Lennar builders, which lost a fifth of its stock market value Friday, said allegations it concealed debt and misappropriated funds are false and scurrilous.
Lennar has never siphoned cash from one joint venture to another, the company said Monday in a statement. Chief Operating Officer Jon Jaffe’s $5 million mortgage on his Laguna Beach, Calif., home was obtained from a lender with no connection to Lennar, the company said.
Barry Minkow’s Fraud Discovery Institute alleged Friday that Lennar operates joint ventures like a Ponzi scheme.
Lennar shares lost another 45 cents Monday morning to trade at $8.70.
Comcast adds MLB Network for baseball fans
SARASOTA — Comcast has added MLB Network for baseball coverage to its digital cable tier on Channel 279.
The new network, which debuted Jan. 1, offers baseball fans year-round baseball news and entertainment, from pre-season to spring training to live game coverage to daily analysis of the league and its teams. The channel will offer more than 1,400 hours of live programming.
Mosaic lays off 1,000 workers
Potash and fertilizer producer Mosaic Co. has issued layoff notices to a total of 1,000 workers at two locations in Canada. Mosaic, headquartered in Plymouth, Minnesota with a mining operation in Manatee County, said Monday the layoffs affect 700 people in Esterhazy, Saskatchewan and 300 at its Colonsay, Saskatchewan operation. Mosaic spokesman Brad DeLorey said the layoffs represent 80 percent of their operations in Canada. The Canadian operations produce potash. “We’re facing economic challenges as most industries are now. We’re trying to match supply with world demand,” DeLorey said. “Without a doubt, it’s not an easy time.” Mosaic announced last week that it is reducing its output due to weakening demand for fertilizer and higher costs for raw materials and other inputs.
Fifth Third Bank looks at 2009
SARASOTA — A seminar “Financial Outlook 2009: A Forward Look Across Today’s Economic Horizon” featuring John Augustine, chief investment strategist for the bank, will be held Thursday at the Hyatt Regency Sarasota.
Registration will be at 4:30 p.m. with cocktails and hors d’oeuvres. Augustine will speak at 5 p.m. and there will be a reception at 6:30 p.m.
For more information, call Cara Parker at (239) 449-7060 or cara.parker@53.com.
Banks collect $37B in fees
MANATEE — Banks and credit unions collected more than $2.03 billion in fees for bounced checks and overdraft protection in Florida last year, according to a study released Monday.
That translates into $307.75 per household with a checking account, said the study by Bretton Woods Inc., a bank strategy consulting firm based in St. Simon’s Island, Ga.
Florida had the fourth-highest total, behind California $4.08 billion, New York $4.07 billion and Texas $2.59 billion. Financial institutions collected $37 billion in such fees in all last year, a 130-percent increase since 2004, the study said. The average cost per household was $366.05.
E-Mail
Print
Quick Job Search
@Nyx.replyAnswerText@