Daily Record Financial News &
Monday, April 13, 2015
Vol. 102, No. 106 • Two Sections
Photo by David Chapman
Cavendish volunteers as arts category juror By David Chapman Staff Writer Before Michael Cavendish could take too many strides, something caught his eye. “Wait, this looks like something,” he said. A bike spray-painted green, adorned with fake flowers. It was intriguing enough to cause the One Spark juror to head toward the booth. A quick greeting later, he was kneeling next to Nicole Holderbaum, introducing himself and finding out what she was painting on the large white mural propped up in the middle of Monroe Street.
It was “Art for Jacksonville’s Youth and Beyond,” which involves painting art in as many schools as possible. “It’s a great project,” he said as he walked away. A couple of days later, his input as a One Spark juror would help Holderbaum become one of the finalists in the art category for this year’s crowdfunding extravaganza. On this hot Thursday afternoon, Cavendish was off to see more art exhibits. His first stop was Sweet Pete’s. Cavendish is a Gunster shareholder who specializes in complex commercial litigation and arbitration cases. But outside the courtroom, he’s also an art aficionado, a collector who sits on the
320,500
ATTENDANCE
Museum of Contemporary Art Jacksonville board. He was asked to be one of the festival’s art jurors more than a month ago. “I suspect that I’m a substitute for someone who was more qualified,” he said in a self-deprecating manner. “I wasn’t dumb enough to turn them down.” Before too long, he’s on the second floor of Downtown’s newest attraction. Past the ice cream, cupcakes and other confections, is his second stop of the day. A deck of cards is on the table, a magician to its side. “What’s going on here?” he asks. Michael Chrosniak was trying to Attorney... Continued Page A-7
$93,324.45 CROWDFUNDING
One Spark 2015 will go into the record books as the year more people than ever in the three-year history of the event came Downtown and the year that an exhibitor set a record for prize awards. Organizers estimated 320,500 people attended the Tuesday-Sunday event in Downtown. That’s a 22 percent increase over the record
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estimated crowd in 2014. With a new prize structure, Yoga 4 Change, the winner of both the $15,000 Juried Award and the TopVoted Award in the Social Good Category, accepted two checks for a total of $32,001.11. It was the largest amount a project at One Spark has received. The group’s mission is to bring people together through yoga for personal development and healing.
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Yoga 4 Change sends instructors to educate at-risk public school students, jail and prison inmates, and veterans groups. Project Stuffee received the most individual contributions from attendees of the festival. In addition to the $15,000 bonus for the No. 1 spot, the group that promotes children’s fitness received a total of $22,500. Future Music Makers
Last year turned out to be very profitable for Jacksonville-based public companies. As most public companies filed their annual reports by the March 31 deadline, a look at local companies show only two recorded a net loss in fiscal 2014. One was ParkerVision Inc., which hasn’t produced any revenue in years. ParkerVision’s situation has been well documented, as the company is developing technology it says greatly improves the performance of wireless devices, but it hasn’t found a manufacturer that wants to use it. ParkerVision also is seeking money from patent infringement lawsuits. The other company to lose money was a relatively new firm, Drone Aviation Holding Corp. Drone Aviation, which produces specialized lighter-than-air aerostats and tethered drones, became public last year by merging with an existing public company. It recorded less than $1 million in revenue in 2014. Of course, one other local company also lost money last year, Body Central Corp. The fashion retailer was forced by its creditors to shut down in January, so it never filed its year-end financial report. Body Central reported a net loss of $28.70 a share for the first nine months of 2014. For the other Jacksonville-based companies, the earnings chart shows their adjusted earnings per share for fiscal 2014 and the growth in those earnings over 2013. The adjusted earnings per share reflect earnings excluding one-time gains or losses, which is the metric financial analysts use to evaluate companies. For Jacksonville-based companies covered by Wall Street analysts, the adjusted earnings in the chart are the figures reported by Thomson Financial, which tracks data from analyst reports. For companies not covered by analysts, the earnings data comes from their annual reports. Landstar System Inc. topped the chart with 27 percent adjusted earnings growth in 2014. The trucking company grew its Basch... Continued Page A-10
Another record-setting year for One Spark By Max Marbut Staff Writer
www.jaxdailyrecord.com
2014 was profitable for local companies
Attorney turns judge
Gunster attorney Michael Cavendish asks artist Nicole Holderbaum a few questions about her project, “Art for Jacksonville’s Youth and Beyond.” Cavendish was a juror for the art category and spent many hours during One Spark learning about creators and their projects.
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Youth Enrichment Program earned the $15,000 Juried Award in the Music Category. Group member Fae Negeon de Lestang said the award will allow even more children to learn about music in the after-school program the group conducts, “We’ll use the money to buy equipment to teach kids how to make their own music,” she said. One Spark... Continued Page A-11
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How they fared Adjusted earnings per share growth Landstar System 27% Regency Centers 14% Web.com Group 13% Total revenue (in millions) CSX $12,669 Fidelity National Financial $8,024 Fidelity National Information $6,414 (See full listings on Page A-10)
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