Gulfshore Business Daily: August 12

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ESTERO-BASED HERTZ REPORTS $847 MILLION LOSS IN SECOND QUARTER OF 2020

Estero-based Hertz Global Holdings Inc. on Monday reported results for its second quarter 2020 with revenue of $832 million, a net loss attributable to the company of $847 million and adjusted corporate EBITDA of negative $587 million as global revenue declined 67%. Liquidity at the end of the second quarter was $1.4 billion, according to the company’s news release. “In the second quarter, like so many companies whose revenues have sharply declined due to the pandemic’s significant impact on global travel, we had to make difficult but necessary decisions to strengthen and position the company for growth for many years to come,” says Paul Stone, president and CEO of Hertz Global. “The toughest decisions have been those that impact the livelihood of our dedicated workforce and our voluntarily reorganizing under Chapter 11 in North America. We are moving through our reorganization process and remain focused on emerging an even stronger global rental car leader better positioned to serve our customers around the world.” For more information about Hertz Corp., visit hertz.com.
 

Video courtesy of WINK News

LEE COUNTY SCHOOL DISTRICT SPENDING NEARLY $13 MILLION ON SAFETY MEASURES

The Lee County School District will spend nearly $13 million – about $175 per student – for pandemic protection during the new school year. Masks are the leading cost since the district is required to supply the face coverings to students every day. Safety expenses also include cleaning products, sanitizer, dispensers, face shields, gowns, wipes and thermometers. The district also is spending an additional $1.6 million for touch-less water fountains, WINK News reports
 

Video courtesy of WINK News

COLLIER COUNTY PUBLIC SCHOOLS RELEASES BACK-TO-SCHOOL VIDEO

Collier County Public Schools released a “First Look At School Year” video that shows how it plans to protect students at schools during the pandemic. From masks to hand sanitizer to social distancing, the experience will be a lot different. The video features school buses, safety measures, one-way stairwells, plexiglass and socially distanced desks. It also highlights notable changes from the school district’s original plan: Eyeglasses are now optional, and lunches won’t be eaten at desks, but in a cafeteria or outside. The video also includes virtual back-to-school options, WINK News reports.
 

CLAM PASS BOARDWALK WILL CLOSE FOR TWO MONTHS FOR RENOVATIONS

Clam Pass Park boardwalk at 465 Seagate Drive in North Naples will temporarily close for renovations for two months starting Monday, Aug. 17. Until the boardwalk reopens Oct. 17, Clam Pass beach will be accessible from the adjacent Seagate Drive entrance. Visitors also still will be able to launch kayaks and canoes from the Clam Pass parking lot.
 

Bruce Senior, O.D.

QUIGLEY EYE SPECIALISTS ACQUIRES FORT MYERS OPTOMETRY PRACTICE

Quigley Eye Specialists has acquired an established optometry practice in downtown Fort Myers. The optometry office of Dr. Bruce Senior joins nine other practices under Quigley Eye Specialists ownership in Lee, Collier and Charlotte counties. By adding another location in Lee County, Dr. Thomas Quigley, founder of Quigley Eye Specialists, said Quigley Eye Specialists is able to give patients better access to care so that patients can be seen the same day if needed. Senior will continue to provide care from the office at 2277 First St. in downtown Fort Myers. The phone number of 239-337-2020 also remains the same. No operational changes are planned as a result of the acquisition. For more information, visit QuigleyEye.com.
 

REAL ESTATE SYMPOSIUM TO BE HELD IN SEPTEMBER

The 2020 REIS Symposium will be presented as a live webcast on Sept. 17, focusing on “Back to Basics – Real Estate Investment Strategies to Weather the Storm.” The program will address economic conditions, investor considerations, development risk and market volatility, site selection and due diligence issues, property valuations, and financing factors. In addition to keynote speakers, a panel discussion moderated by former REIS President Sean Ellis will offer firsthand insight from builders, developers, real estate experts, and government. The half-day program is presented in partnership with Florida Gulf Coast University’s (FGCU) Lutgert College of Business. Details and registration will be posted on the REIS website. A limited number of prime sponsorship opportunities are still available. For sponsorship information, contact Molly Scott at 239-226-0500. For more REIS news, click here.
 

FOUNDATION FOR LEE COUNTY PUBLIC SCHOOLS ANNOUNCES NEW BOARD MEMBERS

Foundation for Lee County Public Schools, Inc., has added nine new members to its board of directors. The new board members are Amira Fox, state attorney, 20th Judicial Court; Deana Homsi, owner/operator, McDonald’s; Lawrence Cremia, chief financial officer, Fiber Solutions; Andrew Reddish, senior vice president, private client advisor, Bank of America; Kevin Shimp, chief executive officer, Thomas Marine Construction; Rob Shovlin, president, NeoGenomics; Gay Thompson, president, Cement Industries; Peter Tuffo, president, Suffolk Construction; and Denise Vidal, executive vice president/CEO, LCEC. The Foundation for Lee County Public Schools provides vital resources and programs to students and educators throughout the School District of Lee County. Foundation Board Members are assigned to committees and act as liaisons to the business community and community at large through engagement and awareness. For more information, visit leeschoolfoundation.org.
 

BOYS & GIRLS CLUB OF COLLIER COUNTY OPENS FALL AFTER SCHOOL PROGRAM REGISTRATION

Boys & Girls Club of Collier County is open for fall registration with limited space at its Bolch Club in Immokalee and Nichols Club in Naples for youth ages 6-18. After school programs will begin on Aug. 31, in conjunction with the current start date of Collier County Public Schools. The club will be open Monday through Friday, from 2:30–7 p.m., with limited transportation from select schools. Specific safety procedures will be strictly enforced, according to a news release. Boys & Girls Club of Collier County will also make virtual after school programs available for those unable to join in person. The Club’s fall after school program registration process is now open. Interested parents are encouraged to contact the membership offices at 239-325-1700 for the Nichols Club in Naples or 239-675-7003 for the Bolch Club in Immokalee. For more information, visit BGCCC.com.
 

NAPLES INVESTMENT MANAGEMENT FIRM LAUNCHES NEW FUND

Pelican Bay Capital Management LLC announced the launch of the Inflation Plus Portfolio, a new investment strategy for high-net-worth individual and institutional clients. In a climate of low-interest rates, the Inflation Plus Portfolio strives to deliver a current income above the rate of inflation and prevailing rates offered by money market funds. The Inflation Plus portfolio will be overseen by portfolio manager Tyler Hardt. Inflation Plus is the fourth investment strategy offered by Pelican Bay Capital Management. For more information, click here.
 

CHARITABLE NOTES

Catholic Charities receives $500,000 to support anti-human-trafficking program

Catholic Charities, Diocese of Venice Inc. received a $500,000 grant from the Department of Justice for housing assistance for victims of Human Trafficking. The Housing Assistance Grant for Victims of Human Trafficking Program is to support housing for victims of all forms of human trafficking in Southwest Florida. Funds will provide six to 24 months of transitional housing including supportive services to victims of human trafficking. Under this project, the Catholic Charities’ Human Trafficking Victim Assistance program will expand its current services to provide short-term housing services for survivors of human trafficking throughout 10 counties in Southwest Florida. Catholic Charities will secure single- and two-bedroom apartments to serve individuals and families who have been victims of human trafficking. For more information, visit catholiccharitiesdov.org.
 

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