P u b l i s h e d i n c o o p e r a t i o n w i t h T h e M i a m i B e a c h C h a m b e r o f C o m m e r c e –––––––––––––––––––––––––––––––––––––––––––––––––––––– C o n n e c t i n g L o c a l B u s i n e s s e s s i n c e 1 9 5 8
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Miami Beach Chamber hosts 6th Annual Champions of Business Luncheon
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early 200 young and notable business professionals from around the community joined the Emerging Leadership Council of the Miami Beach Chamber of Commerce on Friday, August 24th to listen and learn from the best of the best at the 6th annual “Champions of Business” Luncheon sponsored by National Planning Corporation. Held at The Forge Restaurant and Wine Bar’s extravagant yet intimate venue, guests enjoyed a delicious meal while interacting with a discussion panel of industry champions from various fields. This year’s panelists included Alex Havenick of Magic City Casino, Lucy Morillo-Agnetti, an award winning busi–––––––––––––
See
CHAMPIONS, page 4
Alex Havenick, Michelle Villalobos, Josh Wallack, Lucy Morillo-Agnetti, Brenda Vargas and Brad Meltzer ––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––
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Sabrina Cohen nationally recognized by SELF Magazine BY CHARLOTTE LIBOV
hamber member Sabrina Cohen is a winner in SELF magazine’s “Women Doing Good” contest and is heading to New York City to be honored at a celebrity awards dinner, where Sabrina will receive $10,000 for her nonprofit organization that raises money for medical research. She is also the guest of honor at the Shore Club’s September 6th celebration at 7 p.m. where her fellow Chamber members, family and friends will see her off. Sabrina, who earlier this year won $10,000 in the Examiner.com “America Inspired” contest, was stunned to learn she’d also won this latest honor. But it also means something special for this Miami Beach native to be showcased in SELF’s current issue. The photo, taken at South Pointe Park, shows her as the epitome of a Miami Beach trendsetter, sitting with her legs crossed, her feet encased in trendy highheeled platform shoes, and her hair blowing in the breeze. Cohen holds the proclamation given to her by the City of Miami Beach for winning the “Overcoming Adversity” category in Examiner.com’s America Inspired Contest.
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See
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Phone: 305-669-7355
Letter from the Chair One of the best sources of new customers is referrals. They are pre-qualified by our existing customers to get something out of our services and are likely to already have a favorable view. It’s also the highest testament to how we are currently running our business. If we’re doing a good job, people tend to share their experience with their friends. But sometimes our customers need a little encouragement, or simple reminding, to make that referral. Similarly, I hope that your membership experience with the Miami Beach Chamber of Commerce has been a positive and rewarding one. If we’ve fulfilled our promise, I encourage you to tell your friends, colleagues and other contacts about the benefits of joining our organization. I can’t believe that it’s been 17 years since I joined the Chamber. I’m proud of its growth and we are able to accomplish bigger and better goals every day because of the diversity and strength of the group. Along the way, I’ve met so many individuals who have inspired me, mentored me, or even did a simple favor that helped catapult my business, as well as help me grow as a professional. Everyday, I enjoy reconnecting with old colleagues, many of whom have become friends too, but also meeting new faces at the Chamber and drawing from their own fresh ideas. We always refer to the passion of our members, and I urge you to remember that part of that passion is sharing the Chamber with others. Tell your contacts. If the Chamber grows, we also grow as members. More minds means more resources and power to tap into. We not only have a first rate-network representing a broad spectrum of industries, but a worldclass community with economic vitality, social purpose and connected residents. Miami Beach is truly a sophisticated city, running on a global scale. Within there is so much talent and perspectives that we could all learn from. As Chamber members, it is our duty to also help them in achieving their aspirations. So start spreading the word! At your service, Jason Loeb
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LEADERSHIP SPOTLIGHT
JIMMY MORALES Miami Beach native Jimmy Morales has mittee as well as Chairman of the Mayor’s been dedicated to both community service Task Force on Efficiency and Competition. and public leadership in his hometown since He was also the Miami-Dade Liaison to the he was a kid. From captain Miami Downtown of the Safety Patrol at Development Authority and the Biscayne Elementary to Miami-Dade County League of Student Council President at Cities. After leaving elected both Nautilus Junior High office, Jimmy served as the and Miami Beach Senior Chairman of the Miami-Dade High, and even as recently Democratic Party from 2005as a few years ago when he 2007, and was elected as a deleserved as the Chief Special gate to the Democratic National Master for the City of Miami Convention in 2008. Beach, Jimmy has always Jimmy also has a long histocared about giving back to a ry of community service. He city that gave him so much. was the recipient of the Miami Jimmy has been practicing Herald Silver Knight Award law for 25 years since graduwhen he graduated Beach High ating from Harvard Law in recognition of his volunteer JIMMY MORALES School. Upon graduation, work. He has served or curJimmy served as a law clerk rently serves in leadership posifor United State District Court Judge Edward tions with some of the leading organizations B. Davis in the Southern District of Florida. in Florida, including the Board of Governors Jimmy then worked as an international cor- of the Miami Beach Chamber of Commerce, porate attorney at firms in Washington, D.C. the Co-chairman of the Board of Trustees and New York before returning to Miami. (Miami Chapter) for Autism Speaks, Currently, Jimmy is a Shareholder and mem- Chairman of the Board of Directors for the ber of the Board of Directors at the law firm Silver Knight Alumni Legacy Network, of Stearns Weaver Miller Weissler Alhadeff Chairman of Heart of a Chef (2010-2012) for & Sitterson, P.A., where he specializes in the Florida Heart Research Institute, the Local Government Law. Among his repre- South Florida National Parks Trust, and the sentations, Jimmy serves as the City Attorney American Red Cross. He has devoted countfor the City of Doral, General Counsel to the less hours of volunteer time with these and Florida Atlantic Research and Development other organizations to address critical issues Authority, and Special Master for the Town in the community. Jimmy met the love of his life, Dori Fosterof Surfside. One of the lessons he learned as a young Morales, at Miami Beach High and they have man on Miami Beach was the importance of now been married for 23 years. They have public service. Jimmy served as the District 7 two children: Nora and Peter. In 2004, Jimmy Commissioner on the Miami-Dade County was proud to be elected to the Miami Beach Commission from 1996 through 2004. Senior High School Hall of Fame. Miami During his tenure on the Board, Jimmy served Beach will always be an important part of his as Chairman of the Budget and Finance com- personal and professional life.
Miamii Beach h News
6769 S.W. 62 Avenue, Southwww.communitynewspapers.com Miami, FL 33143 • Phone (305) 669-7355 • Fax (305) 662-6980 PUBLISHERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . www.communitynewspapers.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Grant & Michael Miller PUBLISHER . . . . .. ... .. ... .. .. ... .. ... .. .. . .. .. ... .. ... .. .. . .. .. ... .. ... .. .. ... .. ... .. ... .. .. ... .. ... .. ... .. .. ... .. ... .. .. . .. .. ... .. ... .. .. . .. .. ... .. ... .. .. ... .. ... .. ... .. .. ... .Grant Miller ASSOCIATED PUBLISHER . . . .Amy Donner EXECUTIVE EDITOR . . . . . . . . . . . . . . . .Rodriguez-Bernfeld, . . . . . . . . .Michael WRITERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... .. .. ... .. ... .. ... .. .. ... .. ... .. .. . .. .. ... .. ... .. .. ... .. ... .. ... .. .. ... .. ... .. ... .. .. .. Linda Gary AlanMiller Ruse EDITOR Berkowitz ADVERTISING...........................................................................David ACCOUNT EXECUTIVES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Albie Barnes, Roberta Bergman, Beatriz Brandfon, Celia Canabate, WRITERS, COLUMNISTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Ron Beasley, Kenneth Bluh, Robert Hamilton, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Diane Chasin, Enrique Chau, Sharon Christian, Lori Cohen, Dianne Maddox, Denzil Miles, . ... .. .. ... .. ... .. .. ... .. .. ... .. ... .. .. ... .. .. ... .. .. ..Linda Ruse, Lee Stephens, Al Schiller, Sunshine, . . . . . . . .Rodriguez-Bernfeld, . . . . . . . . . . . . . . . . . . . . . . .Gary . . . .AnnAlan Robbins-Udel, Fara Sax, Diane Sedona GeorgiaRichard Tait, WalterYager White ADVERTISING Brandfon, PROOF DEPARTMENTACCOUNT . . . . . . . . . . . . EXECUTIVES . . . . . . . . . . . . . . . . . . .. . .. .. ... .. ... .. .. . .. .. ... .. ... .. .. ... .. ... .. ... .. .. ... .. ... .. .. . .. .. ... .. .Albie . . . . . . Barnes, . . . . . . . . . . Beatriz . . . . . . . . .Isabel Vavrek .PRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Roberta Bergman, Celia Canabate, Diane Chasin, Henry Chau, . GRAPHIC . . . . . .ARTISTS . . . . . .. ... .. ... .. ... .. .. ... .. ... .. ..Sharon Maddox, Miles, Ann . . . . . . . . . .Christian, . . . . . . . . . . . Lori . . . . . Cohen, . . . . . . . . . Diane . .Isabel Ortega, CristianDenzel Ortiz, Catalina Roca, MarieRobbins-Udel, Scheer, Isabel Vavrek . . . . . . . .EMERITUS . . . . . .. .. .. . .. .. ... .. ... .. .. . .. .. ... .. ... .. .. ... .. ... .. ... .. .. ... .. ... .. ... .. .. ... .. ... .. .. . .. .. ... .. ..Fara PUBLISHER . . . . . . Sax, . . . . . . Diane . . . . . . . .Sedona . . . . . . . . . .Schiller, . . . . . . . . . Walter . . . . . .RonWhite Miller LEGAL ADVERTISING ..................................................................Georgia Tait BOOKKEEPING .......................................................................Jesus Toledo We will not return solicited or unsolicited editorial material including stories, columns and or photographs. If you send us anything, please make sure that you have duplicate copies of the material. PROOF DEPARTMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Isabel Vavrek Every issue of the Miami Beach is fully copyrighted, and all property rights, including advertisements produced by Community Newspapers. Using artwork and/or typography furnished or arranged for/by GRAPHIC ARTIST ............................................Denise Cebrero, Isabel Ortega, Cristian Ortiz us, shall be the property of Community Newspapers. PUBLISHER EMERITUS ..................................................................Ron Miller
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CHAMPIONS, from page 1 –––––––––––––––––––––––––––––––––––––––––––––––––––––––––––– nesswoman, Brad Meltzer of Plaza Construction, and Josh Wallack of Mango’s Tropical Café. Moderated by the energetic Michelle Villalobos of Mi Vista Sales & Marketing Training, Consulting & Speaking, the afternoon’s festivities gave insight into what it takes to grow a business from a vision to success story. “There is always a lesson to be learned from mistakes- trial and error is a good thing,” panelist Josh Wallack told the audience. “Be willing to work hard for what you believe in.” Calling upon his career growth within Magic City Casino working each day alongside his family, Alex Havenick emphasized that “family is key.” He encouraged entrepreneurs to both focus on ways to help the community, and have a mentor or other close friend to talk to about business. Mirroring his fellow panelist’s emphasis upon relationships, Brad Meltzer, who currently offers a weekly bootcamp for all of his employees, encouraged the audience to “focus on your people; take care of them always.” Transitioning into business branding and specialization, Meltzer also stressed the importance of knowing and
focusing on what makes you different from everyone else in your industry. Seasoned businesswoman Lucy MorilloAgnetti’s top tips included stay true to oneself, always do something you love, be informed and constantly learn about your industry, and look the part by dressing to impress. This highly-anticipated event was made possible by the collaboration of the members of the Emerging Leadership Council, as well as additional presenting sponsors Benton Launerts of Parksman Parking and Jimmy Morales of Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. More than networking and learning a few friendly tips, the annual luncheon aims to give guests upclose-and-personal insight into the minds and business practices of industry leaders; as the ELC’s guiding principle goes, “Tomorrow’s Leaders, Leading Today.” With the Forge’s own Shareef Malnik, Misha Gomez of Misha’s Cupcakes, Barton Weiss of Barton G., and Dr. Arthur Agatson of the South Beach Diet among the event’s past panelists, “Champions of Business” shows no sign of slowing anytime soon! (See more photos inside)
SABRINA, from page 1
September 6 - 19, 2012
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“What I find most rewarding about this award is that it not only propels my foundation into a national spotlight but it also provides me with an outlet to show the world that women with disabilities can still be fashionable, fun and successful, no matter what challenges we face,” said Sabrina, 34, who was paralyzed nearly 20 years ago in an Alton Road car crash. As a “Woman Doing Good” winner, she will be honored at a celebrity dinner on Sept. 12, along with two other “hometown” winners. Actresses Jessica Alba, Kerri Washington and Jenna DewanTatum are the celebrity honorees. “I’m so grateful to be recognized amongst five other inspiring women in such high regards. Knowing that I was chosen out of thousands is mind blowing,” Cohen said. Despite being rendered a quadriplegic, Sabrina is an accomplished woman who runs her foundation from her wheelchair. A University of Miami alumni, she is cur-
rently enrolled in a master’s level program there to earn her degree as a certified life coach, while at the same time fulfilling her dream of seeing her foundation become a global force in regenerative medicine. Sabrina launched the nonprofit Sabrina Cohen Stem Cell Foundation in 2006 to help overturn the ban on stem cell funding, and has donated $75,000 so far to medical researchers working in the field of regenerative medicine. Over the nearly 20 years since the accident, she has spoken to some 20,000 children, students and adults, personally mentored hundreds of the newly disabled, and helped raise hundreds of thousands of dollars for health-related causes. She has won numerous awards for her work, including the Chamber’s Amethyst Arts & Culture Not for Profit Award” for outstanding ability to achieve success through innovation, service, growth and commitment to the Community. She’s also been nominated by the City of Miami Beach with a “Sabrina Cohen Day” three times. On a personal note, I had the pleasure of nominating Sabrina for this honor, and I’ll be traveling to New York along with her. I will write all about our adventures right here in the Chamber newspaper when we return. In the meantime, follow Sabrina at StemCellGirl#77 as we tweet all the celebrity excitement from New York City! Cohen on the cover of Self Magazine
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COMMUNITYNEWSPAPERS.COM
The $outh Florida Gaming Repor t
By the land and by the sea I spent a Saturday afternoon at the beach last month and was amazed at the volume of advertising directed at the beachgoers. During the course of the afternoon no less than 12 different aerial banners flew by a countless number of times. I saw car dealers, casinos, clubs, and concerts all advertised. Later in the afternoon a very large pontoon boat floated by displaying an advertising banner. That night when I walked over to Lincoln road I saw a mobile truck billboard advertising liquor and was handed several flyers for different clubs. The beachgoer is certainly an attractive target.
Advertisers are looking for an impulse buy of liquor, a decision to attend a club that night, or a quick trip to the casino in Miami. I am not sure about the car dealer and might question his advertising strategy. Evidently the beachgoer is a prime consumer and most tourists on vacation are spending more freely than when they are back home counting dollars. This outpouring of concentrated advertising made me better understand why the major casino companies have Miami and Miami Beach on their radar. Sun, sea and sand by day would lead to the famed “casino tan� at night. It is a pretty picture.
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Mount Sinai Aventura Diagnostic Center now offering Open MRI Mount Sinai Medical Center has added a high field, open magnetic resonance imaging (MRI) system to the list of services available at the Mount Sinai Aventura Diagnostic Center, located at 2845 Aventura Boulevard. The open MRI further expands the existing diagnostic imaging services at Mount Sinai Aventura, where breast mammography, PET scan, 64 Slice CT, ultrasound, bone density and general imaging also are available. MRI scans are used to help in the diagnosis of numerous problems, such as cancer, bleeding, injuries, blood vessel diseases or infection. They also provide supplemental information about problems revealed on an X-ray, ultrasound scan, or CT scan. An MRI scan can be done for the head, chest, abdomen, pelvis, blood vessels, joints, bones and spine. Not all open MRIs are the same. Most have a lower resolution, which affects their diagnostic capability and the clarity of the images produced. However, Mount Sinai Aventura’s Hitachi Oasis 1.2 Tesla strength unit offers the highest quality images and a 270-degree field of vision around the patient, which is more comfortable and gives staff greater access to the patient. An open MRI means patients do not go into a tunnel or tube for scanning. It offers a clear 270-degree open view,
virtually eliminating patient claustrophobia. Its design accommodates large patients, and the exam table lowers to just 18 inches from the ground, making it suitable for elderly patients and those with mobility problems. The open MRI easily scans wrists and elbows at the patient’s side, eliminating uncomfortable positioning. Quality images are even possible for those with hip replacements and other prostheses. The open architecture is also ideal for children,
since parents can remain with their child during the exam. Mount Sinai offers the only on-site board certified subspecialist team to ensure the most accurate diagnosis possible. The medical center maintains patients’ imaging history in its secure electronic patient network, and images are available immediately upon professional interpretation by our board certified radiologists. Should testing reveal conditions requiring further evaluation, patients will have immediate access to Mount Sinai’s comprehensive array of services and specialists. The Mount Sinai Comprehensive Cancer Center is also the first and only radiation oncology program in South Florida to earn accreditation from the American College of Radiology (ACR) and The American Society for Radiation Oncology (ASTRO). The ACR-ASTRO seal of accreditation represents the highest level of quality and patient safety. Mount Sinai’s Radiation Oncology programs on both the Mount Sinai Miami Beach and Aventura campuses successfully completed a rigorous application and evaluation process for this accreditation. Mount Sinai offers extended hours and convenient scheduling to fit into patients’ busy lifestyles. To schedule an open MRI at Mount Sinai Aventura, please call 305-674-3905. For more information on Mount Sinai Medical Center, visit www.msmc.com.
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Pillar reception at The Setai
Bryan Sigler, Betty Roffwarg, Stephanie Heller Norman and Michael Goldberg
Lisa Hollister, Danny Bravo, Jeff Turgeau and Debi Quade
Julio Fabre, Flavie Le Comte and friend
Michael Mowatt and friends
Justin Levy, Seth Gadinsky and Justin Schultz
All smiles with Chamber President Jerry Libbin
Jennifer Ingham and Robert Shelley
Manny Gonzalez, Judy Holm, David Sacks and Peggy Benua
Archie Quintana and Mary Ann McIlraith
Brian Martino, Michael Goldberg, and Phil Goodman
Luke Roberts and Reed Nicol Terri Echarte, Kelly Charles, and Nathalia Avelar
Aaron Perry, Beth Sobol, and Chamber President Jerry Libbin
See more photos next page
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Pillar reception at The Setai The crowd mingles outside at the beautiful Setai
Pillar Board Chairman David Sacks, Eric Johnson and Chamber President Jerry Libbin Chamber President Jerry Libbin asks the crowd to vote for the Miami Beach Education Foundation to win the 2012 AETNA Voices of Health Award!
Valerie Rasken, Todd Roy, Kelly Gazo and Geoff Kraft
Chairman Jason Loeb and incoming Chairman Alan Lips
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Champions of Business Luncheon at The Forge
Brad Meltzer offers some personal business tips
ELC Chair Brenda Vargas, Presenting Sponsor Benton Launerts, incoming ELC Chair Sabrina Badeaux and Chamber COO Ceci Velasco
Panelist Lucy Morillo-Agnetti with title sponsor National Planning Corporation’s Robert and Jeffrey Newman
Josh Wallack addresses the audience alongside his fellow panelists
Maria Johnston, Aaron Perry, Stephanie Ruiz, Michael Goldberg and Benton Launerts
Guests awaiting their delicious food at The Forge; photo courtesy of Angelica Galan
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Studies Don’t Lie:
Patients Benefit from a Strong PCP Relationship
A
senior from Broward County is rushed to the emergency room because she mixed medications that are contra-indicated. Another bounced around from specialist to specialist, undergoing duplicate tests and procedures. All of this could be avoided. More than 100 studies document the critical role primary care physicians (PCPs) play in patient care. PCPs can be many things for a patient — their cheerleader, advocate and even their medical interpreter — but most importantly, the studies prove that having a strong relationship with a PCP leads to better quality of life, more productive longevity, and lower costs as a result of reduced hospitalization, improved prevention and better coordination of chronic disease care. AvMed Health Plans, one of the oldest Medicare providers in South Florida, has embraced a more PCPcoordinated approach to healthcare. The company recently introduced CenteredCare®, which puts the PCP at the center of every member’s care. According to Dr. Edwin Rodriguez, Medical Director at AvMed, this coordinated approach will lead to better health outcomes for patients. “Some 15-20% of Medicare hospital admissions are due to medication complications,” said Rodriguez. “By
by Christine Bucan
developing a strong relationship with your PCP, you can avoid this.” Louise Schendel, a senior from Margate who visits her PCP every three months, admits she would be lost without the lasting relationship she has built with her PCP over the years. “When I have a problem, I call him and he tells me exactly where to go and what to do. I feel like I have someone out there rooting for me,” said Schendel, an AvMed Medicare Advantage plan member for two years. “Without my PCP I wouldn’t have the confidence on where to go and what specialists to visit.” William Pena, M.D., a primary care physician who practices in Hollywood, often acts as an interpreter for patients who don’t always understand what a specialist recommends: "They want us to explain procedures. The best way to get better results is when a patient clearly understands what they have and how to interpret tests. They need to understand their options for treatment and they rely on their PCP to help." To learn more about the importance of building a strong relationship with your PCP, visit AvMedMedicare.org.
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Tax change winds are blowing! Are you ready? MALLAH FURMAN
Certified Public Accountants Regardless of the outcome of the elections, there are profound tax law changes coming which are already built in to the “system” and that will become effective on January 1. While it is possible that Congress could modify or repeal some of these changes, it seems very unlikely that all of these changes will be undone given the current fiscal state of the country. Therefore, advance planning with your accountant or tax advisor is more essential now than at any other time in recent memory because these extensive changes will greatly affect virtually every taxpayer and in differently. Income taxes for individuals will, of course, see very significant increases. Prior trade-offs that were used to sponsor various tax incentives (or loopholes, depending on one’s perspective) that were added in recent years will expire at the end of this year. Most often discussed are the changes in the effective income tax brackets where virtually every tax bracket will see an increase in rates. In addition, wage earners will see an increase in their social security taxes go back up from the current 4.2% to 6.2%, and “rich” people ($200,000 single and $250,000 married taxpayers) will see their medicare tax rate go from 1.45% to 2.35% on all wages over these amounts. Deductions will also be restricted. Standard deductions for married taxpayers will be decreased, while itemized deductions and personal exemptions will see the old phase-out rules come roaring back. Sales tax will no longer be deductible in lieu of state and local income taxes and the floor for medical expenses will increase from 7.5% to 10% for those under age 65.
Employer paid tuition will no longer be excludable from income, teachers will lose deductions and the deduction for student loan interest will be gone. Education credits, dependent care credits, child tax credits, energy credits, earned income credits and a whole host of other miscellaneous credits will either be reduced, modified or eliminated entirely. Investment income will be hit particularly hard. The tax rate on an individual’s dividend income will increase from the present rate of 15% and will now be taxed as ordinary income up to the new maximum individual tax rate of 39.6%. Worse yet, the law imposes a brand new sleeper provision that calls for a 3.8% Medicare tax on investment income. Combined, this will bring the effective tax rate to as much as 43.4%, representing an increase of more than 189%. Investment income, you might note, will include not only dividends and interest, but also income derived from a passive activity and gains from the sale of property not used in a business. This new tax can even apply to the sale of one’s principal residence if the gain happens to be more than the exclusion that is allowed. Individuals need to consider whether to sell investment property before December 31 in order to avoid the 3.8% tax. They might put off selling loss securities in order to shelter investment gains next year or they might harvest losses this year in order to offset current year gains. Tax-exempt municipal bond interest will not be subject to this new tax, so changes in your investment strategy and asset mix may be warranted. The Medicare tax will also be imposed on a trust’s undistributed net investment income in excess of certain amounts, so additional planning might be necessary. Estate, Gift and Generation Skipping
Advance planning with your accountant or tax advisor is more essential now than at any other time in recent memory because these extensive changes will greatly affect virtually every taxpayer. taxes will increase substantially and have been the subject of a great deal of discussion. The two changes that have the biggest impact involve the increase in the tax rate and the decrease in the lifetime exemption. The tax rate is now capped at 35%, but will go to 55% together with a reinstatement of the 5% surcharge for estate and gifts in excess of $10 million. Also, the lifetime exemption that is presently $5.12 million will go back down to the former $1 million. Less exposure has been given to other very meaningful changes, however. These include the elimination of the “portability” rules that presently allows a surviving spouse to use a decedent’s unused lifetime exemption. In addition, state death taxes will no longer be deductible and instead, the old state death tax credit is reinstated. Complex rules have also been added that deal with the generation skipping exemp-
tion allocation. The ability to pay estate taxes in installments has been restricted. Numerous other changes will also be made, but which are too technical to detail here. Given the likely expiration of the many favorable benefits that presently exist, a great deal of effort is even now being given by better informed taxpayers to take full advantage of these benefits before they go away. There are a large number of different long sanctioned tools and approaches that can be selected and implemented now that are carefully and purposefully designed to try and “have your cake and eat it too”, depending on your own unique situation. Exploration of the many differing benefits and detriments of these various alternative approaches takes both time and careful thought, so if you haven’t yet begun to develop a good strategy, now is the time to begin. You would be well advised to proactively seek the counsel of a good high quality tax advisor who can work with you and your situation to project the impact of these many changes and who can offer sound advice as to negotiating your path through this new minefield. How can you best achieve your financial and family planning objectives by adjusting your circumstances to maximize your wealth on an after-tax basis? Should you alter your investment mix or perhaps pay off your mortgage early? Should you be setting up trusts for the benefit of your family members that transfer wealth yet don’t damage their incentive to go out and conquer life? Should you be creating family limited partnerships that can transfer wealth while keeping all of the strings to the accession to that wealth? The knowledgeable and wise counsel of a good advisor is now more important than ever!
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The Ritz-Carlton, South Beach ‘Jumps through Hoops’ to honor The Miami HEAT’s 2012 NBA Championship title A limited-edition, ‘You Can’t Beat the HEAT’ specially-made dessert benefits the Mourning Family Foundation! With the Miami HEAT’s recent NBA championship win making summer in Miami hotter than ever, The Ritz-Carlton, South Beach is offering a way to cool down and enjoy a taste of their hometown team’s sweet victory with a limited-edition, ‘You Can’t Beat the HEAT’ dessert to benefit the Mourning Family Foundation. The gourmet-style treat is offered as a spe-
cial menu addition exclusively at the oceanfront hotel’s two restaurants, DiLido Beach Club and Bistro One LR, through December 31, 2012. The Ritz-Carlton, South Beach Executive Pastry Chef Jason Morale carefully designed the decadent creation to best represent the HEAT’s star status and the residual excitement that continues to emanate throughout the city following their triumph. Presented in two pieces, the dessert duo features an orange-colored, mango flavored basketball on top of a thick layer of fudge cake surrounded by gold dusted mint chocolate crunchy, bite-sized pieces with a hint of mint. Accompanying the basketball is a martini glass filled with a flaming
coconut crème brûlée, inspired by the HEAT’s team mascot Burnie, an anthropomorphic fireball. The Mourning Family Foundation was established in 1997 by former HEAT basketball player and Olympic gold medalist turned philanthropist Alonzo Mourning, to aid in the development of children and families living in at-risk situations and provide support and services that enhance the lives of youth of promise. The cost of each ‘You Can’t Beat the HEAT’ dessert is $12 and all of the proceeds raised will go towards two of the foundation’s special children’s programs. They will benefit the Overtown Youth Center, designed to inspire, empower, and enrich the lives of underprivileged children while teaching
them to become positive contributing citizens; and Honey Shine, a mentoring program founded by Tracy Wilson Mourning, to encourage the balance of mind, body and soul in girls and women by providing nurturing experiences that enlighten their paths and empower their future.
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September 6 - 19, 2012
Miami Beach, Miami-Dade County continue to see very active real estate market BY ALEKSANDRA MARZEC
As we head into the traditionally slower “dog days” of summer, it appears no one told the local real estate market. Sales are setting record numbers, and the available inventory of existing properties for sale is experiencing a sharp decline. Several area indicators all point to significant growth patterns as sales and average sales prices are climbing steadily. In May, for the first time in four years, Miami-Dade tax roll property values had shown an increase. Bal Harbour saw a leap of $172,000,000, due to the re-evaluation of some of the condominiums there, plus the addition of the new St. Regis project. I’m Aleksandra Marzec, a BrokerAssociate at the Miami Beach Office of Coldwell Banker Residential Real Estate, and I see the upsurge in activity across the board. Many high-end properties – both homes and condos – are being purchased in all-cash transactions. From the Beach to Brickell, brokers are seeing a huge increase in traffic and contracts. INTERNATIONAL INVESTMENT A HUGE PIECE OF THE PUZZLE Last week, the Florida Association of REALTORS® reported in their Profile of International Home Buyers in Florida 2012 that almost 1 out of 5 sales transactions in Florida involved a buyer from outside the United States. The study covered the 12month period ending in June 2012. Research also indicated that of those transactions, nearly 82% were cash deals, and that the median price paid for a Florida property by an international buyer was $194,700, compared to the overall Florida median price of $125,100. Condominiums accounted for
45% of residential purchases by foreign buyers, 36% single-family homes 10% were townhomes. Canadians continue to be the most active in the Florida market, with Brazil and Venezuela showing a marked increase. 49% of all buyers from Brazil selected Miami-Dade County properties. Another recent study conducted by Focus Real Estate Advisors and Goodkin Consulting, showed a 24% sales increase for the first half of 2012 in downtown Miami condominium residences, and a 9.1% increase in the average sales price. Their research, conducted for the Miami Downtown Development Authority, reports that sales data “reflects a strong demand for the limited remaining inventory of new units in major buildings”. The number of available condo units downtown declined more than 30% from the same period a year ago.
PLANNED NEW PROJECTS SHOWS HUGE GAIN Additionally, developers and builders are deciding that now is the time to take action. Contracts for planned future construction rose a dramatic 46% year-to-date over the same period of 2011, according to a study by McGraw-Hill Construction. These are measurable indicators that the bottom has indeed come and gone, and people are becoming much more serious about getting into the South Florida real estate market. I have a steady stream of interested buyers calling me, ready to act. I have had listings that sold within 60 days, and many REALTORS® are receiving multiple offers on a property, oftentimes exceeding the asking price. If you have been contemplating a move anywhere in the Miami Beach area, now could be an excellent time. Through the right research and up-to-date market trend statistics, you can discover the ideal residential opportunity, and make an informed decision.
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BY WILLIAM D. TALBERT III, CDME
HOW’S BUSINESS Demand for Travel to Greater Miami & The Beaches Remains Strong – Greater Greater Miami & The Beaches Ranks #3 in Revenue Per Available Room (Rev Par), #3 in Average Daily Room rate (ADR) and #4 in Hotel Room Occupancy for January-July 2012 Among the Top 25 U.S. Markets For January - July 2012, Greater MIAMI and the Beaches showed increases vs. 2011, ranking #3 in Revenue Per Available Room (RevPar) at $135.28, #3 in Average Daily Room rate (ADR) at $172.39 and #4 in Hotel Room Occupancy at 78.5% among the Top 25 Markets in the U.S. Smith Travel Research compares the top markets in the United States based on Occupancy, Average Daily Room Rate (ADR) and Revenue Per Available Room (RevPar).
Top 25 Hotel Markets Revenue Per Available Hotel Room [Rev Par] $ #1. New York $186.25 #2.. Oahu Island $152.80 #3. MIAMI $135.28 #4. San Francisco $131.17 #5. Boston $111.43
Top 25 Hotel Markets Average Daily Room Rate #1. New York #2. Oahu Island #3. MIAMI #4. San Francisco #5. Boston
$ $229.95 $179.51 $172.39 $165.50 $156.13
January - July 2012 % Change vs. 2011 +3.2% +11.1 % +7.4% +11.8% +9.0%
% 85.1% 81.0% 79.3% 78.5% 76.1%
January - July 2012 % Change vs. 2011 +6.9% +3.3% +2.3% +1.4% +4.5%
Top 25 Hotel Markets Average Occupancy #1. Oahu Island #2. New York #3. San Francisco #4. MIAMI #5. Los Angeles
January - July 2012 % Change vs. 2011 +6.6% +18.7% +8.9% +14.3% +11.8%
MIAMI INTERNATIONAL WINE FAIR RETURNS TO MIAMI BEACH CONVENTION CENTER SEPTEMBER 14-16, 2012 The 11th annual MIAMI International Wine Fair opens the Grand Tasting to the public for ONE DAY ONLY — Saturday’s Grand Tasting on September 15th from 5 p.m. to 8 p.m. Trade professionals and enthusiasts alike can choose from more than 300 wineries representing 16 countries, including Argentina, Brazil, France, Italy and Spain. General admission includes an unlimited sampling of unique wines not yet available in the United States, complemented by foods from South Florida’s favorite eateries. A compelling program of seminars will guide your tasting experience. Use code GMCVB for $25 OFF consumer tickets, available at www.MIAMIWineFair.com. For more information, call 866.887.WINE.
MIAMI SPICE IS IN FULL SWING! The GMCVB’s highly anticipated MIAMI Spice Restaurant program runs through September 30, 2012 with a record-breaking 179 participating restaurants. During this one-of-a-kind culinary event, restaurants offer discounted, three-course, prix-fixe lunch and dinner menus created by worldrenowned chefs featuring a choice of an appetizer, entrée and dessert. New this year, MIAMI Spice consists of two restaurant groups: Luxury Dining and Fine Dining. Luxury dining restaurants will offer three course prix-fixe lunches at $23 per person, dinners at $39. Fine dining restaurants will feature menus at $19 for lunch, $33 for dinner. (All menus exclude tax and gratuities) For a list of participating restaurants, menus and more details, visit www.iLoveMIAMISpice.com.
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Marilyn Monroe 50th Anniversary Exhibition arrives from Rome BY TASHA GIUDA
What do classic 1950s film Gentlemen Prefer Blondes, Eduadorian-born artist Leonardo Hidalgo and scores of pop culture aficionados worldwide have in common? An insatiable love affair with L.A. bornand-bred Norma Jean Baker, better known as the iconic Marilyn Monroe. While the 50th anniversary of this timeless star’s death on August 5th spurred countless preparations to pay homage, one art gallery chose instead to celebrate her life in style. Galleria Ca’d’oro, one of Italy’s leading contemporary art galleries with its U.S. counterpart located in Coral Gables, launched a group exhibition of 21 artists titled “Marilyn Monroe: Tribute to a Female Icon.” This unique showcase debuted on June 8th at the famous Roman palace Palazzo Wedekind one week after the late star’s 86th birthday and arrived in Miami for its U.S. opening reception on Wednesday, August 22nd. Tribute is an understatement: picture a life-sized sculpture of Marilyn donning her signature white dress in the infamous ohmy-this-wind-is-unruly pose unabashedly greeting guests at the gallery’s entrance. Enter the intimate main room to find Marilyn resurrected in every size, color and medium imaginable. She is naked in Pablo Echaurren’s piece; vibrant and multiplied in Andy Warhol’s series; ethereal with an actual black diamond in place of her infamous beauty mark in Enrico di Nicolantonio’s painting; tiny and recyclable on Pepsi Italy’s commemorative limited edition cans; and in the flesh with Erika Calesini’s quirky live performance. Paintings, photographs, videos, installations and sculptures comprise the lively 28-work exhibition. “My goal is to bring artists that have a different background and mix them into
65th event in tribute of her death, as well as Ferragamo’s Florence exhibition exclusively for the star, Porcella explained the significant appreciation shown for the real woman behind the Hollywood icon and quintessential sex symbol. Feminism, sexuality, vulnerability, imperfection, unpredictability and empowerment: Marilyn represents the anomaly of women. Marilyn’s multifaceted yet classic persona is perhaps best embodied in Leonardo Hidalgo’s “Golden Marilyn,” a dazzling portrayal of black and gold. “I did this piece because we’re celebrating her Golden Age,” said the Ecuadorian-born Hidalgo, who was named official artist of the City of Miami’s 116th birthday this past summer. “This exhibition is important because it happens
Marilyn Monroe - Bronze Sculpture by Seward Johnson ––––––––––––––––––––––––––––––––––
the city of Miami- with the United States, with the South American life and also with the Miami Art Basel,” said curator Gloria Porcella. The daughter of Galleria Ca’d’oro’s founder Antonio Porcella, she and co-curator Lamberto Petrecca dreamt up this highly-acclaimed collective exhibition and brought it from the steps of Romequite literally, as the gallery’s flagship is in Piazza di Spagna seconds from the Spanish Steps- to the younger storefronts of Miami. Why the fuss? “I think Europe really celebrated Marilyn as she deserved,” Porcella said. Citing this year’s Cannes Film Festival which named Marilyn as the face of its
only every 50 years; for Coral Gables to have this show is very wonderful and rare.” The exhibition’s calculated move from Rome to Miami aims to not only immortalize a late legend, but also to provide more exposure for the up-and-coming Italian contemporary art scene. “Italy is known for the past, for the ancient art, for design, for fashion, but not so much for contemporary art,” said Porcella. Noting Galleria Ca’d’oro’s famous pink snails that invaded Miami during 2010’s Art Week and Art Basel, “we like to let people know that Italy is not only about art from the past- it’s much more. We have so many good contemporary artists that the world doesn’t know because they don’t have the opportunity to visit another country.” Thus her desire to make their presence known fuels her disarming fire, exporting both art and opportunity straight from Italy. Coincidentally, 2013 is the year of the Italian culture in the United States, spurring exciting projects in preparation of this momentous occasion by Porcella and her amici in conjunction with the Italian Consulate and Italian Chamber of Commerce here in Miami. To simultaneously get a taste of what is to come in 2013 and experience firsthand a truly eclectic art collection dedicated exclusively to one of the world’s most notorious icons, visit Galleria Ca’d’oro until October 10th. From Marilyn’s glitz and glamour to her vulnerability and spontaneous nature, it’s clear that some legends never die. ––––––––––––––––––––– Screenprint by Sunday Morning- Andy Warhol
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Cindy Brown named new executive director of the Miami Beach Botanical Garden Cindy Brown was named the new Executive Director of the Miami Beach Botanical Garden on September 3rd at the attraction’s Open House.
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‘Aventura Fall Lineup’
Bari Auerbach LIFE IN THE CITY TV networks are launching their new fall programs, but right here in Aventura, we’re creating some great reality shows like these: Revenge: This addictive hit drama is all about how the age defying motto “looking good is the best revenge” is really being brought to life by Aventura area cosmetic surgeons and Med Spas (with absolutely no downtime!) Two and a Half Men: This show may be at risk for cancellation due to Aventura’s proliferation of gyms and weight loss centers dedicated to helping men and women lose so much weight – they’re now at least two and a half times less their original size! American Idol: The Aventura version will feature judges who idolize residents with enviable talents like knowing how to bypass traffic on Biscayne by using all the side streets; expertly swerving out of the way to avoid accidents in crowded parking lots; and perfectly implementing drive
time strategies to get through school zones - seconds before the yellow lights start flashing. The Voice: Set amidst Aventura condo association meetings, this show will feature people voicing their opinions about crucial issues including why no one should ever be allowed to wear pajamas in the lobby; and why there should be an assessment for balcony restorations - including private swimming pools for everyone! Real Housewives: This reality show would prove Aventura wives rarely lose their cool - unless there’s a designer shoe sale going on and they’re all eager to get a bargain - along with the shoe box for their kid’s school project due in the morning. The View: Barbara Walters is thinking about hosting this program showcasing spectacular views from Aventura homes, where savvy shoppers can use telescopes to view when people pull out of the best Aventura Mall parking spots! Extreme Home Makeover: Inspired by landscapers who helped ensure Aventura was “clean and pristine” virtually seconds after a recent tropical storm, this will be the first makeover show with no “before and afters” required since Aventura always gets the highest ratings for being the “City of Excellence.”
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