TBO.com - TBO is Tampa Bay Online

Business Briefs

ADVERTISEMENT

Tampa Tribune

Published: December 5, 2007

TAMPA BAY AREA

TECO Transport Seals Deal

TECO Energy said Wednesday that it has closed on the $405 million sale of its coal, grain and phosphate shipping business, TECO Transport, to Miami-based Greenstreet Equity Partners. Tampa-based TECO expects to net $375 million after taxes and transaction costs. After the announcement, TECO's credit rating was upgraded to Baa3 from Ba1 by Moody's Investors Service, a reflection of TECO's plan to pay down $300 million of debt.

Airport May Add Dining

Passengers at Tampa International Airport could get some new dining choices next year, including a Carrabba's Italian Grill and Popeye's chicken restaurant, under proposals the Hillsborough County Aviation Authority is scheduled to consider Dec. 13.

Smokey To Grow Here

The firm buying Smokey Bones Barbeque & Grill intends to keep the four Tampa Bay restaurants open and add more local sites, a Smokey Bones spokesman said Wednesday. Barbeque Integrated, part of Boca Raton-based Sun Capital, has agreed to buy the 73-restaurant chain from Orlando-based Darden Restaurants.

NET

Fox Buys Beliefnet

Fox Entertainment Group has purchased Beliefnet, a spiritual Web site, to expand its own religious businesses, including HarperCollins's Zondervan and HarperOne brands. Financial terms weren't disclosed.

NATION

Reports: No Recession

The nation's housing doldrums will drag on at least through 2009, dampening U.S. economic growth and job creation, but the slowdown won't push the economy into a recession, according to a new economic report. Despite plunging housing values, rising oil prices and credit problems that continue to plague Wall Street, the nation's job market is unlikely to suffer the kind of steep losses that would tip the economy into recession, according to the quarterly Anderson Forecast by the University of California, Los Angeles.

In other economic news Wednesday, a private sector report on labor market strength projected that business payrolls increased by 189,000 in November. That gain in the ADP report was well above expectations and caused economists to boost their forecasts for job growth in the government's employment report to be released Friday.

Also, the Labor Department said worker productivity roared ahead at an annual rate of 6.3 percent this summer while wage pressures dropped sharply.

A staff and wire report

Watch the Tribune's Business report at 5, 6 and 11 a.m. Tuesday-Friday and 9 a.m. Saturdays on WFLA-TV.

Share this:

Loading Comments...

Email Print

ADVERTISEMENT