give away at least $1 billion more.

“He’s a relentless guy,” says Miami banker Bill Allen, who’s know him for more than 40 years. “He’s not afraid to take risks. ... He knows the intimate details of the chemistry of products, and he’s the kind of guy who can examine 50 deals while eating a sandwich.”

CNBC’s Jim Cramer recently praised Frost’s “incredible track record” for developing companies, calling Frost’s latest endeavor, OPKO Health, a “very risky” investment while noting it could offer huge gains under Obamacare.

But back in 1962, Patricia’s first impression was that Phil Frost was a bit of a nerd, finishing his medical internship with a strong interest in research — including mushrooms. She figured an academic career loomed.

“My mother was very impressed,” recalls Patricia, not so much by the M.D. behind Frost’s name but by the gift, something more serious than the usual flowers or candy. Serious was fine with Patricia, who was living at home while working toward a master’s degree in education at Columbia University. For their first date, they listened to a classical music concert.

Frost’s rise to riches may seem highly distinctive, but in an odd coincidence he has much in common with another prominent Miamian. Frost, 76, and car dealer Norman Braman, 80, both frequently appear on the Forbes list of wealthiest Americans. Both grew up in Philadelphia — Frost the son of a man who sold shoes, Braman son of a barber. Both are Jewish, well-known art collectors and philanthropists.

“He’s an entrepreneur’s entrepreneur,” says Braman. “We have a lot in common, coming from very poor families. But he went to Central High (a public school for exceptional students) and I was not qualified to go there.”

There are other differences. While Braman is voluble and highly visible in the causes he supports, Frost tends to be a reticent, almost shy speaker, given to careful pauses.

‘Lucky chances’

Told that a former colleague had called Frost “lucky,” Frost thought for a long moment. He could have cited many national business stories about his business acumen. Instead, he responded crisply: “I’ll be satisfied with lucky. I benefited from chance meetings.”

Frost spent his first years living above the shoe shop within an Italian market in South Philly. His two brothers were 15 and 16 years older. “I was an afterthought.”

The family was religiously observant, and Frost recalls his father singing him songs in Yiddish when he was small. He lived at home while attending the University of Pennsylvania, except for a year abroad in France. He took many science courses, but his major was French literature.

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Needle reaches the inner groove for Spec’s

In the end, even the almighty Adele and Taylor Swift could not hold back the inevitable.

Spec’s, one of the last great record stores, will close its flagship location in Coral Gables on U.S.1, thus joining once-favored chains like Virgin, Tower and Peaches, locally and abroad, that have withered from Internet shopping.

With the closing, sometime in January after the merchandise is liquidated, 64 years of history becomes memory for countless people who discovered a love of music in the home Martin “Mike” Spector built in 1948 when U.S.1 was but a two-lane road.

The original store, which sold cameras alongside 78-rpm records, was a few blocks south on the highway in South Miami and is now an Einstein’s bagel spot. The present location, opened in 1953 in Coral Gables, lived through the bobby sox era, Beatlemania, disco, punk, hip hop/rap, grunge, electronic dance music and all the format changes including 12-inch vinyl, 45-rpm, reel to reel, 8-track, cassette, compact disc and mp3.

After the first music industry recession in the late 1970s, Spec’s still managed to double in size by breaking through the walls of two restaurants in 1980 on its north side. The original room on the south side of the building would house, first, Spec’s’ VHS movie rentals and sales — Saturday Night at Spec’s! — and, later, one of the most expansive collections of classical music in town.

“It’s the soundtrack of our lives,” said store manager Lennie Rohrbacher, who spent 23 years of his life working at Spec’s, from Clearwater to Coral Gables

Music sales

At its peak, the Spec’s chain grew to some 80 stores in Florida and Puerto Rico. In 1993, annual sales exceeded $70 million. Spec’s went public in 1985 and, in 1998, the Spectors sold to Camelot Music Group, which was acquired by Trans World Entertainment Corp.

Trans World, which did not return several telephone messages, shrewdly kept the Spec’s name attached to the flagship store as goodwill even though, technically, it operated under the company’s retail subsidiary, F.Y.E. (For Your Entertainment).

But those are the cold, hard business facts.

Spec’s was “not like another Eckerd’s,” a drug store chain that also slipped into oblivion amid changing times, said Rohrbacher. “This was part of the community, part of my life. It’s not another store going under.”

Indeed, Spec’s was, first and foremost, a community gathering spot to share a love of music. In the ‘70s and ‘80s Spec’s resembled a makeshift camp site where people would sleep overnight in the parking lot to get the best shot at concert tickets in a pre-Internet world. Spec’s, a hop-skip from the University of Miami’s music school, served as its own music education outlet thanks to a knowledgeable sales staff.

Music education

“The proximity to the UM is prime real estate. Not to have it there will really be different. Even if they didn’t have what I was looking for, the staff was knowledgeable and you were sort of tapping into this knowledge base of people who could turn you on to new music. That’s what I’ll miss about it and the community around the store,” said Margot Winick, an employee at the Coral Gables Spec’s in the mid-1980s when she was a freshman at the UM.

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The return of the cranes: Miami-Dade construction projects on the horizon in 2013

The cranes are coming back to Miami.

The battered construction industry is going higher in the new year after showing strong signs of life in 2012. Will Miami feel more like Manhattan in a few years? It just might.

So far, there has been more talk than action, fewer shovels in the ground than grand announcements. Even so, construction is underway on a dozen new condominiums in Miami-Dade County — something that seemed beyond the realm of possibility not so long ago.

Commercial building is picking up, too, particularly in Miami’s hot new urban core.

The construction sector, which posted 62 consecutive months of job losses in Miami-Dade as of November 2012, is expected to finally begin adding jobs in 2013.

By far the centerpiece project to date is Brickell CityCentre, a $1.05 billion shopping and mixed-use project that broke ground in June 2012 and will span three blocks just west of Brickell Avenue to the south of the Miami River.

The 5-million-square-foot mega-project by developer Swire Properties will include a department store, luxury shops, restaurants, a hotel, office towers and condominiums. It is expected to be connected with bridges and covered walkways and to cement downtown Miami’s emerging image as a trendy place to work, live and play.

In Brickell alone, three new condominium projects already are under construction: Jorge Perez’s Related Group is building Millecento, a 42-story tower with 382 units, and MyBrickell, a smaller project with 28 stories and 192 units shoehorned onto a 0.4-acre site. Newgard Development Group is building BrickellHouse, a 46-story, 374-unit project.

More building, much more, is coming.

“We’re going to see a lot of cranes popping up in the first and second quarter, and a year from now, we’re going to see cranes all over the skyline,” said Tom Murphy Jr., chairman and CEO of Coastal Construction, a large Miami builder that is involved in various projects, from hotels to condominiums. “I believe we as a community — South Florida, especially Miami — will build more in the next 10 years than we did in the last 15.”

Among a long roster of projects, Coastal was tapped by developer DACRA for a major renovation project in the Design District, which in 2012 marked the arrival of luxury fashion retailers such as Cartier, Hermes, Louis Vuitton, Celine, Christian Dior and Prada, adding a new dimension to an area already known for home furnishings and restaurants.

DACRA president and CEO Craig Robins has a broader plan to bring in 40 to 50 luxury brands to the Design District by 2014. The area will have a pedestrian promenade, rooftop gardens and public plazas, in keeping with Miami’s emerging urban scene.

The focus on commercial development in Miami’s urban core, is all about providing more services to cater to the new residents who want everything within walking distance.

Spanish developer Espacio USA will break ground in 2013 on the first phase of a $412 million mixed-use project at 1400 Biscayne Boulevard. Starting with one 103,000-square foot office tower, the project will eventually include retail shops and residential units.

“It’s becoming much more of a New York lifestyle, and we’ll continue to see that,” said Ron Shuffield, president of Esslinger-Wooten-Maxwell Realtors in Coral Gables.

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Portion of Macy’s Flagler Street property in downtown Miami sold

A New York firm bought part of the Macy’s building in downtown Miami and is expected to acquire the rest. The next priority is negotiating a new lease to keep Macy’s as a tenant.

In a deal that could have implications for the future of downtown Miami’s anchor retail tenant, a New York real estate investment firm paid $15.55 million to acquire more than half the property that now houses Macy’s Flagler Street store.

The acquisition by Aetna Realty Group includes the 48,000 square feet of land that was leased to R.W. Burdine in 1917. Until the recent sale, the property was owned by 23 heirs of Richard and Harriet Ashby, who signed the initial 99-year lease with Burdine. The lease expires in 2016.

The Ashby family began taking steps to prepare the property at the intersection of Miami Avenue and Flagler Street for sale nearly four years ago, said Lewis R. Cohen, a GrayRobinson lawyer who represented the Ashby family in the transaction that closed on New Year’s Eve.

Over the years, Macy’s and its predecessor, Burdines, grew the site’s downtown presence well beyond the Ashby land, and the current building now extends another 30,000 square feet of land. Aetna has also made a commitment to purchase the remaining portion of the building, that is currently owned by Macy’s, Cohen said. But that deal hasn’t closed yet.

“That deal is a sure thing,” Cohen said. “They could not have closed with us without having an agreement with Macy’s completely nailed down.”

When Macy’s decided not to purchase the Ashby land itself, the owners soughta third-party that could control both pieces. The reason: Improvements made to the store over the years straddled both properties, such as elevators and escalators starting on one parcel and ending on another.

“Between the engineering difficulties of severing the properties and the legal issues involved, it would have been somewhere between extremely expensive and impossible” for different entities to share control, Cohen said.

Aetna was one of three bidders interested in the site, Cohen said. One of the other players was the Barlington Group, a Miami developer that in 2011 signed a deal with Macy’s to sub-lease 20,000 square feet of empty ground-floor space for a mix of restaurants and cafes.

Macy’s spokesman Jim Sluzewski said this transaction doesn’t impact Macy’s current lease. He declined to comment on any other pending transaction regarding the property the retailer owns in downtown Miami.

“It’s business as usual,” said Sluzewski, who also would not discuss Macy’s long-term plans for downtown Miami beyond the expiration of its lease. The company’s roots in downtown Miami date to 1898, when the first Burdines opened in a nearby downtown location.

Aetna and its local attorneys did not respond to calls Wednesday for comments.

But Cohen said Macy’s is in the process of finalizing a short-term deal with the new owners.

“They intend to stay for at least the foreseeable future,” Cohen said. “For a minimum of five years they’ll be there and possibly longer.”

Downtown scene

Macy’s long-term future on Flagler Street has been in doubt since 2007, when Macy’s Florida then-Chairwoman Julie Greiner took city leaders to task for the deplorable conditions in downtown and threatened that the retailer might leave.

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Housing, jobs key to lifting S&P toward record

NEW YORK --
With it appearing that Washington lawmakers are working their way past the “fiscal cliff,” many analysts say that the outlook for stocks in 2013 is good, as a recovering housing market and an improving jobs outlook helps the economy maintain a slow, but steady recovery.

Reasonable returns in 2013 would send the S&P 500 toward, and possibly past, its record close of 1,565 reached in October 2007.

A mid-year rally in 2012 pushed stocks to their highest in more than four years. Both the Standard & Poor’s 500 and the Dow Jones industrial average posted strong gains in 2012. Those advances came despite uncertainty about the outcome of the presidential election and bouts of turmoil from Europe, where policy makers finally appear to be getting a grip on the region’s debt crisis.

“As you remove little bits of uncertainty, investors can then once again return to focusing on the fundamentals,” says Joseph Tanious, a global market strategist at J.P. Morgan Funds. “Corporate America is actually doing quite well.”

Although earnings growth of S&P 500 listed companies dipped as low as 0.8 percent in the summer, analysts are predicting that it will rebound to average 9.5 percent for 2013, according to data from S&P Capital IQ. Companies have also been hoarding cash. The amount of cash and cash-equivalents being held by companies listed in the S&P 500 climbed to an all-time high $1 trillion at the end of September, 65 percent more than five years ago, according to S&P Dow Jones Indices.

Assuming a budget deal is reached in a reasonable amount of time, investors will be more comfortable owning stocks in 2013, allowing valuations to rise, says Tanious.

Stocks in the S&P 500 index are currently trading on a price-to-earnings multiple of about 13.5, compared with the average of 17.9 since 1988, according to S&P Capital IQ data. The ratio rises when investors are willing to pay more for a stock’s future earnings potential.

The stock market will also likely face less drag from the European debt crisis this year, said Steven Bulko, the chief investment officer at Lombard Odier Investment Managers. While policy makers in Europe have yet to come up with a comprehensive solution to the region’s woes, they appear to have a better handle on the region’s problems than they have for quite some time.

Stocks fell in the second quarter of 2012 as investors fretted that the euro region’s government debt crisis was about to engulf Spain and possibly Italy, increasing the chances of a dramatic slowdown in global economic growth.

“There is still some heavy lifting that needs to be done in Europe,” said Bulko. Now, though, “we are dealing with much more manageable risk than we have had in the past few years.”

Next year may also see an increase in mergers and acquisitions as companies seeks to make use of the cash on their balance sheets, says Jarred Kessler, global head of equities at broker Cantor Fitzgerald.

While the number of M&A deals has gradually crept higher in the past four years, the dollar value of the deals remains well short of the total reached five years ago. U.S. targeted acquisitions totaled $964 billion through Dec. 27, according to data tracking firm Dealogic. That’s slightly down from last year’s total of $1 trillion and about 40 percent lower than in 2007, when deals worth $1.6 trillion were struck.

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Housing, jobs key to lifting S&P toward record

NEW YORK --
With it appearing that Washington lawmakers are working their way past the “fiscal cliff,” many analysts say that the outlook for stocks in 2013 is good, as a recovering housing market and an improving jobs outlook helps the economy maintain a slow, but steady recovery.

Reasonable returns in 2013 would send the S&P 500 toward, and possibly past, its record close of 1,565 reached in October 2007.

A mid-year rally in 2012 pushed stocks to their highest in more than four years. Both the Standard & Poor’s 500 and the Dow Jones industrial average posted strong gains in 2012. Those advances came despite uncertainty about the outcome of the presidential election and bouts of turmoil from Europe, where policy makers finally appear to be getting a grip on the region’s debt crisis.

“As you remove little bits of uncertainty, investors can then once again return to focusing on the fundamentals,” says Joseph Tanious, a global market strategist at J.P. Morgan Funds. “Corporate America is actually doing quite well.”

Although earnings growth of S&P 500 listed companies dipped as low as 0.8 percent in the summer, analysts are predicting that it will rebound to average 9.5 percent for 2013, according to data from S&P Capital IQ. Companies have also been hoarding cash. The amount of cash and cash-equivalents being held by companies listed in the S&P 500 climbed to an all-time high $1 trillion at the end of September, 65 percent more than five years ago, according to S&P Dow Jones Indices.

Assuming a budget deal is reached in a reasonable amount of time, investors will be more comfortable owning stocks in 2013, allowing valuations to rise, says Tanious.

Stocks in the S&P 500 index are currently trading on a price-to-earnings multiple of about 13.5, compared with the average of 17.9 since 1988, according to S&P Capital IQ data. The ratio rises when investors are willing to pay more for a stock’s future earnings potential.

The stock market will also likely face less drag from the European debt crisis this year, said Steven Bulko, the chief investment officer at Lombard Odier Investment Managers. While policy makers in Europe have yet to come up with a comprehensive solution to the region’s woes, they appear to have a better handle on the region’s problems than they have for quite some time.

Stocks fell in the second quarter of 2012 as investors fretted that the euro region’s government debt crisis was about to engulf Spain and possibly Italy, increasing the chances of a dramatic slowdown in global economic growth.

“There is still some heavy lifting that needs to be done in Europe,” said Bulko. Now, though, “we are dealing with much more manageable risk than we have had in the past few years.”

Next year may also see an increase in mergers and acquisitions as companies seeks to make use of the cash on their balance sheets, says Jarred Kessler, global head of equities at broker Cantor Fitzgerald.

While the number of M&A deals has gradually crept higher in the past four years, the dollar value of the deals remains well short of the total reached five years ago. U.S. targeted acquisitions totaled $964 billion through Dec. 27, according to data tracking firm Dealogic. That’s slightly down from last year’s total of $1 trillion and about 40 percent lower than in 2007, when deals worth $1.6 trillion were struck.

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South Florida’s biggest business stories of 2012

For South Florida’s economy, 2012 centered on one main question: Would the recovery continue?

The answer: Yes, and slowly.

Housing values continue to climb, unemployment rates shrink, hiring grows and spending strengthens. And yet 2012 ends on the same general theme as 2011: Things are getting better, but at a slow enough pace that South Florida will have to wait at least another year for a healthy recovery to begin.

Behind the broad economic tide, news crashed onto the scene. And now it falls on Business Monday to rank their significance.

We do this each year December as a way to put the year’s business news in perspective. For the rankings, we use three criteria.

First, how important was the news for South Florida’s economy? We only have 10 slots to fill, so the news needs to be big.

Second, how unique was the news to South Florida? National events can have major impacts in South Florida, but we’re looking for news that’s particularly noteworthy to the region.

Third, how unique was the news to this year? Long-term trends can impact an economy for years, but we’re looking for stories clearly linked to 2012.

On to the rankings...

10: One Community One Goal plan released

Miami-Dade’s economic development agency, the Beacon Council, spent more than a year drawing up what’s supposed to be a blueprint for the county’s economic future. We won’t know for years whether the One Community One Goal plan will actually guide leaders’ decisions as they decide on education priorities and corporate-recruitment targets. The authors of this report boasted that they were determined not to have the latest version seen as obsolete the way the 1996 version was. But with hundreds of people involved in the forums that led to the report, One Community One Goal is sure to be cited in debates and discussion about Miami-Dade’s economy for years to come.

9. Ryder gets a new CEO

It was a tumultuous year for the Miami-Dade trucking giant, which spent the summer backing off early predictions of strong recovery for clients. In July, Ryder CEO Gregory Swienton announced companywide cost cuts to combat flat sales in a year he had originally seen as going well. That move included 60 job cuts at Ryder’s headquarters in western Miami-Dade, out of 450 across the country The end of 2012 brought another big announcement: Swienton was retiring in two weeks, and handing over the top job to his longtime deputy, Ryder COO Robert Sanchez.

Swienton, 63, said he was looking forward to getting back to Texas, where most of his grandchildren live. The board praised Swienton’s 13-year tenure, which saw Ryder stock rise from $17 a share to $50 a share.

Sanchez, 47, is only the company’s fifth CEO since its founding in the Great Depression. A Miami native, he becomes one of only three CEOs of a Fortune 500 company headquartered south of Palm Beach County. The other: AutoNation’s Mike Jackson and World Fuel Services’ Michael Kasbar.

8. Miami Marlins Buyers Remorse

The debut season of Miami’s first official Major League Baseball team brought a string of disappointments on and off the field. Promises of a revitalized Little Havana retail scene around the tax-funded stadium instead brought vacant storefronts. Attendance, a big part of the economic argument for the $635 million stadium, ended up being the worst for a new ballpark in 30 years.

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Week brings startup launches, social media advice for 2013

Jared Kleinert, a South Florida entrepreneur, plans to soon launch Synergist, a platform that allow social entrepreneurs to meet potential co-founders online, collaborate and crowdfund their new projects. He also just launched AliveNDead, a blog about risk-taking, and he interns for a Silicon Valley startup.

And when he’s not doing all that, he’s going to class — he’s a junior at Spanish River High School in Boca Raton.

Lester Mapp is CEO and founder of the new Miami-based startup called designed by m. His team has just designed a sleek, ultra-thin aluminum iPhone bumper and launched the project on Kickstarter. After just a few days, Mapp is already more than a third of the way to his $20,000 fund-raising goal.

Read about both these entrepreneurs on The Starting Gate blog, where there’s also a post on the most pressing issues facing small businesses in the coming year — taxes, healthcare, lending and a skilled worker shortage, for starters.

And as you are ringing in the New Year, you may be resolving to beef up your business’ social media strategy. Susan Linning's guest post offers five top tips for boosting your social media effectiveness. Among them: Go beyond retweets and make your posts original, fun and personal (but not too personal.) Use visuals, too. Find this and other news, views and tools for entrepreneurs on the blog, which is at the bottom of MiamiHerald.com /business.

Follow me on Twitter @ndahlberg and Happy New Year to all.

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