AD DAVID BECKHAM Can he bend it in Miami?
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may 2014 • www.sfbwmag.com
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TABLE OF CONTENTS
38
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SPACES
COVER STORY
Metrorail station at Miami International combines artistic sense with functionality
Why soccer superstar David Beckham faces a long shot getting a stadium at PortMiami
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NEW SOUTH FLORIDA
Nautical tour provides insights on region’s condo boom
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MADE IN SOUTH FLORIDA
ACR Electronics’ rescue beacons save thousands of lives
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BUSINESS SCENE
“Love of Cities” author tells how anyone can make a difference
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ECONOMIC DEVELOPMENT
$375 million waterfront redevelopment plans move forward
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PROFILES
Fred Meltzer and Sandra Hoffman are the Willy Wonkas of South Florida Maria Merce Martin creates a high-tech marketing company in Weston
34 TECHNOLOGY HUB
56 WHERE I LIVE AND WHY
44 INTERNATIONAL BUSINESS
58 EXECUTIVE FASHION
46 AWARDS
60 MEET MY RIDE
50 PRIVATE EQUITY
62 SPENDING IT
52 VENTURE VIEWPOINT
64 CHARITY SPOTLIGHT
54 STARTUPS
66 ADVICE
How Alexander Gomez went from a surgical technician to the $100 million man
Falling gold prices hit the region’s latest trade figures
SFBW to feature second edition of Leaders in Law and Up & Comers
E-commerce company PrestaShop raises $9.3 million
An interview with Michael Falk of Comvest Partners, which manages $1.3 billion
Legislation would help promote crowdfunding efforts in Florida
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may 2014 • www.sfbwmag.com
Jeremy and Courtney Larkin make over a home in Palmetto Bay
SunTrust Senior VP Kim Cagiano embraces feminine chic
Octagon Professional Recruiting’s Mitch Kramer cruises in a Tesla Roadster
Escape the huddled cruising masses on the Azamara Quest
Food for the Poor is South Florida’s megacharity
Criminal lawyer Robert Amsel tells what to do if the FBI comes knocking
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Aventura • Boca Raton • Fort Lauderdale • Miami • Naples • Orlando • Port St. Lucie • Tampa • West Palm Beach www.sfbwmag.com • may 2014
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LETTER FROM THE PUBLISHER
Meet SFBW
Publisher, Kevin Gale
Welcome to the premiere issue of South Florida Business & Wealth. This issue is a sneak peek at a new monthly publication that will be launched in September by Lifestyle Media Group, which already publishes 10 titles under the Life and Lifestyle names in southern Florida. Why this magazine and why now? SFBW is the culmination of a vision developed by LMG Chairman, Gary Press, and myself to help propel the South Florida economy, provide insight and recognize the achievers who are driving our region’s success. Gary and I have known each other for 16 years. I first met him in 1998, when he was publisher of the South Florida Business Journal and I was business editor at the Sun Sentinel. He recruited me as editor of the Business Journal and we had a great 10year run together. Last year, we talked about how it was unusual that South Florida, the nation’s eighth-largest urban area, lacked a glossy business magazine. We have strived to develop a thoughtful magazine that readers can relax and enjoy. We want
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to be not only informative and insightful, but entertaining. There’s a lot of news breaking each day in South Florida, but we think many stories are still uncovered or lack perspective. Our magazine will chronicle not only the traditional economic mainstays of our region, such as real estate and tourism, but surging sectors, including technology, design, startups, venture capital and private equity. We also have off hours features, including Executive Style, Spending It and Where I Live and Why. SFBW will be actively engaged in the business community by attending key business events and having its own award programs, networking events, industry panels and advisory boards. We will meet advertisers’ needs with customized solutions. We provide value by sending the magazine to 30,000 high-level business readers each month and offering very competitive advertising rates. In addition to thanking Gary, I want to give a big shout out to two staffers. Melanie Geronemus Smit, the creative director for Lifestyle Media Group, who conceptualized the appearance of the magazine right down to the typefaces she found; and Associate Publisher Sally Nicholas, who has been invaluable in meeting with members of the business community and coming up with content ideas. I welcome your feedback. Please email me at kgale@ sfbwmag.com or call me at 954.377.9566.¿
Kevin Gale
Kevin Gale kgale@sfbwmag.com ASSOCIATE PUBLISHER Sally Nicholas snicholas@sfbwmag.com ASSOCIATE EDITOR Ivette Figueroa ifigueroa@sfbwmag.com ASSOCIATE EDITOR Richard Shellene rshellene@sfbwmag.com VICE PRESIDENT Jill Horrowitz jhorowitz@sfbwmag.com
PUBLISHER AND EDITOR-IN-CHIEF
Creative CREATIVE DIRECTOR ART DIRECTOR
Alexander Hernandez ART DIRECTOR
Melanie Smit
ART DIRECTOR
Frank Papandrea
Alisha Riddle
Marketing Suzanne Holtermann sholtermann@sfbwmag.com
MARKETING DIRECTOR
Writers CONTRIBUTING WRITERS
Robert Amsel, Ryan Cortes, Julie Kay, Leslie Kraft Burke, Denise Stirk
Photographers Downtown Photo/Fort Lauderdale, Dreamfocus Photography, Andrew Urban
Market Directors LIZ KRONE GAIL SCOTT
lkrone@sfbwmag.com gscott@sfbwmag.com
Gary Press gpress@sfbwmag.com PRESIDENT Jim Norton jnorton@sfbwmag.com GENERAL MANAGER Danielle Tarrant dtarrant@sfbwmag.com CHAIRMAN
SFBW Magazine 3511 W. COMMERCIAL BLVD., SUITE 200 FORT LAUDERDALE, FLORIDA 33309 954.377.9470 | FAX 954.617.9418 WWW.SFBWMAG.COM
©2014 SFBW magazine is published by Lifestyle Media Group, all rights reserved. SFBW is a monthly advertising magazine. All contents are protected by copyright and may not be reproduced without written consent from the publisher. The advertiser is solely responsible for ad content and holds publisher harmless from any error.
may 2014 • www.sfbwmag.com
Lif
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1/14/2014 8:46:03 AM
SPACES: Miami Intermodal Center at Miami International Airport
ARCHITECT Perez & Perez Architects and Planners
ADDRESS 2121 Douglas Rd., Miami, FL 33145
WEBSITE www.perezperez.com
PRINCIPAL, INTERIOR DESIGNER Daniel Perez�Zarraga, AIA
BY LESLIE KRAFT BURKE
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www.sfbwmag.com • may 2014
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SPACES
Portal To The Future Miami has joined the major league of cities with rail mass transit connections to their airports with the opening of the Metrorail station at MIA. Like the grand rail terminals of the past, this station has striking architectural elements – notably a stainless-steel clad canopy that rotates and tapers. The American Institute of Architects Florida/ Caribbean Chapter gave the station a merit award of excellence. The station is part of the Miami Intermodal Center, which was designed as a hub for buses, Tri-Rail and even
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ECONOMIC DEVELOPMENT
A stainless steel canopy defines the station and gives a sense of movement to the station future high-speed rail service. The canopy dynamically hovers above to define the platform space. The connector level vestibule, defined by an “art in public places” glass enclosure intervention, leads patrons to the airport. Here are more insights from Perez & Perez Associates about the project: • Using a continuous rhythm of structural columns throughout the 1,000-foot long site to organize and integrate the
bus and rail facilities. • Providing elements common to other Metrorail stations, but making this one a stand out as a landmark. • Designing the stainless steel clad canopy to be the signature structure expressing the concept of movement: and contrasting with existing nondescript stations. • Strategically placing linear openings in the canopy to provide natural light and a visual frame to follow the rotation of the canopy. • Utilizing the linear patterns of the openings in other parts of the station, such as the bus canopies in the lower level, the south entrance canopy and the floor pattern. ¿
The station’s flair makes it a South Florida landmark.
Structural members provide a rhythm to the station.
An art in public places work by Michele Oka Doner.
Natural light can stream in over a vestibule.
www.sfbwmag.com • may 2014
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NEW SOUTH FLORIDA:
Rebirth and transformation in our neighborhoods Miami Beach’s lofty condo prices help other parts of the region BY KEVIN GALE
Faena House sets a new price level on Miami Beach
www.sfbwmag.com • may 2014
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NEW SOUTH FLORIDA
Edgewater, north of downtown Miami, is a hot neighborhood
Cranespotters.com founder Peter Zalewski is in the middle of a boat tour of the condo scene in the Miami area when he points to a couple of cranes and starts to quiz brokers about the per square foot price. “Faena House is interesting because it has the highest preconstruction price on the market, anybody wants to take a guess what it is? $1,700? $3,500? Higher, higher. $6,430 per square foot.” The chairman of Goldman Sachs is reportedly buying a unit, Zalewski says, but the generally high prices on Miami Beach are pushing some buyers to look elsewhere. One area of interest was Sunny Isles, where developers were still trying to punch through the $1,000 per square foot level. Many investor buyers were crossing the causeway to downtown Miami where Zalewski says they could find deals for $486 a square foot and rent the units out. But prices are expected to rise there, too. Hong Kong’s Swire paid $950 a square foot for the last dirt piece it bought in the Brickell area compared with $50 a few years earlier. By contrast, developer Jean Francois Roy of Ocean Land Investments says his costs for land and construction for eight projects in Fort Lauderdale were roughly $400 per square foot. He previously developed oceanfront projects, but likes the rapid time to completion on his boutique projects in the Las Olas Isles. His low-rise AquaVita project was recently near sellout at $525 a square foot – $1.22 million for 2,321 square feet. It may not be a high-rise, but you still get water views and can tie up a yacht outside your unit. While the Miami area has a spurt of oceanfront, high-rise
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may 2014 • www.sfbwmag.com
condo projects, the story is different further north where the influx of foreign buyers is less of a factor. Fort Lauderdale has only one pre-construction oceanfront pre-sale project, Paramount Residences, according to its MLS listing. Paramount was asking $631 a square foot for a 2,626-squarefoot unit – about at tenth of the price for Faena. The unit was listed at $1.6 million. Peggy Fucci, whose OneWorld Properties has a lot of experience in South Beach, is marketing the project, and says, “We will be attracting a lot of foreign buyers. The access and flights coming in from South America to Fort Lauderdale help. It’s less crowded up here for some families. There are a lot of families that can’t buy in South Beach because they don’t have a park where they can walk with the kids.” In Boca Raton, there wasn’t any evidence of an oceanfront pre-sale on MLS, but the recently built penthouse at 1000 S. Ocean was listed at $2,019 a square foot – $13.95 million for 6,909 square feet. The listing called it “the finest residence ever publicly offered in Boca Raton.” A check of MLS listings didn’t find any new projects on Singer Island, a high-rise enclave north of the town of Palm Beach. Going back to the Miami tour, the big question is whether there’s another bubble brewing just a few years after the previous one burst. Zalewski didn’t say for sure, but he sees some worrisome signs. Some developers are parachuting into the market with no experience. That was a sign that preceded the last bust.
Icon Brickell has a strategic location on the Miami River
The big question is whether there’s another bubble brewing just a few years after the previous one burst.
Would-be buyers should pay attention to whether banks are providing financing – less than 10 projects had that status recently, but banks were reportedly getting ready to fund a spurt of projects. Some projects planned to build with developer cash and unit buyer cash, Zalewski says. Just like the last cycle, some projects have too many buyers who are friends and family. “Sales may not support what success on the street indicates,” Zalewski says. The new formula for
projects calls for 40 percent deposits before construction starts, but Zalewski says he heard of one project that was only asking for 30 percent. That could leave less of a cushion if things go south. Buyers should also pay attention to commissions paid to agents. Traditionally, brokers earned 5 percent on pre-construction sales, but some were paying 6 or 7 percent upfront, according to Zalewski. “They are needing to sweeten the pot, and as they sweeten the pot it raises questions.” ¿
Top: Condos along Biscayne Boulevard near Bayside
www.sfbwmag.com • may 2014
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MADE IN SOUTH FLORIDA
South Florida’s Big Lifesaver ACR Electronic’s locater beacons call for help in emergencies BY KEVIN GALE
The disappearance of Malaysia Airlines Flight 370 shows how difficult searches can be, but making them easier is a daily job at one of the oldest manufacturers in South Florida. ACR Electronic’s website has a long list of testimonials from boaters, hikers, sportsmen and pilots who’ve experienced emergencies only to be rescued as the result of their emergency locater beacons. The company’s products, including Artex, have saved thousands of lives over more than five decades. “Nobody buys our product hoping to use it. But everyone who buys our products know when they push the button it will work,” says President and GM Gerry Angeli.
ACR’s 55,000-square-foot plant in Hollywood even makes emergency locater transmitters (ELTs) for Boeing 777 jets – but Honeywell Aviation made the ones on Flight 370. ELTs are designed to sense the impact of a crash and send a signal to a satellite with the jet’s location. An ELT signal would have made it much simpler to find the missing flight. Why a signal didn’t go off was one of the biggest mysteries after the jet disappeared. Honeywell’s ELTs were in the news last year after an Ethiopian Airlines Boeing 787 Dreamliner caught fire at London’s Heathrow Airport. The Federal Aviation Administration ordered
Survival tales
The company’s website has gripping rescue stories from customers
whose lives have been saved by the company’s emergency locater
2
beacons.
Search and Rescue Satellites
Among them are boaters from Florida who were rescued at sea. Recipients supply their rescue story, which the company verifies, and get a new beacon when they mail it into the company. The beacons are then mounted on plaques and displayed at the company headquarters and sent to retailers who sold the devices. The concept was developed by Marketing Director Mikele D’Arcangelo and won the Marine Marketers America innovation award.
1
Read the stories at www.acrartex.com/survivor-club.
Distress Call Utilizing Emergency Beacon
3 5
Rescue Coodination Center
4
Local User Terminal
Mission Control Center
ACR Electronics timeline The South Florida company has a history of innovations that help save lives.
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1956: ACR makes the first electronic flash units for cameras, a technology that was later used for rescue strobes.
may 2014 • www.sfbwmag.com
1970: An ACR flashlight is used by Apollo 13’s astronauts as the sole source of powered light after an explosion.
1971: The astronauts write a thank you letter to ACR. Artex, not associated with ACR, is founded as an avionics distributor.
that the devices be inspected after a preliminary investigation raised concerns the fire might have been caused by the ELT’s wiring or lithium batteries. Angeli declined to talk about Flight 370, but says his company’s Artex ELTs can be activated manually through a cockpit switch and also are activated when a crash is sensed. The devices, which are usually installed in tail sections, are designed to resist impact and communicate with the Cospas/ Sarsat satellite system every 51 seconds when activated. The same satellite system is also used for emergency beacons carried by boaters and those on land. Signals are relayed to a ground station and ultimately to a rescue station, such as the U.S. Coast Guard. Artex, which is the aviation brand for ACR, also makes an interface that takes data from Boeing’s computerized flight system on an ongoing basis and relays it to the ELTs so they can signal a jet’s coordinates if there is a crash. ACR is also a consumer brand with hand-held personal locater devices, about the size of a cell phone, that are used by fishermen, pilots and back country sportsmen. Retailers include Boat Owners Warehouse and Bass Pro Shops. Some of the ACR marine devices float to the surface when they go under water and also have strobe lights to make it easier to find people in the water. Among other products, the company makes about 80 percent of the emergency announcement megaphones found on commercial jets and the water-activated blue strobe lights found on many life vests.
1972: ACR moves to Fort Lauderdale. Owner and CEO David Rush subsequently serves as chairman of the Florida High Technology & Industry Council.
Canadian Olympic gold medal winner Adam Kreek thanks workers at the ACR Artex factory in Hollywood. He and three other endurance rowers were trying to set a record in April 2013 by going from Senegal to Miami when a wave capsized their boat. They used a ResQLink personal locater beacon to call for help.
Inside the factory ACR keeps a high level of security at its factory on Ravenswood Road, which makes products for the military. A visiting journalist was asked to bring a passport and no cameras were permitted. The headquarters and factory operation is impressive for its production flexibility and technology. Walking down a hallway, Marketing Director Mikele D’Arcangelo pointed out where the company’s software, electrical and mechanical engineers work. Inside the factory, banners hanging from the ceiling designate 15 different production cells where the products are assembled. ACR basically makes products from scratch. One machine is capable of inserting 40,000 parts an hour into the circuit boards used on the array of products. Nearby, a 15-foot long oven is used to bake the circuit boards. Another machine coats the boards in a thin layer of silicone to prolong their lives and maybe even keep them from
1980: Artex gets Federal Aviation Administration approval to build battery packs for emergency locater transmitters.
shorting out if the outer casing of a device is breached in wet conditions. D’Arcangelo says ACR is the only beacon maker that goes that extra step. Manufacturing of the plastic cases is outsourced, but the plastic pellets are supplied by General Electric based on ACR’s specifications, he says. There are multiple inspection points. The personal locater beacons are tested with 45 bursts before they are shipped to customers. ACR Electronic’s President and GM Gerry Angeli says employees are very serious when it comes to the mission statement of making products that save lives. “The spirit of the product runs through the flow of the production line. It instills a spirit in them that makes them want to do a better job,” Angeli says. “You have to see when someone who is saved comes into the facility and the excitement that comes with that. They want to see the people that built the products that saved their lives.”
1990: Rush sells ACR to North American Fund II, led by Fort Lauderdale venture capitalist Charles L. Palmer. Artex starts making its own ELTs.
1999: Artex is purchased by Cobham plc, a British company.
www.sfbwmag.com • may 2014
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“Nobody buys our product hoping to use it. But everyone who buys our products know when they push the button it will work.”
MARINE: EMERGENCY POSITION INDICATING RADIO BEACONS (EPIRBS) go off when boats sink. Boat Owners Warehouse, $679.99
A trio of life saving products
PERSONAL LOCATER BEACON: FLOATABLE PLBS can be strapped to yourself like a cell phone and used on the ground or at sea. Bass Pro Shop, $289.99
The company makes emergency locater beacons for land, air and sea. All of the beacons transmit to a satellite network.
AVIATION: EMERGENCY LOCATER TRANSMITTER (ELTS) are designed to sense crashes and automatically send a signal.
ACR Electronics timeline 2003: ACR is the first manufacturer to have a personal locater beacon approved by the Federal Communications Commission. Artex introduces a breakthrough ELT that cuts search areas from
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20 kilometers to 100 meters. 2010: Artex moves from Aurora, Ore., to Prescott, Ariz. 2012: Cobham packages ACR
may 2014 • www.sfbwmag.com
and Artex together and sells them to J.F. Lehman & Co., a private equity company in New York, for $73 million. Out of Artex’s 20 employees, 14 subsequently move to Hollywood.
2013: Jordan Co., a private equity company in New York buys ACR and Drew Marine. The merger helps broaden Drew Marine’s products for the maritime and offshore industries. ¿
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How loving your city = economic development How not so ordinary citizens do extraordinary things BY KEVIN GALE
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may 2014 • www.sfbwmag.com
www.sfbwmag.com • may 2014
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BUSINESS ECONOMIC SCENE DEVELOPMENT
“When you see that message over and over. It’s very powerful.” Who knew that walking your dog could be one of the keys to economic development? That was one of the insights provided by Peter Kageyama, author of “For the Love of Cities,” during the Greater Fort Lauderdale Alliance’s Six Pillars Conference. Kageyama’s talk was well timed since many South Florida cities are seeking to create a better sense of place whether it’s Coral Springs trying to develop a new downtown, Midtown emerging in Miami or the surge of development in downtown Boca Raton and Delray Beach. There’s a real dollars and
sense reason to love your city. A study by the Miamibased Knight Foundation found cities with the most “attachment” by their residents had the highest growth in GDP. Residents are consistent about what they hate, including traffic, parking and ugly design, Kageyama said. By that standard, some South Florida cities haven’t made it out of the basic pyramid level of what cities need to provide. The higher levels are cities that are comfortable, convivial and fun. One example of a positive change is making cities bike friendly.
One of Greenville’s brass mice on Main
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may 2014 • www.sfbwmag.com
Preceding page: Candy Chang’s powerful It’s Good to Be Here Above: Chad Scott at the Flagler Community Garden
“It’s sending a message that it’s not just about the car and that we are thinking of you,” Kageyama said. Unfortunately, Florida’s bicycle fatality rate was nearly triple the national average in 2011, according to a study by the Center for Urban Transportation Research at the University of South Florida. Kageyama told the audience how someone just posted some signs in Raleigh, N.C. that said how far certain destinations were to walk since people tend to reflexively get in their cars even for short trips. While someone might complain about the unauthorized signs,
the city turned it into a pilot program. Dog friendly touches can also get people on the street, whether it’s dispensers with pooper-scoopers or a dog park, Kageyama says. People walking their dogs provide conversation starters and make areas more secure by putting more eyes on the street. While Chicago spent $457 million on Millennium Park with its computerized waterspewing sculptures with video screens, Kageyama said Braddock, Penn., spent $20 providing a water hose. The kids can still get wet in the park either way. If your city doesn’t have
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Peter Kageyama Author of “For the Love of Cities,” available for $9.99 (Kindle) or $15.64 paperback on Amazon.com. much money, he says, “What’s your garden hose solution?” Kageyama talked about co-creators who don’t have official roles, but create ideas and movements out of a sense of community. Candy Chang of New Orleans started using spray chalk and stencils to spray “It’s Good to Be Here” on sidewalks in 2010. “When you see that message over and over. It’s very powerful,” Kageyama said. In Greenville, S.C., high school senior Jim Ryan came to the mayor with the idea to put nine brass mice on Main Street and about $1,200 was raised to do so. Now, people walk around Main Street with maps and squeal happily when they find them, Kageyama said. There is even a children’s book, “Mice on Main.” Kageyama gave a shout out during
his talk to Chad Scott, a Re/Max realty agent who played a key role in creating Flagler Community Garden, which is now located next to First Evangelical Lutheran Church. The church deserves credit for donating use of the site, while the Fort Lauderdale Community Redevelopment Agency, Scotts MiracleGro and Whole Foods have also provided support. The garden provides produce for residents and generates a sense of community for residents with its #Lazyday from 10 a.m. to 2 p.m. on the second Saturday of each month. The ultimate plan calls for Whole Foods to have an educational pavilion at the site. Chang, Ryan and Scott are great examples of people who operate outside the norms. As Kageyama says, “That’s the secret sauce, the magical ingredients that make cities better places to live.”¿
Book premise: As cities begin thinking of themselves as engaged in a relationship with their citizens, and citizens begin to consider their emotional connections with their places, we open up new possibilities in community, social and economic development. Background: Kageyama practiced law after graduating from Case Western Reserve University, but then started a web development firm, Cyberscapes Interactive, with a member of his alt rock band. He was inspired by urban development guru Richard Florida and produced the first Creative Cities Summit in St. Petersburg.
www.sfbwmag.com • may 2014
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ECONOMIC DEVELOPMENT
» Stemtech International, which bills itself as The Stem Cell Nutrition Company, plans to create 90 new jobs at an average salary of $65,849 in Pembroke Pines as it relocates from San Clemente, Calif. PALM BEACH BUSINESS DEVELOPMENT BOARD » Allegiant Airlines will begin new flights from Asheville, N.C., to Palm Beach International Airport on May 15.
The $375 million redevelopment of the Riviera Beach waterfront
KEY BRIEFINGS NUMBERS BEACON COUNCIL
The Research Park at Florida Atlantic University had these numbers in its report on 2013 results.
$2.5 billion
Revenue for companies at the park
49%
Increase in revenue
33%
Increase in employment
1,307
Number of direct jobs at park
$30.9 million Capital raised in 2013
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New patent applications filed in 2013
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» Quicksilver Translate, a Spanish global multi-lingual translation and desktop publishing company, has opened an office in Miami, adding four jobs. » ratiokontakt, an international premium internet-service provider from Germany, opened a Miami office, adding 15 jobs and $1 million in new capital investment within three years. » US Container Line, a Netherlands-based logistics provider, opened a new location in the Blue Lagoon area to service existing clients and develop new business, adding 12 jobs. » Larkin South Miami Hospital plans to add 122 jobs, invest $64 million in capital and build a 100,000-square-foot facility as it develops a post graduate program
may 2014 • www.sfbwmag.com
with a College of Osteopathic Medicine, Pharmacy, Biomedical Sciences and a School of Nursing. » Multicare Pharmaceutical, a pharmaceutical wholesaler specializing in Brazilian and South American markets, is opening a location in Doral adding five jobs.
GREATER FORT LAUDERDALE ALLIANCE » Alliance wins Business Facilities magazine’s “Achievement in Public-Private Partnerships Award” for third straight year. » Copa Airlines will start four times a week flights from Fort Lauderdale-Hollywood International Airport to Panama City, Panama on July 11. » MarBlue, one of the world’s top manufacturers of accessories for mobile devices, will invest $2.9 million and create 28 jobs as it expands its headquarters and R&D facility in downtown Hollywood.
» Riviera Beach City Community Redevelopment Agency gives permission for city to proceed on a $375 million public private partnership to develop a waterfront village with shops, restaurants, a boardwalk, larger beach and a new events space.
MAY EVENTS MAY 9, 9 A.M.: Broward Cultural Division panel discussion on the creative industries as an economic development force in Latin America, South Florida and the Caribbean. MAY 13: 11:30 A.M. TO 1:15 P.M., Palm Beach Business Development Board CEO Series, with Roland Smith, president and CEO of Office Depot. MAY 16, 9 A.M. TO 5 P.M.: Business for the Arts’ Broward cultural tour. MAY 20, 9 A.M. TO 4 P.M.: Florida Chamber Foundation Six Pillars Summit at Palm Beach County Convention Center. MAY 22, 11:15 A.M. TO 2 P.M.: Greater Fort Lauderdale Alliance Mid Year luncheon.
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Meet the Willy Wonka of South Florida Hoffman Chocolates poised for more growth as part of BBX Capital
BY KEVIN GALE
“The one thing I was most impressed by when I did my due diligence is where they sourced their products. The apricot and pineapple are sourced from Australia. They are the best products in the world. The nuts are bought direct from the farms. We have them within days of being harvested.”
Life turns sweet for Hoffman’s Chocolate President and CEO Fred Meltzer
The outcome of this story might be better than winning the golden ticket in “Willie Wonka and the Chocolate Factory.” Fred Meltzer not only got the job of running Hoffman’s Chocolate, but found love, too. Fred started his career about as far from the world of chocolate as one might imagine, working for a boutique CPA firm that catered to real estate clients in Washington, D.C. He came to South Florida in 1989 as a controller for Nelson Peltz and Michael Swerdlow, who took over Hollywood Inc., the original developer of the Broward city. Fred subsequently carved out a career helping investors buy out mid-sized companies and then running them. By 1997, though, he wanted to be a stayat-home-dad for his daughter Brea, who was born the year before. He had learned about Hoffman’s Chocolates a couple of years earlier, but hadn’t pursued a position. Accountant Gary Gerson urged Fred to take another look, so that September Fred said he would work six months for free. Paul Hoffman and his daughter Sandra would get to know Fred and vice versa. “The one thing I was most impressed by when I did my due diligence is where they sourced their products,” Fred says. “The apricot and pineapple are sourced from Australia. They are the
best products in the world. The nuts are bought direct from the farms. We have them within days of being harvested.” After juggling two jobs, often working at Hoffman’s until 1 a.m. after his regular gig, Fred bought out Paul Hoffman’s shares. Sandra, who was executive vice president, stayed on and continued to play a key role with expertise that stems from her marketing degree at FAU. “Look at the packaging and gifts and designs she comes up with,” Fred says. “That sets our companies apart.” Hoffman’s went on in 2009 to acquire Good Fortunes, which makes giant gourmet fortune cookies. In 2010, it acquired Boca Bons, which makes gourmet bonbons that are sold online and in major retailers including Macy’s, Bloomingdales and Saks Fifth Avenue. The new online-oriented businesses helped balance the company out as brick and mortar retailers were hit by the “Great Recession,” Fred says. LOVE AND CHOCOLATE At first, Sandra and Fred just had a business relationship, but that evolved into a friendship. Fred says he admired her for the care she gave to her daughter, Christine, who has Down Syndrome. They both ended up in the dating scene and would console each other about their misadventures. “The turning point was probably about five years ago,” Fred says. “We usually would go to charity events together. Hoffman’s would be involved with hundreds of charities a year. There was this one event that was at the Breakers and for some reason we weren’t seated at the same table. I kept looking at her with her date and she kept looking at me with my date.” They talked about it afterwards. “We each said, ‘I don’t know how you feel,’ but we each said we would be open to dating,” Fred says. In May 2011, they got married. The happy story continued. Fred’s daughter is now 18 and was admitted to the University of Florida, while Christine is one of the best employees at Hoffman’s, www.sfbwmag.com • may 2014
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Fred says proudly. In February 2013, Hoffman’s was approached by BBX Capital of Fort Lauderdale, which holds some of the former assets of BankAtlantic. The two parties were well acquainted since BankAtlantic had Hoffman’s as a client for more than 12 years, says Jarett Levan, the bank’s former president and the president of BBX Capital, which has some assets from BankAtlantic. “I knew at the time that we wanted to be a consolidator of candy and confections,” says Levan. The business is not only fun, but there’s a gap for midsized companies between the mom and pops and the industry behemoths. “I recognized that we could acquire good brands that produce a good product that need capital and leadership for growth, which we can provide,” Levan says. In January, BBX Sweet Holdings acquired Williams & Bennett, a Boynton Beach company that produces Belgian chocolate products sold by boutiques, big box chains, department stores, resorts, corporate customers and private label brands. Levan says, “We are actively talking to several other companies both in Florida and across the country.” BBX can now provide the capital to fuel further growth of Hoffman’s,
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which has 15,000-square-feet of manufacturing space in Greenacres. FOCUS ON QUALITY Fred says the company is cognizant of global conditions that buffet the chocolate supply chain. “We are just as conscious as anyone else when it comes to proper farming and not using children in connection with the farming activities,” he says. “We have been very specific with the source of where we get the chocolate to continue to become more stringent.” Paul Hoffman continues to consult with the company on new products and the company’s production manager has been around for 16 years. Fred says the company is committed to upholding the quality that has earned kudos from the
Wall Street Journal. A lot of the business is labor intensive, such as double dipping the chocolatecovered pretzels – eaten by the last three presidents, Fred notes. Everything is hand rolled, hand cut and hand formed. One hot product these days is Coconut Cashew Crunch, a brittle type of product stuffed with cashews and coconut. It’s now in 120 locations and Fred expects to enlarge that to over 1,000. Expansion may include going beyond the five company stores, which Levan says is under study. Hoffman’s has experimented with holiday season popups like the one at the Bank of America building in downtown Fort Lauderdale a few months ago. Business it seems, is sweet indeed.¿
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BUSINESS PROFILE
The Great Translator
When Maria Merce Martin moved her small consulting firm to Weston, she only had an inkling of what it would become—a bustling high-tech firm with 100 employees and a long list of blue chip clients
BY JULIE KAY • PHOTOGRAPHY BY ANDREW URBAN
In August 2001, Maria Merce Martin and her family moved from Venezuela to Weston, Florida, trying to escape horrific violence in their native country and joining thousands of others fleeing the Latin American country. It was a decision she has never regretted, even during a moment of concern when the 9/11 terrorist attack occurred one month later. “I didn’t think about giving up and moving back,” says Martin. “We don’t give up. I love this country. We’re very thankful for the opportunities we’ve had here.” Those opportunities have proven fruitful for the energetic and vivacious Martin, who arrived with perfect timing—just as the Internet was blossoming into a major business tool. Now a U.S. citizen and proud of it, she didn’t just bring her entire family with her to a foreign country. She also brought along a company she had founded three years earlier, Optime Consulting, designed to hold the hands of Fortune 500 clients looking to reach international markets online. Optime Consulting today is a privately held high-tech marketing consulting group with annual revenues of $7 million, 100 employees and offices in the United States, Brazil, Mexico, Colombia, Venezuela and Spain. Acting as a sort of middleman between high-tech companies and international customers, Optime counts such blue chip companies as Hewlett Packard, Citrix, Microsoft and Motorola as clients. Among other services, Optime designs and executes multilingual customer loyalty programs, online marketing strategies and
social media campaigns. One of Optime’s clients is Avaya, the $5 billion business telecommunications company. Over the last 10 years of working together, Avaya’s vice president of marketing, Roberto Ricossa, has
Optime Consulting: Software Analyst Patricia Ayuso, Communication Director Amy Schaecter, & CEO Maria Merce Martin
watched Optime grow to include a virtual Babylon of international linguists who speak English, Spanish, Portugese and French. He says their companies have grown together. “Optime Consulting has been instrumental in all the programs we’ve launched, including a loyalty program for Latin American partners,” he says. “We developed the program together. I don’t consider www.sfbwmag.com • may 2014
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ABOVE: Optime team members in front of the “One Team One Cause” mural in the dining area BELOW: Optime Consulting Programming & Design area
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them a vendor or supplier, I consider them a partner. They don’t just copy what other agencies do. They have such creativity—and passion for helping their customers to achieve their goals.” Martin downplays her considerable career, preferring to focus on good health, family and charitable works. She intertwines all three with her business whenever she can. Staying fit is a passion of Martin’s, which is obvious to anyone who meets the trim, perfectlygroomed 48-year-old. She says she is motivated to maintain good health by her parents’ experience. Her father, who lives in Venezuela, is blind due to diabetes and has other ailments. “When I see my parents I see they don’t take care of themselves,” she says. “In order to get old with quality of life, you have to take care of yourself. My dream is to enjoy life with my kids and grandkids.” To spread the gospel of good health to others— and also help the community she has grown to love as well as celebrate 15 years in business—Martin held a 5K run in September at Markham Park in Sunrise. With sponsorships from Whole Foods, Offerdahl’s, Midtown Athletic Club and others, the race raised $15,000 for the Make-a-Wish
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Foundation. Optime hopes to make it an annual event. When Martin first approached certain sponsors about the race, they were skeptical. “‘Don’t think of having more than 400 participants in your first race,’ they told me,” she says. But, with her marketing prowess and Fortune 500 company contacts, Martin knew she could do better. And she was right: More than 1,000 people jogged, ran and walked that day. Martin lives in the city where Optime is based, nicknamed “Westonzuela” because of the large influx of Venezuelans there—so much so that she sometimes bumps into people she knew back home. She lives with her husband, Guillermo Palm, who runs a computer and network security company called Odveloper, and their two children, Andrea, 20, a student at Notre Dame University, and Michelle, 13, a student at St. Thomas Aquinas High School. When she misses her homeland, Martin knows where to turn—the local gas station, which houses a PANNA Café Express where Martin can grab an empanada or desgreñado and, for a few minutes, feel like she’s back in Caracas. ¿
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ECONOMIC TECH DEVELOPMENT HUB
$100 Million Man Alexander Gomez builds New Wave Surgical from a startup to being acquired by an NYSE behemoth BY KEVIN GALE
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Alexander Gomez was working as a surgical technician when he saw an odd mixture of high technology and low technology. The high technology was the laparoscopes used to do minimally invasive surgery. The low technology was a warm bucket of water on the floor. Since operating rooms
are so chilly, the laparoscopes were dipped into the bucket so they wouldn’t fog when being inserted into warm body cavities. Back in the late 1990s, Gomez thought that Broward General Medical Center was just using an outdated system. Then, while studying at Cornell University Medical College a few years later, he
Alexander Gomez has patents for D-Help, which keeps laparoscopes from fogging
“He’s one of those guys that just had a true belief that not only I was going to make it, but I would not break our trust.” worked as a tech in a state-of-the-art surgery room at New York Presbyterian Hospital. There was the bucket again. That inspired Gomez to invent D-HELP, a disposable, battery-powered heating device that contains a special solution to keep lenses clean during surgery. Gomez’s New Wave Surgical ended up on the Inc. 500 list and the company recently announced more than 1 million procedures had been performed with D-HELP. Gomez said that while getting on the Inc. list seemed like the beginning, it turned out to be the beginning of the end. His company gained so much attention that it eventually cut a deal to be bought for more than $100 million by Covidien PLC (NYSE: COV), which has more than $10 billion a year in revenue. INSPIRED BY CUBAN GRANDFATHER In some ways, the New Wave Surgical story begins like many other South Florida success stories: A well educated professional getting frustrated with Fidel Castro and leaving Cuba. Gomez said he drew a lot of inspiration from his grandfather, who was a physician in Cuba. He came to Miami briefly, but would have had
to redo his residency to practice, his grandson says. He realized he could instead practice in Puerto Rico, which had a need for doctors. While Alexander Gomez was born in Puerto Rico, he grew up in Amherst, Mass., where his family owned a Cuban restaurant. Like many small business owners, his family had to put its heart and soul into the restaurant and young Alexander was expected to do his part when he wasn’t in school. “All you do is work,” he said, adding that he wanted to get away. Gomez says he wasn’t a great student in high school and the pattern continued when he moved to South Florida. “I went to one semester at Nova Southeastern University and it wasn’t working,” he said. He knew how to bartend and worked at Bennigans and the Ale House, but started his medical career by going to Sheridan Vocational’s surgical technician school from 1997 to 1998. He worked at Broward General from 1998 to mid-1999. He really started getting on track when he moved back home and went to college at the University of Massachusetts. “When I went back to Massachusetts, I was so focused about school. I didn’t care about the partying,” Gomez says. He had a 3.9 average in biology and
completed his degree in three years. In 2002, he moved to New York City and began his medical education at Cornell. He was elected class president and then re-elected. He learned how to work with important people at the medical school and his classmates. But there was that bucket, so he started tinkering with concepts for what became D-HELP. He ultimately received three patents as the sole inventor and founded the company in 2003. QUEST FOR CASH Early on, he asked surgeon Dr. Daniel McBride to co-sign a bank loan, but the bank turned Gomez down because he lacked enough credit and income history. McBride gave him a loan for $90,000. “He’s one of those guys that just had a true belief that not only I was going to make it, but I would not break our trust,” Gomez says. His mother’s 1920s Victorian house was mortgaged in 2007 to provide money for New Wave, says Gomez, who also mortgaged his own home. Gomez found a mentor and main investor in Andy Widmark, an attorney who is also a professor at the Fuqua School of Business at Duke University. Widmark also owns a company that owns and manages shopping centers in 10 states and is managing partner of a venture investment fund he founded in Argentina. Most of New Wave’s investors came via Widmark, including members of Ariel Southeast Angel Partners (ASAP), Gomez says. Two members of New World Angels of North Florida also www.sfbwmag.com • may 2014
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“We don’t know what’s going to happen. We are tight on money. There is a chance things are going to get worse. If I’m going to work for nothing and people around here are going to work for little, we can’t stay in New York.” invested. While Gomez is the company’s president, Widmark helped give gravitas to its leadership by serving as executive chairman. New Wave started out with an office in the Bronx and then a cramped $3,500 a month, 700-square-foot office in Queens that was crammed with four employees and boxes of inventory. MOVING TO FLORIDA His investors wanted him to stay put, but Gomez made a proposal to move the company to Florida. “We don’t know what’s going to happen. We are tight on money. There is The clean room at New Wave Surgical in Pompano Beach
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a chance things are going to get worse. If I’m going to work for nothing and people around here are going to work for little, we can’t stay in New York,” he recalls arguing. He pointed out the company needed a couple of thousand square feet, which meant rent would be expensive. Some of the investors said they wanted the company to move to New Jersey or North Carolina where Widmark was. “Then the argument was, ‘I got to be happy to some degree, too. I’m not going to be happy in New Jersey,’” Gomez recalls. In 2009, he found 1,800 square feet in Coral Springs – half the rent and twice
D-HELP starts wth a metal core wrapped in heating wires
the size of New York, he says. “When I went to it, I said it was so big we will never need more space.” A lot of space was needed because New Wave decided to do its own manufacturing, Gomez says. The strategy was risky, but was somewhat born out of necessity. D-HELP was selling for $40 and the company was paying the manufacturer 75 percent of that, leaving little margin for profitability.
New Wave Surgical moved into its 34,000-square-foot manufacturing plant in the fourth quarter of 2013. A technician, below, solders connections.
“That was a big turning point. When we started the company, the easiest thing to do is a virtual company – have someone make and sell it,” Gomez says. Not only did New Wave bring the manufacturing in house, but it cut assembly time from 30 minutes to 12 minutes. Sales took off – from $1 million in 2010 to $12 million in 2012. In the last quarter of 2013, New Wave Surgical had a $30 million annual run rate in sales and moved into a 34,000-square-foot plant in Pompano Beach. New Wave’s products were being used in 70,000 surgeries a month and the company was gaining traction in Germany and Japan. “People started taking notice,” Gomez says. BIDDERS FOR COMPANY EMERGE New Wave had great gross margins, but taxes, including Obamacare’s new surgical product tax, were taking a big chunk out. Like many other fast-growing companies, New Wave needed fresh capital, which would dilute the stake of existing shareholders. Gomez had seen his family’s stake go from 95 percent to 19 percent. New Wave engaged an investment banker, and big players such as Johnson & Johnson became interested. Then two of the companies emerged as suitors to buy the whole company and the bidding started.
“I was really amped ato keep going. The realities of what it meant to keep going made me reconsider,” Gomez says. “Then, the final number that came out was higher than I thought they would give.” The company was sold for more than $100 million and the day before SFBW visited, the Justice Department’s time period to file an anti-trust objection had expired. The board approved giving 1 percent of the sales price to all employees making hourly wages and $1.5 million for options, Gomez said. Anyone that’s been with the company more than three years is getting a least one year of salary. One benefit of the heated negotiations is that Gomez didn’t have to sign a non-compete. Gomez hopes Ceridian will keep the 140-employee company in Pompano Beach and is anticipating a role as a consultant. “I will because I want to help them. I want to see the product used around the world,” Gomez says. While Gomez will have time to enjoy his new Maserati and the 10-month-old daughter, it doesn’t sound like he’s finished as an entrepreneur. He expects to look at helping other companies with good products that are struggling because they are not manufacturing themselves or having difficulty executing a business plan. “I also have a couple of ideas that I get to push out now,” he says. Consider Gomez’s bucket list still open.¿ www.sfbwmag.com • may 2014
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Beckham’s long shot
PORTMIAMI STADIUM SITE SPARKS WORRY ABOUT ACCESS, PARKING ISSUES AND IMPACT ON CRUISE LINES, BUT THERE ARE PLUSES AS WELL BY RYAN CORTES
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COVER ECONOMIC STORYDEVELOPMENT
Let’s talk stadiums and bending local politics to get them. Micky Arison bent it and won three championships (and counting). Jeffrey Loria bent it and got blistered by an angry mob. Stephen Ross bent it and, well, had to go back to the drawing board. What happens if David Beckham bends it here and tries to wade his way into South Florida politics, all in the name of a new stadium? We’re finding out. The global soccer superstar (with an estimated worth of $300 million) is the latest entrepreneur trying to bring a flashy new stadium to South Florida. But this isn’t for basketball, football or baseball like the other three owners — it’s for soccer, the same sport that failed in South Florida very recently. You may or may not have heard of the Miami Fusion, a since defunct MLS team that played its games (1998-2001) at Lockhart Stadium, a high school football field. That team was largely ignored by the public — with average attendance of 9,403 over its four years. In contrast, the Los Angeles Galaxy, four time MLS champions, had an average attendance of 22,152 for the 2013 season. Beckham brought widespread publicity to the Galaxy when he signed a $6.5 million deal in 2007, which also gave him the right to buy an MLS franchise for the bargain price of $25 million when he retired. He did so in May last year. Beckham’s celebrity status extends well beyond soccer, though, since he’s known for his model-like looks and marriage to former Spice Girl Victoria. “If there was one guy who could bring soccer anywhere in the world, it would be David Beckham,” says Steve Nudelberg, the principal of On The Ball Online, a marketing company that invests in emerging businesses.
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David Beckham playing for the Los Angeles Galaxy.
Port plans a marina and development at the stadium site, south of the bridge.
Another factor favoring Beckham is Miami further developing into a gateway community with Latin America and bringing a better brand of soccer than the region has seen before, Nudelberg says. Beckham also has powerful partners in Miami billionaire Marcelo Claure of Brightstar and Idol creator Simon Fuller. Miami’s Arquitectonica and 360 Architecture of Kansas City created an eyecatching concept for the stadium at the eastern end of PortMiami, with fans walking over from downtown on an unused drawbridge. When the concept was announced, John Alschuler, Beckham’s New York-based real-estate advisor, said, “We feel a stadium downtown can be a key contributor to the revival of a great city. David loves what it’s becoming, and much of that energy is downtown.” Beckham’s public relations agency declined an interview request from SFBW. Ken Krasnow, South Florida Managing Director for CBRE, said the stadium fits in with the continuing evolution of the downtown area as a lifestyle, cultural, arts, entertainment and sports market, which is widely supported by businesses. “I know there’s been some talks or some concerns about traffic, but I think the general overwhelming feeling is that between a Brickell City Center and everything that’s going on down here, traffic is coming, traffic is inevitable,” he says. Longtime civic leader Jack Lowell, the senior managing director for Flagler Real Estate Services, sees pluses and minuses for Beckham’s plan. “The market here has matured a lot. We’ve had several attempts at professional soccer over the years and they’ve all failed. So we have a bigger audience overall, we have a bigger select audience
“The market here has matured a lot. We’ve had several attempts at professional soccer over the years and they’ve all failed...” that likes soccer, we have become more urbanized. There’s a series of factors that would argue in favor of a stadium at this time,” he says. How much of that success is dependent on the stadium location is a matter of argument, Lowell says. “If you stick it out by the Marlins stadium, are you still going to get people to show up?” Krasnow says, “Marlins Park is disconnected from downtown, you can’t walk there, it’s not part of your day.” The concept of walking over a bridge to the port stadium is “a bit out there,” Krasnow says, but fans could ultimately get used to doing so. Lowell sees potential issues if the uses of the stadium conflict with activity at the port or traffic in downtown: “You’d have a real problem.” Representatives for PortMiami and Royal Caribbean didn’t respond for a request to comment, but both are reportedly leery of the idea. Stewart Chiron, who operates cruiseguy.com, is skeptical about how much fans well embrace the pedestrian bridge and says the port’s silence is explainable. “They haven’t [commented] publicly, personally, because I think it’s just so absurd,” he says. “And the chances are so remote, like slim to none, that it doesn’t behoove them to get into the discussion. We already know the cruise industry is against it, the cargo industry would be against it — it’s such a www.sfbwmag.com • may 2014
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poor location.” There are already plans for PortMiami to expand its cruise operations, which rank No. 1 in the world, Chiron says. “It’s just so wrong to keep going down this path. I don’t care if the Heat wanted to
taste Jeffrey Loria and his Marlins Park deal left in everyone’s mouths. The group is already trying to do that by saying they aren’t seeking money for stadium construction. It would like the sales tax break given to other sports teams.
Top: The proposed stadium site at the west end of PortMiami would have be reached by a pedestrian bridge. Bottom: The eye-catching view of the Miami skyline.
go there, it’s a horrible location,” he says. The Miami-Dade County Commission on April 8 refused to OK moving a fuel facilty on the stadium site, the Miami Herald reported. How real is the port stadium plan? “I think it’s actually a ploy,” Nudelberg says. “I think they know ahead of time they’re not going to get it there, but it’s the perfect strategic way to start with a vision, because that looks like a gigantic place to have an event. Wow! It’s on the water and all that. Logistically, I don’t think he’s going to get it done there, but if I thought it ahead, he’ll probably wind up doing something next to where the Marlins play, which is a really good place for it, and it’ll extend downtown to that area which is a great, great thing.” Speaking of the Marlins, one challenge Beckham has to overcome is the nasty
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The Marlins owner and his son-in-law, team president David Samson, swore for years that the Marlins payroll was so consistently low because the team either broke even or in most years, wasn’t making money. They said too that a new ballpark would fix that. The City of Miami agreed to help out and pay $479 million out of the $634 million of the stadium cost. The city also agreed (without taxpayer consent) to $409 million in loans. After the agreement, Deadspin.com, a popular sports site, ran leaked figures that showed the Marlins had raked in nearly $50 million just in the two years before the stadium deal. In contrast, Miami Heat owner Micky Arison has been a model owner, winning three championships and consistently fielding high payrolls that force him to pay a mandatory luxury tax to the
NBA. There’s little remembrance of how the Heat’s original stadium became quickly outmoded, leading to the AmericanAirlines Arena being built. Stephen Ross of the Miami Dolphins has had a wavering public perception that included a dive when he asked for taxpayer help for a $400 million stadium renovation and a jump up when he presented a plan where he’d pay all of the $400 million in exchange for a property tax break. So do Loria’s maneuvers become Beckham’s bother now? “I don’t think they’re separable,” says Chris Wittyngham, who’s covered the entire Beckham quest for 104.3 The Ticket in Miami. “Because there are all sorts of pieces of the same puzzle, which is that people assume that if there’s a stadium going to be built, it’s going to somehow involve their tax dollars. So as abundantly clear as the Beckham camp tries to make it, they’re still in Tallahassee trying to get tax money. I just think we got so burned by Loria that nobody is ever again going to have an easy time convincing people there aren’t going to be tax problems or parking problems.” But the glitz and glamour attached to Beckham is striking. When he trekked up to Tallahassee seeking to broaden pro sports tax breaks to include soccer, the media reported that legislative aides fawned over him all day. Gov. Rick Scott and House Speaker Will Weatherford, tweeted selfies of themselves with Beckham. MLS ROLE MODELS Whether or not Beckham and his team secure a stadium at the port, at Marlins Park or anywhere in between, there are promising signs in MLS attendance. In 2013, the average attendance was 18,594 and the Seattle Sounders hit 44,038. It’s a growing sports league with more and more eyes on it. Like Heat President Pat Riley, Beckham’s stature could help lure big-name players to South Florida. “If you’re going to do it here, you have to nail it,” says Wittyngham. “Gotta get the colors right, and the games have to be at night and there has to be stars and glamour. But in the end, they’re still going to play a Thursday night game against Colorado and 25,000 people have to show up and that’s the question at the moment.” ¿
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INTERNATIONAL SNAPSHOT
Gold’s Diminished Luster Hits Trade Numbers COMPILED BY KEN ROBERTS OF WORLDCITY (worldcityweb.com)
Gold was one of the factors in a 9.36 percent drop in trade for the Miami Custom’s District as the year kicked off. Trade fell to $9.13 billion in January, compared to the year-ago month, as exports decreased 8.04 percent while imports fell 11.05 percent. Miami has played a key role as a transshipment hub for gold in recent years, especially as prices boomed. Gold from the Americas is frequently shipped off to locations such as Switzerland for reprocessing via Miami. Gold ranked as the top import into the region for January and fourth as an export. Gold prices tend to surge during times of economic uncertainty and as a hedge against inflation. However, inflation fears have subdued recently and surging equity markets have become attractive to many investors. Gold prices had recently dropped $283 an ounce over 12 months (17.55 percent) to $1,333. Imports of gold to Miami were down 34.55 percent to $363.44 million
in January while exports were down 51.35 percent to $275.12 million. So what trade commodities were hot? Landline and cellular equipment. Exports of those products rose 8.37 percent to $506.51 million and imports rose 27.33 perccent to $209.43 million. Exports of computer parts rose 43.65 percent to $166.86 million. One plus for consumers, who appreciate lower prices at the pumps, is that fuel imports dropped 9.69 percent to $311.02 million. ¿
Trade Patterns
A look at top imports and exports from the Miami Customs District for January
IMPORTS
Global Trade
Commodity
Total in Millions
1
Gold
$364
2
Gasoline, other fuels
$311
3
Imports of returned exports
$229
4
Computer chips
$227
5
Landline, cellular phone equipment
$209
Rank
EXPORTS
44
Rank
Commodity
Total in January
1
Landline, cellular phone equipment
$506
2
Civilian aircraft and parts
$470
3
Computers
$352
4
Gold
$275
5
Computer parts
$167
may 2014 • www.sfbwmag.com
13.92% 137% .20% 4.74% 1.05%
SNAPSHOTS Miami International Airport: Global trade was up 13.92 percent to $5.1 billion in January. Exports increased 11.55 percent while imports rose 17.30 percent. Port Everglades: Global trade was up 137 percent to $1.96 billion. Exports increased 3.88 percent while imports rose 1.23 percent. PortMiami: Global trade was up 0.20 percent to $1.93 billion. Exports increased 3.61 percent while imports rose 3.42 percent. Port of Palm Beach: Global trade was up 4.74 percent to $183.59 million. Exports increased 4.51 percent while imports rose 5.33 percent. Fort Lauderdale-Hollywood International Airport: Global trade was $162.16 million, up 1.05 percent. Exports increased 33.86 percent while imports rose 84.39 percent.
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www.sfbwmag.com • may 2014
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UP & COMER AWARDS THE EVENT scene on site
Up & Comer Awards
UP & COMERS AWARDS On February 27, 2014, Lifestyle Media Group and NorthWest Mutual presented The 2014 Up & Comer Awards, a showcase of South Florida’s young professionals whose dedication to their occupation and to their community deserves recognition. The event took place at The Gallery of Amazing Things in Dania Beach Florida
Russell Neal, Kathleen Cannon, Robert Judd, Esq., Jackie Travisano, and Dennis Haas
SFBW program to feature the best and brightest young leaders in South Florida
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Jim Norton, Candy Norton, Bill Feinberg,, and Bibi Marchitto
EDUCATION HONOREE
MERCEDES CABRERIZO
Chef Michele Ragussis and Chef Andres Marin
Florida International University Cabrerizo arrived in America from Cuba at the age of 20, and she didn’t wait long to get cracking. She left FIU in 2003 with a Bachelor’s degree Magna Cum Laude, and returned for her Ph.D in 2006. Now a professor at FIU, Cabrerizo has published 20 articles in medical and engineering journals, 30 peerreviewed conference articles and a couple of book chapters on brain research. In addition to her academic work, Cabrerizo spends time at the Miami Children’s Hospital, where she has helped dozens of children with epilepsy.
asked to speak to different groups about financial planning and saving for retirement. While she graduated from the University of Maryland with her marketing degree, Wiener came back to South Florida to attend the University of Miami for law school. Wiener also serves on many local committees including the Museum of Discovery and Science, Mothers against Drunk Driving and the HEALTHCARE HONOREE Literary Lunch for PublicGillian Libraries. Mayersohn, Josh Greenberger, and Dorian Greer
FINANCE FINALISTS
Rachel Barzilay Merrill Lynch–The Barzilay Group Justin Santangelo Northwestern Mutual–The South Florida Group Mitchell Lamchick Raymond James Investment Firm
EDUCATION FINALISTS Ellice A. Martinez Broward College, Office of Advancement Jene Kapela Leadership Solutions / Nova Southeastern University
ONLINE PRESENCE
FINANCE HONOREE
ALI WIENER
Morgan Stanley Wiener is currently a Financial Advisor and Portfolio Manager for Morgan Stanley, where in addition to her daily duties, she’s often
GOVERNMENT HONOREE
DAVE KERNER
Florida House of Representatives When Kerner was a teenager he wasn’t practicing to be a politician, he was an award-winning cop. He started wearing a badge at 19 (while a full-time UF student), won the award at 20 and then went to law school at 26. It was there that Kerner found a passion in student government and his future life. After running and winning office last year, Kerner was named in the Top 20 Under 30 Alumnus for UF, and a Top 40 Under 40 trial attorney and legislator of the year for the Florida Sheriffs.
GOVERNMENT FINALIST Shevrin Jones State of Florida
THE WINNERS
The Up & Comers Awards is a unique awards program created by Lifestyle Media Group to recognize South Florida’s outstanding achievers under the age of 40. This program was successfully launched by Lifestyle Magazines in 2014 and drew 250 attendees to the Gallery of Amazing Things in Dania Beach. It will now be featured in SFBW. The awards ceremony and special editorial section showcase the best and brightest “rising stars” in our community – many of them already top leaders in their fields. These innovators represent a wide range of backgrounds and industries. They have a compelling and inspirational story and unique talents that define their path to success. Candidates are judged on both their professional and community achievements, as well as demonstrated success in a leadership role. Nominees are reviewed and final honorees selected by a judging committee comprised of distinguished community leaders, academic leaders and the SFBW editorial staff. Any business or individual can submit a nomination. There is no cost to enter the Up & Comer Awards. http://lmgfl. com/up ¿
Joe Aycock, Ciro Mendez, Ingrid Sattler, Mario Lacayo, and Dean Bergman
ALEXANDER GOMEZ
New Wave Surgical Thanks to an idea Gomez concocted while in Med School at Cornell University, his company pulled in over $12 million in 2012. In fact, his conviction — that the lens of the microscope used for laparoscopic surgery was too dirty and needed change — caused him to drop out of med school. Gomez moved to South Florida to focus on his product called D-HELP, a small device that cleans and warms the lens, and launched New Wave Surgical. Today, over 1,000 hospitals use his product, with D-HELP being used in over a million procedures. Camilo Ruiz Choice Physicians of South Florida Tiffany Sizemore-Ruiz Choice Physicians of South Florida Jacob Steiger Steiger Facial Plastic Surgery/ 1001 Aesthetic Medical Center
HOSPITALITY HONOREE
PAULA DASILVA
3030 Ocean DaSilva is currently the executive chef of 3030 Ocean, a popular Fort
may 2014 • www.sfbwmag.com
Lif
STEPHEN WEBSTER www.neimanmarcus.com
www.sfbwmag.com • may 2014
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LEADERS IN LAW AWARDS THE EVENT
Leaders in Law Awards
LEADERS IN LAW AWARDS On February 27, 2014, Lifestyle Media Group and NorthWest Mutual presented The 2014 Up & Comer Awards, a showcase of South Florida’s young professionals whose dedication to their occupation and to their community deserves recognition. The event took place at The Gallery of Amazing Things in Dania Beach Florida Chef Michele Ragussis and Chef Andres Marin
Program recognizes top attorneys in a variety of legal categories
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Jim Norton, Candy Norton, Bill Feinberg,, and Bibi Marchitto
THE WINNERS
Gillian Mayersohn, Josh Greenberger, and Dorian Greer
Governmental Law HONOREE – TIE
Joe Aycock, Ciro Mendez, Ingrid Sattler, Mario Lacayo, and Dean Bergman
Ronald L. Book Ronald L Book P.A.
Book is president and CEO of Ronald L. Book, P.A., considered one of the top law firms that specialize in government law. Following a career in government working for the Florida Legislature and then as Governor Bob Graham’s Director and Special Counsel on Cabinet and Legislative Affairs, Book went on to practice law in his own firm. His firm has prospered in recent years, including successfully lobbying the largest medical grant in Florida history on behalf of the Human Genomics Project at the University of Miami. Book’s community involvement includes providing pro-bono services to the Florida Council Against Sexual Violence, Joe DiMaggio Children’s Hospital, Broward Partnership for the Homleless and several other associations.
Governmental Law Finalists
ONLINE PRESENCE
Lifestyle Media Group created an awards program designed to showcase South Florida legal professionals whose dedication to their occupation and to their communities deserves recognition. This program, which will now be showcased in SFBW, was successfully launched by Lifestyle Magazines in 2013 with an event that drew 300 attendees to an awards program at Nova Southeastern University. The awards honor lawyers, law firms and corporate general counsel who have achieved excellence in law, maintained the highest level of ethics, shown a commitment to their community and are proven leaders. Honorees are recognized both at an awards ceremony and within the pages of our magazines. It’s our opportunity to applaud the best lawyers and recognize the law firms who do the most for the community. Nominees are reviewed and final honorees are selected by a judging committee of legal professionals. Candidates are judged on outstanding litigation, advocacy and counseling, as well as contributions to the advancement of the legal profession, such as public service, bar association activities, and pro bono activities. Any law firm, business or individual can submit a nomination. There is no cost to enter the Leaders In Law Awards. http://lmgfl.com/lil ¿
Robby H. Birnbaum Greenspoon Marder, P.A. Sidney C. Calloway Shutts & Bowen LLP Jamie A. Cole Weiss Serota Helfman Pastoriza Cole & Boniske Bernie Friedman Becker & Poliakoff Jeb Niewood State of Florida
Healthcare Law HONOREE Insurance Law HONOREE Russell Neal, Kathleen Cannon, Robert Judd, Esq., Jackie Travisano, and Dennis Haas
Gabriel L. Imperato
Frank Steven Goldstein
Broad and Cassel
Goldstein Law
Imperato is board-certifi ed in health law by the Florida Bar and in Health Care Compliance (HCC) by the Health Care Compliance Association, where he sits on the Board of Directors and is the Second Vice President. He is AV rated by Martindale-Hubbell. Currently, Imperato is the Managing Partner of the Fort Lauderdale offi ce of Broad and Cassel and serves on the Firm’s Executive Committee. He is a member of the Health Law Practice Group and is the cochair of the Firm’s White Collar Defense and Compliance Practice Group. He has served as Deputy Chief Counsel of the Office of the General Counsel, United States Department of Health and Human Services. His commitment to his community is evident with such involvement as forming an emergency scholarship fund for health sciences students.
Goldstein is the founding partner of the AV-rated Goldstein Law Group and a leading attorney in the field of insurance law. He is in charge of litigation and management of cases, including claims and lawsuits on behalf of corporate clients and large insurance fi rms such as State Farm, Allstate, Geico, Farmers/21st Century, Gainsco, MetLife, Mercury, Nationwide, Sentry, and Unitrin. Goldstein is a certified insurance instructor by the State of Florida and a member of the American Bar Association, the Florida Insurance Fraud Education Committee, the National Society of Professional Insurance Investigators, and several others organizations. He has been instrumental in three-year investigation by the FBI and other law enforcement agencies into a local auto accident fraud ring. This culminated in nearly 100 arrests.
Healthcare Law Finalists
Insurance Law Finalists
Ira Coleman McDermott Will & Emery Shari L. McCartney Tripp Scott Michael W. Moskowitz Moskowitz Mandell Salim & Simonwitz, P.A.
Michael J. Higer Higer Lichter & Givner LLP Mark G. Keegan Rosenbaum Mollengarden PLLC Daniel J. Rheaume Welt & Rheaume, P.A.
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www.sfbwmag.com • may 2014
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PRIVATE EQUITY FOCUS Co-founder and co-CEO Bruno Lévêque
E-Commerce Company Helps Process $15 Billion In Sales The Company PrestaShop ➤ Executives: Bruno Lévêque, co-founder and co-CEO and Benjamin Teszner, co-CEO based in France. Employees: 20 in Miami, 80 globally. Concept: E-commerce software solution maker. Competitive Advantage: The software has 310 features that allow merchants to customize it to their business. Since its launch in 2007, PrestaShop has helped 165,000 online merchants process more than $15 billion in sales with its open source e-commerce software solution, allowing it to more than double revenues over the past two years and exceed $11.7 million in fiscal 2013, the company says. Money Recently Raised: $9.3 million. How The Money Was Raised: Series B Fund Round led by XAnge Private Equity Seventure Partners and Serena Capital. The company previously raised $5.57 million through angel investors and a Series A Round led by Serena Capital. Future Plans: The new financing will fuel PrestaShop’s growth and international expansion, accelerate product development and support new marketing initiatives, company executives say. Who’s Your Competition: Elastic Path; Volusion; Magento; Shopify.
1001 SW 8th St. • Miami, FL 33131 1.888.947.6543 prestashop.com
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$9.3
million raised
www.sfbwmag.com • may 2014
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VENTURE VIEWPOINT
Comvest Partners Targets Opportunities In Health Care Founder and Managing Partner Michael Falk tells how South Florida has turned out to be a great location for his company and about some of its key investments, including airline company Allegiant Travel and BEL USA, a Miami area promotional products company. BY LESLIE KRAFT BURKE
Q&A
What types of companies do you invest in and why? We invest in lower middle market companies where we see opportunities for operational improvements and growth. We invest in sectors where we have expertise, which includes healthcare, services, manufacturing, technology, retail and consumer, and transportation and logistics. Where are they based? Our companies are all based in North America, primarily in the U.S. How do you find them? Our firm has been actively investing in the lower middle market for over 25 years. In addition to the relationships of our investment professionals, and an extensive network of attorneys, restructuring professionals, bankers, advisors, and financial professionals that regularly refer us deals, we have an inhouse new business development group that calls directly on lower middle market companies and intermediaries across the U.S. What, in your opinion, is the best
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may 2014 • www.sfbwmag.com
investment the company ever made? Allegiant Travel (NASDAQ: ALGT). This was a company that created a unique, low-cost “destination specific” airline model, bringing travelers to one of the top destinations in the U.S. – Las Vegas – from tertiary cities all over the country. Our capital investment and expertise allowed them to execute on the strategy, and expand the concept to other top U.S. travel destinations, such as Orlando. We returned over six times invested capital to our investors in less than two years. What is the average size of your investment (in dollars)? Our average investment is $25 million - $50 million. What industries do you invest in and why? We invest in industries in which we have experience and particular operating expertise or resources we can bring to bear. Historically, our core focus has been on healthcare, services, manufacturing, technology, retail and consumer, and transportation and logistics. If you were to add an industry, what would it be? While we maintain a focus on a core set of industries, we will broaden our focus and look at other industries provided
Michael Falk
we believe we have the proper internal expertise and operating resources for us to execute our strategy. What industries are hot in South Florida? Companies of managed care that align with the Affordable Care Act’s focus on cost containment and quality of care currently present opportunities for Comvest. What criteria do you use to understand if a company is a good investment? On each investment, we undertake a very detailed due diligence process. The process includes, among other things, assessment of the market and
WIKIMEDIA COMMONS: FRED
Comvest Partners helped fund the growth of Allegiant Air, which focused initially on serving Las Vegas.
competitive dynamics of a company, its position in the industry, strength and specific experience of the management team, outlook and sustainability of the profit margins, recurring nature of revenue, barriers to entry, historical and financial performance and current financial performance, opportunity to improve financial performance and growth, valuation of the investment and anticipated exit opportunities. What is your most recent investment and why did you make it? BEL USA. BEL USA is an online promotional products company based in South Florida that has created a competitive advantage by integrating its supply chain. BEL USA offers the lowest cost and best quality product to customers seeking customized mugs, t-shirts, pens, etc., and has built a highly successful business. Since BEL USA runs its own website (www.belpromo.com), printing, warehouse and distribution, the company is able to provide a reliable, cost effective product to its customers, and has sustained rapid growth. We believe that growth can continue. Why are you based (or have an office) in South Florida? While our business can be located almost anywhere on the U.S., South Florida offered a unique opportunity
to partner with highly successful and experienced local operating executives who, after achieving a degree of success, have relocated here, either full-time or part-time. These executives and the knowledge we’ve been able to gain from them have been invaluable to our organization, and much more difficult to attain in places like New York City where we were based before relocating
to Florida in 2003. We have also found it to be a competitive advantage when winning over management teams for our portfolio company investments as there is often a comfort level for smaller companies in dealing with a private firm located in South Florida rather than larger firms in big cities. ¿
Comvest Partners Name: Michael Falk
the Comvest Investment
Title: Founder and Managing
Partners equity funds, and
Partner
Comvest Capital debt funds.
Company: Comvest Partners
Since 2000, Comvest has
Address: 525 Okeechobee
invested almost $2 billion of
Blvd., Suite 1050, West Palm
capital in over 130 public and
Beach, FL 33401
private companies.
Phone Number: 561.727.2000
Number of Employees: 44
Web Site: www.comvest.com
Private Equity Assets: $1.3
Company Description:
billion under management
Comvest Partners is a private
Mission Statement: Comvest
equity firm investing debt and
Partners provides flexible
equity capital in lower middle
financing solutions to lower
market companies nationally.
middle-market companies
Its investment vehicles include
through its two funds.
www.sfbwmag.com • may 2014
53
WEALTH
The push for crowd funding BY KEVIN GALE
Everybody has heard of the problem small businesses have getting loans, but Michael Mildenberger is actually doing something about it. Mildenberger is CEO of Funding Wonder, a Miami company that’s backing legislation that would allow crowd financing in Florida. The concept would allow a non-accredited investor to loan up to $2,000 in an individual company and get what Mildenberger estimates is a 6 to 9 percent interest payment. Mildenberger is also president of the new Florida Crowd Financing Association, which is backing state legislation. Mildenberger’s back story is that he was born and raised in Germany, but moved to the U.S. in the mid-1980s. He became a U.S. citizen and in 2004, opened the Miami, New York and San Francisco offices for CF Partners of Germany. The investment banking and M&A company mainly does international deals in the range of $20 million to $300 million. CF has a 30 million Euro fund in Germany for startups and four years ago began looking at crowd funding, Mildenberger says. The $600 billion funding market for small business is 20 times the size of the venture capital market, but small businesses have suffered since the recession started. “A lot of banks don’t want to do loans under $150,000,” he says, “so what about people who need $20,000 to $150,000 to add a room or buy another pizza oven?” His concept is to have an online portal where small businesses can be matched with investors who can spread their risk over multiple borrowers. The pitch to the state is that small businesses are a key economic engine that needs to be nurtured. “Our business model includes about 80 percent of the loans backed by assets. It’s the equipment that the air conditioning guy buys. It’s the car that a transportation company needs,” he says. A similar model in the United Kingdom has loaned about $250 million and the default rate is 1.4 percent, Mildenberger says. He expects no more than 3 percent with the fund here. Credit scores go from A to C, but his research indicates the people with the lowest credit rating have the lowest default rate, Mildenberger says. “They have a hard time getting financing anywhere so when they get it they are really focused on paying it back,” he says. State legislation is needed to provide mass opportunity because only 5 percent of individual investors are accredited, such as having more than $1 million in assets, excluding a primary residence, or an average income of more than $200,000. About six months ago, he engaged the Fort Lauderdale law
54
firm of Becker Poliakoff as lobbyists. The state’s Office of Financial Regulation has been concerned about how to block scam artists. Portal operators, such as Mildenberger, would have to be finger printed and businesses would have to meet certain funding guidelines. Every click on the funding portals, including email and correspondence will be tracked, Mildenberger says. He thinks con artists would rather keep flying under the radar. ¿
may 2014 • www.sfbwmag.com
FS
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WHERE DO YOU LIVE AND WHY?
Palmetto Bay Jeremy and Courtney Larkin make their start near Old Cutler Road BY KEVIN GALE
Jeremy Larkin says his neighborhood in Palmetto Bay reminds him of where he grew up in Boston with its lush foliage and variation in housing. “It’s not like some areas – a residential Disneyland. I wanted the neighborhood not the development,” says Larkin, who knows a lot about real estate as the president of NAI Miami. Larkin, his wife Courtney and their son Ethan, who was about to turn 4 during a recent visit, live in a five-bedroom, 4.5-bath, 3,623-square-foot home built in 1977. They also have two dogs they’ve rescued – Chelsea, a Border Collie mix and Chloe, a Basset Hound and Labrador mix.
Their home typifies the casual Florida lifestyle with a roofed patio that overlooks an expansive screened-in pool and a shady backyard with a hammock. They are far enough south that Key Largo is just a 45-minute ride away. “We love living off Old Cutler Road, it’s gorgeous,” Courtney says. “The Deering Estate is beautiful. It’s across the street.” The neighborhood is a great place to walk and bike. Jeremy says his parents moved to Pinecrest while he was in college and he did an internship between his junior and senior year at Southeast Bank.
Jeremy, Ethan and Courtney Larkin in their kitchen.
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The Larkins rescued Chelsea and Chloe from an animal shelter.
“It’s not like some areas – a residential Disneyland,” he says. “I wanted the neighborhood not the development.” “I determined based on the weather that I’m coming here,” he said, sitting on the patio and enjoying a glass of 2010 Kenwood Reserve Cabernet on a day when temperatures were still freezing up north. Just before their marriage, the Larkins were searching for a five-bedroom home and Jeremy spied a listing while having breakfast at Roasters and Toasters in the Dadeland area. “I made a call and we came over here and it was a disaster. Every room was painted a different color,” Jeremy says. “It was a circus,” Courtney adds. The kitchen was outdated and the house had some cork floors that were put on top of two layers of tile. It was obvious from the odors that pets and smokers had lived there. “We had friends who said they had to go home and take a shower” after seeing it, Courtney says. Courtney cried when he said they should buy it, Jeremy recalls. However, the house had great bones and some
nice details such as crown molding. There was a bit of an adventure getting the crisp khaki interior paint that Courtney wanted, since it was discontinued. (A paint store in Fort Lauderdale had a sample card to replicate it.) There were also 35 frantic messages from a contractor waiting for Jeremy when they returned from a honeymoon in Tahiti – who the heck paints every room inside the house the same, “we don’t do this down here,” was the theme of the messages. When they actually visited the house, the painter said he fell in love with the color. Courtney says it’s the perfect neutral backdrop when the walls are decorated. Jeremy also figured out the
Florida room originally had a bar area – a clue was a sink with plumbing on the patio – and verified that by pulling the original plans. That made putting the bar back in relatively easy and they gutted the kitchen in January 2008, two months after moving in. The color plan for the kitchen drew skepticism. “We were told our color selection was wrong,” Jeremy says. “You can’t take a dark wood and put a dark granite on top of it. And I responded, ‘I have 90 percent windows wrapping out to the south and west.’” Like most kitchen projects, it was very disruptive, but Courtney says she learned you can actually bake a cake on a gas grill.¿
Ethan enjoys the slide on his playhouse.
www.sfbwmag.com • may 2014
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BY DENISE STIRK PHOTO BY DOWNTOWNPHOTO/FORT LAUDERDALE
Who: Kim Cagiano What: Senior Vice President, Director of Sales and Marketing Where: SunTrust Bank Banking attire used to be ultra conservative, but acceptable office wear has become more fashion forward for both men and women. Kim Cagiano embraced the movement and loves that she can take her feminine-chic style into her workplace. And just like with street clothes, she knows you have to follow your heart with your business choices, too. Kim says, “Don’t take yourself too seriously. It’s all about having fun with fashion. Have a few timeless pieces and don’t be afraid to mix and match colors and patterns.” When she’s not dressed for success, she can be found in linen shorts, wedges, flirty top, turquoise jewelry and a fun handbag, but when she’s in the office here’s how you’ll find her:
STATEMENT NECKLACE: A statement necklace takes any attire up a notch. Kim shops for hers at Banana Republic. She says, “Banana is my go to, I love their statement jewelry and you can get anything from a dress to suiting – one stop shop to build an outfit from head to toe.” PLAY WITH PRINTS: A simple way to add in prints at work is with accessory pieces, and a fitted (or cropped) blazer is a great place to start. CAN-DO COLOR: Don’t be afraid to wear color. Kim does it right with her crimson flared dress. “It’s great not having to wear a dark suit every day!” DRESSES WILL IMPRESS: Suiting is good, but they can get boring, so take a tip from Kim and get yourself a few good dresses for the office. “Dresses are my go to item. They are feminine and it’s fast and easy to build a look around them by adding a blazer, scarf or cardigan.” Dare to BARE LEGS: Legs no longer need to be covered up in hosiery – especially here in steamy South Florida. PUMP-UP YOUR PUMPS: Shoes are an easy way for women to bring in a bit more style and personality. A classy pair of on-trend heels, like Kim’s d’Orsay pumps, can be both sophisticated and fun.
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MEET MY RIDE
Mitch Kramer and his son Harrison
Driving Tesla Roadster never gets old The electric ride: From 0-60 in 3.7 seconds BY KEVIN GALE • PHOTO BY KEVIN GALE
Mitch Kramer has a Lotus Evora S, Porsche 911 Black Edition Cabrio, BMW Z4 S Drive 35is and a 1985 Mazda RX7, but says “nothing provides the sheer fun of driving the Tesla Roadster.” Tesla only makes sedans these days, but its first car was a Roadster launched in 2006 using a frame from the Lotus Elise. Kramer’s car is the Roadster 2.5, which was introduced in July 2010 and has the most torque of the roadster models. “All the torque hits the wheels immediately and it only has one speed so there is no lag in acceleration like traditional gas powered cars, turbo’s etc.,” Kramer says. “It goes 0-60 mph in 3.7 seconds and feels much faster than that. I describe it as
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‘never getting old.’ Driving the car is just so much fun.” Power is provided by 1,000 lithium ion batteries, which leave little space in the trunk. The passenger area is pretty tight, too, and somebody much over six feet tall might have a hard time fitting in it. Kramer is president of Octagon Professional Recruiting, which has offices in Miami’s Blue Lagoon area, One Boca Place and Plantation. He says he often gives demo rides in the Tesla to his clients in IT, finance, accounting and HR. Kramer says, “It is fun to see the look on their faces when I take them for a spin in it (especially the technology folks).” ¿
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www.entekconstruction.com 305-662-1920 www.sfbwmag.com • may 2014
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SPENDING IT
Azamara Quest
Azamara Quest
How small can be better when it comes to cruise ships BY KEVIN GALE
Occupancy: 688 Tonnage: 30,277 Length: 592 feet Beam: 84 feet Draught: 19.85 feet Decks: 11 SHIP EXTERIOR PHOTO: CREDIT IVAN T./WIKIMEDIA COMMONS
Upgrades: Specialty dining
The Azamara Quest fits in ports where bigger ships cannot.
The Oasis of the Seas and Azamara Quest represent the extremes of ships that fall under the umbrella of Royal Caribbean Cruises Ltd. of Miami. For starters, it would take eight Quests to equal the size of the Oasis, which is tied with sister ship Allure of the Seas as the world’s largest cruise ship at 225,282 gross registered tons. While the Oasis is a technological wonder that appeals to a broad consumer market and is too big for some ports, the Quest targets a more affluent market and its shallow draft allows it to visit ports that can’t handle big ships. Unlike the Oasis, which has seven-day Caribbean cruises, the Quest and sister ship Journey travel the globe. SFBW toured the Quest during a recent visit to PortMiami. The Quest was hosting a Leukemia and Lymphoma Society fundraiser for Michelle Fee, co-founder and CEO of Cruise Planners, a Coral Springs company that is top-ranked in the travel category for franchises. The Quest has an intimate atmosphere, which was apparent when guests stepped on board and turned into the Mosaic Café, which has espresso machines and a variety of baked goods in a lounge area.
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in the Prime C Steakhouse and Acqualina Mediterranean seafood restaurant are $25, the Chef’s Table is $95, but both are free to guests in suites. Upgraded beverage packages are available History: Built in 2000 for Renaissance Cruises and acquired by Azamara in 2007. $10 million refurbishing in 2012. Officers and Crew: 408 Cruisecritic.com rating: 4.7 overall (top rank was 4.9) and 5.1 for service (top rank was 5.3)
Welcome to the Mosaic Café, an intimate coffee bar aboard the Azamara Quest.
Everything is scaled down – from the dining rooms and spa to the mid-ship pool – which is great for those who want a different experience from big crowded ships. The interior of the ship was elegant, partially due to a 2012 $10 million remodeling. Among the things that make the Quest different from mass market cruises are the late night stays in ports that allow passengers to enjoy the nightlife. In the case of special events, such as Carnival in Rio de Janeiro, the British Open in St. Andrews or the Grand Prix in Monaco, the ship can stay up to a couple of nights, so guests can immerse themselves in the experience. The price of a ticket also includes
The hot tub awaits as passengers start boarding.
SPENDING IT
The lunchtime buffet includes sushi.
The Windows Lounge offers a spectacular view.
gratuities, standard alcoholic beverages, specialty coffees and soft drinks. (Upgrades are available for premium alcoholic beverage packages.) Passengers who don’t want to over pack can use the free self-service laundry. During AzAmazing Evenings, which are also included, custom events are set up for passengers, such as a visit to the ballet in St. Petersburg, Russia, or a reception in St. Tropez.
During White Night Parties, the pool deck area is cleared and an array of buffet stations are set up. Prices for upcoming cruises in the Mediterranean start at $1,599 for 10 nights and $999 for nine nights in the Black Sea. The cruise line is also offering $1,000 in promotional credits per couple for onboard spending, air travel or stateroom upgrades. For more info visit www. azamaraclubcruises.com. ¿
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CHARITY SPOTLIGHT
FOOD FOR THE POOR 6401 Lyons Rd., Coconut Creek 1.800.427.9104 foodforthepoor.org
Food for the Poor helped farmers in Guatemala.
Food For the Poor
provided in excess of $10 billion in aid (more than half of which was provided in the last five years) and has built more than 84,000 housing units. Top Executive: Robin G. Mahfood is the co-founder, president and CEO.
South Florida’s mega-charity. BY KEVIN GALE
This locally-based organization is the largest international relief and development organization in the United States, according to the Chronicle of Philanthropy. For many years, it has been ranked as the largest charity in South Florida. In a 2012 survey of the 200 largest U.S. charities, Forbes magazine rated Food For The Poor the sixth-largest recipient of private support.
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Above: Honduras Education
What it does: Provides housing, healthcare, education, fresh water, emergency relief and micro-enterprise assistance in addition to feeding hundreds of thousands of people each day. History: Since 1982, Food For The Poor has
Revenue: $938.21 million in 2012, up from $899.34 million in 2011. Expenses: $950.85 million, up from $896.1 million in 2011. Bang for the buck: Total fundraising and administrative costs in 2012 comprised less than 5 percent of expenses. More than 95 percent of all donations go directly to programs that help the poor. ¿
Daszkal Bolton provides accounting and advisory services to high net worth families, not-for-profit organizations, and businesses - domestic and international with personal attention from local professionals.
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ADVICE
We’re from the government and we’re here to help BY ROBERT AMSEL
t’s late Friday afternoon and things are winding down at the office when your secretary buzzes to say: “there are two gentlemen here to see you; they say they are from the FBI.” You invite them in and one of the agents says, “This will be quick, we just have a few questions, if you don’t mind.” With that, the agent launches into a series of questions about a business deal in which you and your company are involved. You may feel you have nothing to hide and want to be cooperative. Since you haven’t been taken into custody, there was no requirement to give a Miranda warning – the right to remain silent and seek counsel. However, the Fifth Amendment of the U.S. Constitution guarantees that no one can be compelled to be a witness against himself, also known as the right to remain silent. The following would be my advice: Be cordial. Get the agent’s contact information and the area of inquiry. Politely but firmly advise them that before answering any questions, you will contact your attorney and get back to them quickly. Your request for counsel at this stage, or at any stage of an investigation, can never be used against you in court. Additionally, don’t think that your request to speak to an attorney will give the agents “the wrong impression.” Professional law enforcement agents are used to this and sometimes welcome it. A former client of mine paid a great price for not
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following this advice. Believing he did nothing wrong and wanting to be cooperative, he admitted to officers that he secretly tape-recorded a phone call he had with a business associate he thought was scamming him. Little did he know that secretly tape-recording a phone call in the state of Florida is a third-degree felony and he was charged accordingly. If you don’t follow this advice and answer the agent’s questions, get a third person whom you trust in the room as a witness so that your statements will not be mischaracterized at a later time. Make sure everything you say is true and complete. Leaving something out is the same as lying. Lying to an agent is a serious felony, sometimes more serious than the very matter the agents are investigating in the first place. Unfortunately, being truthful at this stage is not a two way street and, other than making false promises of benefits in return for your answers, agents can lie to you to get you to talk or make admissions. Finally, remember that you can stop the questioning at any time and consult with a lawyer. Consulting an attorney at the very beginning of an investigation before any questions are answered is always the best course of action and often serves to avoid an arrest and prosecution. ¿ Robert G. Amsel is a board-certified criminal trial attorney and a partner with the Miami firm of Robbins, Tunkey, Ross, Amsel, Raben & Waxman. He may be contacted at bobamsel@crimlawfirm.com.
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