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The Tampa Tribune

Published: January 16, 2008

TAMPA BAY AREA

Port Revenue Declines

Tampa Port Authority revenue and net income are running behind budget projections for the first fiscal quarter ended Dec. 31. But port officials, who have acknowledged that 2008 will be a challenging fiscal year because of problems with the economy, said Tuesday that the report is too early to raise concerns because there are nine months to go. Fiscal first-quarter net income was $14.9 million, 3.3 percent lower than the year-ago period and 12.4 percent less than prorated first-quarter budget figures, which do not account for seasonal highs and lows.

Also Tuesday, port commissioners discussed a rumor cited by Commissioner Joe Hartley that a port staff member might be trying to influence the selection of a new commissioner to fill one of two vacancies on the board. Port Director Richard Wainio said an internal policy precludes staff members from providing unsolicited advice or lobbying. But Wainio said that if the governor asked him or a staff member for an opinion, they were obliged to provide it, a point commissioners agreed with.

Raymond James Buys Lab

St. Petersburg-based Raymond James Financial said Tuesday that its merchant banking subsidiary, Raymond James Capital, has acquired a controlling interest in Sirchie Finger Print Laboratories and related businesses. Youngsville, N.C.-based Sirchie makes products used by law enforcement agencies in criminal investigations. The sales price was not disclosed.

NATION

IndyMac Lays Off 2,403

Mortgage lender IndyMac Bancorp said Tuesday that it will cut its work force by 24 percent, laying off 2,403 employees, to cut costs and weather the housing slump.

Boeing Delay Hits Stock

Boeing's stock slid $3.81, or 4.7 percent, to $77.86 Tuesday after a report by The Wall Street Journal that its new 787 jetliner likely will not begin flight testing until June, at least two months later than planned after the company announced a six-month delay last fall. The Journal, citing unidentified sources familiar with the 787 program, said Boeing may not power up the plane's electronics until March, which could push flight testing into June.

Half Of Mirage Condos Sold

Casino operator MGM Mirage said Tuesday that it has sold 50 percent of its 2,647 condo units for a total of $1.63 billion at its CityCenter casino complex in Las Vegas. The property plans to open in late 2009.

A staff and wire report

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

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